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Any updates Amir?
Hey everyone, sorry for the delays. Had a very fruitful trip to NYC on Sunday, met with our reps, met with Saj, and got some questions answered:
1) Kingston: I brought up our concerns during the meeting, and it turns out there was a huge misunderstanding. You guys are right, Kingston has nothing to do with NVIDIA memory, and I mixed up two completely separate deals. The memory shortage is still true, but NVIDIA gets their chips from Samsung and one other major manufacturer which you all know but due to the NDA I signed, I cannot disclose.
I take 100% responsibility for this confusion, I completely misunderstood the details of what was being presented to me and then failed to check my doubts with some quick google searches. My background is electrical engineering, so trust me I understand the difference. Just did not look into it deeply enough.
2) Warranty, support, samples, etc: these and all other terms can and will be discussed once we show proof of funds. We operate at or above 100% delivery commitment with the factory and we will not approach them unless we're 100% certain we can follow through. We can't flash big numbers without follow-through, and we can't get to the front of the line unless we have a big enough order. If we put together a deal that's massive enough, we will negotiate favorable terms. Warranty, samples, the whole nine yards. Anybody that's in this industry can tell you, with graphics cards pricing changes every day. We need to move fast if we want to lock down this price and lead time.
What this means for you: All we need is proof of funds. Nobody is asking you to send money to anyone. If 1070ti at $350 is something that excites you, all we need to make it happen is how many you're interested in and proof that you hand the funds to follow through on that order. We have an initial milestone of $20M this week. If we can put together $20M PROOF OF FUNDS by Wednesday/Thursday then we will move on to the next milestone. If we can't get $20M in proof of funds by this week, there is absolutely no way we're going to put together a 100M+ deal in any reasonable amount of time.
The point here is to figure out very quickly whether or not this is going to happen, and if it isn't we should minimize the amount of time we waste.
Progress: We have about $4M in proof of funds to be collected by Wednesday so far. We're meeting and taking phone calls all this week with Miners, VCs, Investment Bankers, and anyone else with deep pockets that's interested in buying lots of cards. 16M to go.
All we need to do is show that we're serious and that we deep enough pockets to back up our interest. From there, we will fight to get the best terms. Once we've locked down terms we pay the factory with credit (not the money you've put in escrow). Once the cards are made, they ship them to us, we inspect, and if all is well we release our funds.
Hope this clears up some confusion. Back to the grind for us. If you need me urgently, try pinging me on telegram @amirofcrypto.
All the best,
Amir
While it's nice to have this additional information again I find myself not able to fully understand what is going on here. This group buy started at 10k units at a total value of $3.5m, the first post (last updated 3 days ago) shows commitments of about 5k units suggesting a status of about halfway.
In this post you indicated that you have commitments for over 11k units already and you are seeking commitments for an additional 45k+ units to even move forward. How are any of us expected to plan our financial commitments when the group buy is drastically changing constantly? Over the last few days the minimum appears to have ballooned by nearly a factor of 6!
