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GameStop CEO Cohen spurns $35 billion pay plan to focus on plan to buy eBay (www.reuters.com)
submitted 3 weeks ago by sanitation@lemmy.today to c/technology@lemmy.world
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[-] Lost_My_Mind@lemmy.world 26 points 3 weeks ago

Gamestop knows they serve no purpose in the gaming world anymore. What's the point of buying physical, when it's just a disc with the game version 1.0, and manditory day 1 updates? It makes it essentially a digital download with ewaste.

Ebay on the other hand has a future still existing.

Right now gamestop is a glorified novelty shop with a video games and pop culture theme. They know that business plan won't last.

Ebay on the other hand, I can't see any reason why they would be interested in anyway in this lowball offer.

[-] zod000@lemmy.dbzer0.com 14 points 2 weeks ago

The main remaining purpose of buying physical is that you can lend, gift, or sell the game after the fact, and the recipient can then do so as well . This is part of why the GTA 6 plan of selling a code in a game box for $80 and calling it as "physical copy" is such a slap in the face.

[-] ryathal@sh.itjust.works 9 points 2 weeks ago

GameStop could actually help solve some problems eBay has. GameStop has stores everywhere that can serve as pickup locations to avoid theft problems. GameStop has humans that can help with scam offerings where fake items were sent, or verify an item is intact before returning so a seller can't lie about it being broken. eBay can become a supply source for collectables or whatever products GameStop wants to focus on in stores. They could sell a membership that lets you have items shipped to your store for inspection before purchasing or something like that.

[-] Sineljora@sh.itjust.works 8 points 2 weeks ago

I just want to point out that the offer isn’t lowball. The EBay board is still selling all their shares and GameStop is currently buying eBay shares on the open market at $105-$110 when the offer was for $125.

[-] BassTurd@lemmy.world 19 points 3 weeks ago

I lost all respect for Cohen when he went crypto. The meme stocks were a wild ride for a while, and he sounded like a good CEO when they brought him in, then he shit the bed. Good riddance.

[-] agamemnonymous@sh.itjust.works 2 points 2 weeks ago

Eh, the crypto move was pretty reasonable actually. It's not like they were pumping meme coins, they were trying to build a marketplace to trade digital assets, which is probably the most legitimate application of blockchain. And in any case it seems like they've abandoned the idea for now.

Not sure how you can say he "shit the bed", the company's only gotten more profitable under his direction.

[-] BassTurd@lemmy.world 2 points 2 weeks ago

When I say shit the bed, I don't mean from a business perspective, I mean I think he's a toolshed for the crypto stuff, so in my eyes he shit the bed.

I think crypto is a cancer, so anyone that's creating coins and actively pushing the tech is a douchebag. Even if they abandoned the idea, that doesn't do anything for me. I'm assuming they dropped it because it wasn't benefiting them enough to keep at it, not for some altruistic reason. Trust is hard to earn back. Wasn't also NFTs not just crypto? NFTs are the dumbest tech ever invented, so anyone that was apart of that, on either side of burning or selling, is a dumbass and makes bad choices.

On top of all of that, the worst part of all of it, is he's a Trump thumper and endorsed him. Anyone in that boat is bottom shelf trash, regardless of their business practices, and I will do everything in my power to not only not support them, but to lambast them at any opportunity. Shaming pedophile supporters should be an American past time, and I'm here for it.

[-] agamemnonymous@sh.itjust.works 2 points 2 weeks ago

NFTs would be the digital assets available for trade. In the test marketplace, it was mostly the standard "unique" pictures, but that was just for testing. The idea was to use NFTs as a proof-of-ownership of a digital asset. Instead of a picture of a monkey or something, they'd be like activation codes or in-game assets (skins, guns, etc) with the goal of creating a secondary market for digital assets. There was also the potential to use them for smart contracts, so that the original creator could get a percentage every time one of their assets was sold on the secondary market.

As for the Trump thumping, the only thing I saw was that tweet that said "TRUMP" a bunch, and considering the timing the consensus seemed to be that he was trying to exploit the algorithm. I haven't seen him actively endorse Trump, though admittedly I haven't been following very closely the last couple of years. It would be somewhat out of character for him though, he has been consistently vocal against Wall Street shenanigans, particularly predatory shorting and market manipulation.

[-] jownz@lemmy.world 7 points 2 weeks ago

GameStop power packs can't get enough supply. eBay has that supply. I think he'd do a great job with eBay! The GameStop turnaround is definitely worthy of some admiration.

[-] Sineljora@sh.itjust.works 6 points 2 weeks ago

I’d also add that some of the eBay board members are still there from that harassment scandal where eBay sent a couple a bunch of threatening messages… bloody pig mask, live cockroaches, a funeral wreath, a book on how to get over the death of a loved one, eBay had employees show up and plan to put a tracker on their car and vandalize their home. None of those people have purchased one eBay share either.

[-] nullroot@lemmy.world 1 points 2 weeks ago

This guy is like actually insane

this post was submitted on 24 Jun 2026
72 points (98.6% liked)

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