Anthony Venturini

📚 In yesterday's Poll 78% voted on more clarity w/ the GME/EBAY deal. If you have any questions, fire away. $GME $EBAY 💸🏦🎮 Full Breakdown in Layman's Terms: -GME's offer to buy EBAY is at $125 share price -Ebay's market cap at that price will be $55.5billion (444m outstanding Ebay shares x $125 stock price) -Additionally you have to add in eBay's outstanding debt = $8 Bil -Then subtract their outstanding cash = $5 Bil -For a net total of $3 Bil, added to the $55.5 market cap -Ebay will be purchased for a total of roughly $58.5 Billion Deal NOT Possible Today: -Ebay is currently 2.5x the market cap GME. 450m outstanding shares x $24 stock price = $11B -This is not nearly enough money to afford Ebay at $58.5 Bil (even with cash added), and this is what Andrew Sorkin on CNBC was asking Ryan Cohen SO LET'S MATH: -In June 2022 GME shareholders voted to authorize 1 Billion total of outstanding shares -Anything more than that, will require another shareholder meeting/approval -They then executed a 4-for-1 stock split via stock dividend -GME's current outstanding share count is 450m, that leaves only 550m to be diluted under current limits -If Ryan dilutes 550m at GME's current stock price of $24, he only raises $13b -Again, he needs $58.5Bil PAYING FOR THE ACQUISION: -Ryan communicated he will use HALF CASH, HALF STOCK, but the numbers don't allow for it. This is why he was playing stupid on CNBC >>HALF CASH Total (Roughly $30B): -GME's current cash = $9.4B (plus potentially any more he gains from the warrants by Oct 30th, could be up to $2 Bil if all 59m Warrants become exercised -Marker from TD Bank = $20B "highly confident letter of approval" which is up in the air on good faith >>HALF STOCK ($28 Bil): -Dilution of GME's remaining authorized 550m agreed in writing to be directly sent to EBAY shareholders currently adds up to $13bil ($24 stock price x 550m) -Ryan needs $28B total (Ebay market cap + debt - cash) from dilution -He is still short $15B. Exactly what Sorkin was pressing him on YOUR ANSWER AND FIX TO THIS PROBLEM: -This is when the POI angle comes into play. With zero knowledge of the Ebay acquisition, the past 1.5 years I've stated GME's super macro top run was $50-70 with a chance to blow off top around $100.You now have the narrative to make this a certainty. >>WHY?‼️ -If Cohen dilutes the remaining allowed 550m shares at an elevated share price of $50, he makes $26Bil, not $13Bil (double price, double the money). And all of that will go directly to Ebay shareholders. He knows this is coming because he knows where the swap roll dates are (as do I). He works for BlackRock. -This leaves you a total of $56.5B, still short $2Bil. -The last $2Bil needed comes from all warrants being exercised. Which confirms the entire POI sequence of $33-37 by Oct 30th at a minimum. **Finally, Ebay shareholders once merged, will exchange their current shares for shares of the new company, helping the math of the merger be finalized with less spending. Game. Set. Match. ⚡️

The Hollow Men American capitalism is rotting from the head down. We have replaced the "Owner-Operator"—the risk-taker-with a new, parasitic class of corporate bureaucrat: The Risk-Free Insider. By "Insider," I am not referring to a specific title. I am referring to the entire administrative state that has captured the modern corporation. This includes the Directors who exist solely to collect fees, the Executives who exist solely to collect bonuses, and the Managers who exist solely to hire consultants. These are the hollow men of the boardroom. They are masters of PowerPoint. They wear the right suits. They say the right buzzwords about "governance" and "ESG." But they are mercenaries fighting a war with someone else’s ammunition. In a functioning economy, authority is tied to liability. If you make a bad decision, you lose your own money. That fear of loss is the only thing that keeps a business honest. It forces you to cut waste, obsess over the customer, and stay late to fix what is broken. Today, we have severed that link. We have rigged the game so that heads, the Insider wins; tails, the shareholder loses. If the stock goes up, the Insider collects a massive performance bonus. If the stock crashes due to their own incompetence, they are fired with a "Golden Parachute" worth tens of millions. They are gambling with the house’s money, and they never leave the table poorer than they arrived. This looting starts in the boardroom. We have normalized a "Country Club" culture where directors are selected based on social profiling rather than their ability to build a business. The modern board member is often a professional tourist—paid an average of $350,000 a year. Let’s be brutally honest about what that number represents. The average director is paid nearly five times the GDP per capita of the United States. They earn more for attending four quarterly lunches than the vast majority of Americans earn in five years of hard labor. And for what? Most of these directors are "over-boarded," sitting on three or four boards simultaneously. They treat directorships as a gig economy for the elite. They fly in, rubber-stamp a compensation package they didn't read, and fly out. They collect checks from companies they do not understand, do not use, and certainly do not love. They are not there to ask hard questions. They are there to be collegial. They are there to protect the other Insiders. And what happens when these boards hire executives who also have no personal capital at risk? We get the Delegation Economy. When a Risk-Free Insider faces a crisis—bloated expenses, a broken supply chain, or a stale product—they do not roll up their sleeves. They hire a consultant. They pay a strategy firm millions of shareholder dollars to produce a 100-page deck telling them what they already know. This is not management. It is intellectual money laundering. They use shareholder capital to buy an insurance policy for their own careers. If the plan fails, they can blame the consultants. They delegate the work because they are terrified of the responsibility. They would rather preside over a slow, comfortable decline than risk a bold mistake. While American Insiders are busy optimizing their severance packages, our global competitors are optimizing their products. They are not slowed down by bureaucracy. They are not waiting for a slide deck. They are outworking us. If we continue to fill our C-suites with administrators instead of operators, we will lose our edge. We will see iconic American franchises hollowed out by fees, managed for the benefit of the Insiders, while the true owners—the shareholders—are left holding the bag. The time for polite governance is over. If we want to save the American economy from mediocrity, we must demand a return to the "Owner’s Mentality." We need leaders who treat shareholder capital with the same reverence they treat their own savings. The era of the Risk-Free Insider must end.