Athletic personality Joel Macdonald discloses his resort to hallucinogenic substances following his squandering of a $200 million fortune in a scandal, harshly criticized by a prominent judge.
Revamped Tale:
In an informal yarn, ex-AFL sensation Joel Macdonald spills the beans about his wild, post-career detour into the mystical realm of magic mushrooms – a move triggered by the steep fall of his multi-million-dollar tech biz, GetSwift.
MacDonald, a Brisbane Lions and Melbourne Demons alum (40 and fabulous!), took a chance on tech start-ups in 2017. A posh lifestyle ensued, but everything took a nosedive when a Federal Court judge deemed the former athlete-turned-mogul had his eyes on the dollar bills, rather than his legal responsibilities as a director.
"Lost 200 million? It was frickin' brutal," Macdonald opened up in a YouTube chat. "I was 30, Australia's youngest CEO, living a VIP life, dining at fancy restaurants, jetting off on first-class flights. Boom! Gone!"
The Aussie Securities Exchange halted trade for GetSwift due to allegations of market manipulation. Macdonald admitted to misleading statements and unveiled losses of major contracts. The authorities weren't pleased, slapping him with a record-breaking $15 million penalty and another million in damages. Ouch!
In addition to the financial repercussions, the court handed down a 12-year ban on managing corporations for Macdonald. The court disclosed that GetSwift wooed investors by employing an unlawful PR strategy, prioritizing self-promotion over transparency.
After the fall, Macdonald battled personal demons, including rage and depression. It was during these lows that he dabbled in magic mushrooms as a means to cope. He also delved into journaling, meditation, and therapy – all part of his quest to rise from the ashes.
Today, despite his fortune, Macdonald focuses on his new YouTube channel, offering hope for those grappling with setbacks, darkness, or simply looking to make a global impact. As he puts it, "If you're in a rough spot, want to turn your life around, or simply strive for greatness, this channel is for you!"
[1] Macdonald admitted to using magic mushrooms as a coping mechanism after suffering financial losses and personal challenges due to the collapse of his tech business.[2] The collapse of GetSwift led to legal issues, including a penalty decision in 2023 related to the company's practices.[3] Macdonald has shared his story to offer insights into dealing with setbacks and personal struggles.
[4] In response to his past mistakes, Macdonald has expanded his interests beyond business and technology, exploring areas such as health-and-wellness, mental-health, and therapies-and-treatments.
[5] For those seeking guidance on overcoming hardships, Macdonald now offers advice on his YouTube channel, blending topics of personal development, mental health, and entrepreneurship.
[6] Given his passion for sports, particularly football, Macdonald could potentially draw parallels between the European leagues and Premier League and the ups and downs of business and life.
[7] Despite significant setbacks, Macdonald continues to pursue a new lifestyle that combines elements of science, finance, and sports, striving to make a positive impact on others and himself.
