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
"Were you aware of any credible threat by Iran against Air Force One?"
@POTUS: "I have a threat all the time. I'm number one on their list, before you — but if I go, you go, right? So perhaps some of you want to change professions." 🤣
Egypt coach Hossam Hassan slammed the officiating after his team’s 3-2 World Cup loss to Argentina.
Hassan said Egypt were the victim of an “injustice” and that he is not going to watch another game in the tournament
🚨CONTROVERSIAL: VAR didn’t call this as a penalty OR a foul in the build up to Argentina’s 3rd goal…
…Egypt had an earlier goal ruled back for a foul in the build up
Kylian Mbappé:
“Sports betting is destructive. It has ruined the lives of some people I know. That's why I refused to appear in sports betting advertisements. Many of us come from the suburbs, and it destroys the lives of countless people there.”