Ryan Cohen: “Why Does Everyone Want GameStop to Fail?”
$GME CEO @ryancohen:
“The media is an example. Why is it that you've got a ($EBAY) management team with no skin in the game, they're not builders, they haven't built anything themselves before, they've basically just been employees at major companies, they’ve been overpaid, I don't think they've ever broken out a sweat in their entire lives, why does everyone want them to succeed?
But when you have someone that, and by the way, I'm putting $500M of my own money into this transaction, I haven't pulled a penny out of GameStop, and it seems like everyone in the media basically wants us to fail, and wants them to succeed.
And you've got a board that's making hundreds of thousands of dollars a year. They don't buy stock with their own money. They end up showing up to a handful of board meetings, and they're making a fortune. You've got a management team that is grossly overpaid, taking zero risk.
There's nothing more American than basically risking your own capital. So why does everyone want us to fail?
@friedberg:
“I do think that the media, in order to give you credibility, they're gonna have to acknowledge that all of their takes on GameStop just being a meme stock were wrong, and that there is actually a business here, and that there is value being created here, and that they missed that, and they got the story completely wrong.”
--------------------------------------
Thanks to our partners!
Most advertisers have never heard of the platform with an $11B annual run rate in ad spend. AppLovin Ads — 1B+ daily active users, full-screen video ads watched for a median of 35 seconds, and businesses are profitably spending hundreds of thousands of dollars a day on it. Advertiser access is in closed beta. The window is open at https://t.co/h9SzJOL6wj
Nasdaq - Positioned at the nexus of technology and the capital markets, Nasdaq provides premier platforms and services for global capital markets and beyond with unmatched technology, insights and markets expertise. https://t.co/M4axvGYyrT
Ryan Cohen says he's putting in $500M of his own money into the $GME $EBAY deal and also addresses the media hate towards GameStop in newest interview 👀
FULL INTERVIEW: @ryancohen explains his plan to acquire eBay.
He unpacks his pitch to institutional investors, why eBay is so horribly run, and how Ryan plans to create billion in shareholder value.
$GME $EBAY
If I was an executive at @ebay I'd be very worried right now
If I was a shareholder of $EBAY I'd be down right pissed
Sleepy, corporate management has been complacent in its duties of not only growing the business but providing value to its customers and consumers. The CEO and the insider ownership of the company seem fine with taking 100s of minions of dollars from the company in exchange for running frat parties and harassing customers who complain about their experience rather than addressing any of the legitimate issues and gripes they have with eBay
Shareholders should be upset because the management of eBay is doing you a disservice. They're happy to collect their next $250,000 weekly pay cheque while exclaiming that Gamestops offer isn't serious enough. They're happy to continue to let the company run itself through its buyers and sellers, rather than take the reins and drive the business towards delighting it's customers and making it's sellers feel like they're getting a great deal by using ebays platform
If Gamestops offer is "not attractive" as the eBay executives wrote, I'd be concerned as a shareholder. What is attractive? Burning $7 billion dollars a year for "research and growth?" Creating a culture of day drinkers that don't/can't do their jobs? Executives being paid 100s of millions while getting personal access to private company planes? Or how about the complete and total lack of ANY customer support both buyers and sellers on eBay have to deal with?
I believe this is the part where the bugs begin to scatter as Ryan sheds a little sunlight on the situation
All I know is, id rather have a CEO making $0 and is busting his ass to make the company I work for awesome, vs having whateverthefucks taking $25-50 mill a year in "bonuses" for changing the color or the font on the app to slightly less black in 6 years
$GME $EBAY