living my best life
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Joined March 2016
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Definelegit retweeted
i think worlds invites are a lot like graduating college. having money gives you a huge advantage, no question. but having an advantage isn’t the same thing as it being impossible without it. some people just have to work a lot harder to reach the same goal.
Definelegit retweeted
The way @michaeljburry is interpreting this stock award package makes no sense.
@ryancohen has the OPTION to buy $GME shares at $20.66. As he meets each milestone, he can buy more shares at $20.66. If the stock is trading anywhere near $20.66 or under, his package is worthless.
They are not normal options that have premium that you can trade with other investors. They merely give him the privilege to buy shares with his own money at 20.66.
So if Ryan hypothetically diluted shareholders by 10x, and the share price remained the same, his package would give him zero benefit because he would just be buying shares at the same price everyone else can.
That makes zero sense.
The only way his stock award plan makes sense is if he gets share prices much higher than $20.66.
$EBAY
Burry on substack about $GME
Regarding GME: Hypothetical my solution may be, yet it is remarkable how a scalpel can be used differently than a meat cleaver. The reason I put so much thought into my structure.was not to make ir complicated. I wanted to avoid dilution and recourse debt, and I felt Ryan would want to maximize his ownership of the combined entity. I also was interested in preserving NOLs. All while achieving similar post deal EBITDA to more debt heavy, dilutive approaches.
As well, I took the challenge as breaking new ground and revolutionizing capital markets strategy at face value.
Perhaps I just thought it was obvious that maximizing function while minimizing blood loss ,and recovery time would be the goal.
What is happening instead makes perfect sense. Ryan is following the incentives before him. His compensation package by focusing on incentivizes on market cap and EBITDA obvious incentivized 10x dilution of shareholders while guaranteeing that in that event, he would mostly be kept whole.
While most GME bulls are taking this as that 100B market cap is a 10x type of incentive for shareholders, Ryan is proving the opposite. The whole structure, if done twice, gets him a stake 10x more valuable by diluting shareholders 10x. His proposal is almost halfway. By done twice, I mean he would do eBay then do a similar trick again.
Ryan is promising huge cost cuts and massive jumps in profitability. This also makes sense. It is the Wall Street playbook. If eBay doubles its EBIT margin of 20% to 40%z, it would be on par with Meta and 50% better than Alphabet.
But it will would not get eBay to a spot where it could pay off the debt in a few years, as Ryan is promising.
The debt level needed to get this deal done would likely take 7-10 years to pay down and even then only if all capital was directed to such a task.
My solution would have broken new ground and would have required a CEO in full control of its board to ignore the incentives in his new pay package. Makes perfect sense that did not happen.
It almost never happens. Which is why Warren Buffett is so respected.
Definelegit retweeted
Dear eBay $eBay shareholders,
We urge you to support @ryancohen and GameStop in the acquisition offer.
In addition to your insiders/board directors:
1) not buying ANY shares the last 5 years…
2) selling $120M worth of stock the last 5 years…
3) we are willing to bet there is NO board member / insider that uses eBay as an actual user on the platform.
Ryan Cohen, meanwhile, has been an active eBay user for the last SIX YEARS!!!
He grew up on eBay.
It’s meaningful to him, and he’ll treat it like a family business. He’ll own it forever.
Ryan will take $0 salary, and he will *most likely* (speculating here) continue to buy shares with personal capital.
He has done this consistently with $GME since taking over.
If push comes to shove, support Ryan.
There aren’t many CEOs of his caliber.
You won’t regret it.
Definelegit retweeted
The people running eBay bought $0 of stock in the open market in the last 5 years.
eBay insiders sold more than $120M in the last 5 years.
Definelegit retweeted
They can't keep acting like being trans isn't a mental illness that too often turns violent. If you deny basic reality, it's to be expected you know no bounds.
We can't let this story disappear. Innocent people DIED.
It is now being reported that the Pawtucket, Rhode Island Hockey Arena shooter was transgender.
Add it to the list:
- Tumbler Ridge shooter was transgender.
- Annunciation Catholic Church shooter identified as trans
- Nashville Christian shooter identified as trans
- Lakewood Church shooter identified as trans
- Colorado Springs shooter identified as non-binary
- Denver shooter identified as trans
- Aberdeen shooter identified as trans
- Iowa high school shooter trans activist
- Charlie Kirk’s assassin Tyler Robinson had a furry obsession and lived with transgender boyfriend
- Trump’s attempted assassin Thomas Crooks used they/them pronouns, had a deep interest in furries, and was exploring gender identity.
Radical gender ideology is pushing unstable individuals toward violence and targeting innocent people.
Trans violence is an epidemic and the threat is escalating.
Definelegit retweeted
You deported 3.1 million illegal immigrants and oversaw 5.3 million total removals and returns. Now you’re sowing division over removals that were also your policy, in an effort to help expand today’s vigilante behavior. You should be ashamed.
Definelegit retweeted
“America, understand this. I’m a black man in America. I walk around with a 19 on my hip… I don’t go impede law enforcement carrying out their duties.. I mind my business.”
“No harms comes to me and my family because I mind my business.”
All of this!! It’s that simple 🔥👇🏼
Definelegit retweeted
I would like to thank @GavinNewsom for being my official fact-checker on the issue of Dems giving illegals "free" taxpayer-funded health care.
Definelegit retweeted
🚨 WOW. Minneapolis Mayor Jacob Frey with the BRUTAL self-own.
"Imagine if your town was invaded by thousands of agents who don't share your values!"
He just made the argument against mass migration.
You literally can't make this up.
RESIGN.
Definelegit retweeted
BREAKING: President Trump demands passage of the “SAVE AMERICA Act,” requiring citizenship for all elections nationwide.
Definelegit retweeted
Two more Left-wing talking points have been proven false with more video footage:
a) Renee was just dropping someone off.
No, she wasn't. Clearly she was there to harass ICE and block traffic with her car. You can see her dancing to her horn in the car.
b) She was in the process of trying to leave.
Again, ABSOLUTELY NOT. She was obviously there to stay and impede ICE.
Anyone saying that Renee was accidentally caught up in the ICE raids or was in any way not engaged in ICE-harassing activity is a liar and every single piece of evidence now has completely debunked that claim.
Definelegit retweeted
After JD Vance made a statement about ICE agents going door to door. A woman named Isabel Eli from Houston, Texas, made this comment. I have all the info I can find in the comments. Please repost and tag FBI and anyone else you can think of that needs to know this woman threatened the life of our VP and his family .
@FBI
@FBIDirectorKash
@AGPamBondi
@KristiNoem
@DonaldJTrumpJr
@EricTrump
@LaraLeaTrump
@elonmusk
@VP
@JDVance
@GrahamAllen
Definelegit retweeted
Tim you let BILLIONS of dollars of fraud happen in your state
Trump and the Feds come to enforce the law and you condemn them?
Support the laws of this country and don’t enable fraud to happen. No one is falling for your coverup attempt.
Definelegit retweeted
The video now released from the cell phone being used by the officer makes this even easier.
He's clearly gathering evidence by walking 360 around the car recording the face of the driver as well as her admissions for what they are doing, the face of admissions of her partner, and the license plate of the vehicle.
He only moves from the passenger side around the front of the vehicle -- where he had already been once -- when he sees another ICE office approaching the driver's door.
So this is his second time walking around the front -- and he maintains an amount of space between him and the vehicle -- with nothing having happened the first time, and the driver looking directly at him and engaging with him verbally.
She did not panic. She was PURPOSELY trying to evade contact with the second ICE officer approaching her door.
She was attempting to escape what she was anticipating to be an effort to arrest her.