Mike Lindell Says He Lost $7M in Failed Mask Venture Touted by Trump: 'Can't Give Them Away'

[MissMillie]

https://www.msn.com/en-us/news/politics/mike-lindell-says-he-lost-dollar7m-in-failed-mask-venture-touted-by-trump-cant-give-them-away/ar-AALdLyT?ocid=U483DHP&li=BBnbfcL

MyPillow CEO Mike Lindell said he retrofitted 75 percent of the pillow company's manufacturing line to produce cloth face masks during the pandemic, but lost about $7 million in the failed venture after the market became saturated....

...Lindell claimed that he wasn't chasing profit and sold the masks at an affordable cost. Currently, the MyPillow website is selling a pack of 10 masks for a discounted $19.99, about half its original price of $39.98.

During his interview with the outlet, Lindell asked an assistant: "How many of those do we have, that we ought to just burn?" The assistant reportedly told Lindell that they had about two million masks.

**********************************

Well, we all know the man is incapable of counting. He probably lost about $1M, and only has about 100,000 masks on hand.

[Demovictory9]

1. where is his business acumen? face mask market has been over saturated for a year

anyone could walk through a store and see that

[MissMillie]

2. He started this last March

supposedly as charity...

(didn't read the article, did you? )

[Demovictory9]

47. I saw that point later

[olegramps]

31. His loss is the best news of the day.

[getagrip_already]

43. he expected the gubberment to buy them......

He was likely lobbying trump to have the gsa buy them, just like countless other grifters were a able to do with various covid supplies, testing media, and ppe.

[DFW]

3. That he can give his pillows away (much less sell them)

I find that to be nothing short of miraculous.

[grantcart]

11. As does he, hence his overflowing two dimensional religiosity.

He believes the only way an ex crack addict could be this successful is because he adheres to God's instructions.

[Volaris]

20. Um why you say 'ex'?

Have you heard him lately? Hes DEFINITELY still on the stuff lol...

[grantcart]

46. Just quoting him. Beyond bizarre.

[bucolic_frolic]

4. So he was trying to sell masks to anti-maskers who were told the virus was a hoax by Trump

Smart.

Pondering the tax implications of being a charity, then not being a charity, then being a charity again. Does the for-profit side cover costs for the charity side, making for a tax write-off? In effect soaking the government and taxpayers for the charity?

[yardwork]

17. The whole scam is probably a tax write off.

I doubt he ever produced many masks. The assistant with the quote is made up. There aren't two million masks in a warehouse. Maybe 200,000 pillows that nobody wants.

[bucolic_frolic]

22. That hits the nail on the head

I took accounting. Professor always warned there are two realities - the numbers, and the physical goods. You can be fine on paper, but the warehouse is empty because some procedure is not true. Seems to me that was one of the problems behind the fall of Crazy Eddies.

Accountants focus on numbers and money. Physical goods are something else.

[yardwork]

28. Good point! I think the whole thing is a lie.

He's just trying to rehabilitate his image since it's in the toilet thanks to his ridiculous behavior after the election.

[Hugin]

24. Not taking into account the PPP he surely received...

And spent bailing out Kyle Rittenhouse.

"... selling a pack of 10 masks for a discounted $19.99." At two bucks each on discount, when I can get a package of 50 for the same price. He's an idiot.

[oldsoftie]

36. I was thinking the same thing. Just like the vax

Trump is supposed to get credit for the vaccine, but the vaccine is supposed to be a plot to kill us. So then isnt trump trying to kill them?

[Deb]

5. Does Mike have a $7M tax write off? Poor Mike.

[bucolic_frolic]

7. +1

Over-priced pillows aren't selling so cover costs with a different product that you write off at a loss including marketing costs, all to reduce taxes.

How charitable are you if it's all a scheme covered by write-offs where you never actually lose a dime?

[yardwork]

19. Sorry! Just saw your post after I posted above.

Yes, this is something Mike learned from Trump.

[TexasTowelie]

25. Pillow...cover.

You were trying to be funny, weren't you?

[Fritz Walter]

6. Schadenfreude for Mikey

Translation: "Schadenfreude is the most beautiful/sublime joy."
The rest of the quote is: "Denn sie kommt von Herzen." (Because it comes from the heart).

[snowybirdie]

8. So he's complaining

about no one wants his masks. Might have helped him if TFG had urged people to wear them, but NO!

[keithbvadu2]

9. Don't worry, Mikey! The market will be reinstated in August.

Don't worry, Mikey!

The market will be reinstated in August.

Keep the faith.

[Maxheader]

10. fuck lindull..

With all the power of a fluffy pillow. An attention freak...

[Vinca]

12. More lumpy pillow stuffing.

[Archae]

13. He now says he has a divine mission.

Face it, he's on crack again.

[no_hypocrisy]

14. You bet on the wrong horse, Mikey -- again.

[Shermann]

15. His alignment with Trump only cost him $7M USD?

He got off cheap. Look at Michael Cohen and Herman Cain. Mike Pence almost got himself hung by a lynch mob.

[Bernardo de La Paz]

37. In a previous report, he said he had lost half his pillow business. . . . .nt

[Aviation Pro]

16. And this is a problem why?

....fuck him for trusting Bloated Tick.

[George II]

21. Maybe someone can start a "gofuckme" to collect money for him?

[TexasTowelie]

26. I think that Jimmy Kimmel already has that gig going. nt

[Bucky]

23. I can't shake the feeling

... that it's wrong to laugh at this recovering drug addict's misfortune. I mean, technically shifting his production facilities over to making masks was a noble and patriotic thing to do.

Unfortunately all his bizarre behavior and constant spewing of disingenuous and knuckleheaded lies has ruined his public reputation. Apparently no one wants to do business with him.

And how do you not feel bad for his employees?

[yardwork]

27. It's probably all lies. See posts above.

He didn't make millions of masks. He doesn't have a warehouse full of masks. Nobody's buying his pillows because he destroyed his brand, so now he's trying to get a big tax write off and rehabilitate his image.

[GoodRaisin]

30. He should probably rename his business "Republican Pillows"

because he's alienated any democratic market he ever had.

[paleotn]

32. That's only if you actually believe his bullshit.

I don't. His public reputation was built on lies. His products are built on lies. They're nothing but crappy ass, second rate pillows and he's a grifter, nothing more. My sympathy goes to those who may have got caught up in his company built on lies because they needed a job, but other than that, fuck them. Fuck them all.

[MrModerate]

29. Are those the ones with the "Spit on me, I'm Deplorable" slogan printed on them? n/t

[paleotn]

33. Lying liars and the lies they tell.....

and the more lies they tell the bigger and more crazy the lies become.

[Paladin]

34. Yet another trump sucker meets his justly deserved fate. (nt)

[Beastly Boy]

35. He admits he has failed in selling water in a desert

at a time when his competitors made a killing. I am very impressed.

[llashram]

38. good

I hope this POS ends up begging for more in a homeless shelter. After what I had to endure from ignorant hateful racists in the last few days, no more free passes for these trumpiss POS.

[PatrickforB]

39. Some of these business people, who otherwise seem fairly on top of things,

just became whack jobs under the Trump administration.

Lindell is a traitor, though. The axe needs to fall. He attempted to help Trump in the coup. Let us NOT forget that. Ever.

[TlalocW]

40. Early on in the pandemic

I sewed cloth masks for friends and family and then started making them for JoAnn Fabrics which were donating them to hospitals while there was a shortage of N95s. That program alone distributed over 200 million masks, and by the time I was into my second batch, you could see the market getting saturated so I politely ignored my friends who said I should start selling them.

TlalocW

[GoCubsGo]

41. The asshole would rather burn them than give them to India,

Last edited Sun Jun 20, 2021, 12:49 PM - Edit history (1)

or Haiti, or some poor country in Central America, Africa or south Asia, where they could really use them right now. That tells you all you need to know about this piece of shit.

You lost $7 million? Boo fucking hoo.. You still have enough to run your shit commercials all over the place. I saw that stupid thing at least twice on GMA this past Friday. Con man got conned by another con man. Serves him right.

[Delarage]

45. That was my thought!

Maybe his orange buddy could fix up his private jet and send them to people who need them, since they're so great. But nope---never a thought about anyone else. Pathetic losers with money.

[malaise]

42. More more

lose more you fool

[Yo_Mama_Been_Loggin]

44. Winning Baby!!!!

[ProfessorGAC]

48. Well, He Lies About His Net Worth

And, he lies about how many "good paying" american jobs he's created.
So, his lying about the scope of this loss would be par for the course.
Also, carrying a Debt:Equity ration of over 5, he didn't lose $7 million. He lost around $1.1 million.
His creditors lost the other $5.9 million.

[liberal_mama]

49. Sounds like a bad business decision. Decent people don't buy from his company and

a lot of Trumpers won't wear masks.

[Midnight Writer]

50. Wait til he realizes he lost his soul.