economy
March 4, 2026
Small investors turn on James Watt after BrewDog co-founder admits ‘many mistakes’
Watt apologises to 200,000-plus ‘equity punks’ who joined crowdfunding rounds but were left empty-handed after cut-price sale
TL;DR
- BrewDog co-founder James Watt apologized to small investors ('equity punks') after the company's £33m sale.
- Over 200,000 crowdfunding investors who put in £75m received nothing from the sale to Tilray Brands.
- The sale's terms, influenced by an earlier private equity investment, left crowdfunding investors with little chance of a return.
- 484 staff lost their jobs as Tilray Brands only acquired 11 of BrewDog's bars.
- Critics accused Watt of profiting from earlier deals while leaving crowdfunding investors with losses.
- BrewDog's decline was attributed to five years of losses and controversies regarding company culture and staff treatment.
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