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How is GameStop still in business? Worthless establishment
- Thread starter BonnieMcFarlaneMe2
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The majority of 2021 baggots accepted their losses, sold, and moved on. What remains is a gaggle of some of the most retarded people in the country trying to interpret secret messages in children's books and tweets from their loser CEO as to when the stock will be worth millions and the company will overtake Amazon.
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Weird because it seems like such an outdated business. I feel like a lot of people still like to actually shop for clothes too.
How did that start?
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4chinz /b/ board back in the day would have threads encouraging people to call gamestop and ask for battletoads.
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Hahah but why?
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I don't think there was ever a real reason, it was such an obscure and shitty game with a funny name. Have you ever played it? Game sucks.
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No, I’ve never even heard of it.
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It's a beat Em up where you play as a toad walking around fighting other toads. I remember it being very difficult because the hit boxes are so bad.
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Yeah, there's this group of complete drooling retards who think the January 2021 GameStop "squeeze" wasn't the "real" squeeze, and believe it's going to soar to infinity at any time now. Meanwhile, the CEO keeps bilking the living shit out of them, and they worship him and beg for more.
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PC gaming is gay.
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I thought it was because Battletoads was an old NES game so it would never be at stock at Gaystop.
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I made a lil something from GameStop and AMC. A lil taste.
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Thats part of it too, yeah
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Most of the the down payment on my house was juiced out of that meme frenzy
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I lost loads of money on Bitcoin (but it in cold storage so the man couldn’t seize it and then lost it), I made a lot of money on trump the first time, lost a load the second time, and then stopped being a retard with money and only did a few 100 on the meme stock stuff.
For most people the only sensible thing to do with money is save it and spend as little as you can.
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Where do gaming chairs and little dollies factor into this.
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I needed an office chair because my old one was broken, and I got a decent office chair and spent like 200 extra for the branding? I’m not rich but 200 is half a days work, who gives a shit?
40k is expensive for what it is, but it’s still like 50 bucks now and then for a new set, and provides countless hours of relaxing craft and gaming, so it’s not actually expensive.
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This is mostly the answer.
I'd add a couple of things:
- There are quite a few companies that theoretically "sell stuff" but are basically just investment banks that happen to own some real estate. For instance, I could never figure out how Hewlett Packard still exists. They don't sell servers and storage anymore (they spun that off to HPE) and the market for printers in 2024 is nothing like it was in 2004 or 1994. Turns out that Hewlett Packard makes a lot of money off of selling their real estate. Apple's headquarters sits on land they acquired from HP. One of the biggest tech campuses in all of SoCal was HP's printer manufacturing facility in Rancho Bernardo CA. They sold that to Apple too.
- GameStop doesn't own it's stores for the most part, AFAIK. But they can pull a different stunt, which is that they can strongarm landlords into buying them out. Sears used to do a shit ton of this. Basically, they didn't own their stores (for the most part) but their lease terms were really generous. So they'd get landlords to buy out their leases. If you're wondering why the landlords don't just run out the clock, that's because commercial leases are anywhere from 5 to 99 years long. Kmart acquired Sears (not the other way around) and a lot of it was because Kmart had shit tons of 99 year leases: https://www.yourerie.com/news/local...t-plaza-remains-empty-future-plans-undecided/
So there's a good chance that their retail leases are ridiculously cushy. That's just how it was back then; malls and strip malls were new. They were being built on land that was nothing but dirt surrounded with more dirt. Since the land was 20X cheaper in 1980 than in 2024, the landlords could offer them really low lease prices, and some of those malls and strip malls are likely "stuck" with GameStop.
You see this repeat with dozens of retail stores. Macy's is another one. They had a dead ass store in San Diego, and the owner of the mall basically had to pay them to go away. I'm sure the mall owner never imagined that retail would basically become a ghost of it's former self, nobody saw online commerce coming in 1980.
But this has also attracted a ton of investment banks and hedge funds, since they looooooove buying up distressed assets and then squeezing all the juice out of them.
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Based Meltdowner