What You Can Learn About Joint Ventures From MrBeast

[Caminsky]

So, a trending news story is the dispute between MrBeast and the ghost kitchen he used for MrBeast Burger. For those not in the know, MrBeast partnered with a company called "Virtual Dining Concepts" to operate pop-up burger restaurants under the MrBeast brand. Well, it turns out the food was downright horrible. MrBeast tried to get out of the contract and is now being sued by the ghost kitchen to the tune of $100 million.

So, what does this have to do with you?

At some point, you may want to explore a strategic alliance or joint venture with another company. Joint ventures are a great way to expand your business and explore new markets. But they also carry risks. Companies need to vet their potential JV partners carefully. Usually, this involves things like:

• Making sure strategic goals are aligned
• Ensuring the JV partner has the capability of performing their role
• Looking for financial or legal red flags

Having an exit strategy and the right termination language is also important if things go south.

I am not saying MrBeast screwed up. For all I know, he may have done everything right and just got a raw deal (get it?).

But vetting potential JV partners goes a long way in preventing disaster.

 

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[Kevin88660]

So, a trending news story is the dispute between MrBeast and the ghost kitchen he used for MrBeast Burger. For those not in the know, MrBeast partnered with a company called "Virtual Dining Concepts" to operate pop-up burger restaurants under the MrBeast brand. Well, it turns out the food was downright horrible. MrBeast tried to get out of the contract and is now being sued by the ghost kitchen to the tune of $100 million.

So, what does this have to do with you?

At some point, you may want to explore a strategic alliance or joint venture with another company. Joint ventures are a great way to expand your business and explore new markets. But they also carry risks. Companies need to vet their potential JV partners carefully. Usually, this involves things like:

• Making sure strategic goals are aligned
• Ensuring the JV partner has the capability of performing their role
• Looking for financial or legal red flags

Having an exit strategy and the right termination language is also important if things go south.

I am not saying MrBeast screwed up. For all I know, he may have done everything right and just got a raw deal (get it?).

But vetting potential JV partners goes a long way in preventing disaster.

I wonder what kind of contract he got himself into.

Getting sued trying to stop using a service provider is strange.

I rather think it is less weird to have Mr Beast suing him for providing burgers that suck.

 

[Caminsky]

I wonder what kind of contract he got himself into.

Getting sued trying to stop using a service provider is strange.

I rather think it is less weird to have Mr Beast suing him for providing burgers that suck.

Depends on the termination language. I'd like to think he had an attorney draft the agreement with VDC, giving him flexibility on terminating the relationship. Unfortunately, I've seen well-known companies that should know better sign horrible contracts.

 

[Xeon]

Everything about "MrBeast" screams shadiness. I've a feeling in the near future all these will be out in the open.
Screenshot my post!

 

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[Caminsky]

Everything about "MrBeast" screams shadiness. I've a feeling in the near future all these will be out in the open.
Screenshot my post!

I've heard that from multiple people, who knows?