Ryan Cohen

We would improve the platform so it looks better and more consistent with the kind of UI that you have at competitors.

But there's the user base.

And so it's not something you have to market.

It's building out better tech.

and partnering with creators.

So in terms of the competitive landscape on an acquisition, I think there was some people circling around a few years ago.

Nothing happened.

The strategics can't really do it because I don't think that they would be able to clear antitrust.

So any of the large competitors wouldn't be able to acquire it.

I don't think that we would have any regulatory issues getting clearance on a merger.

In terms of the efficiencies, GameStop is a good example.

GameStop is a dog, and it could have been dead.

We've breathed a lot of life into this thing.

right and you look at sgna we've pulled out we've dropped sgna by 47 800 million dollars by making marketing more efficient almost turning off marketing i mean everyone knows gamestop everybody knows ebay so you talk to the marketing people that tell you like it's gonna tank revenues and all of this and the reality is

Most of that marketing spends isn't making money, but everyone's trying to protect their jobs and there's kickbacks, there's all kinds of perverse incentives.

And so I'm running the business like a family business.

It's really not that complicated.

And you look at eBay spending two and a half billion bucks to grow one million users, two billion in cost cuts between sales and marketing and corporate overhead.

It's not a lot.

And it's not something that's going to take a few years.