GameStop

“Mod Retro actually has a partnership with GameStop.”

“This is the lifeline for GameStop. And so basically I think that GameStop basically has to buy Mod Retro for a billion dollars. At least if I was an investor, that's my investment thesis.”

“A fancy way of saying is that it's risk adjusted, and I don't want to lose money, and I want a situation where there's a good chance of making money and a really low chance of losing money, so it needs to be a pitch that is pretty much down the middle.”

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

“They don't come to us as often as you think, because they know, well they probably go to private equity or venture capital or these fancy hedge funds before they come to us, because I want to make sure that I'm I care about cash flow and the price that I pay, …”

“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.”

“I like reducing costs, so if it costs us less money than to report biannually, then by all means.”

“Like, if we can make 80% margins but the upside is limited and it's not gonna move the needle, then I don't care. If it's able to translate into billions of dollars of shareholder value and it's scalable, then we're talking.”

“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…”

“We're not investing in in, in virtual reality or in, in the metaverse, unless there's a clear path to being able to deliver results for shareholders.”

“So, our ability to play in the digital world is limited.”

“There's a lot of money that's being spent, and we've taken a capex light approach, like a pretty risk light approach to the digital world.”

“They can go from green to red, and they don't flash yellow. So when that happens, we'll be in a position.”

“SG&A has come down by, like, 50%”

“So, there's no moonshots that are being done. Like, we're focused on real returns.”

“We want, I'll have a conversation with him that if he's focused on decades and centuries, not on making good luck.”

“The mainstream media thinks they know I'm running the business and they seem to have greater visibility into the business than I do. So everyone has an opinion as opposed to actually just focusing on the results. And in general, the news should just focus on t…”

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

“A board of directors that had perverse incentives, a management team that had perverse incentives.”

“So if we had a choice between physical and digital, because digital is more scalable, we're gonna go towards digital.”

“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”

“A lot of this stuff feels like conspiracy theories that it feels very similar to the Robin Hood, GameStop, Fiasco where there was like a lot of conspiracy theories about like Citadel purposely tanking markets and the bailing out hedge funds at various points. …”

“We're offering half cash, half stock, and we have the ability to issue stock in order to get the deal done.”

“If you pull up eBay's 10 K from February, fiscal 25, and I did not understand this until I read it, eBay spent 2.4 billion dollars on marketing. How many new users did they get for that? I mean, you guys are marketers, you understand. One million. That's crazy…”

“You need physical verification built into the system for agentic commerce.”

“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.”

“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.”

“We made an offer yesterday. 125 bucks a share. Half cash, half stock.”

“We are, we've we have, the return rates are kind of high, but we're building out the retro business in our stores currently. So that's a, it's a, it's still small, but it's a growing category for us.”

“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.”

“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.”

“Yeah, it would be partnering with creators. I mean, they've got the platform, We would improve the platform so it looks better and more consistent with the kind of UI that you have at competitors, but there's the user base. And so it's not something you have t…”

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

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

“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.”