Any reasonable person could see this was a ridiculous clown show, put on by the ridiculous clown show meme stock company.
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001326380/0...
"We are asking our stockholders to approve an amendment to our Third Amended and Restated Certificate of Incorporation, as amended by the Certificate of Amendment dated June 2, 2022 (the “Existing Charter”), to increase the number of authorized shares of our common stock to 2,500,000,000, and correspondingly increase the number of authorized shares of all classes of our stock to 2,505,000,000 for the reasons discussed below. Our Existing Charter currently authorizes the issuance of 1,000,000,000 shares of common stock and 5,000,000 shares of preferred stock."
Edit: Also, the fact that company leadership can get away with this kind of thing, fleecing retail investors for millions/billions of dollars, and face no consequences is...I dunno. I guess it's just normal now. Lawlessness, bribery, favors to the right politicians, lying without hesitation or remorse. People in media clutching their pearls over whatever the Gen Z kids are getting up to on TikTok while this shit is going on is just the icing on the cake.
Or was this a 2022 thing and Gamestop investors have moved on from diamond handing?
I hate that this shit goes unpunished. Though, I guess the apes got mad as hell at anyone that tried to talk them down, or did anything to slow the bleeding.
The apes did get punished though? And the hedge funds correctly took advantage of irrational behavior by other actors in the market. This is how price-finding in the markets is supposed to work, I can barely call that "evil".
(I couldn't believe myself at first seeing things like these happening and this clip in particular, how does one get millions of dollars for such an disastrously wild interview to me feels quite off to me)
Then I watched the video.
> I would trust that guy to make a sandwich.
Don't worry, we are just trusting him with around a measly 11 billion dollars.
This isn't even the worst part by the way, somehow the worst part to me feels like there are people who watched that interview and then somehow got even more convinced within this person/gamestop and publicly glaze him.
To them, I have a question like, are we watching the same interview? How can anyone watch that interview and then consider it in any way positively or anything like that, like huh, have we watched the same interview?
Perhaps some of us at first (like within that HN discussion) were/are trying to justify as if it is some massive brain effort by gamestop or anything and its a 5d chess move ,but to me, this interview showed me what the reality is actually.
It's pre-ChatGPT, so people actually wrote all this out (they are reddit posts disguised as books)
https://fliphtml5.com/bookcase/kosyg
Also an fun long form video for anyone interested
It all comes down to a belief in "trolling". Once you assume that your chosen individual might act stupid on purpose, you lose the ability to discern between actual stupidity and fake stupidity. GameStop enthusiasts see that interview and assume Cohen is mocking the interviewers as a show of intentional disrespect. They think he's not actually clueless, just trolling.
Unfortunately, this sort of belief is self-reinforcing. Once you get over the hurdle of believing in trolling the first time, the next instance seems completely plausible. Every time it happens, you become more convinced that the person engages in a pattern of trolling — after all, you've seen it so many times! You don't realize that the source of your belief is not accumulated independent evidence, but a chain that rests on a single link.
eBay’s biggest issue is their declining online shopping marketshare. They’ve gone from owning nearly the entire market to just losing it.
The reason why it’s worse now is that automation of the scammers got better, it was more of a manual job back then.
So, if they have a ton of scammers now, I would think customers are not being that impacted, and I would have also thought that eBay wouldn’t have too hard a time getting the sellers to pay the refunds, since they tend to withhold the funds from sellers until a little while after the delivery is confirmed.
I can't believe all those hundreds of thousands of listings would continue to exist if there weren't some kind of pay off. Somebody's got to be making money somehow, as it's been happening for ages.
Also, it makes searching difficult. Can't really sort by price anymore, because the lowest prices are almost entirely scams.
It's just a much less pleasant platform when half the listing are fake. This is most extreme on GPUs and RAM, of course, since that's where the feeding frenzy is happening, but it's true of many categories with expensive goods.
The buyer protections don’t really vary much, but it’s true in some countries they get more protections but it’s more regarding to buyer’s remorse rather than Items Not As Described.
> or otherwise get paid via some unprotected method
At least in North America (and maybe everywhere else), you’ve been required to pay via eBay for all transactions for the last decade or more. No more money orders, bank transfers, cheques or wire transfers or cash. And you can’t easily contact sellers/buyers directly anymore, it’s all through the platform and they block a lot of suspect messages/keywords.
I like to pay the cheapest price humanly possible but there’s often value in just paying the shipping and online premium. As a seller, it’s easier to put up a posting whenever I feel and stuff it in a box and label it only when I have cash in hand.
+ there’s some geo-arbitrage for sellers: chances are the person willing to pay the most isn’t local to you.
EBay is still more friction than Amazon and eBay commissions are like 16% these days so eBay’s completely lost the giant pie that is mass-manufactured goods.
As opposed to GameStop, which is a literal meme?