@Craig1Osullivan Lad gives up 5x more goals than he creates. But ok. Let's be happy. Not knocking his WC achievement. But he ain't hiding behind his mistakes at Spurs as easy as he can with Spain.
StubHub's CEO has been scalping his own customers for years
Eric Baker is the CEO of StubHub and he also built Andro Capital on the side, a hedge fund that acquires tickets and sells them on StubHub
He also made sure Andro Capital got a better deal than every other seller on the platform:
• Andro Capital: $0 in seller fees (2024-2025)
• Everyone else: 20% commission
In 2023, StubHub ended a deal where Andro Capital had been operating as an inside ticket inventory partner and paid Andro Capital $1,600,000 to do it
He then created Colloquy Capital to finance other mass scalpers buying and flipping tickets on the same platform
The Texas AG, Consumer Protection BC, and two class-action lawsuits are all investigating
The CEO of StubHub exposed in SEC documents to own a hedge fund thats scalping millions of tickets on StubHub making a fortune
Everything is a scam
“StubHub bills itself as an online marketplace for fans where they can buy and sell tickets, but it turns out that StubHub CEO himself also has a hedge fund that is scalping millions of dollars worth of its own tickets”
“The company went public on the New York Stock Exchange last fall. They had to file documents to the Securities and Exchange Commission, and in those SEC filings, we find some interesting information. The CEO, Eric Baker, actually owns and manages a hedge fund by the name of Andro Capital.
Its business: selling millions of dollars worth of tickets on StubHub — So essentially, StubHub and its CEO are in the business of mass scalping”
Here’s a step by step of how the scam works
- StubHub CEO’s Andro Capital buys large numbers of tickets, sometimes in bulk from primary sellers, other brokers and events
- They then list and sell those same tickets on StubHub at much higher prices
- When fans buy the tickets, Andro makes a profit on the price difference, this is the scalping markup
- StubHub helps them by handling the listing, pricing and delivery of the tickets, sometimes with special arrangements or lower fees for Andro
The result is millions of dollars in ticket sales flow through Andro on StubHub, and the profits go back to the hedge fund that StubHub CEO Baker owns and manages
It means with his big money and influence he can move in early, gets the tickets for events, then mark them and rob everyone blind