Emmet

That is eBay.

So David is going to take over Goliath, as it were, and GameStop is enjoying...

one could argue quite easily an overinflated share price.

And the article that I read in Fortune pointed out that this is remarkably similar to what most of our listeners won't recall or possibly didn't even know happened.

But AOL, America Online, was the

brand of the internet in America in the 1990s and like you only had to it was even part of of pop culture and or like the movie you've got mail was all AOL's branding was all over for Meg Ryan and and Tom Hanks were in a romantic relationship and they were logging on to AOL and whatever so but what AOL did in the year 2000 was they used

It's their wildlyinflated.com valuation to acquire Time Warner.

And in both cases, a smaller, highly valued company, and I say in both cases, bringing it back to GameStop, is using this kind of giant valuation

to try and stabilize your own business by buying a steadier enterprise and issuing huge amounts of stocks and promising transformational synergies.

And the numbers here on the GameStop thing are staggering.

Depending on what final offer lands, GameStop could end up paying as much as $65 billion for eBay, despite GameStop itself being worth about $12 billion.

That was just before the beta emerged.

And just to make the maths, or the math if you're in America, work, the company would need to issue an outlandish amount of new shares, massively diluting existing shareholders while selling the dream of, ah, yeah, but we'll own eBay.

And simultaneously, they're going to take on, or they would need to, should it go ahead, take on tens of billions in debt.

Who would finance that like that?

Honestly, and like a 14-year-old who started to study business in school with an average capability and intellect would go, that doesn't sound like a good marriage.

GameStop and eBay, it's not like a perfect fit.

It's like if you heard Home Depot was acquiring Williams Sonoma, is that the name of the business, the paint company?

Sherwin-Williams.

Thank you.