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GameStop appoints chief technology officer and two additional executive hires

news.gamestop.com

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Re: GameStop appoints chief technology officer and two additional executive hires

#161

Post by piquadrat »

pc86 wrote: post #157
piquadrat wrote: post #47

Earlier quoted context omitted.

The fact that Robinhood had to emergency-raise $3billion to be able to put up the collateral with their clearing houses should be enough indication that a lot of retail traders were engaged in these highly volatile stocks. See e.g. https://fortune.com/2021/02/02/robinhood-gamestop-restricted...

Robinhood uses its own, internal, clearinghouse.

They say otherwise on their blog[1]:

"Clearinghouses are SEC-registered organizations that act as the central depository for securities. They keep a record of the stocks owned through a brokerage. Clearing brokerages, like Robinhood Securities, are members of clearinghouses."

"The amount required by clearinghouses to cover the settlement period of some securities rose tremendously this week. How much? To put it in perspective, this week alone, our clearinghouse-mandated deposit requirements related to equities increased ten-fold."

https://blog.robinhood.com/news/2021/1/29/what-happened-this...

Re: GameStop appoints chief technology officer and two additional executive hires

#162

Post by foxyv »

Corrado wrote: post #37

I was thinking recently about how GameStop might pivot. They have retail locations, which a lot of companies don't, so they should take advantage of that. Some examples I have thought of include: * put 3D printers in the stores and sell custom objects based off of your gamer profile. * convert the stores into a gamer bar and show eSports tournaments. * host LAN parties or move into tabletop games

The problem is their stores are too small for anything other than retail. Otherwise they could pivot to selling snacks and becoming a local hangout like a Starbucks for gamers.

Re: GameStop appoints chief technology officer and two additional executive hires

#163

Post by iso1631 »

wegs wrote: post #140
iso1631 wrote: post #70

Earlier quoted context omitted.

> Turning businesses around is HARD. Not turning them round is harder.

Not really: * CEO gets a golden parachute and finds a new job. A competent CEO will always find a job. A turn-around is risky, and a failed turn-around will have exposes and will ruin a career. Easier to stay-the-course. * Workforce is laid off, struggles for a few weeks, and usually finds new jobs. The layoff sucks, but turn-arounds involve equal layoffs (and indeed can be harder to find jobs after; my employer went…

If your goal is to keep the company going, you have to adapt to survive. Yes it's tricky, and you can simply jump off the bridge if you want, or you can actually try.

Vultures might want to pick the bones, and many owners might not care, but some do.

Of course if you think it's hard you're free not to bother.

Re: GameStop appoints chief technology officer and two additional executive hires

#164

Post by thatguy0900 »

Rebelgecko wrote: post #88
rsstack wrote: post #41

Earlier quoted context omitted.

It's a public community. Did you open it even once? People (yes, people other than the one guy who started it) post screenshots from their investment accounts.

I wonder how many are authentic and not just inspect element

Why do you not believe people didn't jump on the free money hype train? It's not like redditors havent gathered together to do stupider things before. The fact that almost every easy to use trading app had to limit buys on gme specifically should tell you that it was not a small thing.

Re: GameStop appoints chief technology officer and two additional executive hires

#165

Post by thatguy0900 »

Macha wrote: post #158
volta83 wrote: post #35

Earlier quoted context omitted.

I see often stated as a fact that "a lot of retail investors from WSB bough a lot of GME shares", but I never see any proof about any of this. What's the proof that any retail investor actually bought GME? How many retail investors actually bought GME? How much money did they win or loose?

Obviously it's anecdotal, but several of these people were my friends and coworkers. Some even set up trading accounts on the wake of the news (mostly the ones that were in late and lost money). Most went in small for the lols and made/lost a couple of hundred bucks, but there was one who did make a few thousand dollars, and given how much (starting when the share price was much lower) he shared during the process, I…

It was pretty easy to make money if you got in at 200 and bailed above 300, you had a lot of time to do it. It's the people who listened to the diamond hands 10k+ nonsense that got screwed

Re: GameStop appoints chief technology officer and two additional executive hires

#166

Post by pc86 »

piquadrat wrote: post #161
pc86 wrote: post #157

Earlier quoted context omitted.

Robinhood uses its own, internal, clearinghouse.

They say otherwise on their blog[1]: " Clearinghouses are SEC-registered organizations that act as the central depository for securities. They keep a record of the stocks owned through a brokerage. Clearing brokerages, like Robinhood Securities, are members of clearinghouses. " " The amount required by clearinghouses to cover the settlement period of some securities rose tremendously this week. How much? To put it in…

https://robinhood.com/us/en/support/articles/whats-clearing-...

Re: GameStop appoints chief technology officer and two additional executive hires

#167

Post by Corrado »

llarsson wrote: post #80
musingsole wrote: post #46

Earlier quoted context omitted.

Your 1st and 3rd idea, maybe, but they'd be moving into a territory filled with competitors. It's hard to imagine my local tabletop tavern crowd migrating to a corporate equivalent. Gamestop pivoting to a gamer bar seems incredibly unlikely. Retail is not restaurants -- the business logic is all sorts of different -- and likely zoning issues would prevent many locations from suddenly becoming restaurants.

E-sport enthusiast are, as a group, sadly not very good patrons. They stay very long per visit and order very little food and drinks (relative to the extent of their stay). This is because many, if not most, if them will be teenagers or in their early twenties, and unruly enough to drive the more financially stable 30+ crowd away. So you will have all-night events showing StarCraft 2 or whatever, and only refill a bu…

Maybe this idea needs to mature a bit. I think eSports is going to be the future of sports in general. Normal "sports" bars do quite well (well, maybe not right now) and I expect eSports bars to follow suit.

But who knows, maybe now is not the right time. Besides, most GameStop locations are pretty small and not really zoned for a bar. It was an interesting thought though.

Re: GameStop appoints chief technology officer and two additional executive hires

#168

Post by Traster »

rpadovani wrote: post #131
op00to wrote: post #121

Earlier quoted context omitted.

You do know how easy it is to go into developer mode, inspect element, and make things say whatever you want to say, right? How do you prove that was not done?

Occam's razor: that dude started back in May to provide data and screenshots, I don't see feasible that somebody faked data for so long hoping to achieve what?

I'm not sure you can really argue occam's razor is that this guy just makes incredible bets on stocks. Surely the simplest answer is: People on the internet lie.

I'm not saying I feel strongly either way, but I think peopel on the internet lying is a pretty simple explanation.

Re: GameStop appoints chief technology officer and two additional executive hires

#169

Post by Corrado »

throwanem wrote: post #110
sjg007 wrote: post #61

Earlier quoted context omitted.

That 3D printer build a bear idea sounds like a good one. You could have shops just doing that.

Doesn't 3D printing take a lot of time, though? Especially for complex prints - I'm not directly involved, so I might be wrong about this, but I've definitely seen print times quoted in double-digit hours often enough that it doesn't surprise me any longer. Between that, the typical need for hand finishing, what I gather to be extremely significant capex for machines capable of printing fast in multiple colors, and t…

My thought was to partner with game companies and get access to the users avatar(s) [Halo, CoD, Cyberpunk 2077, PubG, TF2, etc.] This way you already have access to the 3D model and can just print them all day long. Even better, hook into the console's "store" and make it an option to buy online. Then when they come into the store to pick up their 3D printed key-chain, bobble head, belt-buckle, doo-dad you can upsell them on other things.

NOTE: I tried to pitch this to a former employer of mine and they didn't really see the market.

Re: GameStop appoints chief technology officer and two additional executive hires

#170

Post by Corrado »

mdip wrote: post #138
Corrado wrote: post #37

I was thinking recently about how GameStop might pivot. They have retail locations, which a lot of companies don't, so they should take advantage of that. Some examples I have thought of include: * put 3D printers in the stores and sell custom objects based off of your gamer profile. * convert the stores into a gamer bar and show eSports tournaments. * host LAN parties or move into tabletop games

I hear ya. I have a bit of nostalgia for the brand, myself, though did not participate in any of the stock situation. It's a tough spot. (1) 3D Printing -- really good idea; I'm rehabbing my 3D printer for my kids, this evening, so they can print Among Us characters. If I didn't have a 3D printer, I might consider that sort of option, but I'd probably go online first. And that's kind of the problem they need to find…

For 3D printing, see this reply: https://news.ycombinator.com/item?id=26018507

I really like the idea of a "Teen Dance Club". There is honestly no place for young people to hang out. We used to go to the skating rink or walk around the local shopping mall, but the rinks are almost all gone and malls have made being a teenager illegal.

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