The Ledger, every show

“They're spending five and a half billion dollars on operating expenses on eleven billion dollar business that Has no inventory in its asset lights. So, it just, there's 11 and a half thousand employees, and it doesn't make sense.”

“We have the cash accounted for today in terms of, ah, a highly confident letter from our bank for the twenty billion, plus we've got nine billion of cash, so.”

“At some point, the computers are going after the humans, and I don't think it's that far away.”

“Number one is on immediately improving earnings through cutting costs. And Pulling two billion dollars of costs out of the business and on the operating base of, you know, close to five and a half billion of expenses and 2.4 billion spent on sales and marketin…”

“But if you look at in-game digital items, there's no marketplace that is providing liquidity for them. And so I would use eBay to provide liquidity for in-game digital items. And I believe that addressable market is significantly larger than could be much larg…”

“It's over a hundred million bucks.”

“You know, the directors board of directors make four million dollars. It's like 350 to 450,000 per director. There's been no insider buying at the company.”

“I hired a bunch of fancy people from both Amazon and Chewy, and we expanded the catalog, and we added a bunch of product, and most of that product didn't sell, and we ended up marking it down and taking a big hit, and it cost shareholders a lot of money, becau…”

“One thing I know for certain is that the CEOs, if they can reduce their cost structure in the short term, They're gonna replace, they're gonna take computers over humans.”

“Well, when it came to GameStop, originally it was a passive investment and I owned under five percent and the CEO actually reached out to me because they were fighting an activist and they wanted me to join the board.”

“And if you look at SG&A, we've pulled out, we've dropped SG&A by 47%, eight hundred million dollars, by making marketing more efficient, almost turning off marketing.”

“You know, I think that eBay is the kind of business where the future of the business model is more certain than most tech businesses, and that's why it's done so well. And, you know, there's been such a lack of innovation, yet it hasn't been able to be disrupt…”

“My current compensation plan is tied to really lofty metrics, and it's based on the first tranche I've got to double market cap, as an example, just to hit the first tranche, and the 10 exit in order for it to fully invest.”

“In twenty-twenty-one, there were 14, over 1400 people in corporate. Wow. Today, there's, like, 400 people.”

“It's definitely gonna benefit the few that are invested in the industry, but there's gonna be a lot of people that are not gonna benefit from artificial intelligence, so.”

“I mean, if you just look at how they've done in the past since COVID, Every important metric is down. GMV is down. Active users is down by thirty million.”

“Well, that would, so yes, and it would basically take zero dollars in capex in order to something like that, and it's a good idea.”

“SG&A has come down by, like, 50%”

“We've gone from, like, 10% of our sales to over, close to a third, probably, for the full year is gonna come from collectibles”

“So it costs a lot of money to be a public company. We spend a lot of money on audit fees. So that hurt me at Chewy, that hurts me at GameStop. They charge us a lot of money.”

“Powerpacks, physical and digital is very interesting. We can't get enough inventory, so.”

“And we had negative working capital, and so it was a business that was able to get billions of dollars in revenue and not consume a lot of capital.”

“We've got 1600 access points that we can do live authentication.”

“I haven't taken a dollar of salary or any bonuses”

“This was part of what appealed to me originally when I went into GameStop was the leases were short term. So they're like two to three year leases.”

“The video game market is definitely going from physical to digital.”