Kanye West's clothing and sneaker brand Yeezy received a loan from the federal government's pandemic rescue fund worth between $2 million and $5 million, helping it save 106 jobs, according to data released by the U.S. Treasury Department on Monday

Ok

helping it save 106 jobs

allah smite these heretics.

hashtag supply side economics

It doesn't say for how long but it's about right for 106 jobs for a year. 106 * $30K = $3.2 mil, doubled to account for benefits and overhead.

I mean the reality is, a lot of businesses that applied for these loans weren't going to need to make layoffs. There was no requirement to prove your business suffered a loss in revenue. Some businesses actually increased revenue during COVID, and were just as eligible for the PPP as the ones who were getting destroyed.

So long as you had a regular payroll in prior years, you could apply for the PPP loan, get the money, pay your payroll (which you were gonna have to pay anyway) and never pay it back. So in many cases it ended up just being a grant to a business that was not under any major threat.

In terms of the Yeezy Boost brand, hard to say where they fit on the radar. Similar companies (Adidas/Nike) definitely saw a decrease in revenue & profit over the past few months. At the same time, Yeezy doesn't operate and brick&mortar stores, and are easily purchasable online.

They probably weren't going to cut 160 jobs, but there's more egregious offenders of the PPP loan program, which in my opinion is defined as businesses who took the loans while knowing their business was not suffering / was improving during the crisis.

I agree, in retrospect we should have given all the money from the program to Kanye just to see what he'd do with it.

Tell him he has to spend it all within 60 days, for the economy.

Obviously. Brewster's Millions with rules about spending it in the US and so on. Make it a reality show for extra profit.

Don’t care, still voting Kanye :-P

It's literally about how they took out the Rona business loan to save 106 jobs . I mean caring about your employees is apparently bad now?

Kanye needed the emergency small business loan relief fund or otherwise he had no choice but to fire 106 people

LOL people actually believe this?

At least be honest and say you think it's funny and don't care or whatever, you sound so naive saying shit like this

If the government is corrupt enough to give loans to a billionaire, any billionaire who rejects the loan is an idiot.

Right UNLESS doing so resulted in bad enough press not to make the grift worth it. I'll let you try to piece it all together on your own.

Implying Kanye isn't r-slurred

You’ll be regretting this reddit comment when King Ye brings about the day of the rope ✊✊

Ye of the rope 2021

I yearn for the day when heretics are strung up by Yeezy laces and put on public display

Now only $200!

Kang Ye gonna let you finish

From the govt's point of view, if an employee gets laid off, govt still has to pay them unemployment, which was supplemented by $600 a week. So for every worker that stays on the job, the govt saves the unemployment expense.

Billionaire or not, if an employee is not earning their employer any money, they will need to be laid off. The PPP loans were basically just supposed to keep the people who were going to be unemployed on payroll, to make it easier to resume business when COVID dies down.

The problem was, the program was rolled out so quickly that it was being used by businesses that remained fully operational and profitable during the crisis. There was nothing to determine whether your business was impacted by COVID or not.

The only requirement was having between 1 and 500 employees, and making less than $2 Billion per year or something. A lot of money went to healthy businesses.

You may not know this, but a lot of businesses have accepted this loan, then laid off people anyways.

I think your racism is showing there man . I think you don't like the fact that a successful black business owner received a loan to keep his employees from being let go.

Lol okay.

Then explain why Mr. West shouldn't be able to receive a loan for his small business if it's not a race thing? Like I said I think you are just jealous of his success because he's a strong and suave black businessman who takes opportunities when they are presented.

because its a conflict of interest you dickhead. If we were friends (which will never happen by the way) and i was the president and you said "hey, i need this to happen" i might say "you know what? this is illegal because you dont count as a small business, but because were friends im going to give it to you anyways instead of giving it to an actual small business that needs it so you can suck my dick in the press" which is illegal, i am using the power of the presidency to enrich my friend (which, again, we can never be friends) which creates the conflict of interest.

I want you to do me a favor, though...

What's wrong with the government helping out Black businessmen? Read the room, dude.

Oh no we can't ever be friends? 😢

how does yeezy not count as a small business

Uh huh okay lol

Hoods slipping down for is all to see man

Keep talkin'

You never answered why a black male, who literally rose from nothing to be as esteemed as Mr. West is, shouldn't be presented the same opportunities as his Caucasian contemporaries. All we see is you saying he and his 106 employees were unworthy of a loan to stay afloat.

Keep going

Are... Are you jerking off to being called out for your racism?

Yes

How much longer do you need you naughty naughty racist?

24 hours

It’s actually pretty funny that people out there are genuinely scared enough by the idea of Kanye running that they’re already trying to shut him down

Who is blacker? Kanye or Obama? 🤔

If you aren't voting for Biden, you ain't black

Kanye isn't voting for Biden

∴Kanye ain't black

He can still run and vote for biden

That was close Biden almost trapped him in that paradox.

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Obama is half white so

😍First Mullato President😍

Kanye/Oprah 2020

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Are mayos scared? I honestly have no idea who the voting demographic for a West presidency would be. If I had to guess, it would be Zoomer Christians that can vote

I voted for him in 2016, but if he actually runs that will greatly decrease the chances I'll vote for him again in 2020.

Nobody because he won't even be on the ballot.

/r/Drama is one of the most reactionary and transphobic subreddits on this website. Their moderators consistently promote this behaviour, and their userbase has been known to harass leftists and brigade their posts.

I created this subreddit as a response to that. All hatred and shenanigans at /r/drama can be catalogued and made fun of accordingly.

There are only two rules: no bigotry and no /r/drama users.

Snapshots:

1. Mayos scared. Anti-Ye shilling is i... - archive.org, archive.today

I am just a simple bot, *not** a moderator of this subreddit* | bot subreddit | contact the maintainers

Check r/kanye. It's also getting compromised by r/politics dudes

/r/kanye always had a love hate relationship with the dude though

Yes but their version of hate is not the same type.of hate from a woke /r/politics user.

Had some r/neoliberal guy tell me that the fact that people are willing to vote for a rapper over 2 presidential daddies is because people are stupid and the DNC is flawless

Maybe he’s right about people being stupid but YE 2020

You would have a hard time convincing me /r/neoliberal isn’t a post-ironic meme sub.

Don't know why neolibs keep seething. Their ideology controls most of the world economically

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They fear the multi million dollar small business owner.

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