Emmet
👤 SpeakerAppearances Over Time
Podcast Appearances
forming super giant dinosaur ebay so gamestop has decided it wants to own ebay and we thought it would be worth a little chat yeah 100 so gamestop is what like a fifth the tenth of the market cap of ebay
I mean, I read a fantastic piece in Fortune recently comparing GameStop's proposed acquisition, because it isn't a deal done, but it's a proposed acquisition, to this really infamous AOL Time Warner merger.
And honestly, the parallels are fascinating.
Will I give you a quick recount?
steal any thunder, but will I give you a quick recount?
Well, but the core argument is that GameStop, despite this meme stock legacy that most of us out here know about, and there was a movie made about, about it, you know, the one, um,
Anyway, so the core game is GameStop, basically with its new CEO, Ryan Cohen, or relatively new CEO, Ryan Cohen.
No, I tell you, I totally missed that exact memo.
Anyway, Ryan Cohen, he's facing a really difficult long-term future because GameStop really, as a business model, is kind of fundamentally broken.
will remain under pressure forevermore.
And then there's aggressive cost cutting.
And all of these things can only take you so far.
So the theory is that Cone is trying to use GameStop's still elevated stock price as currency to acquire a much larger, more stable, consistently profitable business.