E commerce veteran Steve Tan (2006 OG, Facebook ads pioneer, 7 figure months, $360K days) joins Jeff for Fargo Talks’ first ever remote episode from Bangkok. Steve lays out his full journey early eBay wins, two brutal startup failures, the 2016 dropshipping comeback, and scaling service businesses (China fulfillment doing 20–40K orders/day, ~600 staff; an email agency credited with $300M+ in client revenue).
Then we get into the headline: the rise and fracture of Capital Club with Luke Belmar from vision and viral growth to red flags, ego creep, a contested buyout, and a lawsuit. Steve details the money in, the money out, and the moment he realized the public persona didn’t match the private reality. He also shares what this ordeal did to his family, and the mindset that kept him grounded.
What we cover
Steve’s zero to seven figures arc and the $360K/day that shocked ecom
Building massive ops: China fulfillment (20–40K daily orders), multi warehouse footprint, 600 team
Crafting a 100K member Facebook community and a checkout SaaS that processed $1B+ for merchants
The Capital Club origin story, launch mechanics, and expectations vs. execution
Red flags, reputation vs. reality, and the turning point that broke the partnership
The alleged competing venture, term sheet standoffs, admin lockouts, and holding the line
Legal action, mental toll, and why his bond with his brother is stronger than ever
Lessons for founders: partner vetting, cash flow control, ego management, and staying authentic
Disclaimer: This conversation reflects Steve’s personal account and allegations as discussed in the interview.
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Connect:
Steve Tan:
Instagram: https://www.instagram.com/heystevetan/
X (Twitter): https://x.com/heystevetan
Facebook: https://www.facebook.com/heystevetan/
Website (Super Tan Brothers): https://www.supertanbros.com/
Jeff Fargo:
LinkedIn: https://www.linkedin.com/in/jefffargo
Facebook: https://www.facebook.com/JeffreyMFargo/
Instagram: https://www.instagram.com/jeff.fargo/
TikTok: https://www.tiktok.com/@jeff.fargo
Website: https://www.fargotalks.com/
Spotify: https://open.spotify.com/show/2XNPy9lHShiTqLyYTVQf4w?si=d3fb7d2c4d58471e
Apple Podcasts: https://podcasts.apple.com/us/podcast/fargo-talks/id1692311068
EP shot by Level 9 Studios, LV
https://l9slv.com/
#podcast #stevetan #lukebelmar
