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Twitch streamer Felix "xQc" led the discussion while Ludwig and TheStockGuy listened as they deliberated on Felix's strategy to rescue FaZe Clan from its downward spiral. For context, FaZe Clan's stock has been on a downward trend since its IPO in September 2022. The stock closed at $0.50 on June 2023, down from its high of $24.69 on September 2022.
xQc hypothesized that he would remove FaZe Clan's present content creators and esports teams if he were in charge:
"Fire all employees that do content"
xQc blueprint to "save" FaZe Clan
e Clan has been under major scrutiny after recent financial losses (as outlined by co-owner FaZe Rain). In the first quarter of 2023, the company reported a net loss of over two million dollars - its third consecutive quarter of losses.
xQc, however, hypothesized that had he been at the helm, he would encourage a hostile takeover. Here's what he had to say during his June 3 stream:
"Okay, it's a simple concept. Tighten up the ship, fire all employees that do content, production, everybody out, out of the job. Most esports teams under contract, all canceled. All fired. Do legacy cost, whatever they have left on their contract, write it out."
(Timestamp: 14:35:40)
Suggesting more steps that he would take, Felix said:
"Get a really strong core of top content creators, YouTubers, streamers, go together and merchandise, brand, produce at the core and work your way down to genuine content and results and you work your way down and you stop doing esports sh*t because that sh*t is garbage."
What the fans said
The Canadian streamer's thoughts on rescuing FaZe Clan spread rapidly on the popular r/LivestreamFail subreddit, accumulating over 100 comments at the time of writing.
Fans also chimed in with their opinions on the gaming organization's financial predicament, and here are a few noteworthy responses:
Some users noted that Felix's recent pitch had a noticeable impact on the stock price, causing it to rise from $0.51 to $0.57. One user said:
The appointment of actress-turned-streamer Grace Van Dien to FaZe Clan has stirred up additional drama surrounding the organization. This move has faced criticism, particularly from FaZe Rain, who has been engaged in a month-long feud with her. You can read more about why Grace Van Dien is feuding with FaZe Rain.
