Same issue as always. As soon a Company goes Public, they start to cut down, to maximise profit for shareholders.
@lolbored8012 ай бұрын
It's almost as if having a stockmarket is a bad idea for the majority of people.
@skyvenrazgriz82262 ай бұрын
Well the shareholder got their money and moved on, leaving a corpse behind.
@sp1nks2482 ай бұрын
Yes and no. Vital but everything has a negative per say. @lolbored801
@devilselbow2 ай бұрын
Ah yes, "shareholders bad." What an insightful take!
@anthonymacgregor97902 ай бұрын
Any for-profit company that is either privately owned or publicly traded is about maximizing profit for the shareholders.
@sunnohh2 ай бұрын
Better title “Newegg destroyed their own business”
@antikommunistischaktion2 ай бұрын
Or, "Chinese firm buys out and ruins Newegg" oh but wait funnily enough there's zero mention of Liaison Interactive anywhere in the video.
@eyediscovered2 ай бұрын
Not as Clickbaity
@sepg50842 ай бұрын
It's the American model
@BillAnt2 ай бұрын
I remember buying a hard drive back in 2012 which was DOE (defective on arrival). I filed for a refund and it was denied saying that I damaged it. Well, that was the last time I give them my money. F 'em!
@lyianx2 ай бұрын
or "Yet another example of what happens when a company goes public"
@jerkytoo81842 ай бұрын
Maximizing shareholder value tends to lead to companies abandoning the company culture that made them successful in the first place.
@kaasmeester59032 ай бұрын
It's more about short term gains vs. long term strategy. Especially when it comes to private equity firms who want to sell off the company they just bought as soon as possible, after "turning it around". Shareholder value includes stability as well as a decent return. But when new management takes over, they almost always focus on the short term, and that means penny pinching, killing the culture and driving off the firm's more valuable people.
@MBarberfan4life2 ай бұрын
Jack Welch eventually admitted it was the silliest thing ever
@hundid59302 ай бұрын
I would say almost every major ceo ascribes to "maximizing shareholder value" (they do work for the shareholders). Therefore, whenever a company does poorly, we can apply this narrative too them - as almost all companies are doing it. If you pick any of the "very good" companies, (AAPL, MSFT, DHR, etc.) they are also doing this - just more successfully.
@devilselbow2 ай бұрын
@@jerkytoo8184 it was sold to a chinese company, who made it public. Its downfall has more to do with that first private sale than the IPO, but go ahead and whine about shareholders or whatever lol.
@antikommunistischaktion2 ай бұрын
If only the government didn't step in in the 30s and make it so public companies are legally required to maximize shareholder value.
@Ryasis123452 ай бұрын
Allowing 3rd party resellers was end of it for me. When the video card prices skyrocketed, it became much worse.
@ulbuilder2 ай бұрын
I've spent tens of thousands with them getting parts for work. Around the time they added third-party sellers, I also noticed that newegg themselves rarely had the parts I needed, and if they did, it was not the best deal I could find. Not purchased from them for some time.
@atlantamx32 ай бұрын
Bingo
@HaloHamstur2 ай бұрын
Yes when I went on there to buy parts for a new pc after it's been a few years, the third parties and the website layout was horrible. Ruined the website. I miss the old new egg.
@klerixil86732 ай бұрын
I recently ordered half my PC from Newegg and half from Amazon. On Amazon I accidently ordered 3rd party and cancelled the order. Had no issues with Newegg. I did watch gamers nexus videos but ordered anyways. I did return an expensive item to Newegg without issue. This was about two months ago.
@Carcinogenic2Ай бұрын
We should also blame this on the idiot who came up with the marketplace idea in first place.
@ncodexg2 ай бұрын
Former employee here: part of their failure is due to selling their company to a Chinese investor. They constantly put pressure to recoup their investment cost and go public as soon as possible at the detriment of the company. Hired incompetent C level execs and paid such low salaries that the good employees would leave shortly after. It was a very toxic work environment and everyone either hated their managers or kissed ass to not get fired. I’m glad that place is going under.
@PLANETWATERMELON2 ай бұрын
Interesting that he never mentioned anything about new ownership in the video. Do you think with all the research that that would have came across at some point.
@ncodexg2 ай бұрын
@@PLANETWATERMELON it wasn't "new". This happened maybe almost 10 years ago now(?). They've been gradually on the decline since. It is just now the cracks are REALLY starting to come to the surface on a large scale. Fun fact, Newegg is probably about 90%+ Asian/Chinese internally. The people they hired during the Gamer's Nexus interview were there no more than a year before that and they were specifically hired to look "American" and be the face of the company. But all the actual people with power/pull are Asian.
@AdV3nt51872 ай бұрын
All such companies deserve to go under.
@RealSugam2 ай бұрын
@@ncodexg yup. I heard of this change around 8 years ago and completely stopped buy from new egg once I learned of this and sure enough, it was the right choice to make. Its a pity, I sue to buy most of my computer hardware from/between them and microcenter.
@kandise20042 ай бұрын
Many of these Chinese investors are in fact Trojan horses, sent to run the companies into the ground, steal the IP and then open competitors in China
@rebeltheharem70282 ай бұрын
Same story as old as time. Once you go corporate, you lose the things that fans liked. Everyone who cares about the company gets replaced by people who only care about balance sheets and accounting. And then you lose the number one reason why people used your services/company in the first place. Thanks Jack Welch, for making "maximize share holder value" the plague of corporate governance.
@NothingXemnas2 ай бұрын
@@rebeltheharem7028 And Ronald Reagan. Don't forget what one of the greatest anti-workers have done for blind belief that companies were so good-hearted. Ever since "trickle down economics" philosophies were introduced, they NEVER got removed again. Funny how "solutions" that "inadvertently" hoard wealth in the hands of few are so hard to be corrected.
@zachariah71142 ай бұрын
"Once you go corporate" - where is Liaison Interactive, the company that purchased them in 2016, from again?
@malcolmsmith3332 ай бұрын
@@zachariah7114 what does liason being a chinese company have to do with this, even if they were american outcome would be the same
@zachariah71142 ай бұрын
@@malcolmsmith333 evidently not. its absolutely relevant.
@keithkelly56922 ай бұрын
Nailed it!
@fyrestorme2 ай бұрын
short version: they had some success and management became arrogant and greedy and started lying, scamming and stealing from their customers.
@antikommunistischaktion2 ай бұрын
I find it odd how literally nowhere in the video that the company was bought out by a Chinese investment firm and that was precisely when things started to tumble.
@rm1sha2 ай бұрын
Thks
@sepg50842 ай бұрын
@@antikommunistischaktion well, Newegg only started earning a profit on 2019. Prior to that, they were bleeding money.
@brandonscott30122 ай бұрын
I might have heard that story before 😒
@afhostie2 ай бұрын
@@antikommunistischaktionthis is the answer, went downhill after it was bought and they added the "market"
@magnetik53482 ай бұрын
I remember when newegg got caught selling fake processors and tried to blame shady suppliers.. this was way back in 2010.
@WildFungus2 ай бұрын
they straight up gangster on selling defected returns as new
@honor9lite13372 ай бұрын
Lol 😅
@bebdaumon39482 ай бұрын
@@WildFungus yeah, I bought 2 segate drives. One didn't work at all. I thought it was defective. I then had to pay $20 plus shipping and handling to send it back. They called the $20 dollar fee a restocking fee. I was like why are you restocking it when it's defective? This was back in 2015. There were articles that seagate switched to a new factory and their defective rates increased. I bought another one and then got fed up and did an RMA with seagate they said they will send a new one. They send me a refurbished one. I stopped buying from seagate and just bought from WD. I am going to build new computers next year and for sure will not use newegg.
@dishmanw2 ай бұрын
I had forgotten all about Newegg. The last time I had checked them out was prior to 2007.
@iMatthew0072 ай бұрын
I work at an Amazon facility and they had a supplier sell them over 10k worth of AMD processors that were pre gift wrapped for Christmas. Every box had all the manuals and everything inside except the processors. Sometimes suppliers are scammers and since everything has a factory seal you don’t know till the complaints start rolling in.
@Sunless-Sunny2 ай бұрын
I know it’s for the clicks but putting Linus on the thumbnail when he basically did nothing is super disrespectful to Steve and other KZbinrs that actually did all the work…
@h8GW2 ай бұрын
I take Linus's criticism of others super ironically as of this year.
@Brometheus420Ай бұрын
It was done in bad faith because most people already saw Steve's video and would think 'I already know about that' vs 'I didn't hear what happened with linus'
@Potent_TechmologyАй бұрын
@@Brometheus420 Steve is the best tech journalist
@TurboJohn74Ай бұрын
100%
@RandomUser2401Ай бұрын
@@Potent_Techmologyhe should really get a haircut
@xavierconnor342 ай бұрын
Fantastic video! I have incurred so much losses trading on my own.... I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong??
@NoemiaBianca2 ай бұрын
Same here, my portfolio has been going down the drain while I try trading,I just don't know what I do wrong..
@kirstydouglas-u9r2 ай бұрын
Investing with an expert is the best strategy for beginners and busy investors, as most failures and losses in investment usually happen when you invest without proper guidance. I'm speaking from experience.
@Chaobolin2 ай бұрын
Wow, I'm surprised to see Fenella mentioned here as well. I didn't know she had been kind to so many people
@stanleycyrus52 ай бұрын
I'm also a huge beneficiary of her.. I thought myself and my family were the only ones enjoying Fenella trade benefits
@PierreRene0082 ай бұрын
Mrs Fenella successful stories are everywhere, all over the place.
@cinifiend2 ай бұрын
Before the video started I was guessing it was a case of "they got greedy and stopped giving a shit about customer service" while knowing nothing about the company or background story. Turns out I was correct.
@LogicallyAnswered2 ай бұрын
Yes sir
@triadwarfare2 ай бұрын
Greedy, dunno. Lazy, definitely.
@raylopez992 ай бұрын
En-sh@t-ification as Musk called it.
@Rhaspun2 ай бұрын
I used to buy from Newegg but it was under a different name. I don't remember what it was. They had a bad rep for bad customer service. Apparently they can't get away from giving bad service. Now it looks like it's more than bad service. It's outright scamming.
@McVaio2 ай бұрын
When Newegg had the lowest prices and high quality service, they were losing money (for the first 18 years of their existence!) Then when they provided less service, they finally started turning a profit.
@JosephDickson2 ай бұрын
To be fair KZbin personalities had nothing to do with Newegg's decline, the company did it to themselves.
@kirkanos7712 ай бұрын
They choose the thumbnail for maximizing click bait.
@Rhaspun2 ай бұрын
It's a shame. They had really did a good job of rebuilding themselves after they renamed themselves to "NewEgg". I've bought from them plenty of times since they were around. Even when they still had their original name. I last built another PC back in 2021. Everything has been running fine.
@XdivineExp2 ай бұрын
I only half agree. Like obviously if newegg didn't pull all their shady crap, they would've been fine, but if the youtubers didn't come out and make videos about it, it likely would've flown under the radar. After all, I doubt most people are going out and constantly checking whether or not a company has suddenly become super shady, so it's awareness from those big youtubers that helps spread the word. Like I apparently either missed or forgot about the newegg stuff so I didn't realize until this video that I should avoid them. That's the power that being a youtuber with an audience comes with and why I think it's fair to say youtubers were a major factor in the decline of the company.
@mehmehmehmehmehmehmeh2 ай бұрын
@@XdivineExp I'm a day trader that's balls deep in tech sector, NewEgg was already silently dying. The KZbinrs exposing NewEgg were only "accelerating" the process, the company had negative income since 2021. Domestically they can't compete against Micro Center and Amazon both in price, quality and delivery speed. Internationally they can't compete against anyone at all because pretty much everything on their website have anywhere between 50-100x every other competitors' product price, delivery fee, taxes that did no made sense. To highlight how bad NewEgg is, including tax and delivery fee, a 4090 cost almost between $500-$1500(dependent on country) extra compared to buying it off Amazon for international delivery outside of North America. Most ecommerce sites turn to globalization when domestic sales start to falter, they're fail at both fronts. Chapter 11 is inevitable even if KZbinrs did not make videos about them. People already stopped recommending NewEgg since 2022 when their price gouging did not stop despite other competitors already normalizing in prices.
@greasemonkeymechanic12 ай бұрын
To be fair big KZbinrs brought the issue to the attention of a lot of people that would never have known about it otherwise
@hilariovilla36062 ай бұрын
Why did you use Linus as a thumbnail instead of Steve he's the one that did most if not all of the leg work for the exposure ....
@TallinuTVАй бұрын
Yeah, I thought I was clicking on a LTT video at first. Still interesting, but putting someone else in your thumbnail is misleading and super annoying. 😑😠
@carolinas8886Ай бұрын
It seems made to get more engagement from these comments. Not a good tactic.
@sinithwar8991Ай бұрын
Because Linus is more known than Steve so to reach more people, they used the more popular face.
@meekmeads26 күн бұрын
LTT would gladly shill in Defense of current Newegg
@bradhaines314219 күн бұрын
steve doesnt make nearly as dramatic of a face
@ericbaxter39442 ай бұрын
They sent me the wrong cpu. Ordered an i9 13900k with a motherboard combo. They sent me an i7 with it. I requested to return it unopened. They denied the return on arrival saying it was damaged and I had to buy an i9. Went 900 out of pocket.
@artmanrom2 ай бұрын
You should have to go to the police!
@neiliewheeliebin2 ай бұрын
I would make a police report & really get things happening, it's theft
@firstsurvivor76002 ай бұрын
I bought a Logitech G502 mouse. Got a random aliexpress special "G502" mouse. Customer support wanted me to confirm with Logitech that it was indeed a counterfeit. They confirmed it was. Then they had the gall to tell me Logitech's customer rep didn't confirm it was counterfeit. Then they told me to send back the counterfeit item (which I refuse to do since I know they'll just send it to someone else AND BECAUSE I DON'T HAVE TO BY LAW). And they were charging me a restocking fee. Posted on Reddit and asked for their legal team to the customer service rep, I think I did send a nice email reminding them of applicable law. Did get a not moron customer retention rep, but I never bought from Newegg since. Few weeks later, there was a mass email that the specific seller was selling counterfeit goods and my (already refunded by now) item would be refunded. Never took their 50$ offer to keep me as a customer.
@arakheno40512 ай бұрын
And block/dispute the transaction. Most banks will return the cash asap
@Vidjnjsdnjk-en6tzАй бұрын
Small claims court.
@kuboskube2 ай бұрын
I used NewEgg to build a PC back in 2015. It was absolutely amazing, really. Now, I didn't buy my parts from NewEgg... I just used its PC builder and bought the parts from whoever had them cheaper at the time. It's still my most reliable PC to date, barring a single failed SSD.
@sniperelite28842 ай бұрын
Same exact thing with me just haven’t finished the build yet but surprisingly they had great prices fine shipping times and excepted PayPal unlike Amazon
@Hamborger-wd5jg2 ай бұрын
i just use pcpartpicker, you should try it sometime
@E-raticWarrior2 ай бұрын
Same! I bought all my parts from them in 2015, fast forward to last December I only bought my CPU, GPU and MOBO from them. I didn't know I was taking such a huge risk. I thought they straightened themselves out since Steve went there and called them out.
@vendora1Ай бұрын
same here
@Alloveck18 күн бұрын
@@E-raticWarrior Funny, I also bought most of my current main PC from them at about the same time, and also with no idea they'd been having so much trouble. Just assumed they were still the same Newegg I've trusted for as long as I've built my own PCs. Anyway, all my parts were fine and are powering the PC I'm using right now to post this. Guess I got lucky? I also just remembered: I even bought a good chunk of parts around May of this year for a build for a family member, also without issue. Really hoping this means they've straightened things out after all.
@artenman2 ай бұрын
Why does this guy sound like he's about to tell me a secret but never does.
@griever_852 ай бұрын
😂😂😂😂 this sums up the cadence if his speech perfectly
@Spyhermit2 ай бұрын
Feels like a mediocre BuzzFeed article.
@tdubs99812 ай бұрын
They had to send in 5 suits to deal with Steve and they still failed lol.
@nword92392 ай бұрын
The suits are not any different from a normal person, and if they are from a public company they are just nepotists, they are liquidators, not people with technical knowledge.
@russellhltn13962 ай бұрын
I'll bet if we dug deeper, the suits is where the problem started. The ones who started the company did alright, but at some point they had to hire some suits to run it.
@kivulifenrir2 ай бұрын
The suits were no match for Tech Jesus's luscious locks. :P
@idgamingfederation2022 ай бұрын
2004: Once you know, You NewEgg 2024: Once you know, you go somewhere else
@earthling808Ай бұрын
once you knew NewEgg, now you know BadEgg.
@smiles00132 ай бұрын
what happened to tiger direct?
@psyience32132 ай бұрын
I used newegg as a young man in the early 2000's. There was nothing like it. The prices, the help with specifications. A lot of young kids don't realize back then the current generation of computers could have 1 of like 5 different kinds of RAM. Computer parts have been way more universalized since then, 1 kind of RAM, PCI Express, and then just matching the cpu socket to the board. It used to be way more complicated.
@captiannemo15872 ай бұрын
All the parts now have labels on what goes where as well… (usually).
@shatteredshards85492 ай бұрын
No kidding - I was able to use Newegg to source upgrade parts for an old Compaq PC that kept it running a lot longer than it should have. I visited the site more recently and it felt so off, it was giving AliExpress vibes.
@jamesbmull2 ай бұрын
More grown up Legos.
@JavoCover2 ай бұрын
I actually think Legos can be more complicated.
@stephenoden8292 ай бұрын
Lmao….less complicated? I call bs….im willing to bet there is a clear anti consumer reason for every company nowadays naming ejhdhdjdkjejebbddbjdjeu287748ultra for other part……
@SubversionGarage2 ай бұрын
This scenario happens over, and over because retailers don’t understand they are in the customer service business. When you don’t design, or build products, the only thing they have control over is the customer experience.
@fillerbunnyninjashark2712 ай бұрын
Their customer service switched to serve share holders
@Acorn_Anomaly2 ай бұрын
You're the one that misunderstands. They ARE serving their customers, and they're doing it well. They've just changed who their customers are.
@brettoberry35862 ай бұрын
Perfect explanation! Best comment I've seen that showcases the disconnect between retailers and the CUSTOMERS they are supposed to "serve."
@bassnfool22 ай бұрын
@@fillerbunnyninjashark271it didn't serve the needs of shareholders either
@slycordinator2 ай бұрын
The laughable part of the Gamer's Nexus situation is that they left the RMA sticker on the board from when they sent the board for repair from the manufacturer.
@SenileOtaku2 ай бұрын
Which just goes to show they're too lazy to even try to cover up their own corruption. It's like WalMart, where TWICE I've bought electronics sold as NEW that proved to be used when I opened them up (like an answering machine that already had messages on it). I don't buy electronics from them now (not that I shop there much at all)
@JosephDickson2 ай бұрын
LOL, Linus is gonna be mad about the thumbnail :P
@therealnoofle53302 ай бұрын
Goes kinda hard tho
@LogicallyAnswered2 ай бұрын
Hahaha
@skyvenrazgriz82262 ай бұрын
Well Linus is a king of clickbait as well so... no pity for him
@Randohandle557482 ай бұрын
@@LogicallyAnswered Can we get an analysis of Truth Social
@eldronado2 ай бұрын
@@skyvenrazgriz8226 lol you must be new on KZbin if you think LTT thumbnails/titles are clickbaity 🤣
@russjudge2 ай бұрын
Cutting salaries is a move of desperation to avoid insolvency. It is the worst thing to do if you need to provide customer service.
@davidknightx2 ай бұрын
Private company - You work for the customer Public company - You work for the shareholder The ONLY way the latter works is if, somehow, the shareholder IS the customer. But shareholders tend to have lots of wealth. Most Americans don't.
@Carcinogenic2Ай бұрын
I disagree. Private = you work for the owner 'Public' (stock exchange)=you work for the most successful shark among the shareholders. This corporate culture that many US citizens seem to love so much has hidden all sorts of crimes and deeds to maximize profits for a handful, leaving good employees in despair and peril (toxic workplace and loss/mispayment of wages) and customers - who also happen to be in most part employees in other companies that do the same - powerless to solve problems with malfunctioning products/services.
@MonguzTea2 ай бұрын
Newegg forced faulty power supplies on customers who just wanted to buy graphics cards.
@nebufabu2 ай бұрын
Faulty as in "could literally explode fresh out the box under normal load." And GamersNexus was instrumental in exposing that too.
@whitebeartigtig2 ай бұрын
AND when the PSU went bad you had to return the GPU too.
@Devastator02 ай бұрын
Yeah that was one of the fucking stupidest things I’d ever seen.
@XeonProductions2 ай бұрын
Newegg destroyed themselves with all of their shady behavior.
@4RILDIGITAL2 ай бұрын
Once famous for its exceptional customer service and product quality, it's disappointing to witness its downfall largely due to management discrepancies and disregard for customer concerns.
@aac9932 ай бұрын
I was done when they added 3rd party sellers.
@davidcoronado79242 ай бұрын
When I worked there back when it was the Newegg described, it was all about Customer Service. I can tell you this video hits spot on.
@LeonAlkoholik672 ай бұрын
Good that NewEgg isn't in Germany. Though, I wish we had MicroCenters here...
@berndkemmereit82522 ай бұрын
Agree, which we had MicroCenters in Europe.
@kaystephan26102 ай бұрын
Wir haben MediaMarkt und Saturn 😂😂 (Oder MediMax und Expert wenn MediaMarkt und Saturn zu weit weg sind xD) JK JK kreuzigt mich nich 🤣
@berndkemmereit82522 ай бұрын
@@kaystephan2610 lol....Media Markt, die geballte kompetenz in PC hardware..brilliant
@jmal2 ай бұрын
You don't need a Micro Center. You got free healthcare. You'll be fine.
@XmarkedSpot2 ай бұрын
Conrad Electronics was a good place for consumers and pros alike a decade and a half ago. EDIT Sadly I can't even recall when I had seen a physical store the last time, though.
@hudooguru22 ай бұрын
Microcenter destroyed NewEgg in my parts of the world.
@markm00002 ай бұрын
I live a few hours from a Microcenter and I feel like I should go there instead of supporting these trashy online retailers.
@lck0ut3482 ай бұрын
@@markm0000 if one opens even closer to you, I would heavily reccomend going there for your computer parts needs The ones I've been to have always been amazing in terms of customer service, in the rare instances I had issues
@Brimshae2 ай бұрын
@@markm0000 Do it. It's worth the few hours of drive when I go.
@Pharren88Ай бұрын
Just wish there was one closer to me. I'd shop there if it wasn't so far away.
@meekmeads26 күн бұрын
If only I, from New Zealand can buy from Microcenter
@bumblebeeisfree2 ай бұрын
I bought a laptop in the pandemic from Newegg not knowing all the problems they were having in 2022. My laptop was listed new but obviously I couldn't beat the price and I knew Newegg was a reputable source amongst pc users.... or so I thought. I received my laptop and inspecting and general cleaning the day it came I noticed that one of the screws holding the bottom panel was stripped out. So I did some digging and opened the case. To my surprise the laptop was not new and it even had non oem mismatched ram and everything. To no one's surprise from this video. I was ghosted after 4 days of back and forth with support. 4 months later the motherboard grenaded itself rendering the keyboard and mouse pad useless. Non detectable battery charge rendering the laptop mobility useless. And more, but overall I'm not giving those people my money ever again. This may seem harsh but I'm glad they go under. I have no idea how things like this is not illegal and would warrant investigation from officials seeing it as its an American based company. I hope micro center keep growing as they do because never ever have I had a bad experience with them.
@FreaKill6662 ай бұрын
About legality of such things - did you report your purchase to any consumer protection agency? Cause I hear a lot about people getting by businesses, but people actually properly reporting those scumbags seems rare.
@bumblebeeisfree2 ай бұрын
@FreaKill666 well is something that I just never thought of at that time you know. Is been 4 years now so I doubt I would have a case. Plus I was younger back then and didn't really care for such things. Now I have a tighter grip in my financials and I'm more educated on consumer laws and how scummy business can be. Guess you got to get burned atleast once to know if the stove is hot or not
@IAmCjcj112 ай бұрын
Knowing what I know now if I was in the spot the second they stop responding I’m going straight to the credit card agency to dispute. I had to do this with Adobe because they practically refused to cancel my subscription that I at least thought I cancelled 4 times already at that point. We’re talking like 4-5 pages of “are you sure’s” that were made to appear like you already successfully cancelled. I got on to a live chat with their support and they just stopped responding to me. Provided the chat to the bank for the dispute and got my money back lol
@bumblebeeisfree2 ай бұрын
@IAmCjcj11 I'm going through this rn with planet fitness. I just had to escalate with corporate to get 3 months of refund. I have one of their workers on video telling me that my subscription was cancelled and they kept charging me. This time though if corporate doesn't answer me I will have to communicate with my bank. I moved state lines there isn't a PF near me for atleast 4hrs away. But yeah wish I knew so many things when I was younger I could've probably had my own house by now
@LG1416022 ай бұрын
I ordered a galaxy s22 ultra from Amazon and received a cheap fake clone. It's very scary when you believe you got scammed and lost thousands of dollars. Report. Always report.
@JodyBruchon2 ай бұрын
They weren't actually related, but I remember buying things at Egghead in 2001 and they shut down not long after that. I didn't know about Newegg yet, so when I found out they existed, I immediately assumed Egghead had rebranded or reopened or something. I sometimes feel like I'm the only person who went through this.
@jimmyhankins74872 ай бұрын
I came to the comments to see if anyone would mention Egghead. I thought they had rebranded as well and always had a good vibe based on Egghead.
@bobafettjr85Ай бұрын
You are not. My friend convinced me NewEgg was a rebrand of Egghead also.
@earthcomedyАй бұрын
ditto
@imzjustplayin25 күн бұрын
You're not the only person. Many people thought Newegg and Egghead were somehow connected.
@samholdsworth42010 күн бұрын
Egghead had physical stores correct?
@somenygaard2 ай бұрын
8:50 Are they still wearing masks in 2024?
@SquiDev29 күн бұрын
So? This was 2 years ago.
@Ice_ZOMBIES2 ай бұрын
Everything that goes public eventually goes to shit. All I can say is thank god Valve is a private company.
@timerupture84302 ай бұрын
The day Gabe passes and someone eventually turns steam public, pc gaming is dead.
@cern1999sb2 ай бұрын
The repeat purchase rate graph looks like you're looking at a spike on an otherwise flat graph. Basically no trends there
@Spyhermit2 ай бұрын
Yeah, both of the statistics cited there were not good. The numbers didn't change that dramatically and he's making it out to be a big deal.
@gund891232 ай бұрын
Customer service is bad, they cut salaries ? What would motivate employees? It’s always management’s fault.
@Rhaspun2 ай бұрын
Yes. It always starts from the top.
@876DroidАй бұрын
Using Linus' face is so wrong
@generalinfo3598Ай бұрын
10:02 “It’s hard to blame leadership because the turnover is so high”. You sound like the only work experience you have is being a youtuber. High turnovers are most definitely the fault of leadership/management, due to their actions or lack of.
@waisinglee15092 ай бұрын
They lost me a LONG time ago when they locked my account (because I ordered parts as a gift for a friend), informed me by email about it, left a number for me to call for assistance. I called the number and was told that they could not help me. WTF did they even bother giving me a number then?!
@kidnf85862 ай бұрын
no mention of the ownership transfer?
@evo-infinite71712 ай бұрын
Well if the turnover is high, company is already dead. Experience employees are key to success.
@kingofbengland2 ай бұрын
One other issue that hurt Newegg is the fact they were happy to sell exploding power supplies as parts of bundles as well as individually when they knew they were faulty.
@YorksGamingEmporiumАй бұрын
Anybody remember Tigerdirect?
@uvwxyzero2 ай бұрын
Okay guys we don't need to put Hari's picture on the milk cartoon he's back safe.
@LogicallyAnswered2 ай бұрын
😂
@gikigill7882 ай бұрын
Similar to Blurs video Coffee and TV
@k29king12 ай бұрын
Even better title: How Shareholders ruined NewEgg like they do everything else. Businesses have become more focused on making shareholders happy instead of their bread and butter; the customers.
@antikommunistischaktion2 ай бұрын
Companies have a legal requirement to maximize shareholder profit and any publicly traded company that doesn't can get sued by the government.
@NothingXemnas2 ай бұрын
@@antikommunistischaktion Stop sharing misinformation, most countries do not require any growth by law. Growth is simply intrinsically present in cultures that focus competition as its tenet, and companies are falling for the growth trap all over the world.
@antikommunistischaktion2 ай бұрын
@@NothingXemnas I'm not sharing misinfo, I'm sharing caselaw and historical fact.
@legendmaster19892 ай бұрын
@@NothingXemnashere in the US it’s the law
@MHNK772 ай бұрын
@@antikommunistischaktion How can it be proved in the court of law that a company did or didn't try to maximize shareholder profit?
@jackdknutson2 ай бұрын
Idk maybe I am wrong.. but does the graph @10:23 represent a 2% decrease? Regardless there’s no significance to such a small change and definitely within margin to attribute market factors. Also the decrease in volume per purchase seems normal considering the cost of GPUs leveling out. Not an attempt to defend Newegg, honestly thought it was one of those temu sites or whatever before today. Just totally vaporized any credibility from my perspective
@sinewybug84152 ай бұрын
even that isn't honest since it was compared to a very short spike. the graph axis makes it very misleading too
@G-Money1242 ай бұрын
That chart is not the customer repeat purchase rate as he insinuated. That is the stock price since ipo. The stock price is down 90% but the customer repeat purchase rate is down 2%. Misleading
@sy59242 ай бұрын
uh oh, i just bought a graphics card from newegg last week but wasnt planning on opening it till i get all my pc parts through out the year, should i open it to make sure its good? 😳😳😳
@JonJaded29 күн бұрын
Crazy you didn't mention the explosive PSU they force bundled with graphics cards.
@EyesOfByes2 ай бұрын
The PC tech companies are playing Musical Chairs on who is roasted for horrific customer treatment. Gigabyte and the explosive PSUs, Asus recently and of course Newegg
@DasGonz132 ай бұрын
They charged me $20 restocking fee for 2 sticks of RAM. Whatever. More choices exist now.
@flywheelshyster2 ай бұрын
you mean they destroyed themselves, Microcenter is better anyway
@Denastus2 ай бұрын
Does Microcenter ship to residential?
@kevincooper38502 ай бұрын
@@Denastus technically yes, but most are in store only
@adamtajhassam91882 ай бұрын
Microcenter needs to be international. Not just for USA.
@WrecklessSandwich2 ай бұрын
@@DenastusThey offer some items for shipment, but I don't think it's their whole catalog. Worth checking.
@309electronics5Ай бұрын
Sadly its only in a few parts of the world and outside europe. Seems like the elites rather want us europeans to pay skyscraper high prices for parts with ±21% taxes added and shipping just to make it a bit more expensive because we are all rich /s
@hardkore360Ай бұрын
As soon as they started to bundle GPUs with the crappiest mobos and power supplies you can find (during the GPU shortage mind you), I said SCREW YOU to NewEgg and gave them the finger.
@radicalrick9587Ай бұрын
*All the king's horses and all the king's men won't be able to put this Humpty Dumpty back together again.* 🥚👑👑🐎🐎
@bkkp54682 ай бұрын
Unfortunately these kinds of practices seem common nowadays. Companies/organisations scam people and only rectify the situation if people kick up a fuss.
@Chuck85412 ай бұрын
aww...thought this was gonna be about Linus Media Group. lol
@dagobert12343212 ай бұрын
They knew what they were doing when they made the Thumbnail
@Chuck85412 ай бұрын
@@dagobert1234321 Yeah! Most clickbait thumbnail I’ve ever seen. Literally nothing to do with LMG.
@Fernando-ek8jp2 ай бұрын
Gonna take quite a few years for them to go under, if ever
@Chuck85412 ай бұрын
@@Fernando-ek8jp Yeah. Some folks are hesitant to report sexual harassment.
@Fernando-ek8jp2 ай бұрын
@@Chuck8541 yet you seem to know about them. What other cases have you heard of?
@Papasot2 ай бұрын
Omg he’s back!!! Also it’s so nice to start with a UFD tech clip they today reached 1 million subs. Waiting for your shiny day
@LogicallyAnswered2 ай бұрын
Ah that's awesome man! Yes, one day
@CptBlackEye2 ай бұрын
I was a Newegg fanboy, until they had a data breach that cost me over $600. I never went back.
@s1l3nc3r327 күн бұрын
When Newegg was a 1st party only retailer, they were the best to deal with. Then, they decided to file for IPO 2008, receded it in 2011, then started a market place in 2010. This was the beginning of the end, but it was still under the original Newegg leadership. In 2016 Newegg basically sold majority control, then on 2021 all hell broke loose.
@VoidEdits89732 ай бұрын
Ah, after a long time. Welcome back buddy. Regular videos when?
@LogicallyAnswered2 ай бұрын
Should be weekly starting August!
@intruder3132 ай бұрын
I remember GN's visit and interview: a room full of VPs and other corpos who no doubt had their hands full of Shares and were part of the problem.
@skyvenrazgriz82262 ай бұрын
Steve is doing the job that a customer rights gov. agency should do... but these countrys dont have those...
@YouLostTheGame77724 күн бұрын
Next in line, MSI, they similarly burn their customer's faith
@rextimtodayАй бұрын
You forgot what really did NewEgg in was the GPU and CPU Crisis, newegg started the price rise of all the GPUS due to the scalpers and newegg never recovered from it they just kept selling overpriced hardware
@ahabkapitany2 ай бұрын
>2.1 percentage point decline in repeat purchase >7.8% average order value decline I mean... it's not rosy but it doesn't exactly look "destroyed" either.
@LogicallyAnswered2 ай бұрын
99% decline in stock value too haha
@АлексейГриднев-и7р2 ай бұрын
@@LogicallyAnsweredgiven how many companies lost 99% of their value or more in a recent history, it really begs the question of whether the share prices has anything to do with reality at all.
@stellviahohenheim2 ай бұрын
Found the newegg simp
@NONO-hz4vo2 ай бұрын
@@АлексейГриднев-и7р Share prices being tied to nothing concrete is why a lot of investing has more in common with gambling than reality. Too many share are purchased by those betting that share X is going to be the next big thing. This is why the S&P500 beats almost every single fund managed by groups people making millions to guide them.
@NONO-hz4vo2 ай бұрын
@@stellviahohenheim Newegg definitely is evil now but I wouldn't accuse this guy of being a simp, I think he brings up a valid point that some of the fundamentals of the company didn't actually change much which is surprising consider the hammering they took in the market.
@KatyhuscaHaberland2 ай бұрын
*No man was born rich that's why we have do our best to achieve something in life. Before we get old.*
@MikeRaymond-x6p2 ай бұрын
You are right we have to achieve something in this life so our children won't sofa it
@ZuletLeve2 ай бұрын
well at least the rich achieved something in life before that person dies. his kids will probably inherit the fortunes and pass on to the next generation. cycle of life.
@TheboiZelleke2 ай бұрын
Thanks for continuing updates I'd rather trade the crypto market as it's more profitable. I make a good amount of money per week even though I barely trade myself.
@CarliAlpamayo2 ай бұрын
Finding yourself a good broker is as same as finding a good thing, which you go less stress, you get just enough with so much little effort at things
@CarliAlpamayo2 ай бұрын
No I don't trade on my own anymore, I always required help and assistance
@mattstone88782 ай бұрын
I put too much salad dressing on my salad and now it is kinda ruined. Aww man.
@mattstone88782 ай бұрын
@OriginalContent89 Plot twist...I used all the lettuce and veggies.
@cheesemaster1132 ай бұрын
It's almost like prioritizing your stock price over running a gold standard business has its drawbacks! Who would have thought?! I should probably throw my name in the hat for a CEO position there
@Arktierus2 ай бұрын
Third party sellers made me never want to go back. I had a bad experience with one (that newegg surprisingly resolved) and then I thought, screw it, I'm not doing this anymore.
@highrzr2 ай бұрын
Once a company start chasing "shareholder value" and stock price, the entire business starts it's journey towards circling the drain. Customer Service makes or breaks a company. Poor customer Service is reflective of poor management. Again, poor management destroying a company.
@Steve-xo4nb2 ай бұрын
Bro this is so fking true...... I bought a 165Hz 1440p monitor for over $800 and when I got my item, I hooked it up only to find the screen was broken in the top right corner. Like legit busted. Sent it back for a replacement or a refund. It really didn't matter to me. But they gave me the "We can not refund or replace this item as it is damaged".. Like wtf, you guys sent me the fking thing.... So I'm just out $880. I would have been better off going to the casino with that money... I should say though, they did send me back the broken monitor..
@GamerLoggos2 ай бұрын
Id had called the Credit Card company and filled a credit dispute for their refusal to address a defective item. And now its between Newegg and the CC Company.
@Steve-xo4nb2 ай бұрын
@@GamerLoggos I was afraid to do that because they did at least send me the item. I figured it would have been a waste of time. I bought the monitor back in early 2023. I finally gathered the courage to throw away the broken monitor last week. Was hoping to find a place that repairs 1440p screens. To no avail
@Fulano53212 ай бұрын
I think you really should change the clickbait title. Maybe "KZbinrs Expose" or "Newegg Destroyed" but the KZbinrs didn't destroy the company, the destroyed themselves for the reasons you said in the video. The video is great, a good summary of the situation, but the title had me questioning if I could trust this KZbin channel anymore.
@LogicallyAnswered2 ай бұрын
Changed :)
@Fulano53212 ай бұрын
@@LogicallyAnswered Thanks! I like it way better.
@Vintagesonic12 ай бұрын
I guess New Egg was a Bad Egg all along, haha... I'm sorry...
@robertwilliam552722 күн бұрын
Not KZbinrs, Steve from Gamers Nexus did that.
@SolKnighttАй бұрын
0:25 After going through a literal worldwide plague and seeing people diving headfirst to get infected, we need a new phrase. "Avoid like the plague" doesn't quite have the same feel it did 5 years ago, haha!
@captainkanji12 ай бұрын
I quit Newegg when they gave out customer data to New Jersey without a warrant. This was before the court decision forcing online retailers to charge state taxes.
@Dexmo2 ай бұрын
I guess that explains why they abandoned their warehouse and pick up center in New Jersey. That was the only reason why I use them. I can go down there and pick stuff up.
@senorhayomayo2 ай бұрын
As someone who was personally denied a return because they thought I damaged it, good riddance to this company.
@JetFire92 ай бұрын
After owning two Tesla’s, I can tell you they are doing the same crazy crap that killed Newegg.
@darkjudge87862 ай бұрын
So many communists in the comments. Profit is not evil. Fraud is evil. We have laws for that. Stop moaning about the economic system that makes your life better than that in every previous generation ever
@roryrodgers93662 ай бұрын
2005 or so, Newegg supplied me with my entire computer build. Living local, i was able to have my parents take me to pick the parts up. Sadface :
@YoSuey2 ай бұрын
Yeah, i bought a ton of builds through them until 2013-2014 once i made the switch to laptops. Never had an issue, just got lucky and got out in time. Hopefully MicroCenter doesn't go the same way.
@balpreetsingh68342 ай бұрын
Great video as always
@LogicallyAnswered2 ай бұрын
Thank you as always Balpreet!
@danielvasquez37582 ай бұрын
Glad you are back!!! Missed your videos!!
@LogicallyAnswered2 ай бұрын
Thanks for watching Daniel!
@calebjardine72 ай бұрын
10:23 bro, you just slapped numbers on a random unrelated graph with the old metrics still there. Dude not cool keep it legitimate make a new graph even if it's just two data points. Keep it real.
@GigabitzАй бұрын
you cover interesting topics, but could you tell your editor to ease up with the constant slow zoom? especially on the talking heads? the way you look so deeply into the camera, paired with the dramatic slow zoom - it feels uncomfortable to watch - like you're about to make a desperate plea of love to the viewer
@uniqueprogressive99082 ай бұрын
I remember looking at the prices and they were outrageously expensive. Also whenever a company goes public in the stock market, avoid it like the enshittification plague.
@speedchopwtf2 ай бұрын
I feel like something is a little bit off here with the timeline. someone correct me if I'm wrong, but no one went on amazon in the 2000's to buy electronics. They went on there to buy textbooks. I know its hard to imagine a world before you could get anything and everything on there. but they were not the go to for really anything other than literature.
@RandomDeforge2 ай бұрын
logically answered is utterly incompetent in this essay. newegg for the most part was trusted and approached by customers due to the intentionally deceitful use of the name which most people - including me - confused to be a rebirth of egghead software. a preexisting company with a large and loyal customer base
@speedchopwtf2 ай бұрын
to be fair. the rest of your video is very accurate and informed. but at the time Newegg probably would have been competing with the likes of Fry's and maybe circuit city and CompUSA if they were still around. online shopping was still somewhat shadowed by brick and mortar retailers.
@joesmith11422 ай бұрын
Yeah agree. I dont even remember knowing about them in the early 2000's. Maybe mid 2000's and even then i remember their website was so confusing and clunky, i avoided them like the plague.
@doujinflip2 ай бұрын
I haven't built another personal power rig since before COVID, but it seems next time I should shop around some more after I verify parts compatibility with Newegg.
@tylereyman52902 ай бұрын
Even better, just use PC parts picker, that'll give you full system compatibility along with power requirements. It will then show you different websites where you can buy those parts along with their price
@theseabass2 ай бұрын
Use PC Part Picker. It will ensure compatibility between parts AND compare prices on said parts between retailers thats have it in stock for you.
@wolf3345us2 ай бұрын
Its a shame. I have been using them since they started. But I have never had an issue. The only time I had issues with gear was during warranty with some RAM. The manufacturer changed it out no problem. Both some things from them last year without an issue.
@MrChikoSticksАй бұрын
You just talk in circles. Horrible attempt at exposing the truth.
@hyfy-tr2jy2 ай бұрын
All the data spewing at 10:12 is supposition. The customer rebuy rate and average sale could be the result of many other economic issues than just customer satisfaction
@slyace1301Ай бұрын
Wtf with the AI vo Edit: you mf have such a soothing voice, i thought it was AI generated lmao.
@SgtJoeSmith2 ай бұрын
people that post on glass door are shitty employees that get fired
@ThePoseidonb2 ай бұрын
Why is Linus from LTT used as the front photo? Seems misleading
@ProjectShinjiАй бұрын
dont ever put another graph like this 10:23 in a video if you dont want your channel to be treated like newegg
@OldDirtGuy2 ай бұрын
The sad truth about the race for the bottom is that the bottom always wins.
@TheGuruStud26 күн бұрын
Linus didnt do anything. Hack channel.
@NaterFernat2 ай бұрын
Nuevohuevo siempre me pareció muuuuy carero
@zeos386sx16 күн бұрын
Newegg died when they tried to become amazon
@planktonfun12 ай бұрын
They should call it old egg, its spoiled, bad and rotten