Brian Ludden

But no, it's huge. I mean, I would speculate that it easily is in the 200 million range globally. Yeah.

But no, it's huge. I mean, I would speculate that it easily is in the 200 million range globally. Yeah.

I could explain it to you, but I think you'll be just as confused. I mean, there's so many levels of this thing. It's like if the mafia was working with the KGB, with the FBI, it's like a card is produced, right? We know they get printed. They get printed, they go directly into a box. That box goes to a distributor, to a wholesaler. The wholesaler sells it to the local card shops or breakers.

I could explain it to you, but I think you'll be just as confused. I mean, there's so many levels of this thing. It's like if the mafia was working with the KGB, with the FBI, it's like a card is produced, right? We know they get printed. They get printed, they go directly into a box. That box goes to a distributor, to a wholesaler. The wholesaler sells it to the local card shops or breakers.

I could explain it to you, but I think you'll be just as confused. I mean, there's so many levels of this thing. It's like if the mafia was working with the KGB, with the FBI, it's like a card is produced, right? We know they get printed. They get printed, they go directly into a box. That box goes to a distributor, to a wholesaler. The wholesaler sells it to the local card shops or breakers.

And then no one else knows, no one knows where those cards go after that. But we get to follow it. So when there's a new release, we'll see the scans and we know who has what cards and where they live and how many were bought. Did you buy and sell any? But the layers to get product is insane. It's inefficient.

And then no one else knows, no one knows where those cards go after that. But we get to follow it. So when there's a new release, we'll see the scans and we know who has what cards and where they live and how many were bought. Did you buy and sell any? But the layers to get product is insane. It's inefficient.

And then no one else knows, no one knows where those cards go after that. But we get to follow it. So when there's a new release, we'll see the scans and we know who has what cards and where they live and how many were bought. Did you buy and sell any? But the layers to get product is insane. It's inefficient.

Yeah.

Yeah.

Yeah.

I mean, you know, Fanatics controls the the baseball, the tops. And then you have Panini for another year or so with basketball and football.

I mean, you know, Fanatics controls the the baseball, the tops. And then you have Panini for another year or so with basketball and football.

I mean, you know, Fanatics controls the the baseball, the tops. And then you have Panini for another year or so with basketball and football.

Yeah, I mean, and those cards, people just don't love non-licensed stuff.

Yeah, I mean, and those cards, people just don't love non-licensed stuff.

Yeah, I mean, and those cards, people just don't love non-licensed stuff.

Yeah, I mean, you get a Caleb Williams unlicensed and you're like, it looks like he's in street clothes and he signed it. And it's like, whatever, it's worth like a fifth of what Panini would be. But I think this industry, I think Panini and Fanatics, I think they should have done the deal. And the stories I heard, they couldn't figure it out. And I think that's hurt the industry.

Yeah, I mean, you get a Caleb Williams unlicensed and you're like, it looks like he's in street clothes and he signed it. And it's like, whatever, it's worth like a fifth of what Panini would be. But I think this industry, I think Panini and Fanatics, I think they should have done the deal. And the stories I heard, they couldn't figure it out. And I think that's hurt the industry.

Yeah, I mean, you get a Caleb Williams unlicensed and you're like, it looks like he's in street clothes and he signed it. And it's like, whatever, it's worth like a fifth of what Panini would be. But I think this industry, I think Panini and Fanatics, I think they should have done the deal. And the stories I heard, they couldn't figure it out. And I think that's hurt the industry.