There is no fucking way this guy can do anything with GameStop that is (truly) valuable enough to justify a $35 BILLION pay.
GreatGojira on
Is GameStop even relevant anymore?
npsage on
“GameStop CEO places large bet that US government will not interfere with the growing trend of what is effectively legalized and underaged gambling that has grown out of the “collectibles market.”
Look I’m not going to claim that most* manufacturers sealed TCG booster packs are gambling. You buy a pack expecting X pieces are cardboard. You get X pieces cardboard.
I’m not even going to claim that digital loot boxes are gambling even though it’s a lot more ethically sketchy.
What absolutely is gambling is the whole “Buy a “Blind-Box Graded-Collectable” for $25/$100/$500/$1000 that THEY CONTROL THE PULL RATES ON and after you see what you got they offer an immediate buy back of XX% of “market rate”.
Worst case scenario; you pull junk and then sell it back at a Major/minor loss to buy your next pack meanwhile they just proceed to unload it off on it next sucker who buys a blind-box at even more profit.
Best case is you happen get a card worth more than what you paid ;you post online “Look what I got! I made so much money!” and you lure in other suckers who hope to strike it big.
They control the buy price (initial wager).
They control what you have the chance of pulling (the odds). They control the buy-back process (the payout).
It’s literally just a slot machine with a marginally extra steps.
Whyeth on
Asking for $35 billion as an individual is ghoulish behavior. Net sales for gamestop in 2024 were $3 billion.
celtic1888 on
Seems completely and utterly reasonable
We are definitely in the bad place now
pmmeyourfannie on
Trash people
Nomski88 on
They got a free meme bailout and now they think they can run a real company lmao
mangamario on
Are redditors still the majority shareholders?
weezybrah on
It’s crazy to see this headline as two stores near me are closing for good this month. Sure, give the guy with enough money to last several lifetimes more money while people lose their jobs. What a joke.
Fit_Musician3743 on
Two stores closing in my area.
Three or four stores closed in my area last year.
Without the stock thing they’d already be done
CokBlockinWinger on
This week, 4 GameStop’s around me closed, (I just left one where they let me take home an enormous Metroid Prime 4 display because “fuck it” they said). Part of this has to be shuttering as many brick and mortars as they can and still be relevant.
Granted, having 5 stores close enough to drive to reasonably is overkill, but that takeover of the market is why all of the mom and pops left. Now we have just one dying store which is 75% merchandise.
thomasaquina on
What a wildly disingenuous headline. Contingent on him growing the company literally, not figuratively, 1000%. Zero compensation, if the business doesn’t improve at all.
Lie-Straight on
Increasing the value of the company by 10x is an impossible achievement. If he can get that done he deserves $35B
LlaToTheMa on
Read the article yall …
Current-Set2607 on
lol did a toddler write this?
The company would have to be worth 1000% more for the Performance Package to be valued at $35b, it’s currently valued at $3.5b.
Taxing on
Not sure if anyone reads the article or takes the time to review how the comp plan works.
He receives no salary, bonuses, or guaranteed compensation. He does receive stock options at the current share price that vest if he can achieve lofty performance goals, namely see the market cap of the company increase from sub $10bn to $100bn and achieve $10bn annual ebitda.
It’s more along the lines of, if I pay you $1 for every $10 you bring me, then I hope I end up paying you $1m.
Ok-Seaworthiness7207 on
Ahhhh so it begins
yaboonabi on
How tf is GameStop even worth 35 billion anymore?
Eastern_Guess8854 on
I can’t see him hitting this target, like a 100b valuation is just bananas, what are they going to do to warrant that valuation? Drill oil in Venezuela?
NotTheCraftyVeteran on
Any reasonable “performance-based” payout for GameStop leadership would probably top out at $500 and a Subway meal deal voucher
MilkChugg on
Seeing compensation like this always makes me think back to being a kid and hearing about “the richest people in the world” having like $800 million, MAYBE a billion. Which I thought was insane, and it was.
Now that’s a drop in the bucket compared to what these people are making now.
Genuinely, who needs this kind of money? After several hundred million in wealth, does money even mean anything?
Euler007 on
I was wondering what he would do with all the money the smooth brains funneled into his business. Guess taking it was the obvious choice.
guaztronaut on
As they’re about to close most of the stores in my area right outside Chicago.
GreatnessToTheMoon on
Let’s do GME 2.0 and help him reach his goal
KAugsburger on
>For the award to fully vest, GameStop’s market capitalization must climb to $100 billion, up from its current $9.26 billion, and the company must deliver $10 billion in cumulative performance EBITDA. The options would be worth about $35 billion, excluding exercise costs, if the targets are met.
I would be really surprised if that happens. The story says that it would be split into 9 different tranches so there are obviously a bunch of other thresholds where he would get some options. It is unclear how generous his compensation would be in the likely scenario of more modest growth.
jayRIOT on
So according to someone I know that works there, the company is currently in the midst of another mass store closure (which I don’t know if they’ve even announced yet).
So far their store, along with ~250 others have been confirmed to have gotten the closure notice, but the rumor in the company is they’re looking to close closer to 700 stores in the coming weeks/months.
But yes let’s give the CEO a $35 billion pay package plan.
GeistMD on
40 billion to 90 billion dollars annually would solve world hunger, yet instead we give it all to these people so they can sit on giant boats and sneer down at us.
Fuck we suck as a species…
Sasquatchjc45 on
I just feel bad for my fellow r/superstonk -ers who are still holding onto this shit. Investors saved the company from bankruptcy and in return Ryan Cohen has does nothing but shafted us in return.
Bernie_Ecclestone on
$100B valuation for GameStop for this to go through? LMAOOOOOOOOOO
wouldntyouliketokno_ on
Here’s your guidance going forward. With the insane retail investor group backing and meme stock target something crazy will happen.
heybart on
I didn’t think game stop was worth even that much. Wtf
mrcoolio on
How is GameStop still alive? Surely this company maybe has 10 years left before digital gaming shows it the way of blockbuster.
myychair on
WSB should have let them go out of business. The only reason they still exist is because they made money on being a meme stock but I guess the CEO deserves a massive reward for that
TrappedInOhio on
I’m sorry, how much?
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34 Kommentare
There is no fucking way this guy can do anything with GameStop that is (truly) valuable enough to justify a $35 BILLION pay.
Is GameStop even relevant anymore?
“GameStop CEO places large bet that US government will not interfere with the growing trend of what is effectively legalized and underaged gambling that has grown out of the “collectibles market.”
Look I’m not going to claim that most* manufacturers sealed TCG booster packs are gambling. You buy a pack expecting X pieces are cardboard. You get X pieces cardboard.
I’m not even going to claim that digital loot boxes are gambling even though it’s a lot more ethically sketchy.
What absolutely is gambling is the whole “Buy a “Blind-Box Graded-Collectable” for $25/$100/$500/$1000 that THEY CONTROL THE PULL RATES ON and after you see what you got they offer an immediate buy back of XX% of “market rate”.
Worst case scenario; you pull junk and then sell it back at a Major/minor loss to buy your next pack meanwhile they just proceed to unload it off on it next sucker who buys a blind-box at even more profit.
Best case is you happen get a card worth more than what you paid ;you post online “Look what I got! I made so much money!” and you lure in other suckers who hope to strike it big.
They control the buy price (initial wager).
They control what you have the chance of pulling (the odds). They control the buy-back process (the payout).
It’s literally just a slot machine with a marginally extra steps.
Asking for $35 billion as an individual is ghoulish behavior. Net sales for gamestop in 2024 were $3 billion.
Seems completely and utterly reasonable
We are definitely in the bad place now
Trash people
They got a free meme bailout and now they think they can run a real company lmao
Are redditors still the majority shareholders?
It’s crazy to see this headline as two stores near me are closing for good this month. Sure, give the guy with enough money to last several lifetimes more money while people lose their jobs. What a joke.
Two stores closing in my area.
Three or four stores closed in my area last year.
Without the stock thing they’d already be done
This week, 4 GameStop’s around me closed, (I just left one where they let me take home an enormous Metroid Prime 4 display because “fuck it” they said). Part of this has to be shuttering as many brick and mortars as they can and still be relevant.
Granted, having 5 stores close enough to drive to reasonably is overkill, but that takeover of the market is why all of the mom and pops left. Now we have just one dying store which is 75% merchandise.
What a wildly disingenuous headline. Contingent on him growing the company literally, not figuratively, 1000%. Zero compensation, if the business doesn’t improve at all.
Increasing the value of the company by 10x is an impossible achievement. If he can get that done he deserves $35B
Read the article yall …
lol did a toddler write this?
The company would have to be worth 1000% more for the Performance Package to be valued at $35b, it’s currently valued at $3.5b.
Not sure if anyone reads the article or takes the time to review how the comp plan works.
He receives no salary, bonuses, or guaranteed compensation. He does receive stock options at the current share price that vest if he can achieve lofty performance goals, namely see the market cap of the company increase from sub $10bn to $100bn and achieve $10bn annual ebitda.
It’s more along the lines of, if I pay you $1 for every $10 you bring me, then I hope I end up paying you $1m.
Ahhhh so it begins
How tf is GameStop even worth 35 billion anymore?
I can’t see him hitting this target, like a 100b valuation is just bananas, what are they going to do to warrant that valuation? Drill oil in Venezuela?
Any reasonable “performance-based” payout for GameStop leadership would probably top out at $500 and a Subway meal deal voucher
Seeing compensation like this always makes me think back to being a kid and hearing about “the richest people in the world” having like $800 million, MAYBE a billion. Which I thought was insane, and it was.
Now that’s a drop in the bucket compared to what these people are making now.
Genuinely, who needs this kind of money? After several hundred million in wealth, does money even mean anything?
I was wondering what he would do with all the money the smooth brains funneled into his business. Guess taking it was the obvious choice.
As they’re about to close most of the stores in my area right outside Chicago.
Let’s do GME 2.0 and help him reach his goal
>For the award to fully vest, GameStop’s market capitalization must climb to $100 billion, up from its current $9.26 billion, and the company must deliver $10 billion in cumulative performance EBITDA. The options would be worth about $35 billion, excluding exercise costs, if the targets are met.
I would be really surprised if that happens. The story says that it would be split into 9 different tranches so there are obviously a bunch of other thresholds where he would get some options. It is unclear how generous his compensation would be in the likely scenario of more modest growth.
So according to someone I know that works there, the company is currently in the midst of another mass store closure (which I don’t know if they’ve even announced yet).
So far their store, along with ~250 others have been confirmed to have gotten the closure notice, but the rumor in the company is they’re looking to close closer to 700 stores in the coming weeks/months.
But yes let’s give the CEO a $35 billion pay package plan.
40 billion to 90 billion dollars annually would solve world hunger, yet instead we give it all to these people so they can sit on giant boats and sneer down at us.
Fuck we suck as a species…
I just feel bad for my fellow r/superstonk -ers who are still holding onto this shit. Investors saved the company from bankruptcy and in return Ryan Cohen has does nothing but shafted us in return.
$100B valuation for GameStop for this to go through? LMAOOOOOOOOOO
Here’s your guidance going forward. With the insane retail investor group backing and meme stock target something crazy will happen.
I didn’t think game stop was worth even that much. Wtf
How is GameStop still alive? Surely this company maybe has 10 years left before digital gaming shows it the way of blockbuster.
WSB should have let them go out of business. The only reason they still exist is because they made money on being a meme stock but I guess the CEO deserves a massive reward for that
I’m sorry, how much?