There you go haters. You got your apology.
That was an apology? Sounded more like "gaslighting" to me.
For the record, I have nothing personally against Haze. I've never been a customer, and I've had no interaction with them. I've only used their products from friends. Personally, as a vaporist, I think the "Square" is among the best all-time general ideas in vaping. I would love to meet the imaginative person who came up with the idea because it is pure genius. All my portable vapes suck as real stealthy portables, because loading vapes in wind, on the run, etc, is a pain. To simply turn something, when another delicious bowl is desired, is more than just a "convenience" improvement -- it is or could be a paradigm shifter.
As economist's say great product IP, poor execution.
So my problem with them is the way they went out of business, something that does impact me and others, albeit indirectly. Nothing necessarily wrong or illegal with a "going out of business" sale, and using holiday sales promotions to get a extra revenue so a business
loses less money at shut down. In fact, it is a smart strategy I respect and recommend. And it's ethical
**IF** consumers are told beforehand and therefore the sale will be "as is" with no warranty explicit or implied.
Ethically, by my values, and legally by their presumably binding merchant bank agreement, and the FTC, and numerous legislation and regulation, anyone that bought over the holidays did so under false-pretenses. They bought something that was significantly different than advertised -- certainly no ten year warranty! They possess a moral AND legal right to a full refund funded by Haze's merchant bank. And the exercise of this right does not make a person unthankful, unappreciative, or mean, or unfair to Haze... the attempt to guilt-trip and narcissistically
gaslight notwithstanding. (Saying how much their customers meant to them in the past while almost in the same breath ripping recent customers off, I do find insulting as a consumer).
It is NOT about Haze, it is about their ripped off customers.
If they had a "rolling reserve" imposed upon them, there are only a few reasons for this. Either their financials were so bad at application, the bank required it, or more probably they got into "chargeback" trouble".... as a merchant's chargebacks approach 1.5% of total charges, banks start to get nervous.... if a merchant goes over that critical ratio, the bank's hammer will eventually come down and they will require a written and executed chargeback mitigation program, and if exceptionally worried, a "rolling reserve" meaning the bank "holds" a portion of their sales in an seperate account... it is their money but they can't get to it for six months.
Regardless, I was pleased to hear that all shipments were shipped, but by definition, the products shipped were worth less than what customers bought (unless one would argue the odd notion that an unsupported Haze product is worth more than a supported one?).
Tangent FYI on warranties for those interested:
I teach an whole university course on "Assurity Economics" (lots of statistics!) and the "expected cost" of warranties can be exceptionally high. Obviously, if maintenance costs on the warrantee exceed profit from sales, the business MUST eventually shut down. As a merchant banker, we see "long warranties" as red-flags, not as symbols of a virtuous company proud of their product. Diligent underwriters will want to see the mathematics justifying it, because so very often long warranties are used as a manipulative device to increase demand short-term. Almost literally, every internet product scam involves a long or even lifetime warranty.
Indeed.... headspace calculating... I have a Puffco Peak that I do like, warts and all, but if I was hired to price a "ten year warranty" for it, the number would be somewhere around $1000 I suspect.... near three times the price of the unit. Actual Puffco warranty: 1 yr. Actual Puffco Atomizer warrantee: 3 months.
Sounds about right. lol