Tobi Lütke: Legitimate short sellers provide a valuable market service
Tobi L–tke · Shopify CEO Tobi Lütke: Remote Work vs In-Person; The Benefit of Setting Constraints | E997 · 20VC with Harry Stebbings · Apr 3, 2023 · at 46:26
Tobi Lütke, co-founder and CEO of Shopify, responds to host Harry Stebbings asking why he confronts short sellers online, clarifying his stance on legitimate short sellers versus bad-faith manipulators.
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“I think short, short sellers are an important part of the market. I go after one specific one who's like a, like short and distorted bad faith actor, who is like this end to a left fool, who is like just unbelievable, that guy. So I, this is just like, Hey, if you make a principle decision that a company is overvalued and like you short the stock, you make the, you play the game of Wall Street. Again, I don't really care about the game of Wall Street very much. But like you're playing the game and I like the scheme exists and therefore you like, if that's the best way to play it, like play it. And if it has converged the stock market value on the fair market value of the business, then actually you, you're providing a service.”
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