John Foley

He's just gone out with it in public, said, here's what I want.

If you're not interested, eBay board, I'm going to try and do it anyway by going hostile.

It's fascinating.

Well, GameStop was once a chain of video game stores.

And it still is kind of, but it's a much shrunken version of that.

What it really is now is a pile of cash.

So Cohen has been using the meme stockiness of it to issue convertible bonds and raise cash.

So he now has about $9.5 billion of cash.

And the idea is that at some point he would invest it in something that would make lots of money.

So he has this cash, right?

And the idea is he'll spend it on something and he's decided that eBay is the thing.

And there is a fig leaf of industrial logic to this because eBay, so GameStop as well as selling video games and secondhand video games is also doing a lot of collectibles like trading cards and things like that.

eBay is also doing a lot more of that.

One of the fastest growing parts of eBay is now collectibles and also trading cards.

So his theory is that if you put them together, you turn his stores into kind of eBay real world outlets and you focus on more like live streaming sales and you also sell more kind of expensive trinkets.

So think like really expensive luxury fountain, pre-owned fountain pens.

He thinks this is going to make eBay grow even faster.

And he also thinks that he's really good at retail cutting costs.

So he's going to cut eBay's costs.

Whether any of that is true is the big question that