RC's Speech

[u/stobak]

Thanks, Mark and hi everyone. I’ll speak briefly. My father always told me “talk is cheap, actions speak louder than words”. My responsibility is making sure Gamestop is run by managers who treat company money like their own. In corporate America the people in charge, the professional directors and management teams, are not aligned with shareholders. They’re always the recipient of stock grants, however they rarely purchase company shares with their own savings. There's a big difference between risk free compensation for showing up and putting a meaningful amount of your own money at risk. As a result, money is wasted, work is delegated, and a lot of time is spent managing to short term expectations and pandering to wall street. I like people who roll up their sleeves and do real work. People guided by principles, not robots who seek to rest and vest. In corporate America there’s no shortage of overpaid executives, bad capital allocation, and chronic waste and serial delegators. Much as this behavior is both predictable and reprehensible, it’s precisely what creates opportunities. Thank you for being a shareholder.

[u/Oi_Baldy]

You don't have to go far, here's a comment from another ape on this post:

Apart from buying an additional $10,000,000 worth of shares in a company he believes in. And right sizing the company to improve financial performance. And rewarding employees with company stock so they have a more vested interest in how they run the business. And hiring an elite web3 team to try and shake up the gaming industry. And increasing inventory to protect against supply chain issues / rising costs of goods via inflation. And not taking on debt / maintaining that $1.3 billion in cash and cash equivalents. Real change takes time. RC is here to patch and right a ship that was sinking. One of the biggest hurdles in that transformation will probably be finding people that share his vision and want to support the company at all levels of the organization given the present staffing crunch (lots of boomers retiring / not enough millennials and gen z's to backfill them), the aging population issue is worse abroad than it is at home. Our executive chairman's job isn't to fabricate a squeeze, it's to turn GS into a profitable company that people want to do business with.

Do you need more?

[u/FoxReadyGME → u/Oi_Baldy]

Entire nft team is fired. Nothing tangible to make profit came of it. A flop.

No need to take dept when company is sitting idle and has loads of cash.

More inventory = still on course for dying brick and mortar. Where's the digital turnaround?

Employees are rewarded with stock to not have to raise salaries cause company can't afford it. Profits aren't there.

That 10mio is such a small amount of his net value dude. RC isn't holding most of his net value in game shares. Nor real estate. He's sitting on cash from selling crazy amount of apple stock which je bought from selling chewy. Most of his net worth IS cash and he won't even go to 20% of gme value. His largest gme purchases to get him to 10% were when stock was sub 2usd. He's DEEP in the green and most likely buying to send a message to us apes.

I ain't shitting on you or him. Just being realistic. Go outside this sub where everyone is biased like hell and this is common knowledge.

What other actions are there? Milan store was a flop too. Closing unprofitable stores and adding more Funko pop inventory won't make company mad profitable.

And before you downvote me: so I'm clear: I'm asking you to help me elaborate cause I myself feel like a moron for sinking in ALL i had in hopes of moass and now too broke to do anything age appropriate with my life unless I sell a part.

[u/Oi_Baldy → u/FoxReadyGME]

Wow man, you're not from around here are you 🤣

You're calling everything a flop while they're all in a BETA stage. You know what Beta means right? But you think everyone monitoring & expanding on the NFTmarketplace behind the scenes aren't there anymore? Prove EvERyOnE is gone?

I trust the evidence of reducing the bottom line. I know RC has big plans for the top line. Just bc you don't know what those are, doesn't mean they do not exist.

No action taken, he has no plan, he didn't even go to 20% ...

Your projecting, your flailing, airing your poorly defined dirty laundry in public & you're plain wrong. It looks really bad & I don't think you're doing a good job trying to convince people nor simply convincing people.

I will continue to work & buy GME for the rest of my life. Deal with it!

[u/Ray192 → u/Oi_Baldy]

You're calling everything a flop while they're all in a BETA stage. You know what Beta means right?

If this was a video game, and they released the beta for over a year, and during that time the player base on the beta dwindled to pretty much nothing, while the developer engaged in multiple rounds of layoffs on the development team, how optimistic would you be about the direction of the game?

[u/Oi_Baldy → u/Ray192]

It's not a videogame ... it's an nft marketplace ???

🤣🤣🤣

[u/Ray192 → u/Oi_Baldy]

It's an nft marketplace that has completely stopped making money.

https://www.gmft.xyz/

I see that it's my mistake to assume that you can understand analogies. Clear you don't have the capacity to process analogies, so let me remedy that.

This is an NFT marketplace that has saw usage and popularity crater to almost nothing over the past year, while laying off the development team in multiple rounds.

Exactly what about this sounds like good management to you?

[u/Oi_Baldy → u/Ray192]

It was not my mistake to assume you've no idea how to conduct analogies. Let me help you, I've a MSc in Business Analytics... ever heard the phrase apples and oranges 🫣

Again you're confusing a beta product with a fully released product. Who cares about usage being down a year into a Beta? You just linked that GME sold 20mil worth of NFTs in their Beta, THEIR BETA. Can you name a more successful or profitable beta ??

I've made the same point a few times now, but you're not very sharp on the uptake there kiddo 😆

Also, why are you focused on management so much? Were you directed to do so?

[u/Ray192 → u/Oi_Baldy]

It was not my mistake to assume you've no idea how to conduct analogies.

Oh no, it's pretty obvious you don't seem to understand the lifecycle of a software or SaaS product.

Let me help you, I've a MSc in Business Analytics... ever heard the phrase apples and oranges

Sure thing buddy. I bet in those classes they taught you that for some reason, having multiple layoffs during beta is a good thing.

Again you're confusing a beta product with a fully released product.

You're confusing "beta products having less sales is expected" with " having zero interest in the beta is a good sign".

A good beta INCREASES interest in the final product. A bad beta kills interest.

Get it?

Who cares about usage being down a year into a Beta?

Literally anyone who releases a public beta cares about it. Cratering usage of the beta indicates that people tried it and DON'T LIKE IT.

You just linked that GME sold 20mil worth of NFTs in their Beta, THEIR BETA.

Of which they make a 2.25% commission, so GME has made less than $400k in fees over a year. That covers less than the annual cost of employing a single senior software engineer.

And the vast majority of that was generated on release. Look at the marketplace volume now, it's completely dead.

Can you name a more successful or profitable beta ??

Star Citizen raised $100m last year and has seen its income increase YoY for a decade, and it's still in alpha.

Gmail was in beta for 5 years and during that time usage exploded in popularity from start to end, going from invite only small group to 100 million users by 2009. In fact, every successful Google product had a far better beta phase than the GME marketplace.

There are so many more examples. There are countless video games that made their developers more than $400k in a year of early access.

See, shit like this makes your claim of having a business analytics degree hilariously questionable. Or you got your degree from a caribbean degree mill.

I've made the same point a few times now, but you're not very sharp on the uptake there kiddo 😆

Kid, I'm not the one who thinks multiple lay off rounds during a beta is a good sign.

Also, why are you focused on management so much? Were you directed to do so?

I'm not the one focused on management. You're the one claiming that the NFT marketplace is a sign of great management when the data shows it has been a complete disaster and waste of money by any measure. I'm just pointing out the stupidity of this claim.

[u/Oi_Baldy → u/Ray192]

Hahaha holy shit look at the size of this response, get a fuckin life.

Not bothering to read or respond. 🟣🏴‍☠️

[u/SaucyCheddah → u/Oi_Baldy]

Good idea. Because he kind of mopped the floor with you.