Our account randomly got limited and they forced us to give them documentation about our business and our supplier contact information, otherwise they would restrict our account and prevent us from withdrawing money. They gave us a deadline of 7 days.
I sent in the documentation the day after I received the warning, and I called in to double check that they were going to get it taken care of. They ended up not getting back to us in time and our account got restricted today and we weren't allowed to withdraw or send money. I called in again and got the contact info for a guy named Vincent, who is in charge of our case.
I'm talking to Vincent and basically he says congratulations for having such tremendous growth, we're going to put you on a rolling reserve with a rate up to 9%. He actually called it a "sidepot" which made me chuckle a bit.
tl;dr
PayPal is going to force us to loan them up to 9% of every transaction we make for 90 days and there's nothing we can do about it. They're also trying to play it off as though it's for our safety.
Good or bad deal? Jason and I want a car like right now. Nothing fancy, just something that will last us and get us around.
We're total car fish though, so if it's reasonable enough to buy, my older brother suggested we take it out to a mechanic and check the carfax report to make sure it's not rebuilt or something.
To the east side,
To a deluxe apartment in the skyyyyyy
Well okay it's not on the east side and it's also not an apartment. But we moved into a new house about 3 miles east of campus/where we lived. I'm living with my roommates from last year, Jason and Teng (Jas0n and Acckerman).
Business updates: around May, eBay came out with a new policy that actually hurt us (sell thru rate must be 30% or higher or ban), so we went on a little downswing for a month. Since then though we've increased our inventory and totally maxed out our apartment, as well as filtered out a lot of our bad products. So now we're back to the same monthly sales as we had originally back in April.
Probably the most exciting thing though is we had a lot of capital just sitting in our bank account because we couldn't stock more things in our 3BR apartment. Now that we have this house we're going to buy a ton of products and try and make the business fly.
Anyway, I snagged a bunch of pics of our new place. You can see our house, a glimpse of our business, and my room.
Here's the house we're in!
Our backyard.
The den upon entering the house, leads into the living room.
Living room.
Yes, that is a Herman Miller Embody being used as a dining stool. Both chairs are Jason's but he's going to bring them up when his desk arrives.
This is the dining room. You're doing it wrong.
The garage- aka our processing facility.
This is actually the master bedroom, but it's so big that we're just using it as a living room since we have 3 equal sized bedrooms anyway. It's split into two parts.
Part two of master bedroom. We're planning on putting workout equipment here.
Jacuzzi in the master bathroom. Nice touch.
My setup! Not using my second monitor for now, though I might not set it up anytime soon since I mainly used it for poker.
Jason and I bought new mattresses. It's amazing how nicer it is than crappy campus furnished beds.
Anyway that's all for this blog. GL LP, hopefully poker comes back to the US soon so I can donk around with you guys again.
Total for the year: 9555 pieces sold, $106,062.68 sales (yay 6 figure milestone)
Our margins are very good . Holidays included, hopefully we can hit a million this year. We hit a little rough patch the first few months because of constant shortage in stock and getting design done. You can see there's a big increase in sales month to month, and that's because we were selling a small portion of our inventory until recently (needed to wait for a design + takes a lot of work to put up the way we do it). There's also the issue of operating out of our tiny 3 bedroom apartment.
Sorry for not having blogged or posted about poker in a while, but I've been really busy and I might also be visiting Korea this month. I was thinking about just splurging on playing some heads up since Teng's already up like $1600 and I'm totally going to lose the bet (I haven't played so I'm actually still DOWN lol).
I'm gonna limit myself to two more NL25 blog posts, so depending on how I do I might journal it for a while. I am messing around a bit in 5 card draw though, so maybe I'll write something up about that. My impression is that the current metagame isn't very evolved, and I grinded some math and ideas that I'm messing around with. I'm still kind of a donkey and make bad calls.
So I decided I was going to try and 12 table today, and I played like crap. I figured I could do it because I used to be able to 12 table FR playing relatively loose. I ran pretty bad but I started running nonsensical bluffs without much thought because I couldn't follow the action fast enough. Here's an idea of how the session went as a result:
Not pretty. The top pots were AQ vs AK on Axx in a 4bet pot (who called my 4bet for the second time) and turning a set and value cutting myself vs a backdoor FD. However, even with those being ignored and the standard EV beats being taken out, a lot of the $6-8 losses were due to not paying attention. I also witnessed myself missing many value bets on various streets, which is absolutely terrible if I'm going to play so many hands. Looking back on that session, I'd have to say I definitely did not have an edge.
Something I didn't think about is the effective hands I'm physically capable of playing. I convinced myself I could play 12 tables because that would equate about about 850 hands/hr, something I used to do without much of a hitch. However, of those 850 hands, I forgot that I am playing 40% of them. Back when I played FR, I would be playing 20% of the 850 hands (effectively 170) and folding the rest. Someone tell me if my logic is wrong, but that would mean the amount mental capacity I have to put into the 850 hands would be effectively the same had I played 1700 hands back in FR. In fact, probably a lot more since the bottom of my range is way harder to play.
If I'm correct here, then I've been making a huge mistake playing the amount of tables I have been, because I think my mental capacity gets maxed out around 150 non-folded hands every hour.
Anyway, none of that is an excuse for me saying that I'm +EV playing 40/30 or whatever, it's just a little theory that seems to make sense to make sense to me. So what I'm going to do is cut down to 6 fast tables. If that's a bit much, I'll try 6 normal tables or 4 fast tables. If for some reason I get totally bored with that, I'll cut down my stats to a more standard 20/16 or so and play 8-12 tables. Maybe I'll alternate between them or something.
I'll make at most two more blog posts at this limit, and then the next ones at NL50 (or a busto blog post). I'll see if I can make a video for you guys too.
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. Holidays included, hopefully we can hit a million this year. We hit a little rough patch the first few months because of constant shortage in stock and getting design done. You can see there's a big increase in sales month to month, and that's because we were selling a small portion of our inventory until recently (needed to wait for a design + takes a lot of work to put up the way we do it). There's also the issue of operating out of our tiny 3 bedroom apartment.
