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  "documentTitle": "B. Riley Financial, Inc. (RILY)",
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  "authorName": "Wolfpack Research",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2023-02-08 00:00:00",
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  "notes": "The slide uses a narrative of 'self-harm' to describe RILY's investment strategy, framing the transaction as a circular fee-generating mechanism.",
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      "text": "RILY essentially paid ~$50 million to close the deal so that it could receive ~$50 million in fees on its income statement in what appears to be a circular transaction.",
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      "text": "FAZE US Equity Price Chart",
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      "text": "share price: -94.77%",
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      "kind": "paragraph",
      "text": "FAZE is company that is reportedly fueled by Gen Z hype around video gamers and e-sport pros. Bloomberg News referred to FAZE as “The frat house of the video game industry” in a July 2022 article...",
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      "kind": "title",
      "text": "One of RILY’s Biggest Bets of 2022, FAZE, Is a Disaster of Epic Proportions:",
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      "evidence": "The document provides a solution, or rather, a reason for shorting the company, citing its systemic weakness in equity portfolio and telecom rollup based on obsolete assets.",
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      "evidence": "The document exposes the contradictions in RILY's investment strategy, including its investment in FAZE and its attempt to grow its assets in Q3 2022.",
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