John Foley

It's going to have to be answered later.

And that's the way that we're trying to encourage people to think about this because there's a lot of it.

It's very confusing often when a small company buys a big company and people start saying, well, how can it afford this?

Where will it get the money from?

So what actually is happening here is that GameStop has some cash and is borrowing some cash from a Canadian bank called TD.

This is very like Canada first angle to this because Cohen is Canadian.

TD Bank is Canadian.

So we can blame Canada if it all goes terribly wrong.

So they're raising some cash that way, $28 billion.

The cash isn't like in the bag, but TD reckons that it could pull that together.

And then the rest of it is going to be funded by just printing new GameStop shares, like a billion new GameStop shares.

So what you're doing is you're giving eBay – and you can do this ad infinitum, right?

GameStop can just print shares, print shares, print shares.

The risk that it has when it does this is that it's like the Bank of Zimbabwe printing currency, right?

Yeah, and one with lots of debt.

As well.

So what he's really doing, and what's kind of interesting about this, is what he's saying to eBay is,

We will take your company and put it in my wrapping paper.

So this will be GameStop.

But you, eBay, you shareholders will still own, by my reckoning, about 70% of the new company.