Billy McFarland is the founder of Magnises, which purports to be a credit card for millennials but is not actually a credit card—it's basically a membership where you pay a few hundred dollars annually to get a card that is made out of metal but is still linked to whatever bank you normally use. So, sort of like an iPhone case, but for your debit card, that costs hundreds of dollars a year. Already sounds like a great deal, but that's not all. Members also receive "networking opportunities" (with other members), discounts at unspecified stores, and access to parties at "the clubhouse," a rented townhouse in Greenwich Village. Also, Ja Rule is a brand ambassador.
Since the party space is the only part of any of that that sounds like anything, it follows that McFarland is now being sued by the landlord he rented it from for, essentially, ruining it. The landlord claims that the space was "maliciously vandalized," resulting in $62,000 in damages.
· Tech bro sued for trashing $13K-a-month West Village pad [NYP]
· Listing: 22 Greenwich Avenue #TH [Streeteasy]