STRUGGLING SMALL BUSINESS OWNER FEATURED IN BIDEN AD TURNS OUT TO BE WEALTHY TECH ‘ANGEL INVESTOR’

On Thursday Democratic presidential candidate Joe Biden and his campaign released an ad featuring a Michigan bar owner who claimed that “a lot of bars that have been mainstays for years” will go out of business unless Biden is elected, according to the Daily Wire.

The man, Joe Malcoun, claims the bar he co-owns, the Blind Pig, is struggling due to President Donald Trump’s COVID-19 response. But the Washington Free Beacon reported that Malcoun is actually a “wealthy tech investor whose startup was seeded by a large family inheritance.”

The Daily Wire reported that it was unlikely that Malcoun would lose his livelihood due to the coronavirus pandemic. In 2018, the Free Beacon noted that Malcoun was interviewed on a local NBC affiliate called Click on Detroit. In the interview, Malcoun explained how he had received a large inheritance from his wife’s grandfather a decade ago—an inheritance he said was “almost like winning the lottery.” He reportedly used that money to become a prominent “angel investor” in Michigan.

“Usually you become a CEO and you make money, and then the money allows you to become an angel investor first,” he said in the 2018 interview. “I happened to have different circumstances where I had money [first].”

The Free Beacon also noted that Malcoun had previously blamed the bar’s low business on communication issues.

“There weren’t a lot of people showing up, which is frankly what we wanted and expected,” he said in an interview with MLive. “Now that we tried it and saw it’s really hard to communicate what it means to have a really socially distanced and live music show, we decided it’s not really worth trying.”

It is also peculiar for Malcoun to place blame on Trump when it has been Democratic governors who forced businesses such as the Blind Pig to shut down. Biden has promised to do “whatever it takes” to stop the coronavirus, which would include a national shutdown order. Trump has actively refused to institute such an economy-destroying order.

Malcoun reportedly praised Gov. Gretchen Whitmer’s (D-MI) response to the pandemic. Whitmer has instituted lockdown orders that harmed businesses without slowing the spread of COVID-19.

Additionally, Biden has promised to enact policies that would hurt small businesses like the Blind Pig, including tax hikes and changes to the energy industry that would raise energy costs.

The Free Beacon reported:

Malcoun founded CKM Capital Partners in January 2013, his LinkedIn shows. He went on to invest in “several local tech companies” and became “the go-to guy when it came to seeking investments” in Michigan, according to Click on Detroit.

Malcoun has also served as CEO of customer relationship management service Nutshell since 2014. The company has since received at least $5.5 million in venture capital investments, according to his Crain’s Detroit “40 under 40” profile.

In 2016, Malcoun cofounded Cahoots, a self-described “hub” and “co-working space” for tech companies in the state. The venture saw Malcoun put up the funds necessary to purchase three office buildings in Ann Arbor, according to his Click on Detroit interview.

Biden has also come under fire recently as his son Hunter Biden has been accused of using his position to make business deals with China and Russia.

The Post Millennial reported on Monday: “Emails and business correspondence from Hunter Biden’s associate Devon Archer have been provided to OANN, and show that Archer was engaged in investing funds on behalf of the wife of Moscow’s former mayor at a time when there were ongoing sanctions against Russia.”

It is uncertain how the Hunter Biden investigation will affect his father’s presidential run.

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