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Would you like to inspect the original subtitles? These are the user uploaded subtitles that are being translated: 1 00:00:02,000 --> 00:00:07,000 Downloaded from YTS.MX 2 00:00:08,000 --> 00:00:13,000 Official YIFY movies site: YTS.MX 3 00:01:11,280 --> 00:01:13,699 So, I'm here. 4 00:01:13,699 --> 00:01:17,869 - And, I do not see anything happening. - Right. 5 00:01:17,869 --> 00:01:19,705 - Right. - At all. 6 00:01:19,705 --> 00:01:20,789 Look, I'm very sorry, sir. 7 00:01:20,789 --> 00:01:24,001 Guess what I'm trying to understand is, what is the reason for this delay exactly? 8 00:01:24,001 --> 00:01:26,211 - Yeah. Mr. Plotkin, I'm so sorry. - Specifically. 9 00:01:26,211 --> 00:01:29,715 - But it's just that when we set out... - Yeah, we closed in November. 10 00:01:29,715 --> 00:01:32,050 We had all the permit applications in before the end of the year. 11 00:01:32,050 --> 00:01:33,802 Right. Once we get the final stamp of approval. 12 00:01:33,802 --> 00:01:35,345 And we can't get the trucks here a little early? 13 00:01:35,345 --> 00:01:37,222 - Just, you know, get 'em started. - Miami Beach ordinances... 14 00:01:37,222 --> 00:01:38,640 - won't let me do that. - Is anyone actually... 15 00:01:38,640 --> 00:01:40,726 - ...enforcing those regulations? - Look, Mr. Plotkin, 16 00:01:40,726 --> 00:01:42,352 I know that you're eager to move in. Okay. 17 00:01:42,352 --> 00:01:44,062 - Once we get the final stamp of approval. - No. 18 00:01:44,062 --> 00:01:45,522 - You're gonna be the first... - One second. 19 00:01:45,522 --> 00:01:46,648 Sure. 20 00:01:47,149 --> 00:01:48,233 Hello? 21 00:01:49,818 --> 00:01:53,071 You see what's going on at GME? 22 00:01:53,071 --> 00:01:54,698 There's more of these idiots? 23 00:01:54,698 --> 00:01:57,659 ...the short sellers, now they're getting creamed by the little guy... 24 00:01:57,659 --> 00:01:58,827 A lot more. 25 00:01:58,827 --> 00:02:00,370 They won't hold much longer. 26 00:02:00,370 --> 00:02:01,496 Go away. 27 00:02:02,372 --> 00:02:04,624 Oh Gabe, honey, they're holding. 28 00:02:05,625 --> 00:02:07,794 It just crossed a hundred. 29 00:02:07,794 --> 00:02:10,130 Gabe, where are you? 30 00:02:10,130 --> 00:02:11,298 Fuck! 31 00:02:11,298 --> 00:02:13,091 You should probably dial in. 32 00:02:13,091 --> 00:02:14,384 Yeah, be on in one sec. 33 00:02:16,053 --> 00:02:18,638 ♪ There's some whores in this house ♪ 34 00:02:18,638 --> 00:02:21,058 - ♪ I said, certified freak ♪ - ♪ Hold up! ♪ 35 00:02:21,058 --> 00:02:22,976 ♪ Seven days a week ♪ 36 00:02:22,976 --> 00:02:26,313 ♪ Wet-ass pussy Make that pull-out game weak ♪ 37 00:02:26,313 --> 00:02:29,066 - ♪ Whoo! Yeah, yeah ♪ - ♪ There's some whores in this house ♪ 38 00:02:29,066 --> 00:02:31,443 ♪ Yeah, you fucking With some wet-ass pussy... ♪ 39 00:02:31,443 --> 00:02:34,529 I will tell you I've never seen anything like it. I'm concerned about it. 40 00:02:34,529 --> 00:02:36,490 I'm calling it the ultimate short squeeze. 41 00:02:36,490 --> 00:02:38,784 You can lose money to infinity. 42 00:02:38,784 --> 00:02:42,329 It's very different, more highly leveraged game on the other side. 43 00:02:42,329 --> 00:02:43,622 ♪ Put this pussy... ♪ 44 00:02:43,622 --> 00:02:44,915 Holy fucking shit. 45 00:02:44,915 --> 00:02:45,999 ♪ Like a credit card... ♪ 46 00:02:45,999 --> 00:02:48,835 Right now we're gonna talk about GameStop. Those shares... 47 00:02:48,835 --> 00:02:52,047 - are nonstop earning of about 130% today. - Holy fucking shit! 48 00:02:52,047 --> 00:02:53,757 - Holy shit! - What the... 49 00:02:53,757 --> 00:02:55,008 ...fuck! 50 00:02:55,008 --> 00:02:56,760 ♪ Let's role play, I'll wear a disguise ♪ 51 00:02:56,760 --> 00:02:59,513 ♪ I want you to park that big Mack truck Right in this little garage ♪ 52 00:02:59,513 --> 00:03:00,680 - Holy shit. 53 00:03:00,680 --> 00:03:02,432 - Yes. Hello? - Great news, Mr. Plotkin. 54 00:03:02,432 --> 00:03:04,476 I think we'll be able to get you into your new home 55 00:03:04,476 --> 00:03:05,852 a little sooner than I actually thought. 56 00:03:05,852 --> 00:03:08,063 I think we're having some sort of miscommunication here. 57 00:03:08,063 --> 00:03:09,689 Because I'm not trying to move into that house. 58 00:03:09,689 --> 00:03:12,401 I'm trying to tear that house down so I can build a tennis court 59 00:03:12,401 --> 00:03:14,403 for me and my family to play during the pandemic. 60 00:03:14,403 --> 00:03:15,904 - I see. - I thought it would be very simple. 61 00:03:15,904 --> 00:03:17,864 Apparently, it isn't because the pandemic is almost over 62 00:03:17,864 --> 00:03:19,491 - and there's no tennis court. - Okay, Mr. Plotkin. 63 00:03:19,491 --> 00:03:20,909 Thank you for your time. 64 00:03:20,909 --> 00:03:22,661 Yes, what? Hello? 65 00:03:22,661 --> 00:03:25,497 Hi, it's Ken Griffin. 66 00:03:31,044 --> 00:03:33,046 Hi there, Ken, how are you? Great to hear from you. 67 00:03:34,548 --> 00:03:35,632 Do you have a minute? 68 00:03:37,592 --> 00:03:38,760 I, uh... 69 00:03:39,428 --> 00:03:40,262 Um... 70 00:03:40,262 --> 00:03:42,848 I gotta call you right back. If that's okay. I'm so sorry. 71 00:03:44,057 --> 00:03:45,392 - Sure. - Okay, great. 72 00:03:46,935 --> 00:03:48,520 Hi. What's happening right now? 73 00:03:48,520 --> 00:03:51,022 It looks like there's one guy driving all the buying. 74 00:03:51,022 --> 00:03:52,357 What... what... what guy? 75 00:03:53,442 --> 00:03:55,819 I believe his name is "Roaring Kitty." 76 00:03:55,819 --> 00:03:57,362 ♪ There's some whores in this house ♪ 77 00:03:57,362 --> 00:03:59,781 ♪ Yeah, you fucking With some wet-ass pussy... ♪ 78 00:03:59,781 --> 00:04:01,116 Oh, wait, or... 79 00:04:01,116 --> 00:04:02,909 ♪ This wet-ass pussy... ♪ 80 00:04:02,909 --> 00:04:04,828 "Deep Fucking Value." 81 00:04:04,828 --> 00:04:07,456 "Roaring Kitty" or "Deep Fucking Value." What? 82 00:04:08,415 --> 00:04:11,543 He's "Roaring Kitty" on YouTube and "Deep Fucking Value" on Reddit. 83 00:04:11,543 --> 00:04:14,087 Both? He couldn't pick one name? 84 00:04:14,087 --> 00:04:15,839 I don't know. I love this guy. 85 00:04:15,839 --> 00:04:17,591 ♪ That's some wet-ass pussy ♪ 86 00:04:17,591 --> 00:04:19,426 ♪ Macaroni in a pot ♪ 87 00:04:19,426 --> 00:04:21,052 ♪ That's some wet-ass pussy 88 00:04:21,052 --> 00:04:23,013 - ♪ Ha ♪ - ♪ There's some whores in this house... ♪ 89 00:04:23,013 --> 00:04:24,389 Who is this schmuck? 90 00:04:24,389 --> 00:04:26,266 I don't know, but I think I just came. 91 00:05:31,957 --> 00:05:34,251 - Uh, Ruby... Ruby, right? - Yeah. 92 00:05:34,251 --> 00:05:37,128 - Can I get a couple of Heinies, please? - Uh, one. Sorry, uh... 93 00:05:37,712 --> 00:05:39,965 - I'm gonna have a... - What? What's wrong with a Heinie? 94 00:05:39,965 --> 00:05:41,466 Drinking it since we were 17! 95 00:05:41,466 --> 00:05:43,552 Hey, drink what you like. No judgment. 96 00:05:43,552 --> 00:05:45,220 Uh, you have a Hamm's? 97 00:05:45,220 --> 00:05:47,806 - I'll have one of those. - The fuck did you just order? 98 00:05:47,806 --> 00:05:50,684 Oh, it's a nice one outta Milwaukee. Good quality. 99 00:05:50,684 --> 00:05:53,562 - Fifty cents a can before markup. - C'mon, Kitty. Forget about price. 100 00:05:53,562 --> 00:05:54,854 Get him a Heineken, thank you. 101 00:05:54,854 --> 00:05:56,314 - It's on me. - Thanks, man. 102 00:05:56,314 --> 00:05:59,025 Thank you, that's nice. I'll have a Hamm's. 103 00:05:59,025 --> 00:06:00,652 So a Heineken and a Hamm's? 104 00:06:00,652 --> 00:06:01,778 Thank you. 105 00:06:01,778 --> 00:06:02,988 Please. 106 00:06:02,988 --> 00:06:04,322 Thank you, Ruby. 107 00:06:09,953 --> 00:06:10,954 How you been, man? 108 00:06:10,954 --> 00:06:13,081 The whole Sara thing. 109 00:06:13,081 --> 00:06:16,293 Oh, yeah. Okay, uh... 110 00:06:16,293 --> 00:06:17,752 Up and down. 111 00:06:18,336 --> 00:06:19,462 Yeah. 112 00:06:21,172 --> 00:06:22,757 - How's your asshole brother? - Still an asshole. 113 00:06:22,757 --> 00:06:24,551 - Okay. - Yeah. 114 00:06:25,135 --> 00:06:26,761 - Keeping busy at least? - Uh... 115 00:06:26,761 --> 00:06:29,889 Got the day job at MassMutual. Working on my portfolio. 116 00:06:29,889 --> 00:06:32,309 That's the last thing you should be worrying about right now. 117 00:06:32,809 --> 00:06:34,769 Why? It's a... It's a good distraction. 118 00:06:34,769 --> 00:06:36,104 Lemme take that over for you. 119 00:06:36,104 --> 00:06:37,689 We got thousands of analysts at B of A 120 00:06:37,689 --> 00:06:40,150 - that do just this. C'mon, Kitty. - All good, man. Thank you. 121 00:06:40,150 --> 00:06:41,693 You should be focused on your family right now. 122 00:06:41,693 --> 00:06:43,194 Not fucking around with penny stocks. 123 00:06:43,194 --> 00:06:45,905 They're not all penny stocks. GameStop isn't a penny stock. 124 00:06:45,905 --> 00:06:47,407 GameStop? 125 00:06:47,407 --> 00:06:48,867 - Dude... - You used to love GameStop! 126 00:06:48,867 --> 00:06:52,037 - Yeah, then I grew up. - Well, I think it's undervalued. 127 00:06:52,621 --> 00:06:54,623 I just sold off a bunch of other shit to double down. 128 00:06:54,623 --> 00:06:56,583 How much are we talking? A grand? 129 00:06:56,583 --> 00:06:57,709 - Fifty. - Bucks? 130 00:06:57,709 --> 00:06:58,835 Grand. 131 00:06:58,835 --> 00:06:59,961 53 grand. 132 00:06:59,961 --> 00:07:01,921 Yeah. 133 00:07:06,551 --> 00:07:07,469 Kitty... 134 00:07:09,346 --> 00:07:11,556 - Man, you don't even own a house. - It's got a ton of short interest, 135 00:07:11,556 --> 00:07:13,391 - You got a one-year-old. - which is artificially pushing... 136 00:07:13,391 --> 00:07:14,809 - Jesus, bro. - the price down. 137 00:07:14,809 --> 00:07:17,270 - You never bet against Wall Street! - Wall Street gets it wrong all the time. 138 00:07:17,270 --> 00:07:18,813 - Look at '08. - That was a one-off, Kitty. 139 00:07:18,813 --> 00:07:20,273 These guys, they have all the money 140 00:07:20,273 --> 00:07:22,400 and the fancy degrees and the political juice in the world, 141 00:07:22,400 --> 00:07:24,611 - and they get it wrong all the time. - Are you out of your fucking mind? 142 00:07:24,611 --> 00:07:27,405 They've got the advantage, and they still get it wrong. 143 00:07:29,032 --> 00:07:31,576 No, gimme that, I'm drinking it. Even if it's 50 cents. 144 00:07:31,576 --> 00:07:32,661 It's 4 bucks. 145 00:07:32,661 --> 00:07:34,746 Well, my man just spent 53K on a penny stock. 146 00:07:34,746 --> 00:07:36,623 So, all he can afford is water. 147 00:07:36,623 --> 00:07:39,125 - You're a Wall Street guy? - Very much no. 148 00:07:39,125 --> 00:07:40,669 I'm a Wall Street guy. 149 00:07:40,669 --> 00:07:42,170 What was the stock? 150 00:07:43,421 --> 00:07:44,506 GameStop. 151 00:07:45,882 --> 00:07:47,217 The video game store. At the mall. 152 00:07:47,217 --> 00:07:50,804 - You really bought $53,000 of it? - Yeah, I don't believe it. 153 00:07:50,804 --> 00:07:52,972 I think he's fucking with us. You're fucking with us, right? 154 00:07:52,972 --> 00:07:54,683 You don't even have 50 grand. 155 00:07:54,683 --> 00:07:55,850 Let's see. 156 00:07:58,269 --> 00:07:59,396 Oh, shit. 157 00:08:01,481 --> 00:08:03,400 How is she falling for this? How are you falling for this? 158 00:08:03,400 --> 00:08:05,777 He won't spend 5 bucks for a beer, 159 00:08:05,777 --> 00:08:09,197 but he'll put 50k in a stock that you think is a joke. 160 00:08:09,197 --> 00:08:10,782 And that's interesting to you? 161 00:08:11,658 --> 00:08:12,742 Yeah. 162 00:08:13,952 --> 00:08:15,078 It is. 163 00:08:21,042 --> 00:08:22,627 Drink your shitty beer. 164 00:08:32,011 --> 00:08:33,054 Hey! 165 00:08:33,054 --> 00:08:34,180 Hey! 166 00:08:36,599 --> 00:08:38,143 Bedtime's already done? 167 00:08:38,143 --> 00:08:41,521 Yeah, she was exhausted. She skipped her nap. 168 00:08:43,314 --> 00:08:44,858 - How was Briggsy? - Uh... 169 00:08:44,858 --> 00:08:46,317 Good. Yeah. 170 00:08:54,617 --> 00:08:56,369 You guys talk about Sara? 171 00:08:58,288 --> 00:08:59,247 Uh... 172 00:09:02,792 --> 00:09:04,461 Do you wanna sit down a minute? 173 00:09:04,461 --> 00:09:06,629 I'll feel better if I finish these first. 174 00:09:07,589 --> 00:09:09,841 No, you won't. 175 00:09:35,241 --> 00:09:36,242 Do you think I'm insane? 176 00:09:36,242 --> 00:09:37,577 Yeah. 177 00:09:38,870 --> 00:09:40,497 Sorry. About what? 178 00:09:41,664 --> 00:09:42,791 GameStop. 179 00:09:42,791 --> 00:09:45,543 The most compelling asymmetric opportunity in the market? 180 00:09:47,670 --> 00:09:49,964 - What, did Briggsy make you jumpy? - A little. 181 00:09:49,964 --> 00:09:52,091 - What was his argument? - He didn't have one. 182 00:09:52,091 --> 00:09:54,677 - Well. - He just said it was a reckless bet. 183 00:09:54,677 --> 00:09:57,055 He said "you're putting your money in the next Blockbuster." 184 00:09:57,055 --> 00:09:57,972 Enough. Fuck Briggsy. 185 00:09:57,972 --> 00:10:01,351 Babe, you literally know more about this damn company than you know about me. 186 00:10:01,810 --> 00:10:02,727 It's true. 187 00:10:02,727 --> 00:10:05,730 And because of you, I know more about this company than I know about myself. 188 00:10:05,730 --> 00:10:09,526 But what if I'm missing something? We can't afford to miss something. 189 00:10:10,860 --> 00:10:12,612 It's all our savings. 190 00:10:13,321 --> 00:10:14,489 Go do a video. 191 00:10:15,782 --> 00:10:17,617 I can finish these first. I'm happy to... 192 00:10:17,617 --> 00:10:19,744 Go see what the nerds have to say. 193 00:10:19,744 --> 00:10:22,413 Our Wall Street Bets people aren't nerds, Caroline. 194 00:10:22,413 --> 00:10:24,916 They're gangsters. You make a dumb case and post it, 195 00:10:24,916 --> 00:10:27,335 - they'll rip you apart. - Well, then don't make a dumb case. 196 00:10:46,479 --> 00:10:47,981 Okay, let's see what's new. 197 00:10:50,942 --> 00:10:52,986 Oh, there's a share. Okay, here we go. 198 00:10:55,905 --> 00:10:57,198 Oh shit. 199 00:11:20,555 --> 00:11:22,015 All right... 200 00:11:22,807 --> 00:11:25,393 Just check on... See here. 201 00:11:35,695 --> 00:11:38,448 Yo, what up, everybody? Roaring Kitty here. 202 00:11:38,448 --> 00:11:41,576 Uh, I've done a few of these now, mostly on my investing methodology. 203 00:11:41,576 --> 00:11:44,412 Uh, but today I'm gonna try something a little different. 204 00:11:44,412 --> 00:11:47,832 I appreciate the feedback you guys have been leaving me by the way. 205 00:11:47,832 --> 00:11:51,502 Uh... Oh! More feedback comin' in hot. 206 00:11:51,502 --> 00:11:55,298 "Less cats." Okay. Great. 207 00:11:55,298 --> 00:11:58,927 Ah, like I was saying-- Uh, what was I saying? 208 00:11:58,927 --> 00:11:59,886 Ah, I'm gonna try... 209 00:11:59,886 --> 00:12:02,096 Oh, and here's one from Ballz. 210 00:12:02,096 --> 00:12:03,598 "Nerd." 211 00:12:03,598 --> 00:12:05,600 And nerd is in all capitals. 212 00:12:05,600 --> 00:12:09,646 Like, okay, that's kinda mean. But okay, fair. 213 00:12:09,646 --> 00:12:10,730 Uh... 214 00:12:10,730 --> 00:12:12,732 "Nice shirt, Grandpa"? 215 00:12:12,732 --> 00:12:16,027 What? How old do you think I am? 216 00:12:16,027 --> 00:12:16,986 You know what? 217 00:12:16,986 --> 00:12:20,114 Thanks for the comments. We're gonna come back to them at the end. 218 00:12:20,114 --> 00:12:21,407 Here's what I wanna talk about. 219 00:12:22,283 --> 00:12:25,536 Uh, I'm gonna pick a stock and talk about why I think it's interesting. 220 00:12:25,536 --> 00:12:27,497 And that stock is... 221 00:12:28,915 --> 00:12:30,917 GameStop. Uh... 222 00:12:31,709 --> 00:12:33,086 I know it's a polarizing stock 223 00:12:33,086 --> 00:12:35,588 and some of you probably gonna tune out of the stream right now 224 00:12:35,588 --> 00:12:38,091 when you hear I'm bullish on GameStop. But I am. 225 00:12:38,091 --> 00:12:42,178 You can see it is now the biggest position by far in the Roaring Kitty portfolio. 226 00:12:42,178 --> 00:12:43,096 So... 227 00:12:43,096 --> 00:12:46,140 yeah, I think everyone else is crazy, and I think I'm right. 228 00:12:46,140 --> 00:12:50,687 But I've been wrong plenty of times in the past. So, uh... 229 00:12:50,687 --> 00:12:54,232 So there are a lot of aspects to this bold thesis, a lot of moving parts, 230 00:12:54,232 --> 00:12:56,734 but I boil it down to what I consider the three overs: 231 00:12:56,734 --> 00:12:59,070 The digital risks seem to me to be overblown, 232 00:12:59,070 --> 00:13:00,530 the negative sentiment is overdone, 233 00:13:00,530 --> 00:13:02,281 you can see it with the huge short interest, 234 00:13:02,281 --> 00:13:04,200 and the value is overlooked. 235 00:13:04,200 --> 00:13:06,369 Wall Street just doesn't see it. 236 00:13:06,995 --> 00:13:08,162 Why? 237 00:13:08,162 --> 00:13:11,416 Mr. Market, why? 238 00:13:12,166 --> 00:13:14,919 The hedge funds are overlooking the value in the company 239 00:13:14,919 --> 00:13:17,630 just like they overlook the people who shop there. 240 00:13:17,630 --> 00:13:20,341 They assume most people download games online now. 241 00:13:20,341 --> 00:13:24,679 But look, 25% of gamers still buy new discs from GameStop, 242 00:13:24,679 --> 00:13:27,724 and 40% buy used games from the store. 243 00:13:27,724 --> 00:13:29,684 And the market's kinda forced my hand here. 244 00:13:29,684 --> 00:13:32,645 What more can I say? I just like the stock. 245 00:13:32,645 --> 00:13:33,730 Hey! 246 00:13:34,439 --> 00:13:35,857 Shit! 247 00:13:36,899 --> 00:13:38,568 - Did I wake you? - Please stop. 248 00:13:38,568 --> 00:13:41,446 Mr. Donaldson, I need you in your bed. 249 00:13:41,446 --> 00:13:43,448 Kerin, can you please make sure Mr. Donaldson... 250 00:13:43,448 --> 00:13:45,908 I don't need to go to bed. I need a cup of coffee. 251 00:13:45,908 --> 00:13:48,786 We can get you a cup of coffee. Kerin, coffee. 252 00:13:48,786 --> 00:13:49,954 Oh! 253 00:13:50,580 --> 00:13:51,748 Well, isn't that beautiful? 254 00:13:52,331 --> 00:13:53,458 Oh shit. 255 00:13:54,792 --> 00:13:59,672 "100% short GameStop stock "? 256 00:13:59,672 --> 00:14:01,049 It's an investment video. 257 00:14:01,049 --> 00:14:03,634 Hey, Jenny, for real, 258 00:14:03,634 --> 00:14:06,471 I wouldn't take investment advice from a guy in a cat shirt. 259 00:14:06,471 --> 00:14:09,098 Oh, okay. Who do you take investment advice from? 260 00:14:09,098 --> 00:14:15,772 I don't have investments. And if I did, I'd listen to, like, a banker. 261 00:14:15,772 --> 00:14:17,273 Just the way they like it. 262 00:14:17,273 --> 00:14:21,235 "They." [laughs] Oh boy. Here we go... 263 00:14:21,235 --> 00:14:22,403 Just never mind. 264 00:14:22,403 --> 00:14:23,863 No, no, no, please tell me. 265 00:14:23,863 --> 00:14:27,075 I'm dying to know what Luke Wilson from The Royal Tenenbaums 266 00:14:27,075 --> 00:14:29,702 thinks we should do with our $68,000 a year. 267 00:14:29,702 --> 00:14:30,828 Who from what? 268 00:14:30,828 --> 00:14:31,913 Ugly Björn Borg. 269 00:14:31,913 --> 00:14:33,081 Okay, fine. 270 00:14:33,081 --> 00:14:36,000 Wall Street is betting that this company is gonna fail. 271 00:14:36,000 --> 00:14:37,585 It's called shorting. 272 00:14:37,585 --> 00:14:41,172 And if it fails, well, then everybody loses their job, 273 00:14:41,172 --> 00:14:43,841 but these hedge fund assholes make a shit ton of money. 274 00:14:44,425 --> 00:14:48,179 It's bullshit. It's a bullshit way for rich people to get richer. 275 00:14:48,179 --> 00:14:49,847 How did you even find this guy? 276 00:14:49,847 --> 00:14:52,475 70,000 people have watched this video. 277 00:14:52,475 --> 00:14:54,894 He posts his balance sheets and everything. 278 00:14:54,894 --> 00:14:56,729 Wall Street Bets is going crazy over this. 279 00:14:56,729 --> 00:14:58,856 - Who? - It's an Internet forum. 280 00:14:58,856 --> 00:14:59,941 Uh-huh. 281 00:15:00,733 --> 00:15:01,984 - On Reddit. - Now, see. No, no. 282 00:15:01,984 --> 00:15:04,362 I'm not gonna do this with you. The last time you brought up Reddit, 283 00:15:04,362 --> 00:15:07,115 it was just all these oil paintings of Donald Trump on horseback. 284 00:15:07,115 --> 00:15:08,908 - You liked it. - Detestable. 285 00:15:08,908 --> 00:15:11,577 - Look. - Okay, yeah. Let's take a look. 286 00:15:11,577 --> 00:15:13,162 Um... 287 00:15:13,162 --> 00:15:15,623 "Shit's not a pump-and-dump 288 00:15:15,623 --> 00:15:19,001 if it never dumps, you fuckheads..." 289 00:15:19,001 --> 00:15:23,131 "Feed me your tears, I use it as anal lube on your wives." 290 00:15:23,131 --> 00:15:24,257 Why did you go to that one? 291 00:15:24,257 --> 00:15:27,802 Oh! Oh! Oh! "Strap on ur theta dildo 292 00:15:27,802 --> 00:15:31,931 - n start pounding." - Okay. Yes, that shit exists on here. 293 00:15:31,931 --> 00:15:35,726 But I also learned the difference between a delta squeeze and a gamma squeeze. 294 00:15:35,726 --> 00:15:37,728 And now everyone is talking about call options. 295 00:15:37,728 --> 00:15:41,274 Jenny, baby, you're never gonna find a man on there. 296 00:15:42,692 --> 00:15:44,944 And you're never gonna date Puff Daddy. 297 00:15:44,944 --> 00:15:47,363 First of all, no one has said Puff Daddy since the '90s 298 00:15:47,363 --> 00:15:49,740 and second of all, this isn't Puff Daddy. 299 00:15:50,533 --> 00:15:51,701 This is Loop Daddy. 300 00:15:52,618 --> 00:15:56,497 Okay, well, whatever Daddy he's called, he's weird looking. 301 00:15:56,497 --> 00:15:59,250 Hey, well, my guy has, what, 5 million TikTok followers. 302 00:15:59,250 --> 00:16:01,002 - How many does yours have? - I don't know. 303 00:16:01,002 --> 00:16:03,754 Quick scroll. 412. 304 00:16:03,754 --> 00:16:06,090 - Who cares? - The Internet at large. 305 00:16:06,090 --> 00:16:08,134 But hey. Least I aim high. 306 00:16:09,177 --> 00:16:11,053 - I aim high. 307 00:16:19,896 --> 00:16:23,149 ♪ 21 bands for the age of 21 ♪ 308 00:16:23,149 --> 00:16:26,527 ♪ I'mma flip the funds up Then I cop the Chevy truck ♪ 309 00:16:26,527 --> 00:16:29,906 ♪ Buy her what she want And you know she show me love ♪ 310 00:16:29,906 --> 00:16:32,867 ♪ Then I roll it up Then I roll it up ♪ 311 00:16:32,867 --> 00:16:36,078 ♪ Motherfuckers wanna hate me And shame me ♪ 312 00:16:36,078 --> 00:16:39,290 ♪ Motherfuckers wanna drain me Cobain me ♪ 313 00:16:39,290 --> 00:16:42,627 ♪ All these bitches trying to chain me And blame me ♪ 314 00:16:42,627 --> 00:16:46,339 ♪ Motherfuckers wanna change me And hate me ♪ 315 00:16:46,339 --> 00:16:48,925 What up, everybody? Roaring Kitty here. 316 00:16:48,925 --> 00:16:53,888 Yo! Yo! Yo! This price action, gettin' kind of ridiculous, am I right? 317 00:16:53,888 --> 00:16:56,432 Let's see what happens. See what happens at the end of the week. 318 00:16:56,432 --> 00:16:58,684 But it's all about the trend staying intact. 319 00:16:58,684 --> 00:17:00,478 But this, this looks sick. 320 00:17:03,981 --> 00:17:05,107 Morning, Marcos! 321 00:17:05,608 --> 00:17:08,569 Shit... Yo, what's... Hey, Brad. 322 00:17:15,785 --> 00:17:19,622 Yo, um, I was wondering if could I get an advance on my pay? 323 00:17:20,248 --> 00:17:21,749 I can run it up the chain, 324 00:17:21,749 --> 00:17:24,210 but with all the cutbacks, that's unlikely. 325 00:17:25,294 --> 00:17:27,421 Oh, hey! You could do the employee TikTok contest. 326 00:17:27,421 --> 00:17:29,882 You do a lip sync, you can win 10 labor hours. 327 00:17:29,882 --> 00:17:31,592 Yeah, man, totally. 328 00:17:32,301 --> 00:17:35,263 That's dope. I was thinkin' "Savage." 329 00:17:36,639 --> 00:17:38,599 Yeah. Yeah, sure, I love it. 330 00:17:38,599 --> 00:17:41,060 Or yo, that Drake one with Lil Durk. 331 00:17:42,687 --> 00:17:43,896 That's a great one too. 332 00:17:43,896 --> 00:17:45,690 Because I know you love Lil Durk. 333 00:17:46,232 --> 00:17:47,149 - C'mon. 334 00:17:47,149 --> 00:17:49,777 No, I'm gonna do Megan Thee Stallion. For sure, for sure, for sure. 335 00:17:49,777 --> 00:17:50,820 ♪ I'm a savage ♪ 336 00:17:51,529 --> 00:17:53,823 ♪ Classy, bougie, ratchet ♪ 337 00:17:53,823 --> 00:17:56,534 ♪ Sassy, moody, nasty ♪ 338 00:17:56,534 --> 00:17:58,661 Okay, mask! Mask. 339 00:17:59,787 --> 00:18:01,080 Sorry. 340 00:18:01,080 --> 00:18:03,666 ♪ Acting stupid, what was happening? ♪ 341 00:18:04,250 --> 00:18:06,168 ♪ What's happening? I'm a savage ♪ 342 00:18:06,168 --> 00:18:09,380 Huh, A+ man. You're a shoo-in with moves like that. 343 00:18:09,380 --> 00:18:11,299 Yo, you think so for real, though? 344 00:18:12,341 --> 00:18:13,342 That's sweet, real. 345 00:18:14,844 --> 00:18:16,012 Ten labor hours. 346 00:18:16,887 --> 00:18:18,347 Damn, it's like Christmas came early! 347 00:18:20,016 --> 00:18:21,517 I'm pullin' for ya! 348 00:18:21,517 --> 00:18:22,893 Thanks, man. 349 00:18:25,187 --> 00:18:26,314 ♪ I'm that bitch ♪ 350 00:18:26,314 --> 00:18:28,691 ♪ I'm that bitch Hey ♪ 351 00:18:28,691 --> 00:18:31,861 ♪ I'm the hood Mona Lisa Break a nigga into pieces ♪ 352 00:18:31,861 --> 00:18:34,822 ♪ Had to X some cheesy niggas Out my circle like a pizza ♪ 353 00:18:34,822 --> 00:18:38,492 ♪ I'm way too exclusive I don't shop on Insta' boutiques... ♪ 354 00:18:38,492 --> 00:18:40,828 ♪ ...only fit fake booties ♪ 355 00:18:40,828 --> 00:18:41,954 ♪ Fuck cash shit ♪ 356 00:18:41,954 --> 00:18:42,872 ♪ Talking cash shit ♪ 357 00:18:42,872 --> 00:18:45,041 ♪ Pussy like water I'm unbothered and relaxing ♪ 358 00:18:45,041 --> 00:18:45,958 Mmm! Fries. 359 00:18:45,958 --> 00:18:48,627 ♪ I would never trip on a nigga if I had him ♪ 360 00:18:48,627 --> 00:18:51,589 ♪ Bitch, that's my trash, you the maid So you bagged him ♪ 361 00:18:51,589 --> 00:18:54,925 ♪ I'm a savage Classy, bougie, ratchet ♪ 362 00:18:54,925 --> 00:18:56,093 No, fuck! 363 00:18:56,093 --> 00:18:57,887 ♪ Sassy, moody, nasty... ♪ 364 00:18:57,887 --> 00:18:58,888 God! 365 00:18:58,888 --> 00:19:01,057 Goddamn it! Fuck! 366 00:19:01,057 --> 00:19:04,018 But first, cheers! Cheers, everybody. 367 00:19:04,018 --> 00:19:07,146 I mean, look. I know we still got a lot of bear takes out there. 368 00:19:07,146 --> 00:19:09,065 But as I dive deeper and deeper into this thing, 369 00:19:09,065 --> 00:19:10,941 it's looking increasingly compelling to me. 370 00:19:10,941 --> 00:19:14,153 And then you got the huge short interest. Now, I'm not betting on a short squeeze. 371 00:19:14,153 --> 00:19:16,489 I've been saying that the whole time. You guys have been talking about it. 372 00:19:16,489 --> 00:19:18,074 Thesis is grounded in fundamentals, but I'm not... 373 00:19:18,074 --> 00:19:19,700 But to... I mean, today, I mean, I'm... 374 00:19:19,700 --> 00:19:21,410 I mean, it's starting to feel a little squeezy, right? 375 00:19:21,410 --> 00:19:22,912 Starting to feel a little squeezy. Honk! 376 00:19:22,912 --> 00:19:24,455 I mean, hello. Okay! 377 00:19:24,455 --> 00:19:26,665 All right, all right. I need a drink. I need a drink. 378 00:19:29,085 --> 00:19:32,505 Now. A lot of you are accusing me of talking a big game. 379 00:19:32,505 --> 00:19:33,672 - Keith? - But-- 380 00:19:33,672 --> 00:19:36,717 - Babe, where are you? - Oh... Coming! 381 00:19:37,551 --> 00:19:40,137 Duh... I'm on Daddy duty tonight. I'll be right back. 382 00:19:41,639 --> 00:19:43,599 ♪ Stack it, pack it Stack it, pack it, trap it ♪ 383 00:19:43,599 --> 00:19:46,602 ♪ Send it to a rich nigga Tell him work his magic ♪ 384 00:19:46,602 --> 00:19:49,688 ♪ Stack it, pack it Stack it, pack it, trap it ♪ 385 00:19:49,688 --> 00:19:52,691 ♪ Send it to a rich nigga Tell him make somethin' happen ♪ 386 00:19:52,691 --> 00:19:54,443 ♪ I ain't slowin' down for no clown ♪ 387 00:19:55,361 --> 00:19:58,406 ♪ Tell him hit the next route I'm the best out ♪ 388 00:19:58,406 --> 00:20:01,117 ♪ Work on my confidence Now my chest out ♪ 389 00:20:01,117 --> 00:20:04,787 ♪ Pop it and I'm blessed now They only love you when you down ♪ 390 00:20:04,787 --> 00:20:09,083 ♪ I'mma stack it, pack it Stack it, pack it, trap it... ♪ 391 00:20:09,083 --> 00:20:11,669 Okay. There you go. 392 00:20:12,920 --> 00:20:15,381 Ooh! Sorry. 393 00:20:15,381 --> 00:20:16,924 Quick tendie break. 394 00:20:17,425 --> 00:20:18,342 Mmm! 395 00:20:18,342 --> 00:20:19,677 Gotta love those tendies. 396 00:20:19,677 --> 00:20:21,053 Sweet, sweet tendies. 397 00:20:22,012 --> 00:20:23,431 Speaking of tendies. 398 00:20:24,640 --> 00:20:27,435 - Look at this. Look at this chart. 399 00:20:28,686 --> 00:20:32,398 We go from four, to six, to seven. Now... 400 00:20:32,940 --> 00:20:33,899 ten. 401 00:20:34,483 --> 00:20:37,153 Wall Street must be seeing this, right? 402 00:20:37,153 --> 00:20:39,655 Or are we just screaming into the void? 403 00:20:39,655 --> 00:20:43,117 Hello, Mr. Market. We got tendies too. 404 00:20:43,117 --> 00:20:45,536 We got tendies too. 405 00:20:47,329 --> 00:20:48,289 Maybe we are. 406 00:20:48,289 --> 00:20:53,711 They never saw the, like, 9 billion resumes I sent from 2016 to 2019. 407 00:20:53,711 --> 00:20:56,213 Or in 2009, right after I graduated college. 408 00:20:56,213 --> 00:20:59,800 I guess they were busy with that whole "market crash" thing then. 409 00:21:02,845 --> 00:21:04,513 ♪ Send it to a rich nigga... ♪ 410 00:21:04,513 --> 00:21:06,474 - Fuck! 411 00:21:06,474 --> 00:21:07,600 ♪ Stack it-- ♪ 412 00:21:15,524 --> 00:21:16,817 Kevin, you son of a bitch! 413 00:21:16,817 --> 00:21:18,944 You can't run with a baby. You can't run with a baby! 414 00:21:18,944 --> 00:21:21,864 - Don't take my car, man! - I fucked up your seat! 415 00:21:21,864 --> 00:21:23,491 There's no gas left. 416 00:21:24,283 --> 00:21:26,410 - I know. 417 00:21:27,786 --> 00:21:30,539 - ♪ You in the zone ♪ - ♪ I can be a better man... ♪ 418 00:21:37,046 --> 00:21:38,672 How did that taste? 419 00:21:40,966 --> 00:21:43,010 Hey-oh, can I put my pants back on? 420 00:21:43,010 --> 00:21:44,094 No! 421 00:21:44,094 --> 00:21:49,517 "Choose a player and put your hand down their panties for a whole minute." 422 00:21:49,517 --> 00:21:51,060 Panties, who's got panties? 423 00:21:51,060 --> 00:21:52,561 "Two shots if they refuse." 424 00:21:52,561 --> 00:21:54,980 - I mean, I got some panties. 425 00:21:54,980 --> 00:21:56,607 - Ew! 426 00:21:56,607 --> 00:21:59,693 - Bro. 427 00:22:00,861 --> 00:22:03,113 - Hello. - All right. 428 00:22:04,156 --> 00:22:05,950 - All right. - Hey, girl. 429 00:22:05,950 --> 00:22:07,451 You said two shots, right? 430 00:22:07,451 --> 00:22:08,994 Oh, c'mon. 431 00:22:10,704 --> 00:22:12,248 Fuck, all good. 432 00:22:12,248 --> 00:22:14,667 - Can someone start the timer? - I got you. I got you. 433 00:22:14,667 --> 00:22:17,169 - Should I just...? Okay. - Get in there. 434 00:22:17,169 --> 00:22:18,546 - You sure? - Yeah. 435 00:22:19,296 --> 00:22:21,340 - Whoa. 436 00:22:22,049 --> 00:22:23,384 Okay... 437 00:22:24,051 --> 00:22:26,262 Hi. 438 00:22:28,514 --> 00:22:30,933 - How are you? 439 00:22:30,933 --> 00:22:32,434 Can you shut the fuck up? 440 00:22:32,434 --> 00:22:35,145 - Fuck off! 441 00:22:35,145 --> 00:22:36,730 So what'd you do today? 442 00:22:36,730 --> 00:22:40,401 Well, I attended a Zoom seminar 443 00:22:40,401 --> 00:22:44,238 during which I watched two hours of TikTok. 444 00:22:46,073 --> 00:22:47,366 - Oh! 445 00:22:47,366 --> 00:22:50,452 I, um, purchased three shares of stock. 446 00:22:51,412 --> 00:22:52,871 Okay, what stock? 447 00:22:52,871 --> 00:22:55,624 - GameStop. - Yo, Roaring Kitty! 448 00:22:55,624 --> 00:22:57,376 C'mon. Yes, James. 449 00:22:57,376 --> 00:23:00,129 - Can I please put some pants back on? 450 00:23:00,129 --> 00:23:01,213 - No! - Sit down. 451 00:23:01,213 --> 00:23:04,508 I'm three days into that shit. Look it. That's just, that's only from today. 452 00:23:04,508 --> 00:23:06,927 I don't care. I don't know what the fuck I'm doing. 453 00:23:06,927 --> 00:23:08,178 I just know I'm making money. 454 00:23:08,178 --> 00:23:09,722 I'm not sold on that. 455 00:23:09,722 --> 00:23:11,515 It's doubled since summer. 456 00:23:11,515 --> 00:23:13,976 And the more people who buy in, the higher it'll go. 457 00:23:13,976 --> 00:23:16,520 That sounds like the literal definition of a pyramid scheme. 458 00:23:17,313 --> 00:23:18,939 - That's time. - Bravo! 459 00:23:23,235 --> 00:23:25,696 ♪ You make me wanna You make me wanna ♪ 460 00:23:28,115 --> 00:23:31,410 ♪ You make me wanna You make me wanna ♪ 461 00:23:31,410 --> 00:23:33,370 ♪ You make me wanna ♪ 462 00:23:35,414 --> 00:23:39,585 ♪ You make me wanna You make me wanna ♪ 463 00:23:39,585 --> 00:23:41,253 ♪ You make me wanna... ♪ 464 00:23:42,296 --> 00:23:46,133 Sorry, I have terrible allergies. And a killer headache. 465 00:23:46,133 --> 00:23:48,385 Could just be the music coming from next door though. 466 00:23:48,385 --> 00:23:52,222 You see your buddy Ken's up to 57 billion in short positions? 467 00:23:52,222 --> 00:23:54,224 Yeah, smart. The economy's in free fall. 468 00:23:55,225 --> 00:23:56,727 - Mmm. 469 00:23:58,437 --> 00:24:00,814 I honestly can't tell if that was you or Romeo. 470 00:24:00,814 --> 00:24:02,441 Very funny. 471 00:24:02,441 --> 00:24:05,527 I'm telling you. This is when they drag out the guillotines. 472 00:24:06,111 --> 00:24:08,238 - You're obsessed with him. - The man is an asshole. 473 00:24:08,238 --> 00:24:12,284 He stole five analysts from me. All mediocre by the way. 474 00:24:13,077 --> 00:24:14,286 Oh, and two paintings. 475 00:24:14,286 --> 00:24:16,580 - What paintings? - A Picasso and a de Kooning. 476 00:24:16,580 --> 00:24:18,082 He overpaid 500 million. 477 00:24:18,082 --> 00:24:20,292 That is my entire nut from last year. 478 00:24:20,292 --> 00:24:22,086 The man is an asshole. Just admit it. 479 00:24:22,086 --> 00:24:24,505 You're just bitter he stole those analysts. 480 00:24:24,505 --> 00:24:26,548 You seen Citadel's projected revenue? 481 00:24:26,548 --> 00:24:28,759 $7 billion. 482 00:24:28,759 --> 00:24:31,387 That's, uh, double last year. 483 00:24:31,387 --> 00:24:33,514 Hoovering up all the stimulus checks. 484 00:24:33,514 --> 00:24:35,599 - They go straight from the retail traders - Thank you. 485 00:24:35,599 --> 00:24:37,393 right into Kenny boy's pockets. 486 00:24:37,393 --> 00:24:41,563 The man just gets away with murder. Look at what I just sent you. 487 00:24:49,238 --> 00:24:52,825 Is this a video of a man drinking his own urine because a stock went up? 488 00:24:52,825 --> 00:24:54,076 #1 post on the site. 489 00:24:54,076 --> 00:24:55,703 Where did you get this? 490 00:24:55,703 --> 00:24:57,663 My analysts sent it to me. 491 00:24:57,663 --> 00:25:02,835 They call themselves apes and r-words. Retard, can they say that? 492 00:25:02,835 --> 00:25:06,964 Remarkably self-aware. They've hooked into GameStop for whatever reason. 493 00:25:06,964 --> 00:25:08,716 They think it's funny, it seems. 494 00:25:08,716 --> 00:25:10,092 I think it's funny. 495 00:25:10,092 --> 00:25:11,802 I think they think it's a good investment. 496 00:25:11,802 --> 00:25:14,179 Retail traders always lose. 497 00:25:16,014 --> 00:25:18,142 We've actually been short GameStop since 2014. 498 00:25:18,142 --> 00:25:23,188 The company is a complete disaster. They've had six CEOs in two years. 499 00:25:24,189 --> 00:25:26,692 Guess these guys are ignoring obvious secular market trends. 500 00:25:26,692 --> 00:25:29,820 Or they're... the stupidest people on earth. 501 00:25:29,820 --> 00:25:32,281 You're shorting more right now, aren't you? 502 00:25:32,281 --> 00:25:34,783 600,000 shares, maybe. 503 00:25:35,367 --> 00:25:36,994 Dumb money, man. 504 00:25:36,994 --> 00:25:38,495 I'm happy to take it. 505 00:25:42,499 --> 00:25:45,377 Mmm! Mmm-mmm-mmm! 506 00:25:46,003 --> 00:25:47,713 Mmm-mmm-mmm! 507 00:25:47,713 --> 00:25:49,673 Listen up, retards, 508 00:25:49,673 --> 00:25:54,678 Melvin Capital has declared war on GME by shorting the stock even more. 509 00:25:54,678 --> 00:25:58,766 This is our call to activate diamond hands, my fellow warriors. 510 00:25:58,766 --> 00:26:03,771 We will not let the gay bears defeat us. We are on a mission to the fucking moon. 511 00:26:03,771 --> 00:26:06,815 This is one that is bigger than your personal gains. 512 00:26:06,815 --> 00:26:09,443 More than just tendies for a new Lambo. 513 00:26:09,443 --> 00:26:13,614 This is our chance to rise up together. To stick it to the big man. 514 00:26:13,614 --> 00:26:15,866 Squeezing Melvin by the fucking balls 515 00:26:15,866 --> 00:26:18,786 with the collective power of diamond handing autists. 516 00:26:19,369 --> 00:26:22,790 Wall Street Bets I thought were a bunch of idiots just throwing money at a stock 517 00:26:22,790 --> 00:26:24,500 because they thought it was funny. 518 00:26:24,500 --> 00:26:25,834 I was wrong. 519 00:26:25,834 --> 00:26:28,378 Now I see what Wall Street Bets really is. 520 00:26:28,378 --> 00:26:31,423 - It is a revolution. - This is one of those rare moments 521 00:26:31,423 --> 00:26:33,550 where Wall Street are the ones getting screwed over. 522 00:26:33,550 --> 00:26:35,260 And when we decide we're hungry, 523 00:26:35,260 --> 00:26:37,721 there is very little the rich can do to stop us 524 00:26:37,721 --> 00:26:39,890 - from beating them. - It's a GameStop to stop the game. 525 00:26:39,890 --> 00:26:42,059 - Power to the people. - I'm jerking off right now. 526 00:26:42,059 --> 00:26:43,101 Jerking off right now. 527 00:26:43,101 --> 00:26:45,729 So welcome aboard, grab your peanuts, 528 00:26:45,729 --> 00:26:47,689 and get the fuck in, retard. 529 00:26:47,689 --> 00:26:49,858 Ho, ho, ho! 530 00:26:49,858 --> 00:26:55,280 What up, everybody? Merry Christmas, Happy New Year's, happy holidays. Uh... 531 00:26:55,280 --> 00:26:57,699 2020... See ya. 532 00:26:57,699 --> 00:27:00,828 2020 has been a very rough year for my family too. 533 00:27:00,828 --> 00:27:03,914 So this GameStop news has been a bit of a bright spot. 534 00:27:03,914 --> 00:27:06,500 Uh, look at this, I mean, where it's at. 535 00:27:06,500 --> 00:27:10,212 It's a five bagger from where it was over the summer. 536 00:27:10,212 --> 00:27:14,216 You don't often see a thesis play out like this. 537 00:27:14,216 --> 00:27:15,300 So we gotta-- 538 00:27:15,300 --> 00:27:17,928 We can't take it for granted, right? We gotta appreciate it. 539 00:27:18,846 --> 00:27:21,265 Thank you, Santa. Right. 540 00:27:22,015 --> 00:27:25,811 Uh, I wanted to say cheers all of you. 541 00:27:25,811 --> 00:27:28,063 You're why I'm here in the first place. 542 00:27:28,730 --> 00:27:31,817 Uh, it's fun to talk about. I mean, I figure, 543 00:27:31,817 --> 00:27:34,403 if I worked at a hedge fund, I'd compare notes with my colleagues. 544 00:27:34,403 --> 00:27:36,989 But I don't. I'm stuck at home like you guys. So... 545 00:27:36,989 --> 00:27:39,366 Uh, I believe in this stock. 546 00:27:39,366 --> 00:27:41,702 And I believe in this community. 547 00:27:42,369 --> 00:27:43,579 Um... 548 00:27:43,579 --> 00:27:48,458 I'll be honest, uh, it's been kind of a shitty year. 549 00:27:49,710 --> 00:27:54,464 Uh, for a lot of people. Lotta people lost people the past 12 months. I did too. 550 00:27:54,464 --> 00:27:56,717 Uh, my sister, Sara. 551 00:27:56,717 --> 00:27:57,801 Uh... 552 00:28:05,767 --> 00:28:07,644 I don't talk about it much. 553 00:28:09,438 --> 00:28:11,398 But it felt right to tell you. 554 00:28:11,398 --> 00:28:13,734 Uh, we've been through so much together. 555 00:28:13,734 --> 00:28:16,862 You've made me feel a part of something, something big. 556 00:28:17,821 --> 00:28:20,657 So, uh, Merry Christmas. Cheers. 557 00:28:54,524 --> 00:28:55,651 I like your car. 558 00:28:58,153 --> 00:28:59,363 It's a classic. 559 00:28:59,363 --> 00:29:01,031 - '95. - Yes! 560 00:29:01,031 --> 00:29:02,908 Sadly, it's a gas-guzzler. 561 00:29:02,908 --> 00:29:05,410 Yeah, yup, this one too. 562 00:29:06,370 --> 00:29:10,415 But she's such a beauty I couldn't stand to trade her. 563 00:29:10,415 --> 00:29:12,084 '96 Honda Accord? 564 00:29:12,084 --> 00:29:15,504 Uh, 2003. Not quite a classic. 565 00:29:23,887 --> 00:29:27,975 It's kinda weird to talk to someone and see their whole face. Right? 566 00:29:27,975 --> 00:29:29,518 It's been so long. 567 00:29:30,352 --> 00:29:34,106 I... I work at a hospital, you could probably tell. 568 00:29:34,106 --> 00:29:35,357 Essential worker. 569 00:29:35,941 --> 00:29:37,359 Thank you for everything you do. 570 00:29:37,359 --> 00:29:38,652 Oh, you're very welcome. 571 00:29:50,122 --> 00:29:51,540 Hey, uh... 572 00:29:52,666 --> 00:29:54,084 Have a good night. 573 00:29:55,002 --> 00:29:56,128 Cool. 574 00:29:56,920 --> 00:29:58,422 Safe travels. 575 00:30:15,105 --> 00:30:17,274 Remember when you were just making fun of me 576 00:30:17,274 --> 00:30:20,694 - and now you're literally obsessed. - No, I don't recall. 577 00:30:20,694 --> 00:30:23,655 - How much are you up? - 948. 578 00:30:23,655 --> 00:30:26,867 Stock dipped a little, it was like 2,000 before Christmas. 579 00:30:26,867 --> 00:30:28,493 Maybe you should sell. 580 00:30:30,662 --> 00:30:32,789 No. It's not about the money. 581 00:30:32,789 --> 00:30:34,791 The stock market is not about the money? 582 00:30:34,791 --> 00:30:37,377 No. You just gotta read some of the stuff on here. 583 00:30:37,961 --> 00:30:41,673 Never understood why my dad was so pissed off about this whole thing, 584 00:30:41,673 --> 00:30:42,799 but now I do. 585 00:30:44,384 --> 00:30:45,886 I told you about his store, right? 586 00:30:45,886 --> 00:30:47,345 Costco? 587 00:30:48,013 --> 00:30:49,514 Shopko. 588 00:30:49,514 --> 00:30:51,183 It was like, this like... 589 00:30:52,017 --> 00:30:53,810 big chain in our area. 590 00:30:54,644 --> 00:30:58,523 My dad, he worked his way all the way up from bag boy to general manager. 591 00:30:59,274 --> 00:31:01,985 Then one of these Wall Street funds came in, bought it, 592 00:31:01,985 --> 00:31:06,448 and vampire-sucked all the money out of it and then declared bankruptcy. 593 00:31:06,448 --> 00:31:07,616 Fuck. 594 00:31:08,742 --> 00:31:09,826 Yeah. 595 00:31:11,536 --> 00:31:14,581 He lost his pension. Everything. 596 00:31:15,916 --> 00:31:18,794 It's why he had to work at Pick 'n fuckin' Save till the day he died. 597 00:31:18,794 --> 00:31:21,254 And now that's why I'm up to my ass in debt. 598 00:31:22,589 --> 00:31:25,258 And these fuckers are trying to do the same thing to GameStop. 599 00:31:26,718 --> 00:31:27,886 Fuck 'em. 600 00:31:29,513 --> 00:31:30,847 Fuck 'em all. 601 00:31:52,494 --> 00:31:54,371 - Wait, look. - Hm? 602 00:31:54,371 --> 00:31:55,789 Look at this. 603 00:31:55,789 --> 00:31:58,667 - This guy wants to CashApp me $100 - Shut the fuck up. 604 00:31:58,667 --> 00:32:02,712 to send him a selfie. Or 500 if I live chat him from a bubble bath. 605 00:32:02,712 --> 00:32:04,631 Yes! Yes, we should do it. 606 00:32:04,631 --> 00:32:06,842 - What? - Yes, we do it. 607 00:32:06,842 --> 00:32:09,302 And then put the money into GameStop. 608 00:32:09,845 --> 00:32:13,598 - Who am I talking to right now? - C'mon, bitch, let's go get a tub. 609 00:32:15,308 --> 00:32:17,769 ♪ We got this motherfucker lit On some money shit ♪ 610 00:32:17,769 --> 00:32:20,772 ♪ Yeah, everybody's shit Everybody's shit, yeah ♪ 611 00:32:20,772 --> 00:32:23,316 ♪ We got this motherfucker lit On some money shit ♪ 612 00:32:23,316 --> 00:32:25,986 ♪ Everybody's shit Everybody's shit ♪ 613 00:32:25,986 --> 00:32:27,320 ♪ Unh, please don't pretend... ♪ 614 00:32:27,320 --> 00:32:28,488 Your entire business 615 00:32:28,488 --> 00:32:30,615 is kids spending their lunch money on random stocks. 616 00:32:30,615 --> 00:32:32,450 They come to you because it's free. 617 00:32:32,450 --> 00:32:36,538 But if you don't charge a commission on their trades, 618 00:32:36,538 --> 00:32:38,456 how do you make money? 619 00:32:39,416 --> 00:32:45,088 The idea for Robinhood really came out of the Occupy Wall Street movement. 620 00:32:45,088 --> 00:32:46,798 All those people with no way of getting in. 621 00:32:46,798 --> 00:32:49,134 Is that what Occupy was about? 622 00:32:49,134 --> 00:32:51,928 I mean, were they trying to get in or... 623 00:32:51,928 --> 00:32:54,139 So we said, it's not enough to occupy. 624 00:32:54,139 --> 00:32:57,100 - We need to democratize Wall Street. - Nat, I'm not sure you know this, 625 00:32:57,100 --> 00:32:58,602 but Baiju and I are both immigrants. 626 00:32:58,602 --> 00:33:00,395 I was born in Bulgaria, 627 00:33:00,395 --> 00:33:03,064 and Baiju's parents immigrated from India to the Deep South. 628 00:33:03,940 --> 00:33:07,611 Can you imagine growing up in rural Virginia with a name like 629 00:33:07,611 --> 00:33:10,655 Baiju Prafulkumar Bhatt? 630 00:33:10,655 --> 00:33:13,992 We created commission-free trading so that anyone can get in the game. 631 00:33:13,992 --> 00:33:17,537 You don't even need a bank account. People have really responded. 632 00:33:17,537 --> 00:33:21,499 We've added 5 million users, uh, in the last six months, 633 00:33:21,499 --> 00:33:24,336 - for a total of, um... - Close to 20 at this point. Million. 634 00:33:24,336 --> 00:33:26,171 So, you're one of these tech companies 635 00:33:26,171 --> 00:33:28,506 that's exploded growth-wise, but doesn't make any money. 636 00:33:28,506 --> 00:33:30,342 - We make money. - But how? 637 00:33:30,342 --> 00:33:33,345 - If you don't charge commission then... - From interest on people's accounts. 638 00:33:33,345 --> 00:33:34,930 But your users are mostly young. 639 00:33:34,930 --> 00:33:37,724 So, how much money can they really be keeping in their account? 640 00:33:37,724 --> 00:33:39,351 There's also payment for order flow. 641 00:33:39,351 --> 00:33:40,268 What's that? 642 00:33:40,268 --> 00:33:43,146 We prefer the term "stock order routing." 643 00:33:43,146 --> 00:33:45,106 When you buy or sell a stock on our app, 644 00:33:45,106 --> 00:33:47,901 we send your order to market makers, who process the order. 645 00:33:47,901 --> 00:33:50,278 They pay us a tiny rebate on every trade. 646 00:33:50,278 --> 00:33:52,072 - Tiny. - But it adds up. 647 00:33:52,072 --> 00:33:54,407 We should really get back to how we... started our company. 648 00:33:54,407 --> 00:33:55,909 What market maker do you work with? 649 00:33:55,909 --> 00:33:58,203 A few. Citadel Securities mostly. 650 00:33:58,203 --> 00:34:00,580 Ken Griffin's firm? Isn't that a hedge fund? 651 00:34:00,580 --> 00:34:04,167 Well, Ken Griffin's hedge fund is called Citadel. 652 00:34:04,167 --> 00:34:06,836 But Citadel Securities is a completely different company. 653 00:34:06,836 --> 00:34:08,630 Also owned by Ken Griffin? 654 00:34:10,048 --> 00:34:11,132 All right, 655 00:34:11,800 --> 00:34:14,469 we weren't gonna do this, but we'll give you a scoop. 656 00:34:15,136 --> 00:34:16,972 Off the record for now. 657 00:34:17,639 --> 00:34:18,682 Okay. 658 00:34:20,016 --> 00:34:21,935 We're looking to IPO soon. 659 00:34:23,812 --> 00:34:26,314 Damn. Okay. 660 00:34:27,440 --> 00:34:28,275 That's big. 661 00:34:29,776 --> 00:34:32,737 ♪ Girl, I can buy your ass the world With my paystub ♪ 662 00:34:32,737 --> 00:34:36,116 ♪ Ooh, that pussy good Won't you sit it on my taste bloods? ♪ 663 00:34:36,116 --> 00:34:39,411 ♪ I get way too petty Once you let me do the extras ♪ 664 00:34:39,411 --> 00:34:42,372 ♪ Pull up on your block then break it down We playin' Tetris ♪ 665 00:34:42,372 --> 00:34:45,583 ♪ AM to the PM, PM to the AM, funk ♪ 666 00:34:45,583 --> 00:34:48,795 ♪ Piss out your per diem You just gotta hate 'em, funk ♪ 667 00:34:48,795 --> 00:34:50,255 ♪ If I quit your BM ♪ 668 00:34:50,255 --> 00:34:52,465 ♪ Hold up Sit down, lil bitch ♪ 669 00:34:52,465 --> 00:34:54,384 ♪ Be humble, lil bitch... ♪ 670 00:34:54,384 --> 00:34:55,760 Okay, don't say the bad word. 671 00:34:55,760 --> 00:34:57,012 ♪ Be humble ♪ 672 00:34:57,012 --> 00:34:58,680 ♪ Sit down ♪ 673 00:34:58,680 --> 00:35:00,265 ♪ ...be humble... ♪ 674 00:35:00,265 --> 00:35:02,934 ♪ Sit down, be humble ♪ 675 00:35:03,560 --> 00:35:04,853 - ♪ Sit down ♪ - ♪ Sit down ♪ 676 00:35:04,853 --> 00:35:06,771 - ♪ ...be humble ♪ - ♪ Hold up, lil bitch ♪ 677 00:35:06,771 --> 00:35:09,524 - ♪ Sit down, be humble ♪ - ♪ Sit down, lil bitch ♪ 678 00:35:09,524 --> 00:35:11,651 - ♪ Bitch, sit down ♪ - ♪ Hold up... ♪ 679 00:35:11,651 --> 00:35:13,903 ♪ Be humble, sit down, lil bitch ♪ 680 00:35:13,903 --> 00:35:16,156 Kev, please. Your father needs to concentrate. 681 00:35:16,156 --> 00:35:17,365 ♪ Well, sit down, lil bitch ♪ 682 00:35:17,365 --> 00:35:20,243 Drove long-haul for forty years. I don't need to concentrate. 683 00:35:20,243 --> 00:35:22,662 - Fine. I need to concentrate. 684 00:35:22,662 --> 00:35:24,914 - What do you need to concentrate about? 685 00:35:24,914 --> 00:35:26,082 What? 686 00:35:26,082 --> 00:35:28,293 I thought they were veering over into our lane. 687 00:35:28,293 --> 00:35:30,879 Nobody was veering, Elaine. It's okay. 688 00:35:34,841 --> 00:35:36,885 You talk to any of the girls at the clinic? 689 00:35:36,885 --> 00:35:38,595 A few of them have called. 690 00:35:41,890 --> 00:35:43,308 I miss it. 691 00:35:43,308 --> 00:35:45,143 Boys, never retire. 692 00:35:45,810 --> 00:35:47,479 Keith, never retire. 693 00:35:48,146 --> 00:35:50,148 Kevin, if you ever get a job, never retire. 694 00:35:50,148 --> 00:35:51,232 I have a job! 695 00:35:51,232 --> 00:35:53,526 Yet you still live with Ma and Dad. 696 00:35:53,526 --> 00:35:57,155 Oh, you're some big professional now cuz you're fucking king dork on YouTube? 697 00:35:57,155 --> 00:35:58,490 Just one of many dorks. 698 00:35:58,490 --> 00:36:00,825 This asshole thinks he's Jimmy Buffett now. 699 00:36:00,825 --> 00:36:02,410 - C'mon. - Warren Buffett. 700 00:36:02,410 --> 00:36:04,454 - Warren Buffett. - See? 701 00:36:04,454 --> 00:36:07,457 You're not either of the Buffetts, Kitty! 702 00:36:10,710 --> 00:36:11,961 You're Ballz? 703 00:36:15,256 --> 00:36:16,966 - Hey! - Ah, good Christ. 704 00:36:16,966 --> 00:36:17,884 - Fellas. - Ma. 705 00:36:17,884 --> 00:36:20,345 - Drop! Stop it! 706 00:36:24,808 --> 00:36:25,975 Door Dash is not a job. 707 00:36:27,143 --> 00:36:28,186 MassMutual's a job. 708 00:36:28,186 --> 00:36:30,438 - A job's got business cards. - Door Dash is a job. 709 00:36:30,438 --> 00:36:31,731 Okay, I'm a first responder. 710 00:36:31,731 --> 00:36:34,526 And second of all, Ma, nobody uses business cards anymore. 711 00:36:36,277 --> 00:36:38,196 We're proud of you, honey. 712 00:36:39,239 --> 00:36:40,490 Get a room. 713 00:37:00,385 --> 00:37:03,388 Take your time. I'll be in the car. 714 00:37:15,567 --> 00:37:16,901 Yeah. 715 00:37:25,493 --> 00:37:26,786 Love you. 716 00:37:50,852 --> 00:37:52,437 It has been dragging on. 717 00:37:52,437 --> 00:37:54,731 Honestly, I don't know when we'll be able to start demo 718 00:37:54,731 --> 00:37:56,566 because local ordinances are a nightmare. 719 00:37:56,566 --> 00:37:59,819 My heart bleeds for you. Having to borrow a tennis court. 720 00:37:59,819 --> 00:38:01,613 "Borrower is slave to the lender." 721 00:38:01,613 --> 00:38:02,655 Is that Buffett? 722 00:38:02,655 --> 00:38:05,867 It's the Bible. Uh, Proverbs. My Grandpa Melvin used to say it. 723 00:38:05,867 --> 00:38:07,577 When he was starting his convenience store, 724 00:38:07,577 --> 00:38:08,912 he refused to borrow one dollar. 725 00:38:08,912 --> 00:38:09,954 It was a point of pride. 726 00:38:09,954 --> 00:38:11,748 Ah, yes, your humble beginnings. 727 00:38:11,748 --> 00:38:15,877 "Grandpa Melvin" Capital, now with 16 billion under management. 728 00:38:16,461 --> 00:38:19,130 Better than "Citadel." You sound like you're preparing for war. 729 00:38:19,130 --> 00:38:20,256 I'm a man of the people. 730 00:38:20,256 --> 00:38:21,466 You rented out a resort, 731 00:38:21,466 --> 00:38:24,886 and relocated your entire firm here so you could stay open during lockdown. 732 00:38:24,886 --> 00:38:28,139 Says the man who flew his whole firm down private just for a party. 733 00:38:28,139 --> 00:38:30,058 And anyway, what kind of company shuts down 734 00:38:30,058 --> 00:38:31,935 just because the government tells them to? 735 00:38:31,935 --> 00:38:34,145 All the ones in your short portfolio. 736 00:38:34,145 --> 00:38:36,105 - And yours. - Ah! 737 00:38:36,105 --> 00:38:38,733 - All except for one actually. - Which one? 738 00:38:38,733 --> 00:38:40,693 - GameStop. - How? 739 00:38:40,693 --> 00:38:43,363 They sell computer mouses. Mice? 740 00:38:43,363 --> 00:38:45,532 They claim it makes them an essential business. 741 00:38:45,532 --> 00:38:48,117 That is the smartest dumbest thing I've ever heard. 742 00:38:48,117 --> 00:38:50,912 I know, it's actually a fun one. The revenue's in the toilet. 743 00:38:50,912 --> 00:38:53,706 632 million net loss last year. 744 00:38:53,706 --> 00:38:56,751 They'd be better off just burning the whole company down. 745 00:38:56,751 --> 00:38:59,921 The stock though, it has been volatile. It's been up. 746 00:38:59,921 --> 00:39:02,507 - Buybacks? - Retail traders. 747 00:39:02,507 --> 00:39:04,717 - Bro. I don't have it, bro. 748 00:39:04,717 --> 00:39:05,843 - Damn, brother. - Sorry, man. 749 00:39:05,843 --> 00:39:07,303 - Yeah, yeah, yeah. - Have a good one, bro. 750 00:39:07,303 --> 00:39:09,722 - Yo, stay up though! Aight, bro. Aight. - Yeah. 751 00:39:15,395 --> 00:39:17,021 I'm gonna put these back real quick. 752 00:39:24,529 --> 00:39:25,697 Hey, Marcos. 753 00:39:26,656 --> 00:39:27,824 Yes, Bradley? 754 00:39:29,117 --> 00:39:31,661 Uh, I... I love how you engaged with that customer, 755 00:39:31,661 --> 00:39:33,955 but we really wanna close those pre-owned sales. 756 00:39:33,955 --> 00:39:35,331 The margin's more than double. 757 00:39:35,331 --> 00:39:36,833 Oh shit, double. 758 00:39:36,833 --> 00:39:38,793 Yeah, you didn't do any of the five prongs, dude: 759 00:39:38,793 --> 00:39:42,255 Pre-orders. Reward-card subscriptions. Used sales. New sales. Trade-ins. 760 00:39:42,255 --> 00:39:44,048 Yeah, I mean, when I was a 16-year old gamer, 761 00:39:44,048 --> 00:39:46,050 all I wanted was a reward-card subscription. 762 00:39:46,050 --> 00:39:49,387 $5 cash back monthly, 20 points for every dollar spent... 763 00:39:49,971 --> 00:39:50,805 Don't get me started. 764 00:39:50,805 --> 00:39:53,391 A lot of really smart people in corporate put this plan together. 765 00:39:53,391 --> 00:39:55,810 Yeah, but any of them ever played a video game? 766 00:39:55,810 --> 00:39:58,771 Uh, it doesn't matter, Marcos, because they own our asses. 767 00:39:58,771 --> 00:40:01,941 Yo, they don't own my ass, so. 768 00:40:02,483 --> 00:40:03,568 They do, 769 00:40:03,568 --> 00:40:05,028 and they always will. 770 00:40:08,114 --> 00:40:09,157 Mask. 771 00:40:11,075 --> 00:40:12,327 Hey, Bradley. 772 00:40:15,455 --> 00:40:17,540 You ever heard of a short squeeze? 773 00:40:25,298 --> 00:40:27,091 Is that a sexual thing? 774 00:40:28,926 --> 00:40:30,303 No. 775 00:40:31,763 --> 00:40:33,139 Oh, yeah! 776 00:40:33,139 --> 00:40:35,767 Here's what's going on. Late last year, 777 00:40:35,767 --> 00:40:40,438 hedge funds started shorting stock in the retail store GameStop. 778 00:40:40,438 --> 00:40:44,025 Meaning they had bet against it and needed it to drop in price 779 00:40:44,025 --> 00:40:47,820 for their investments to be successful. Now unfortunately for the hedge funds, 780 00:40:47,820 --> 00:40:53,368 small investors started buying the stock led by something called Wall Street Bets, 781 00:40:53,368 --> 00:40:57,038 a popular, juvenile, foul-mouthed Reddit page. 782 00:40:57,038 --> 00:40:58,873 And when Wall Street Bets noticed 783 00:40:58,873 --> 00:41:02,710 that hedge funds had taken a large short position in GameStop stock, 784 00:41:02,710 --> 00:41:05,380 they decided to punish the Wall Street big boys 785 00:41:05,380 --> 00:41:08,216 and launched a coordinated buying spree. 786 00:41:08,841 --> 00:41:11,844 The revolutionaries on Reddit are spanking Wall Street's ass. 787 00:41:11,844 --> 00:41:17,934 GameStop shares absolutely going nuts. I think it was up over 70% at one point. 788 00:41:17,934 --> 00:41:19,894 - Massive short squeeze, - Show me... 789 00:41:19,894 --> 00:41:22,647 - closing there, with a gain of 51% - the tendiesss! 790 00:41:22,647 --> 00:41:24,607 after traders on message boards... 791 00:41:28,027 --> 00:41:29,445 What? 792 00:41:29,445 --> 00:41:34,450 Happy Wednesday! Happy hump day! Gee... look at this! 793 00:41:34,450 --> 00:41:35,868 Look at this shit! 794 00:41:35,868 --> 00:41:39,080 A 90% increase in one day? In one fucking day! 795 00:41:39,080 --> 00:41:42,458 We're goin' to the mooooon. 796 00:41:42,458 --> 00:41:45,628 Whoa-ho-ho-ho! 797 00:41:45,628 --> 00:41:48,256 Okay, now, if you've been watching this price action, 798 00:41:48,256 --> 00:41:49,424 this is what I'm talking about. 799 00:41:49,424 --> 00:41:51,509 Yeah, but you can really feel that panic from Wall Street, right. 800 00:41:51,509 --> 00:41:53,886 When they... we're starting to feel a little squeeze. Starting to feel it. 801 00:41:53,886 --> 00:41:55,430 You're starting to really feel a little squeeze. 802 00:41:55,430 --> 00:41:58,224 I need a drink. I need a drink. I know we all drinking tonight. 803 00:41:58,224 --> 00:41:59,767 We fucking did it! 804 00:41:59,767 --> 00:42:02,562 We started from the bottom and now we're here! 805 00:42:02,562 --> 00:42:05,940 - Let's raise a glass 806 00:42:05,940 --> 00:42:09,861 to a great company that's undervalued, cheers. 807 00:42:10,445 --> 00:42:14,073 Soon may the tendiemen come... Show me the tendies. Show me the tendies. 808 00:42:14,073 --> 00:42:15,324 I got 'em right here. 809 00:42:15,324 --> 00:42:18,703 Show me the tendies. I just gotta... I just gotta dip. 810 00:42:18,703 --> 00:42:21,414 I just gotta... I just gotta dip. Ah! 811 00:42:22,832 --> 00:42:23,666 Mmm. 812 00:42:23,666 --> 00:42:26,502 ♪ No way And I would do... ♪ 813 00:42:26,502 --> 00:42:29,338 Mmm-mmm-mmm. 814 00:42:29,338 --> 00:42:31,048 11 fucking million dollars? 815 00:42:31,048 --> 00:42:32,008 What the fuck! 816 00:42:32,008 --> 00:42:34,761 - Oh, language. The baby's here. - What are you gonna do? 817 00:42:34,761 --> 00:42:37,054 Get a Ferrari? A Lambo? 818 00:42:37,054 --> 00:42:38,806 Caroline, you're gonna ask for a big diamond, right? 819 00:42:38,806 --> 00:42:40,183 I have a diamond. 820 00:42:40,183 --> 00:42:42,643 Keith, you get a fucking diamond! If I were you, I'd look like 821 00:42:42,643 --> 00:42:45,229 - DJ Khaled right now. - Kev! It's not real. 822 00:42:45,229 --> 00:42:46,856 I mean, it's real, but it's just paper. 823 00:42:46,856 --> 00:42:49,942 Just on paper! You're gonna sell, right? 824 00:42:49,942 --> 00:42:51,235 - No! - Maybe. 825 00:42:51,778 --> 00:42:54,489 I mean, I don't know. Uh... 826 00:42:54,489 --> 00:42:57,992 - We... we haven't talked about it. - What the fuck is wrong with you? 827 00:42:57,992 --> 00:43:01,245 I'm riding Mom's bike every day to Dorchester to drop off cheeseburgers 828 00:43:01,245 --> 00:43:02,705 because you won't let me use your fucking car. 829 00:43:02,705 --> 00:43:04,874 And you're mister "I won't sell and take millions of dollars." 830 00:43:04,874 --> 00:43:07,210 And, well, what you do with your life is your choice. 831 00:43:07,210 --> 00:43:10,129 You think I wanted to get laid off from Dick's during a global pandemic? 832 00:43:10,129 --> 00:43:13,341 I love those sneakers, man. I loved that store. I love Dick's. 833 00:43:13,341 --> 00:43:16,427 - Mom's bike doesn't even have gears. - We don't know if it's reached the top. 834 00:43:16,427 --> 00:43:19,347 The stock jumped like 23% yesterday. 835 00:43:19,347 --> 00:43:21,224 - Double from Friday's close. - But he's right. 836 00:43:21,224 --> 00:43:23,601 I mean, 11 million dollars is a lot of fucking dough. 837 00:43:23,601 --> 00:43:24,852 - Thank you! - Okay, yes, 838 00:43:24,852 --> 00:43:27,980 but since Ryan Cohen joined the board, the... 839 00:43:27,980 --> 00:43:29,315 This fucking guy. 840 00:43:29,315 --> 00:43:31,734 ...got a 2 billion market cap. I mean, could it go pff? Yeah. 841 00:43:31,734 --> 00:43:34,695 But that's not what I'm seeing. That's not what I'm seeing, Kev. 842 00:43:35,780 --> 00:43:37,532 Kev? You there? 843 00:43:40,159 --> 00:43:41,285 Did he hang up? 844 00:43:41,994 --> 00:43:43,329 Yeah. 845 00:43:53,840 --> 00:43:55,716 Fuck, I think hold. 846 00:43:59,011 --> 00:44:01,722 - Girl, you gotta sell. - I'm not selling. 847 00:44:01,722 --> 00:44:02,932 How much are you up? 848 00:44:02,932 --> 00:44:04,934 58,000 and some change. 849 00:44:07,395 --> 00:44:09,814 Baby girl, what the fuck? 850 00:44:09,814 --> 00:44:11,941 You need to get out while you can. 851 00:44:11,941 --> 00:44:14,610 - Don't be an idiot. - You remember red headband guy. 852 00:44:14,610 --> 00:44:18,114 He's worth 11 million dollars. And he's not selling. 853 00:44:18,114 --> 00:44:20,157 - No fucking way. - Yes fucking way. 854 00:44:20,157 --> 00:44:22,785 This is what I'm telling you. Diamond hands. 855 00:44:23,953 --> 00:44:27,498 Diamond hands. You hold the line no matter what the market does. 856 00:44:27,498 --> 00:44:28,916 No matter what Wall Street says. 857 00:44:28,916 --> 00:44:30,960 What happens when everyone else sells first, 858 00:44:30,960 --> 00:44:33,713 and before you get out you've lost all your money? 859 00:44:33,713 --> 00:44:35,464 Are there any volunteers? 860 00:44:35,464 --> 00:44:37,341 - I'm... - Anyone? 861 00:44:37,341 --> 00:44:39,552 - We're gonna hold the line. - C'mon. 862 00:44:39,552 --> 00:44:41,679 - Someone has to go first. - Okay, yeah. I'll do it. 863 00:44:47,059 --> 00:44:48,603 Here we go everyone. 864 00:44:48,603 --> 00:44:51,606 The first Covid vaccine at Pittsburgh Presbyterian. 865 00:44:51,606 --> 00:44:53,065 Ah! 866 00:44:53,065 --> 00:44:54,525 Fuck! Fuck! 867 00:44:54,525 --> 00:44:58,529 Fuck! Guys, we need your help. What should we do? 868 00:44:59,780 --> 00:45:03,618 So listen, my girl bought in under 20 and now it is over 60. 869 00:45:03,618 --> 00:45:05,536 So like, should she sell? 870 00:45:05,536 --> 00:45:07,830 On the one hand, she has principles. 871 00:45:08,873 --> 00:45:12,251 On the other, she has 100k in student debt. So... 872 00:45:12,251 --> 00:45:15,004 One way you could think about the comparison between 873 00:45:15,004 --> 00:45:17,632 Marxism and Utilitarian tradition 874 00:45:17,632 --> 00:45:21,344 is that they both have a micro story and a macro story. 875 00:45:21,344 --> 00:45:23,721 When you think of Utilitarian tradition... 876 00:45:23,721 --> 00:45:28,142 The only thing that would convince her to sell is if Roaring Kitty sold. 877 00:45:29,352 --> 00:45:31,771 So... Where my pussy at? 878 00:45:31,771 --> 00:45:34,857 You have the micro story for the Pareto principle 879 00:45:34,857 --> 00:45:37,610 for how each individual action will go. 880 00:45:38,444 --> 00:45:39,695 But you also have a macro story. 881 00:45:39,695 --> 00:45:41,822 Where my pussy at? Where my pussy at? 882 00:45:41,822 --> 00:45:43,991 - Where my pussy at?! - Sorry. 883 00:45:43,991 --> 00:45:47,244 - Where my pussy aaaaatttt?! 884 00:45:47,244 --> 00:45:48,788 I'm so sorry. 885 00:45:48,788 --> 00:45:52,166 Hey, hey, where my pussy at? Ha! 886 00:45:52,166 --> 00:45:55,044 - Where is my pussy at? - It's not in here. 887 00:46:15,982 --> 00:46:17,733 Whoa, 888 00:46:17,733 --> 00:46:20,319 - wait, listen, hold on. 889 00:46:21,654 --> 00:46:25,324 "Future generations will look back and say 'Good men stood here, 890 00:46:25,324 --> 00:46:28,035 good men fought, and died on this ground... 891 00:46:28,035 --> 00:46:32,707 as they point to a TradingView daily chart of GME zoomed in on January.' 892 00:46:33,374 --> 00:46:35,042 Since the spawn of the stonkmarket, 893 00:46:35,042 --> 00:46:37,670 two classes of people have been pitted against each other..." 894 00:46:37,670 --> 00:46:42,258 "Eternal enemies, forever forced and fated to combat: lions and hyenas." 895 00:46:42,258 --> 00:46:46,053 "These lions... these Wall Street hedge funds have it all. 896 00:46:46,053 --> 00:46:47,221 Billions of dollars, 897 00:46:47,221 --> 00:46:52,184 bail outs for reckless trades, these dirty fucking criminal bastards." 898 00:46:52,184 --> 00:46:56,939 Yup, these fucking motherfuckers. 899 00:46:56,939 --> 00:46:58,524 "And then there's us. 900 00:46:58,524 --> 00:47:03,195 The working man, the average Joe. What do we have? 901 00:47:03,779 --> 00:47:06,574 What the fuck do we have? 902 00:47:06,574 --> 00:47:08,659 They literally call us 'dumb money.'" 903 00:47:08,659 --> 00:47:10,494 "These lions, these hedge fund guys, 904 00:47:10,494 --> 00:47:12,496 were born with silver spoons in their mouths. 905 00:47:12,496 --> 00:47:14,123 The top 1% of the 1%. 906 00:47:14,123 --> 00:47:17,793 They have massive bank accounts, eat medium rare Grade A Wagyu steak." 907 00:47:17,793 --> 00:47:20,171 What the fuck is that? That sounds delicious. 908 00:47:20,171 --> 00:47:22,590 "With truffle shavings for lunch." That's fuck! 909 00:47:22,590 --> 00:47:24,425 "They frequent the finest strip clubs. 910 00:47:24,425 --> 00:47:26,594 They have blow and escorts on their yacht parties." 911 00:47:26,594 --> 00:47:28,512 Why do we hate these guys? 912 00:47:28,512 --> 00:47:30,556 "Then you know what they will tell these escorts?" 913 00:47:30,556 --> 00:47:32,725 - What's an escort? - Stop listening! 914 00:47:32,725 --> 00:47:37,021 "When the smoking hot blonde asks them, 'Like, how do you have so much money?'" 915 00:47:37,938 --> 00:47:42,777 "You know what they say? They say 'Ha, dumb money, babe. Dumb money.'" 916 00:47:44,987 --> 00:47:47,740 - Something's burning. 917 00:47:47,740 --> 00:47:50,284 Oh... damn it. 918 00:47:50,284 --> 00:47:52,119 - Shit! - You said "shit". 919 00:48:00,961 --> 00:48:05,049 "Last, the GME trade is about class warfare. Plain and simple. 920 00:48:05,758 --> 00:48:09,011 We may be hyenas, yes. But guess what? 921 00:48:09,011 --> 00:48:12,348 You put enough of us together, and we can destroy a lion." 922 00:48:13,516 --> 00:48:16,352 It's on, motherfuckers! 923 00:48:18,521 --> 00:48:20,856 Aw, we coming for y'all. 924 00:48:20,856 --> 00:48:22,775 Y'all better get ready. 925 00:48:22,775 --> 00:48:24,026 We fucking coming for you. 926 00:48:24,026 --> 00:48:26,737 That is some nerdy shit, man. 927 00:48:27,404 --> 00:48:30,074 My brother is a fucking nerd. 928 00:48:36,413 --> 00:48:38,457 Fuck! 929 00:48:44,046 --> 00:48:46,841 Counting down from 5 and then I'm coming back in there. 930 00:48:46,841 --> 00:48:48,884 I don't think you want that. 931 00:48:50,427 --> 00:48:51,387 5. 932 00:48:52,012 --> 00:48:53,764 - 4. - 3. 933 00:48:53,764 --> 00:48:55,015 2. 934 00:48:56,225 --> 00:48:57,601 Thank you. 935 00:48:57,601 --> 00:48:59,436 - How was your day? - Long. 936 00:48:59,436 --> 00:49:04,024 It's so hard to keep them focused on Zoom school. They're just not into it. 937 00:49:04,900 --> 00:49:06,527 How was your day? 938 00:49:06,527 --> 00:49:07,695 Good. 939 00:49:09,989 --> 00:49:12,449 You're not worried about the short squeeze thing? 940 00:49:12,449 --> 00:49:14,535 The dam'll break next week. 941 00:49:14,535 --> 00:49:17,121 A few of them will decide it's gone high enough, they'll cash out, 942 00:49:17,121 --> 00:49:20,207 the rest will follow, whole thing will come crashing down. 943 00:49:20,207 --> 00:49:23,377 I can't think of the last short squeeze that actually worked. 944 00:49:24,336 --> 00:49:25,671 Ackman and Herbalife. 945 00:49:26,255 --> 00:49:28,257 Before that... Piggly Wiggly? 946 00:49:28,257 --> 00:49:29,592 Piggly Wiggly. 947 00:49:29,592 --> 00:49:34,263 Yeah. 1923, a bear cartel was shorting the Piggly Wiggly grocery store. 948 00:49:34,263 --> 00:49:39,310 The founder, he takes out a loan for what would be $150 million today. 949 00:49:39,310 --> 00:49:41,770 He buys back almost all the stock, like 99% of the stock. 950 00:49:41,770 --> 00:49:44,106 The price of the stock goes up 50%. 951 00:49:44,106 --> 00:49:46,358 - How much is GameStop up? - Then, the exchange, 952 00:49:46,358 --> 00:49:48,235 they halt trading on the stock 953 00:49:48,235 --> 00:49:51,071 so the short sellers can cover their positions. 954 00:49:51,071 --> 00:49:52,740 Is that legal? 955 00:49:52,740 --> 00:49:55,492 The founder had to declare bankruptcy. So... 956 00:49:56,368 --> 00:49:57,870 it was all fine in the end. 957 00:49:57,870 --> 00:50:00,414 And you knew all that or you looked it up? 958 00:50:01,707 --> 00:50:03,667 Every fund manager knows that story. 959 00:50:07,755 --> 00:50:09,131 You looked it up. 960 00:50:10,966 --> 00:50:12,843 Double checked some numbers maybe. 961 00:50:22,228 --> 00:50:25,147 Oh, do you see what's going on at GME? 962 00:50:25,147 --> 00:50:27,441 - There's more of these idiots. - A lot more. 963 00:50:27,441 --> 00:50:31,362 - They won't hold much longer. - Oh, Gabe, honey, they're holding. 964 00:50:31,362 --> 00:50:33,447 It just crossed a hundred. 965 00:50:35,741 --> 00:50:37,326 Gabe? 966 00:50:37,326 --> 00:50:38,827 Where are you? 967 00:50:43,249 --> 00:50:45,251 You should probably dial in. 968 00:50:45,251 --> 00:50:46,877 Yeah, be on in one sec. 969 00:50:46,877 --> 00:50:49,588 GameStop, extraordinary volatility today. 970 00:50:49,588 --> 00:50:51,840 You know, we might want to make this the stock of the day. 971 00:50:51,840 --> 00:50:55,177 Now that it's gaining 103%. That is volatility. 972 00:50:55,177 --> 00:50:57,179 I will tell you, I've never seen anything like it. 973 00:50:57,179 --> 00:50:59,765 Um, I'm concerned about it deeply. 974 00:50:59,765 --> 00:51:02,059 I'm calling it the ultimate short squeeze. 975 00:51:02,059 --> 00:51:04,728 - How much money is being made... - Holy fucking shit. 976 00:51:04,728 --> 00:51:07,064 ...now we're gonna talk about GameStop. Those shares... 977 00:51:07,064 --> 00:51:10,192 - nonstop earning about of 130% today. - Holy fucking shit! 978 00:51:10,192 --> 00:51:12,278 As bullish retail traders frenetically buy shares. 979 00:51:12,278 --> 00:51:13,195 Holy fucking shit! 980 00:51:13,195 --> 00:51:14,571 Yo, holy shit! 981 00:51:15,155 --> 00:51:16,949 - Shit balls. - Holy shit! 982 00:51:16,949 --> 00:51:18,659 You look at the chart for the month. 983 00:51:18,659 --> 00:51:21,287 - It's up 220%. - Oh, fuck! 984 00:51:21,870 --> 00:51:23,580 - Look there... It's crazy. - Everything okay? 985 00:51:23,580 --> 00:51:25,332 Holy fucking shit! 986 00:51:25,332 --> 00:51:26,542 Holy fucking shit! 987 00:51:26,542 --> 00:51:30,212 ...if you go short in some of these elaborate options trades, 988 00:51:30,212 --> 00:51:32,423 you can lose money to infinity. 989 00:51:32,423 --> 00:51:36,093 GameStop now at 123 and change, another record high. 990 00:51:36,093 --> 00:51:37,094 Holy fucking shit! 991 00:51:37,094 --> 00:51:39,388 Completely disconnected from the fundamentals. 992 00:51:39,388 --> 00:51:42,474 And this is very much being driven by retail investors. 993 00:51:42,474 --> 00:51:44,268 Many of them trading on Robinhood. 994 00:51:44,268 --> 00:51:47,146 When the music stops, somebody is gonna be left without a seat. 995 00:51:47,146 --> 00:51:48,856 This for casino money only. 996 00:51:48,856 --> 00:51:50,899 They're literally putting the game in GameStop. 997 00:51:50,899 --> 00:51:52,943 ...is the craziest I think I've ever seen. 998 00:51:52,943 --> 00:51:56,780 True investors never heard of Reddit a few years ago. 999 00:51:56,780 --> 00:51:58,657 But for that to drive a short squeeze... 1000 00:51:58,657 --> 00:52:00,117 It is Wall Street Bets. 1001 00:52:00,117 --> 00:52:02,870 It's worth going to the site because it is incredibly compelling. 1002 00:52:02,870 --> 00:52:05,706 You may think it's froth, but they are using arguments 1003 00:52:05,706 --> 00:52:07,750 that they think hold up under scrutiny. 1004 00:52:07,750 --> 00:52:10,252 - I just like the stock! - I can't look. 1005 00:52:10,252 --> 00:52:12,463 - I can't look. I can't look. - It's up another 4%. 1006 00:52:12,463 --> 00:52:14,840 I'm gonna have a fucking heart attack. Should we sell? 1007 00:52:14,840 --> 00:52:16,717 And betray your boyfriend? Absolutely not. No. 1008 00:52:16,717 --> 00:52:18,719 - The stock is up 581%. - Maybe. 1009 00:52:18,719 --> 00:52:20,888 ...they are being very specific: 1010 00:52:20,888 --> 00:52:22,181 - To break the shorts. - Yes. 1011 00:52:22,181 --> 00:52:24,308 I mean, what's going on in GameStop right now 1012 00:52:24,308 --> 00:52:26,143 conceivably could take a couple of firms out. 1013 00:52:26,143 --> 00:52:28,979 Hedge funds if they were stupid enough to be short. 1014 00:52:28,979 --> 00:52:31,023 Babe, how much did we make today? 1015 00:52:32,483 --> 00:52:33,359 5 million. 1016 00:52:33,942 --> 00:52:35,444 And yesterday? 1017 00:52:35,444 --> 00:52:36,612 4 million. 1018 00:52:39,156 --> 00:52:39,990 Babe... 1019 00:52:40,699 --> 00:52:41,742 Yeah? 1020 00:52:42,701 --> 00:52:45,412 We're, like, really fucking rich. 1021 00:52:52,086 --> 00:52:53,837 How much did we lose today? 1022 00:52:56,382 --> 00:52:57,257 A billion. 1023 00:52:59,885 --> 00:53:00,803 And yesterday? 1024 00:53:02,429 --> 00:53:03,430 A billion. 1025 00:53:08,310 --> 00:53:11,105 Some news to bring you right now is that Melvin Capital Management, 1026 00:53:11,105 --> 00:53:15,234 this is the hedge fund that had shorted this company, 1027 00:53:15,234 --> 00:53:20,906 that had effectively been attacked by an army of investors trying to push up 1028 00:53:20,906 --> 00:53:23,742 and press up the stock of GameStop. 1029 00:53:23,742 --> 00:53:26,328 They've taken a rather huge loss... 1030 00:53:26,328 --> 00:53:29,248 Sorry, if you could just put your head up for a sec? 1031 00:53:29,915 --> 00:53:30,833 Thanks. 1032 00:53:31,333 --> 00:53:32,751 How long've you been down here? 1033 00:53:33,252 --> 00:53:34,086 A few months. 1034 00:53:35,546 --> 00:53:36,880 You like the weather? 1035 00:53:39,049 --> 00:53:42,511 Heat is nice. The humidity not as much. 1036 00:53:42,511 --> 00:53:44,346 I can see that. 1037 00:53:44,346 --> 00:53:47,933 - Hm. - All right, I think you're good to go. 1038 00:54:13,625 --> 00:54:15,544 - Hey! - Hey, man. 1039 00:54:15,544 --> 00:54:17,379 - Hi. - It's good to connect. 1040 00:54:17,379 --> 00:54:18,589 You too. Great to be here. 1041 00:54:18,589 --> 00:54:19,756 - Excited. - I'm glad you are. 1042 00:54:19,756 --> 00:54:21,550 Listen, I want to get right to it. 1043 00:54:21,550 --> 00:54:24,428 From what I'm hearing, you guys are bankrupt. 1044 00:54:26,180 --> 00:54:27,681 No! What? No. 1045 00:54:27,681 --> 00:54:30,767 'Cause the word on the street is that you're drowning. 1046 00:54:30,767 --> 00:54:33,020 No, that's... That's crazy. 1047 00:54:33,020 --> 00:54:35,522 - We're doing great. - You're on the record with that? 1048 00:54:36,106 --> 00:54:36,982 Obviously. 1049 00:54:36,982 --> 00:54:40,235 All right, man. Well, then, we're gonna get the live feed up right now, 1050 00:54:40,235 --> 00:54:42,905 and then we're gonna get to you right after this next advertising break. 1051 00:54:42,905 --> 00:54:44,740 Perfect, great. Yes, can't wait. 1052 00:54:49,077 --> 00:54:51,079 All right, one more spot and then you're gonna be up. 1053 00:54:51,079 --> 00:54:54,166 I really do think this is the right time for you to communicate. 1054 00:54:54,166 --> 00:54:56,251 - Great, yes. Agreed. - Great. We're gonna do it. 1055 00:54:56,251 --> 00:54:58,754 Address it all head on. It's gonna be good. 1056 00:55:00,839 --> 00:55:03,008 - No. - What? Gabe, we're on in 10 seconds. 1057 00:55:03,008 --> 00:55:04,301 I can't do this. I'm sorry. 1058 00:55:04,301 --> 00:55:05,219 Gabe, seriously. 1059 00:55:05,219 --> 00:55:06,970 - Bye, I'm terribly sorry. - Seriously, c'mon. 1060 00:55:06,970 --> 00:55:09,056 - Good to see you. The pleasure's here. - We're going on right now. 1061 00:55:15,562 --> 00:55:16,396 Babe, 1062 00:55:17,564 --> 00:55:18,732 what's the damage? 1063 00:55:51,056 --> 00:55:52,349 Let me guess, you need cash. 1064 00:55:52,349 --> 00:55:54,393 Didn't call Ken first, did you? 1065 00:55:54,393 --> 00:55:56,061 He had Phillips reach out. 1066 00:55:56,562 --> 00:55:57,938 How much did he offer? 1067 00:55:59,439 --> 00:56:00,899 I haven't called him back yet. 1068 00:56:00,899 --> 00:56:02,359 Well, how much do you need? 1069 00:56:02,359 --> 00:56:04,778 You know what? Don't answer that. The number doesn't matter. 1070 00:56:04,778 --> 00:56:06,363 Whatever it is, I'd love to buy in. 1071 00:56:06,363 --> 00:56:08,448 Tell Ken to fill in the rest. 1072 00:56:08,448 --> 00:56:09,658 Prick. 1073 00:56:15,706 --> 00:56:16,748 - Hey, Ken. - Hey. 1074 00:56:16,748 --> 00:56:19,876 Hi, um... So, I might need... 1075 00:56:20,794 --> 00:56:21,712 Uh... 1076 00:56:22,629 --> 00:56:23,630 A new investor. 1077 00:56:23,630 --> 00:56:24,923 Consider it done. 1078 00:56:24,923 --> 00:56:26,925 Just keep moving forward. 1079 00:56:26,925 --> 00:56:29,553 Don't think about what Grandpa Melvin used to say. 1080 00:56:29,553 --> 00:56:30,887 Prick. 1081 00:56:32,764 --> 00:56:34,725 - Thank you. - Both Citadel 1082 00:56:34,725 --> 00:56:38,437 - and Point72 have infused - Poor guy. 1083 00:56:38,437 --> 00:56:41,940 $3 billion into Melvin Capital 1084 00:56:41,940 --> 00:56:44,818 - to try to shore up... - Another goddamn bailout. 1085 00:56:44,818 --> 00:56:46,528 Can you believe this crap? 1086 00:56:46,528 --> 00:56:47,738 Nobody bailed me out 1087 00:56:47,738 --> 00:56:50,741 when Richard left me alone with two toddlers, a mortgage, 1088 00:56:50,741 --> 00:56:52,034 a shit car that never works. 1089 00:56:52,034 --> 00:56:53,785 You can say "shit" but we can't? 1090 00:56:53,785 --> 00:56:55,829 It's just so damn unfair and you know it. 1091 00:56:55,829 --> 00:56:59,833 All we've done for the last year is work our asses off helping people, 1092 00:56:59,833 --> 00:57:02,544 and all we've gotten is one $600 check. 1093 00:57:02,544 --> 00:57:05,589 This idiot effs up just about as bad as anyone could eff, 1094 00:57:05,589 --> 00:57:08,634 and his friends come running in with $3 billion. 1095 00:57:08,634 --> 00:57:10,886 That's why I keep telling you: you're never gonna win. 1096 00:57:10,886 --> 00:57:13,472 Just take the money and do something nice. Pay off your mortgage. 1097 00:57:13,472 --> 00:57:15,015 Get that one braces. 1098 00:57:15,599 --> 00:57:17,100 Look who's still holding. 1099 00:57:18,560 --> 00:57:20,562 If he's in, I'm in. 1100 00:57:20,562 --> 00:57:22,522 Yeah, he's still gonna need braces. 1101 00:57:22,522 --> 00:57:23,607 Your teeth are perfect. 1102 00:57:23,607 --> 00:57:26,860 So what? The stock's up $150. How much higher is it gonna go? 1103 00:57:26,860 --> 00:57:29,154 We control the price now. Not Wall Street. 1104 00:57:29,154 --> 00:57:30,656 And no one on there is selling. 1105 00:57:30,656 --> 00:57:31,698 Shoes. 1106 00:57:31,698 --> 00:57:33,909 - Ugh. You're all so delusional. - Maybe. 1107 00:57:33,909 --> 00:57:36,328 But look at what we managed to do with these hedge funds. 1108 00:57:36,328 --> 00:57:37,954 If we keep driving up the price, 1109 00:57:37,954 --> 00:57:41,124 maybe we'll scare more of these guys into closing out their shorts, 1110 00:57:41,124 --> 00:57:43,210 and then all of that bailout money... 1111 00:57:43,210 --> 00:57:44,628 - Wait... - becomes ours. 1112 00:57:44,628 --> 00:57:45,545 your screen name... 1113 00:57:46,338 --> 00:57:47,881 is Stonkmom? 1114 00:57:52,302 --> 00:57:53,303 - Hey! - Help your mother. 1115 00:57:53,303 --> 00:57:55,806 - Why me and not Keith? - Just shut up and do it, okay? 1116 00:57:55,806 --> 00:57:58,016 - Kev, take the potatoes. - 'Cause you're rich now? 1117 00:57:58,016 --> 00:58:00,102 Mr. 23 million on paper but I won't sell. 1118 00:58:00,102 --> 00:58:02,354 - Kevin. - Loser says what? 1119 00:58:03,355 --> 00:58:05,816 - What? - Kevin, let Keith tell them. 1120 00:58:09,027 --> 00:58:09,903 Tell us what? 1121 00:58:11,530 --> 00:58:14,241 Oh, uh... I was waiting to tell you in person. 1122 00:58:14,241 --> 00:58:17,369 But the, uh, stock we bet on, GameStop, is up. 1123 00:58:17,369 --> 00:58:18,537 Ah, good. 1124 00:58:19,663 --> 00:58:22,124 - How much up? - He's up 23 million, Pop. 1125 00:58:22,708 --> 00:58:23,709 You're an asshole. 1126 00:58:23,709 --> 00:58:26,253 - Don't kid us. - Uh, it's real. 1127 00:58:26,253 --> 00:58:28,922 Yeah, it's real. And he's refusing to sell. 1128 00:58:30,799 --> 00:58:31,842 What is going on? 1129 00:58:32,884 --> 00:58:34,219 - You're pulling our leg. - No. 1130 00:58:34,219 --> 00:58:36,138 Your son's a huge Internet celebrity now. 1131 00:58:36,138 --> 00:58:38,974 Millions of people including "Stonkmom" thinks he's some like, 1132 00:58:38,974 --> 00:58:41,143 - I don't know, investment genius. - No, he is a genius. 1133 00:58:41,143 --> 00:58:42,352 No, he's not. 1134 00:58:42,352 --> 00:58:44,104 You're up 23 million? 1135 00:58:45,105 --> 00:58:46,523 And you're not selling. 1136 00:58:48,150 --> 00:58:49,484 Jesus, Mary and Joseph. 1137 00:58:49,484 --> 00:58:50,986 What the fuck is wrong with you? 1138 00:58:50,986 --> 00:58:53,321 Do you even know how much $23 million is? 1139 00:58:53,321 --> 00:58:55,615 And you're just gonna let it ride? What's the matter with you? 1140 00:58:55,615 --> 00:58:57,826 - I know what I'm doing, Dad. - But why aren't you selling? 1141 00:58:57,826 --> 00:58:59,745 What, wait! Is this illegal? Are you in trouble? 1142 00:58:59,745 --> 00:59:00,912 No. No, he's not in trouble. 1143 00:59:00,912 --> 00:59:01,997 - It's totally legal. - Yeah. 1144 00:59:01,997 --> 00:59:03,790 He's posting his balance sheet on the Internet. 1145 00:59:03,790 --> 00:59:04,958 - What? - Hedge fund managers, 1146 00:59:04,958 --> 00:59:07,419 they go on CNBC all the time to pump up the stock. 1147 00:59:07,419 --> 00:59:09,880 All I do is post my balance sheet on Wall Street Bets 1148 00:59:09,880 --> 00:59:13,133 - after market close. - You post your balance sheet? 1149 00:59:13,133 --> 00:59:14,301 Yeah, the same idiot 1150 00:59:14,301 --> 00:59:17,095 who left a fresh pair of Nikes out on the bleachers for just anyone to take. 1151 00:59:17,095 --> 00:59:18,263 So you admit they were stolen! 1152 00:59:18,263 --> 00:59:19,890 - We gotta talk about this. - You're a fuckin' moron. 1153 00:59:19,890 --> 00:59:21,349 - Least I won. - What's the point of winning 1154 00:59:21,349 --> 00:59:22,684 if you let some dipshit steal the prize? 1155 00:59:22,684 --> 00:59:24,227 You would've broke a four if you had the Zooms. 1156 00:59:24,227 --> 00:59:25,729 A four minute mile isn't everything, Kevin. 1157 00:59:25,729 --> 00:59:27,606 Maybe we should get in touch with Briggsy. 1158 00:59:27,606 --> 00:59:29,608 - You know, he works in finance. - Yes. 1159 00:59:29,608 --> 00:59:31,818 You think Briggsy knows more about this than Keith does? 1160 00:59:31,818 --> 00:59:33,862 Well, can you talk about why you're putting your stocks 1161 00:59:33,862 --> 00:59:36,114 - in the Wall Street Journal? - Wall Street Bets. 1162 00:59:36,114 --> 00:59:37,699 What if someone tries to rob you? Kidnap the baby? 1163 00:59:37,699 --> 00:59:38,950 No one's gonna kidnap the baby. 1164 00:59:38,950 --> 00:59:40,827 - Nobody wants that baby, Mom. - I'm just saying, 1165 00:59:40,827 --> 00:59:42,120 that if we're gonna talk to somebody, 1166 00:59:42,120 --> 00:59:43,830 - you need to talk to Briggsy. - Yes, honey. 1167 00:59:43,830 --> 00:59:45,415 - This is the point... - Enough! 1168 00:59:46,500 --> 00:59:48,084 You guys, Keith has literally 1169 00:59:48,084 --> 00:59:50,378 poured his heart and his soul into this for the past year. 1170 00:59:50,378 --> 00:59:51,755 He knows what he's doing. 1171 00:59:57,511 --> 01:00:00,013 I know it's been a tough time, Elaine. 1172 01:00:07,938 --> 01:00:09,022 You should still sell. 1173 01:00:11,441 --> 01:00:12,609 Think you should sell. 1174 01:00:16,446 --> 01:00:18,740 And just fuck the principle of the whole thing? 1175 01:00:18,740 --> 01:00:20,700 I don't like it any more than you do. 1176 01:00:36,049 --> 01:00:37,509 You really don't think that he's fucking selling? 1177 01:00:37,509 --> 01:00:38,426 No! 1178 01:00:38,927 --> 01:00:39,761 Ladies. 1179 01:00:41,304 --> 01:00:42,138 Masks. 1180 01:00:45,684 --> 01:00:49,062 Kids are with their father for a few days. So, I'm going to Florida. 1181 01:00:49,062 --> 01:00:51,815 You finally fucking sold. Halle­fuckin-lujah. 1182 01:00:51,815 --> 01:00:53,942 No, I'm putting it on my Visa. 1183 01:00:53,942 --> 01:00:55,026 You shitting me? 1184 01:00:55,026 --> 01:00:57,195 You're worth hundreds of thousands of dollars in stock, 1185 01:00:57,195 --> 01:00:58,822 and you're amassing credit card debt. 1186 01:00:58,822 --> 01:01:00,824 You really are out of your mind. 1187 01:01:00,824 --> 01:01:04,828 No, babe, I'm all in. Diamond hand. 1188 01:01:04,828 --> 01:01:06,913 Did you know that Gabe Plotkin gave an interview? 1189 01:01:06,913 --> 01:01:09,457 He's been getting death threats, anti-Semitic messages 1190 01:01:09,457 --> 01:01:11,793 - from these WSB guys. - It was ten comments. 1191 01:01:11,793 --> 01:01:14,713 There's always bad apples. And the moderators deleted it right away. 1192 01:01:14,713 --> 01:01:16,798 You're just gonna ride this thing till zero? 1193 01:01:16,798 --> 01:01:19,009 No. I'm buying call options. 1194 01:01:19,009 --> 01:01:22,554 - That could go to 600 by tomorrow. - Your kid is never getting braces. 1195 01:01:30,562 --> 01:01:33,106 There's 8 million people in there and they're all holding. 1196 01:01:33,106 --> 01:01:34,232 It's only going to go up. 1197 01:01:34,232 --> 01:01:35,775 It's a joke, Marcos. 1198 01:01:35,775 --> 01:01:37,819 But you're treating it like it's real life. 1199 01:01:38,695 --> 01:01:39,529 Pops. 1200 01:01:41,740 --> 01:01:42,574 Look. 1201 01:01:43,617 --> 01:01:46,036 - This is real. Hold it. Look. - Hey. 1202 01:01:46,036 --> 01:01:46,995 Aw, man. 1203 01:01:48,663 --> 01:01:50,373 8 million people is real. 1204 01:01:50,373 --> 01:01:52,042 H-O-D-L. 1205 01:01:52,751 --> 01:01:56,212 8 million don't even know how to spell "hold." 1206 01:01:56,212 --> 01:01:57,130 It's a joke. 1207 01:01:57,130 --> 01:01:59,883 - A corny joke. - It's not funny. 1208 01:02:03,678 --> 01:02:04,512 Mom, 1209 01:02:05,847 --> 01:02:06,890 look. 1210 01:02:06,890 --> 01:02:09,517 I got $175,000 in stock right now. 1211 01:02:09,517 --> 01:02:10,685 What? 1212 01:02:10,685 --> 01:02:11,645 Like serious money, 1213 01:02:11,645 --> 01:02:14,731 like I could get you a house and get you up out of here, kind of money. 1214 01:02:14,731 --> 01:02:15,899 Baby. 1215 01:02:15,899 --> 01:02:18,318 Where did you get the money to buy this? 1216 01:02:18,318 --> 01:02:19,402 Uh-huh. 1217 01:02:19,402 --> 01:02:22,280 I bought call options, for cheap. 1218 01:02:22,280 --> 01:02:25,367 - And they hit. - So now you're gonna sell? 1219 01:02:25,367 --> 01:02:26,785 Nah. No, I buy more. 1220 01:02:27,619 --> 01:02:29,454 At this price!? 1221 01:02:29,454 --> 01:02:31,498 When they hit, I'm gonna buy you a mansion. 1222 01:02:31,498 --> 01:02:32,582 It's gonna be crazy. 1223 01:02:32,582 --> 01:02:35,377 My son, I don't need a mansion. 1224 01:02:37,295 --> 01:02:38,672 Papi. 1225 01:02:39,047 --> 01:02:40,215 Be careful. 1226 01:02:40,715 --> 01:02:43,093 Don't get addicted to this, my son. 1227 01:02:43,093 --> 01:02:44,803 This can be like a drug. 1228 01:02:50,850 --> 01:02:55,605 Some breaking news right now on what has turned into the soap opera 1229 01:02:55,605 --> 01:02:59,943 and, uh, saga of the markets right now. And that is the story of GameStop. 1230 01:02:59,943 --> 01:03:02,737 A month ago today, it was trading at about 20 bucks per share. 1231 01:03:02,737 --> 01:03:04,906 Two days ago, it was under $80. 1232 01:03:04,906 --> 01:03:08,326 Today, nearly $350 a share. 1233 01:03:08,326 --> 01:03:12,372 The GameStop stock frenzy even now has the attention of the White House. 1234 01:03:12,372 --> 01:03:14,791 ...our economic team including Secretary Yellen and others 1235 01:03:14,791 --> 01:03:16,459 are monitoring the situation. 1236 01:03:16,459 --> 01:03:18,878 You're witnessing the French Revolution of finance. 1237 01:03:18,878 --> 01:03:20,296 There is a rebellion aspect to it. 1238 01:03:20,296 --> 01:03:22,382 There is an anti-establishment aspect to it. 1239 01:03:22,382 --> 01:03:24,592 I don't know if Wall Street's ever seen it like this before. 1240 01:03:24,592 --> 01:03:26,177 - No. It's generational. - We never have. 1241 01:03:26,177 --> 01:03:27,887 It's like generational injustices. 1242 01:03:27,887 --> 01:03:31,349 This is like little poor guys vs. rich guys. 1243 01:03:31,349 --> 01:03:34,227 - And poor guys are winning right now. 1244 01:03:34,227 --> 01:03:36,646 Fucking hold! If you're new here and you're trying to make a profit, 1245 01:03:36,646 --> 01:03:38,648 - fuck off! - Stop what you're doing, and listen up. 1246 01:03:38,648 --> 01:03:41,026 I own GameStop on Robinhood and I am not selling. 1247 01:03:41,026 --> 01:03:44,738 Hold. All you need to do is hold. Keep fucking holding. 1248 01:03:44,738 --> 01:03:48,450 Soon the Tendieman comes to send our rocket to the sun. 1249 01:03:48,450 --> 01:03:51,703 See this right here is the human being who's largely responsible 1250 01:03:51,703 --> 01:03:53,580 for all this GameStop stuff. 1251 01:03:53,580 --> 01:03:59,961 Just a pure specimen. A God-like undefeatable creature. 1252 01:03:59,961 --> 01:04:03,590 This is what excellence looks like. 1253 01:04:03,590 --> 01:04:04,716 I just like the stock. 1254 01:04:04,716 --> 01:04:08,344 Yesterday he posted this, that he's in profit, wait for it... 1255 01:04:09,345 --> 01:04:11,890 47 million. 1256 01:04:13,224 --> 01:04:15,602 - What the fuck is happening? 1257 01:04:15,602 --> 01:04:19,147 - What the fuck? 1258 01:04:19,147 --> 01:04:20,690 Hey, did you try a different browser? 1259 01:04:20,690 --> 01:04:22,984 - I plugged the browser. - Shit, we're fucked. 1260 01:04:24,152 --> 01:04:25,320 Bro, what the fuck? 1261 01:04:25,320 --> 01:04:27,447 - What the fuck, dude? - I told you this shit is rigged. 1262 01:04:28,865 --> 01:04:29,991 What the fuck is going on? 1263 01:04:32,535 --> 01:04:33,745 I can't get it to load. 1264 01:04:40,210 --> 01:04:41,127 Fuck! 1265 01:04:45,423 --> 01:04:46,257 What? 1266 01:04:49,427 --> 01:04:51,221 They shut down Wall Street Bets. 1267 01:04:51,721 --> 01:04:54,724 - What? -"Hateful and discriminatory content." 1268 01:04:54,724 --> 01:04:56,434 That stuff has always been on there. 1269 01:05:01,940 --> 01:05:03,274 That's weird. 1270 01:05:03,274 --> 01:05:04,275 No? 1271 01:05:05,318 --> 01:05:08,655 I mean, it's like they're trying to stop people from talking to each other. 1272 01:05:15,995 --> 01:05:17,163 Babe, are you gonna get that? 1273 01:05:17,163 --> 01:05:18,081 Yes. 1274 01:05:18,081 --> 01:05:18,998 Oh. 1275 01:05:21,126 --> 01:05:21,960 Hello? 1276 01:05:23,628 --> 01:05:26,589 Ah, yes, I am... 1277 01:05:27,090 --> 01:05:30,343 I am the Roaring Kitty and Deep F-ing Value. 1278 01:05:32,137 --> 01:05:35,557 Ah, no, but nobody ever asked me. 1279 01:05:37,642 --> 01:05:38,977 Oh, okay. 1280 01:05:38,977 --> 01:05:41,771 Sir, I just want to say how grateful I am for this job 1281 01:05:41,771 --> 01:05:43,690 and how much it means to me and my family. 1282 01:05:43,690 --> 01:05:46,109 I would never let a hobby jeopardize... 1283 01:05:47,819 --> 01:05:49,779 Okay. I understand. 1284 01:05:55,743 --> 01:05:58,204 - Yeah? - It's MassMutual. They're... 1285 01:05:58,204 --> 01:06:01,624 getting calls from reporters "concerned" about my "outside activities." 1286 01:06:01,624 --> 01:06:03,501 Was all this against the rules? 1287 01:06:03,501 --> 01:06:06,421 I wasn't...? Maybe now it is... 1288 01:06:06,421 --> 01:06:07,338 Okay. 1289 01:06:10,383 --> 01:06:11,926 Well, what was that call? 1290 01:06:13,553 --> 01:06:15,013 - Keith? - It's okay. 1291 01:06:15,013 --> 01:06:16,222 What, are you going to lose your job? 1292 01:06:16,222 --> 01:06:17,140 - What? - It's fine. 1293 01:06:18,266 --> 01:06:20,101 - They gave me a choice. - Between what? 1294 01:06:20,101 --> 01:06:21,895 Between your job and Roaring Kitty? 1295 01:06:21,895 --> 01:06:23,813 - Uh... 1296 01:06:23,813 --> 01:06:26,691 - Resign or I'm fired. - That's what he just said? 1297 01:06:27,984 --> 01:06:28,902 I got it. 1298 01:06:31,196 --> 01:06:32,322 Fuck it, Wall Street Bets is down, 1299 01:06:32,322 --> 01:06:33,239 I can't see Roaring Kitty's balance sheet. 1300 01:06:33,239 --> 01:06:34,157 Oh fuck. 1301 01:06:34,157 --> 01:06:35,408 I don't know what to do. 1302 01:06:35,909 --> 01:06:36,993 This could be the sell-off. 1303 01:06:36,993 --> 01:06:39,037 I really don't wanna do that. 1304 01:06:39,037 --> 01:06:42,207 Well, me neither. But you can't let it go to zero. 1305 01:06:43,082 --> 01:06:45,418 It's 150 grand. You need that money. 1306 01:06:45,418 --> 01:06:47,879 And nobody is gonna hold if they can't see what he's doing. 1307 01:06:50,590 --> 01:06:52,050 Close your eyes and count to three. 1308 01:06:52,759 --> 01:06:53,593 One. 1309 01:06:55,595 --> 01:06:56,512 - Two. - Two. 1310 01:06:57,722 --> 01:06:58,723 - Three. - Three. 1311 01:07:02,393 --> 01:07:04,437 - Your phone's ringing. 1312 01:07:04,437 --> 01:07:06,648 This is the sound of the world. 1313 01:07:06,648 --> 01:07:08,358 Your phone is ringing! 1314 01:07:08,358 --> 01:07:12,487 Oh, Robinhood. Yeah. It's an app. 1315 01:07:13,071 --> 01:07:14,364 It's on the phone. 1316 01:07:14,364 --> 01:07:16,741 - Yeah, no, your phone is ringing. - Oh. 1317 01:07:17,784 --> 01:07:20,078 Yes... 1318 01:07:20,078 --> 01:07:22,956 ♪ I'm a boss in a fucking dress... ♪ 1319 01:07:22,956 --> 01:07:24,874 Slow down, Norm, what did you say? 1320 01:07:25,375 --> 01:07:29,796 The NSCC just sent us a file, they want a deposit of 3 billion 1321 01:07:29,796 --> 01:07:31,506 to clear all the trades coming in. 1322 01:07:32,215 --> 01:07:33,508 Sorry. 1323 01:07:33,508 --> 01:07:34,592 Wait, who? 1324 01:07:34,592 --> 01:07:40,139 They're a subsidiary of the DTCC. And they're requesting 3 billion. 1325 01:07:40,139 --> 01:07:45,103 Ah... Okay. Sorry, it's a little loud in here. I thought you just said 3 billion. 1326 01:07:45,603 --> 01:07:46,646 I did! 1327 01:07:47,939 --> 01:07:50,650 - But we don't have 3 billion, Norm. - That's correct. 1328 01:07:50,650 --> 01:07:53,695 We've only ever raised 2 billion in the history of the company. 1329 01:07:54,570 --> 01:07:56,531 Holy fuck! What if we don't pay? 1330 01:07:56,531 --> 01:07:57,991 They shut us down. 1331 01:07:58,950 --> 01:08:01,953 The IPO, like, everything... poof. 1332 01:08:01,953 --> 01:08:04,831 Gretchen, Dan and I are going to jump on a call with Citadel at 9. 1333 01:08:08,668 --> 01:08:11,713 Maybe this would be a good time for me to chat with Ken Griffin. 1334 01:08:11,713 --> 01:08:14,424 Sure. We'll mention that. 1335 01:08:16,009 --> 01:08:17,302 I can't sleep. 1336 01:08:17,302 --> 01:08:18,344 Me neither. 1337 01:08:18,845 --> 01:08:20,138 I just feel sick! 1338 01:08:21,139 --> 01:08:22,724 We'll buy it back first thing. 1339 01:08:24,559 --> 01:08:25,977 Please shut up. 1340 01:08:40,825 --> 01:08:42,285 What the fuck. 1341 01:08:45,371 --> 01:08:46,497 Oh! What the fuck! 1342 01:08:47,540 --> 01:08:49,625 - What the fuck! - Okay, let me try. 1343 01:08:50,710 --> 01:08:52,086 Is it frozen? 1344 01:08:57,342 --> 01:08:59,135 They cut off the buy option. 1345 01:08:59,844 --> 01:09:01,387 What?! That's fucking criminal. 1346 01:09:01,387 --> 01:09:02,680 I can't hear you, Baiju! 1347 01:09:02,680 --> 01:09:04,057 What the fuck did you do? 1348 01:09:04,057 --> 01:09:05,767 - Calm down. - Me calm down? 1349 01:09:05,767 --> 01:09:07,352 You shut down trading on GameStop? 1350 01:09:07,352 --> 01:09:08,519 Not all trading. 1351 01:09:08,519 --> 01:09:09,687 Norm worked it out. 1352 01:09:09,687 --> 01:09:13,232 The DTCC agreed to lower the deposit to 700 million 1353 01:09:13,232 --> 01:09:15,401 if we shut off buying, and that's what I did. 1354 01:09:15,401 --> 01:09:17,445 - The Depository Trade Commission? 1355 01:09:17,445 --> 01:09:19,697 They're like one degree away from Ken Griffin. 1356 01:09:19,697 --> 01:09:21,908 - One more time, Baiju. 1357 01:09:21,908 --> 01:09:22,909 ...butt boys! 1358 01:09:24,911 --> 01:09:27,038 - What? - It's not going to be okay. 1359 01:09:27,038 --> 01:09:28,289 You need to fix this... 1360 01:09:28,289 --> 01:09:29,916 Shh. I know, it's okay. 1361 01:09:30,792 --> 01:09:32,210 I did fix it, Baiju. 1362 01:09:34,420 --> 01:09:37,131 We've been watching shares of GameStop all day long 1363 01:09:37,131 --> 01:09:40,802 after hitting a staggering high of $483. 1364 01:09:40,802 --> 01:09:43,763 The shares are now down to about 140. 1365 01:09:43,763 --> 01:09:46,724 Now, the best we can tell is the Robinhood app 1366 01:09:46,724 --> 01:09:51,354 that seems to have triggered what really has become a panic sell-off in this name. 1367 01:09:51,354 --> 01:09:55,983 And so if you're a retail investor or a Reddit user and you've held, 1368 01:09:55,983 --> 01:09:58,736 well, you are feeling some serious pain right now. 1369 01:09:59,946 --> 01:10:01,114 Oh God. 1370 01:10:02,573 --> 01:10:03,408 Fuck. 1371 01:10:03,408 --> 01:10:05,368 Now the criticism centered on Robinhood 1372 01:10:05,368 --> 01:10:09,330 for abandoning their followers here in favor of helping those who had shorted 1373 01:10:09,330 --> 01:10:10,873 all these stocks in the first place. 1374 01:10:10,873 --> 01:10:13,334 I don't particularly like the move on Robinhood today. 1375 01:10:13,334 --> 01:10:15,128 I'm talking to people this morning that say, 1376 01:10:15,128 --> 01:10:17,004 "Okay, that is anti-capitalism. 1377 01:10:17,004 --> 01:10:18,506 - You can't do that." - Fuck you, Robinhood! 1378 01:10:18,506 --> 01:10:23,219 There's been some controversy about Citadel and some vague accusations 1379 01:10:23,219 --> 01:10:26,389 that somehow Citadel may have been involved in Robinhood's decision, Wolf, 1380 01:10:26,389 --> 01:10:29,851 to stop or restrict trading in GameStop and other shorts... 1381 01:10:29,851 --> 01:10:30,893 Who is it from? 1382 01:10:30,893 --> 01:10:33,688 The Tendieman...? 1383 01:10:35,565 --> 01:10:36,482 Come back inside. 1384 01:10:36,482 --> 01:10:38,025 Diamond fucking hands! 1385 01:10:40,194 --> 01:10:44,365 We all know how I feel about him. I think he's a rat, a liar. 1386 01:10:44,365 --> 01:10:49,203 Okay, Vlad, you know everybody here who's watching us hates your guts, right? 1387 01:10:50,204 --> 01:10:53,708 Thank you, Dave, that's, uh... that's what I hear. 1388 01:10:53,708 --> 01:10:57,628 But I'm a really big fan of your show and hopefully I can answer 1389 01:10:57,628 --> 01:10:59,755 - some of your questions. - Vlad, can you hear us? 1390 01:10:59,755 --> 01:11:02,758 - Vlad the stock impaler. - Yes, I'm here... Hi. 1391 01:11:02,758 --> 01:11:04,886 Spill the beans, man, what happened last week? 1392 01:11:04,886 --> 01:11:07,680 Why couldn't people buy GameStop shares? 1393 01:11:07,680 --> 01:11:09,599 The people demand an answer. 1394 01:11:09,599 --> 01:11:13,144 To give you some background, I'm chief executive of Robinhood... 1395 01:11:13,144 --> 01:11:14,479 - Robbing executive. - Yeah, we know that. 1396 01:11:14,479 --> 01:11:16,147 And I just want to say, 1397 01:11:16,147 --> 01:11:18,816 - we had no liquidity problem. - Well, did something maybe shady 1398 01:11:18,816 --> 01:11:20,651 go down here? Seems weird that you'd get a sudden 1399 01:11:20,651 --> 01:11:22,778 - 10 billion dollar demand... You know. - Three, 3 billion... 1400 01:11:22,778 --> 01:11:24,989 - Okay, but 3 billion just suddenly, - Yeah. 1401 01:11:24,989 --> 01:11:27,074 - out of nowhere and... - Well, I wouldn't impute 1402 01:11:27,074 --> 01:11:30,203 any shadiness to any of this, um... 1403 01:11:30,203 --> 01:11:32,413 I don't have the full context, uh, 1404 01:11:32,413 --> 01:11:34,916 as to what was going on with the NSCC to, 1405 01:11:34,916 --> 01:11:37,960 to, uh, make these calculations. 1406 01:11:37,960 --> 01:11:40,421 To what degree are you beholden to Citadel? 1407 01:11:40,421 --> 01:11:43,799 I mean, like, basically, if Citadel is unhappy, then what happens? 1408 01:11:43,799 --> 01:11:46,761 - It was a hard temperance. - Is anyone holding you hostage right now? 1409 01:11:46,761 --> 01:11:47,678 Uh, no. 1410 01:11:47,678 --> 01:11:51,557 There's just no rational explanation on why they would do what they did 1411 01:11:51,557 --> 01:11:54,268 without outside pressure, interference. 1412 01:11:54,268 --> 01:11:56,938 And they basically cratered the stock on purpose. 1413 01:11:56,938 --> 01:11:59,982 So, I just don't believe anything that guy says. 1414 01:11:59,982 --> 01:12:02,360 I wanted to take a cold shower after seeing him say that. 1415 01:12:02,360 --> 01:12:05,029 Robinhood is facing lawsuits, we know that. 1416 01:12:05,029 --> 01:12:07,406 After halting trade, they are accused 1417 01:12:07,406 --> 01:12:09,575 - of rigging the market. - When the big guys, 1418 01:12:09,575 --> 01:12:12,828 including one of your main investors in your company started to lose, 1419 01:12:12,828 --> 01:12:15,498 you shut down the game to starve the little guy. 1420 01:12:15,498 --> 01:12:18,501 They're stealing from the poor and giving back to the rich. 1421 01:12:18,501 --> 01:12:21,879 They're robbing from the 'hood! Why? 1422 01:12:21,879 --> 01:12:24,924 - I want to be 100% clear, - All of you guys deserve to burn in hell. 1423 01:12:24,924 --> 01:12:26,300 - this decision to... - And go to jail. 1424 01:12:26,300 --> 01:12:27,426 restrict trade was not made on the direction 1425 01:12:27,426 --> 01:12:28,678 I'm just trying to get my mom out the 'hood. 1426 01:12:28,678 --> 01:12:31,472 - of Citadel or any market maker. - What the fuck? Fuck you! 1427 01:12:31,472 --> 01:12:32,890 And your Mama Dukes, you motherfucking fraud. 1428 01:12:32,890 --> 01:12:33,808 Fuck this guy. 1429 01:12:34,684 --> 01:12:37,186 This guy is just an obfuscating piece of shit. 1430 01:12:37,186 --> 01:12:38,479 Fucker. 1431 01:12:38,479 --> 01:12:40,815 There's only one man I wanna hear from right now. 1432 01:12:40,815 --> 01:12:43,442 And Wall Street Bets is down, so it's crickets. 1433 01:12:43,442 --> 01:12:45,027 It's crickets out here. 1434 01:12:45,903 --> 01:12:47,029 Say it with me. 1435 01:12:47,530 --> 01:12:49,532 - Where my pussy at! - Where my pussy at! 1436 01:12:50,241 --> 01:12:51,784 - Mr. Gill! - Mr. Gill! 1437 01:12:52,577 --> 01:12:56,414 - Roaring Kitty, I fucking love you! - Keith Gill! 1438 01:12:56,414 --> 01:12:58,165 - Keith Gill, please! - Okay. 1439 01:12:58,165 --> 01:13:01,294 - Please. - Oh, sorry, this is, like, my house, uh... 1440 01:13:01,294 --> 01:13:02,878 - You want my autograph? - Yeah. 1441 01:13:03,796 --> 01:13:04,672 You've been served. 1442 01:13:07,758 --> 01:13:10,595 Hey, to the moon, baby! To the moon. 1443 01:13:10,595 --> 01:13:11,804 Holy shit. 1444 01:13:16,726 --> 01:13:20,563 Sorry to interrupt. We need to talk about the GameStop situation. 1445 01:13:20,563 --> 01:13:21,939 I thought Mecane was handling it. 1446 01:13:21,939 --> 01:13:24,775 So did we. But the committee's specifically requested you, sir. 1447 01:13:24,775 --> 01:13:26,986 If they want specifics, they can have Mecane. 1448 01:13:27,695 --> 01:13:29,614 It's not a choice, unfortunately. 1449 01:13:33,826 --> 01:13:35,077 Shitballs. 1450 01:13:37,872 --> 01:13:38,831 Keith? 1451 01:13:40,374 --> 01:13:43,461 - A congressional subpoena. - I never did anything illegal. 1452 01:13:43,461 --> 01:13:44,920 And I always had disclaimers... 1453 01:13:45,588 --> 01:13:47,798 Why would you have disclaimers if you weren't worried? 1454 01:13:48,341 --> 01:13:50,760 They're standard practice, Caroline, everyone has them. 1455 01:13:55,765 --> 01:13:56,599 Babe... 1456 01:14:00,144 --> 01:14:02,688 - the answer is not in your computer. - Whoa! 1457 01:14:03,314 --> 01:14:07,276 There's a dozen reporters on our lawn! You have to testify before Congress. 1458 01:14:07,943 --> 01:14:10,696 - The game has changed. - I know. I hear you. 1459 01:14:10,696 --> 01:14:12,114 I don't think you do. 1460 01:14:17,662 --> 01:14:19,080 Oh, my God. We're... 1461 01:14:20,623 --> 01:14:21,957 We're gonna go to my mother's. 1462 01:14:21,957 --> 01:14:24,126 No, she has terrible Wi-Fi. 1463 01:14:24,126 --> 01:14:26,170 I'm not talking about you. 1464 01:14:26,170 --> 01:14:28,047 I'm talking about me and her. 1465 01:14:28,798 --> 01:14:30,341 You need to figure this out. 1466 01:14:43,521 --> 01:14:45,398 - Where are you going? - To the track. 1467 01:14:45,398 --> 01:14:47,733 - You were just on the track. - I'm going again. 1468 01:14:58,244 --> 01:15:00,663 Hi. Can I interest you in some champagne or a mimosa? 1469 01:15:00,663 --> 01:15:02,957 - Is it free? - It is when you sit up here. 1470 01:15:02,957 --> 01:15:04,959 Well, there is a last time for everything. 1471 01:15:04,959 --> 01:15:06,460 Oh, you'll be back. 1472 01:15:06,460 --> 01:15:10,715 I had half a million in stocks last week, but Wall Street cheated. 1473 01:15:11,215 --> 01:15:12,383 Surprise, surprise. 1474 01:15:14,176 --> 01:15:15,428 I could have cashed out. 1475 01:15:16,554 --> 01:15:18,347 I could have paid my mortgage. 1476 01:15:18,347 --> 01:15:20,015 Could have gotten my kid braces. 1477 01:15:20,015 --> 01:15:20,933 Got a new car. 1478 01:15:20,933 --> 01:15:22,685 Honey, I'm gonna get you something stronger. 1479 01:15:22,685 --> 01:15:24,186 - Thank you. - You're welcome. 1480 01:15:30,317 --> 01:15:31,444 Meow! 1481 01:15:31,444 --> 01:15:32,570 Kitty! 1482 01:15:32,570 --> 01:15:35,281 You know you can't just eat other people's food. They do reviews, right? 1483 01:15:35,281 --> 01:15:36,323 Very funny. 1484 01:15:36,323 --> 01:15:37,241 Here. 1485 01:15:37,825 --> 01:15:39,118 What's this? 1486 01:15:39,118 --> 01:15:40,578 Look, they were on sale, all right, 1487 01:15:40,578 --> 01:15:43,622 - before you get all emotional and shit. - Holy shit, you fucking softy. 1488 01:15:43,622 --> 01:15:45,833 Who put you up to this? Caro? Ma? 1489 01:15:45,833 --> 01:15:47,626 No, Dad called me in tears, 1490 01:15:47,626 --> 01:15:49,462 said my big brother needed some moral support. 1491 01:15:49,462 --> 01:15:51,922 Ah, fuck off. I can't. 1492 01:15:51,922 --> 01:15:54,008 C'mon, man. Will you at least try 'em on? Please? 1493 01:15:54,008 --> 01:15:56,051 Try 'em. C'mon, you're the richest man in Brockton, 1494 01:15:56,051 --> 01:15:58,637 - you dress like an asshole. - I lost 15 million yesterday. 1495 01:15:58,637 --> 01:16:00,598 And another 15 the day before that. 1496 01:16:00,598 --> 01:16:02,975 You're still the richest man in Brockton, like, by far. 1497 01:16:03,642 --> 01:16:07,480 Bro, you got rich dudes pissing in their pants right now. 1498 01:16:07,480 --> 01:16:10,274 I mean, c'mon, man, how many people from Brockton High can say that? 1499 01:16:10,274 --> 01:16:11,442 This has gone crazy, 1500 01:16:11,442 --> 01:16:14,278 I got reporters hounding me outside my house. 1501 01:16:14,278 --> 01:16:16,405 Yeah, man, me too. They're coming after you. 1502 01:16:17,990 --> 01:16:19,700 You didn't talk to them, did you? 1503 01:16:19,700 --> 01:16:23,037 What do I look like? I said no. I said give me 50 grand maybe. 1504 01:16:23,037 --> 01:16:24,121 Tell me you're kidding. 1505 01:16:24,121 --> 01:16:26,791 Well, if you give me 20, then maybe we wouldn't have to deal with this shit. 1506 01:16:26,791 --> 01:16:27,833 The fuck is wrong with you!? 1507 01:16:27,833 --> 01:16:31,253 Kevin, I've just been subpoenaed by Congress, man. 1508 01:16:31,253 --> 01:16:32,922 I do not have time for your bullshit. 1509 01:16:32,922 --> 01:16:35,466 - Oh, come off it, man! - Seriously, asshole. 1510 01:16:35,466 --> 01:16:37,426 - Chill! It was a joke! - Fuck! 1511 01:16:45,351 --> 01:16:46,185 I know. 1512 01:16:47,019 --> 01:16:47,895 Sorry. 1513 01:16:54,985 --> 01:16:57,154 We never used to fight this much. 1514 01:17:00,074 --> 01:17:02,034 - Sara. - I miss her. 1515 01:17:02,660 --> 01:17:03,536 Me too. 1516 01:17:04,119 --> 01:17:05,538 She kept your ego in check. 1517 01:17:06,205 --> 01:17:08,374 Whole fuckin' world kept my ego in check. 1518 01:17:09,458 --> 01:17:12,127 What the fuck are you gonna tell Congress, Keith? Huh? 1519 01:17:13,212 --> 01:17:15,256 Beg them not to send me to prison? 1520 01:17:17,508 --> 01:17:18,342 Hey... 1521 01:17:19,093 --> 01:17:23,222 Hey, do you remember back at Stonehill when they dared me to run that mile naked? 1522 01:17:23,722 --> 01:17:25,432 Yeah, there was a crazy storm that night. 1523 01:17:25,432 --> 01:17:27,142 - You dumb shit. - Fuck you, man. 1524 01:17:27,142 --> 01:17:29,562 That was dope, man. I'm a legend over there. 1525 01:17:29,562 --> 01:17:30,813 Everybody remembers that! 1526 01:17:30,813 --> 01:17:31,939 - Okay. - They do, man. 1527 01:17:31,939 --> 01:17:33,983 You don't think people remember your 4-minute 3-second mile? 1528 01:17:33,983 --> 01:17:35,943 Oh... what is this, a pep talk? 1529 01:17:35,943 --> 01:17:37,444 Motherfucker, stop hiding. 1530 01:17:37,444 --> 01:17:40,990 Seriously. Okay, stop being all meek and shit and running away. 1531 01:17:41,824 --> 01:17:44,368 What, you want me to run through lightning with my dick out? 1532 01:17:44,368 --> 01:17:45,369 Yeah. 1533 01:17:45,369 --> 01:17:47,538 Please, exactly that. 1534 01:17:48,247 --> 01:17:50,541 Run through lightning with your dick out. Fuck it. 1535 01:17:58,757 --> 01:18:00,217 You didn't go to your mom's? 1536 01:18:02,136 --> 01:18:03,345 You took the car. 1537 01:18:05,097 --> 01:18:07,182 How was the run? Did it clear your head? 1538 01:18:07,975 --> 01:18:09,518 Kev found me, brought me these. 1539 01:18:09,518 --> 01:18:12,021 Hm. You guys talked? 1540 01:18:12,521 --> 01:18:15,274 Yup, he, uh, told me to run naked. 1541 01:18:15,774 --> 01:18:17,359 - You ran naked? - No. 1542 01:18:17,359 --> 01:18:21,530 Uh, it's a metaphor. He's saying I gotta take this thing head on. 1543 01:18:22,615 --> 01:18:23,449 Well... 1544 01:18:29,038 --> 01:18:30,623 I'd kinda like to see you run naked. 1545 01:18:34,251 --> 01:18:36,921 By the way, Wall Street Bets is back up. 1546 01:18:38,547 --> 01:18:39,924 The motherfucker held. 1547 01:18:40,674 --> 01:18:45,054 Holy shit! He lost 30 million, and he still fucking held. 1548 01:18:48,432 --> 01:18:50,142 - Robinhood's back up. - What? 1549 01:18:50,935 --> 01:18:53,354 - We gotta get back in. - Where's the stock at right now? 1550 01:18:54,104 --> 01:18:55,105 109. 1551 01:18:55,606 --> 01:18:56,649 Are you sure? 1552 01:18:57,149 --> 01:18:59,902 That's like all of the money that we made back into the stock. 1553 01:19:03,781 --> 01:19:06,283 Yeah. We can't let them get away with this. 1554 01:19:08,369 --> 01:19:09,203 Fuck 'em. 1555 01:19:09,787 --> 01:19:10,996 If he's in, I'm in. 1556 01:19:11,872 --> 01:19:13,082 If he's in, I'm in. 1557 01:19:16,585 --> 01:19:17,586 Okay. 1558 01:19:19,254 --> 01:19:20,214 Fuck! 1559 01:19:26,261 --> 01:19:30,891 The frenzy continues with retail investors bidding back up GameStop. 1560 01:19:30,891 --> 01:19:33,060 - Meme stock mania is back. - ...up more than 80% 1561 01:19:33,060 --> 01:19:35,604 as those message board traders simply sent it higher. 1562 01:19:35,604 --> 01:19:37,272 Stock volatility continuing, 1563 01:19:37,272 --> 01:19:40,150 it looks like this morning once again GameStop are involved in 1564 01:19:40,150 --> 01:19:43,570 an ongoing battle between retail investors and short sellers. 1565 01:19:43,570 --> 01:19:45,114 We're gonna have a lot more on this story. 1566 01:19:45,114 --> 01:19:48,200 CEOs of Robinhood, Reddit, Citadel and Melvin Capital. 1567 01:19:48,200 --> 01:19:51,620 Along with Keith Gill, better known as Roaring Kitty 1568 01:19:51,620 --> 01:19:54,999 on social media, will be in the hot seat. 1569 01:19:59,461 --> 01:20:02,548 I'm here testifying today far removed from my background. 1570 01:20:02,548 --> 01:20:05,634 I grew up in a middle-class family in Portland, Maine. 1571 01:20:05,634 --> 01:20:07,302 My dad was a grocery store executive. 1572 01:20:07,302 --> 01:20:08,762 Maybe leave that part out. 1573 01:20:10,097 --> 01:20:11,181 The part about my dad? 1574 01:20:11,181 --> 01:20:12,307 The executive part. 1575 01:20:12,307 --> 01:20:13,892 Okay... okay. 1576 01:20:17,229 --> 01:20:21,692 I went to a public high school. I studied hard and got into Northwestern. 1577 01:20:21,692 --> 01:20:23,777 - Just say "a good college." - Upon... 1578 01:20:23,777 --> 01:20:25,362 I can't say I went to Northwestern? 1579 01:20:25,362 --> 01:20:27,239 - Too elite. - Northwestern's too... 1580 01:20:27,906 --> 01:20:28,741 All right. 1581 01:20:32,745 --> 01:20:37,332 Upon graduation, I did not have a job. Today, I'm married with four children. 1582 01:20:37,332 --> 01:20:39,585 Gabe, where do you plan on doing your testimony? 1583 01:20:41,962 --> 01:20:44,715 - Here. - In front of your wine collection? 1584 01:20:46,759 --> 01:20:49,928 I mean, this is... I don't have that big of a wine collection honestly. 1585 01:20:49,928 --> 01:20:50,971 Yeah, it's huge. 1586 01:20:50,971 --> 01:20:52,890 Digital risks seem to be overblown. 1587 01:20:52,890 --> 01:20:55,392 Two, the negative sentiment is overdone. 1588 01:20:55,392 --> 01:20:59,188 - Three, the value... - Maybe... here would be nice. 1589 01:21:02,483 --> 01:21:04,485 - Too many windows. - Too many windows... Oh. 1590 01:21:04,485 --> 01:21:05,652 It's very bright. 1591 01:21:05,652 --> 01:21:08,822 - Yeah, ocean front's not a great idea. - It's blue. 1592 01:21:08,822 --> 01:21:10,574 Yeah. Okay, I hadn't thought of that. 1593 01:21:10,574 --> 01:21:13,494 That, uh, yeah, downstairs there's more... there's probably darker rooms. 1594 01:21:13,494 --> 01:21:15,662 What a bandit. Most of you know this guy, 1595 01:21:15,662 --> 01:21:17,289 who is the Roaring Kitty character, 1596 01:21:17,289 --> 01:21:18,749 - who was really pushing it. - Holy shit. 1597 01:21:18,749 --> 01:21:20,793 - You know, voicing the information. - Yo, Riri, our boy's on the news. 1598 01:21:20,793 --> 01:21:22,711 And what's the potentially systemic risk? 1599 01:21:22,711 --> 01:21:25,047 Those relationships in D.C. are strong. 1600 01:21:25,047 --> 01:21:29,176 The guys who run those hedge funds are the guys who fund presidential campaigns. 1601 01:21:29,176 --> 01:21:31,136 - You know Roaring Kitties don't have - That's a good point. 1602 01:21:31,136 --> 01:21:32,554 - that kind of influence, - Gill is now being sued 1603 01:21:32,554 --> 01:21:33,639 - but the hedge fund managers do. - for securities fraud 1604 01:21:33,639 --> 01:21:35,974 over his alleged role in the GameStop rally. 1605 01:21:35,974 --> 01:21:38,852 Is Mr. Gill likely to appear, and if he appears, 1606 01:21:38,852 --> 01:21:43,023 is he likely to talk if he faces the potential of prosecution? 1607 01:21:43,023 --> 01:21:48,028 Fundamentals are based on three things: One, digital risks are overblown. 1608 01:21:48,028 --> 01:21:49,947 Two, the negative sentiment is overdone. 1609 01:21:49,947 --> 01:21:51,156 And three... 1610 01:21:54,868 --> 01:21:55,702 Fuck. 1611 01:21:55,702 --> 01:21:57,913 - Ah, c'mon, shut up. - I know all this. 1612 01:21:59,331 --> 01:22:01,834 You guys, you guys, stop. Stop, let's keep going. 1613 01:22:01,834 --> 01:22:02,960 All right, let's go again. 1614 01:22:02,960 --> 01:22:05,295 You're right, this is serious. You can go to jail forever. 1615 01:22:05,295 --> 01:22:06,922 - A long time. Long, long time. - All right. You ready? 1616 01:22:06,922 --> 01:22:08,882 You ready here we go. Back in the game. 1617 01:22:08,882 --> 01:22:12,052 - Mr. Gill. May I call you Mr. Gill, sir? - It's my name. 1618 01:22:12,052 --> 01:22:14,555 Why the fuck wouldn't you be able to call him Mr. Gill? 1619 01:22:14,555 --> 01:22:16,515 What were your intentions with the YouTube videos 1620 01:22:16,515 --> 01:22:18,142 and your social media posts on GameStop? 1621 01:22:18,142 --> 01:22:19,726 - Yes. - Thank you, congresswoman. 1622 01:22:19,726 --> 01:22:21,228 You're welcome. 1623 01:22:21,228 --> 01:22:23,355 I developed a theory that the company was undervalued 1624 01:22:23,355 --> 01:22:25,149 despite the significant short interest. 1625 01:22:25,149 --> 01:22:27,151 Oh, so you were aware of the short interest. 1626 01:22:27,151 --> 01:22:29,736 It is public knowledge. You can see it in the SEC filings. 1627 01:22:29,736 --> 01:22:32,072 And your goal was to break these shorts, yes? 1628 01:22:32,072 --> 01:22:35,701 To rally an online mob to artificially push the price of GameStop soaring, 1629 01:22:35,701 --> 01:22:38,829 ah, "to the moon" as they say, isn't that correct, Mr. Gill? 1630 01:22:38,829 --> 01:22:40,789 Objection, objection, you're leading the witness. 1631 01:22:40,789 --> 01:22:41,874 - Kev... - Witness. 1632 01:22:41,874 --> 01:22:43,333 I yield my time to the chair. 1633 01:22:43,333 --> 01:22:45,794 You were hoping for the short squeeze, weren't you, Mr. Gill? 1634 01:22:45,794 --> 01:22:46,962 You short squeezing bastard. 1635 01:22:46,962 --> 01:22:49,047 The short squeeze was a marginal point of the thesis. 1636 01:22:49,047 --> 01:22:51,216 Then why did you talk about it in your videos all the time? 1637 01:22:51,216 --> 01:22:53,051 You did talk about it in your videos. You talked about it a lot. 1638 01:22:53,051 --> 01:22:54,595 - You remember about the squeeze. - Exactly. 1639 01:22:54,595 --> 01:22:55,804 You were like "It's just a little squeeze." 1640 01:22:55,804 --> 01:22:56,805 Exactly. 1641 01:22:56,805 --> 01:22:59,349 Are you really asking us to believe that you weren't a leader 1642 01:22:59,349 --> 01:23:01,560 - to all these retail traders? - You're fucked, buddy. 1643 01:23:01,560 --> 01:23:03,729 - My point of view... - Asking. Yes or no? 1644 01:23:03,729 --> 01:23:05,230 - Yes or no? - Yes. So yes. 1645 01:23:05,230 --> 01:23:06,440 - Yes or no? - You are admitting it. Yes. 1646 01:23:06,440 --> 01:23:07,858 Remember you with a cheap bottle of champagne. 1647 01:23:07,858 --> 01:23:09,067 At any moment... Kevin! 1648 01:23:09,067 --> 01:23:10,110 - Kevin! - Dunking tendies like a fucking-- 1649 01:23:10,110 --> 01:23:11,028 What? 1650 01:23:12,321 --> 01:23:14,698 I'm running with my dick out. 1651 01:23:15,782 --> 01:23:17,159 Okay, why don't you just say that? 1652 01:23:17,159 --> 01:23:18,535 Okay, I'll stop. 1653 01:23:19,328 --> 01:23:24,208 All right. Mr. Gill, what exactly about the fundamentals 1654 01:23:24,208 --> 01:23:27,502 - led you to build this bull case? - What the fuck's with the voice? 1655 01:23:27,502 --> 01:23:29,838 I don't know, I was trying to do AOC, but it was flat. 1656 01:23:29,838 --> 01:23:31,131 I don't even think she's on the panel. 1657 01:23:31,131 --> 01:23:32,341 You shut the fuck up, Briggsy. 1658 01:23:32,341 --> 01:23:33,717 - I'll slap the shit out of you. - Is she on that panel? 1659 01:23:33,717 --> 01:23:34,635 - I swear to God. - You're gonna slap me? 1660 01:23:34,635 --> 01:23:36,011 - Yeah, let's go. - You ready to go? 1661 01:23:36,011 --> 01:23:38,680 - Let's go. - I've been waiting for this, dog. 1662 01:23:56,114 --> 01:23:56,949 Come here. 1663 01:24:05,707 --> 01:24:07,668 You're gonna be great. 1664 01:24:08,919 --> 01:24:11,630 If it goes bad, it's gonna be real bad. 1665 01:24:11,630 --> 01:24:13,423 Well, don't let it go bad. 1666 01:24:13,423 --> 01:24:17,678 This hearing will be first in a series of hearings by the committee 1667 01:24:17,678 --> 01:24:22,766 to examine the recent market volatility involving GameStop. 1668 01:24:22,766 --> 01:24:27,354 I want to know how each of the witnesses here today 1669 01:24:27,354 --> 01:24:29,523 - contributed to the historic... - Gabe, can you sit up? 1670 01:24:29,523 --> 01:24:32,693 trading events in January. 1671 01:24:33,235 --> 01:24:35,487 This recent market volatility 1672 01:24:35,487 --> 01:24:40,075 has put a national spotlight on institutional practices 1673 01:24:40,075 --> 01:24:41,743 by Wall Street firms. 1674 01:24:41,743 --> 01:24:45,414 And they have demonstrated the enormous potential power 1675 01:24:45,414 --> 01:24:48,125 of social media in our markets. 1676 01:24:48,709 --> 01:24:52,254 We will hear firsthand from the witnesses regarding these events. 1677 01:24:52,879 --> 01:24:57,050 The hearing will be an opportunity for this committee to get the facts 1678 01:24:57,050 --> 01:25:00,304 about the role each of the witnesses represent, 1679 01:25:00,304 --> 01:25:03,932 played in the events we are examining today. 1680 01:25:03,932 --> 01:25:06,393 Well, now, Mr. Griffin, if I could ask you this first question. 1681 01:25:06,393 --> 01:25:07,311 Of course. 1682 01:25:07,311 --> 01:25:09,479 How many people are in the room with you? 1683 01:25:10,355 --> 01:25:11,398 That's your question? 1684 01:25:11,398 --> 01:25:13,483 If you can just count how many people are in the room with you. 1685 01:25:18,113 --> 01:25:21,616 There are five people, including myself, in this room. 1686 01:25:21,616 --> 01:25:23,285 - Anyone in your organization... - Such a prick. 1687 01:25:23,285 --> 01:25:25,495 since January 1st, contact Robinhood? 1688 01:25:25,495 --> 01:25:30,334 We of course talk to Robinhood routinely in the ordinary course of business. 1689 01:25:30,334 --> 01:25:32,669 We manage a substantial portion of their order flow. 1690 01:25:32,669 --> 01:25:35,047 But did you talk to them about restricting 1691 01:25:35,047 --> 01:25:39,259 or doing anything to prevent people from buying GameStop? 1692 01:25:39,259 --> 01:25:42,054 I want to be perfectly clear. 1693 01:25:42,054 --> 01:25:45,766 We had no role in Robinhood's decision 1694 01:25:45,766 --> 01:25:48,018 - to limit trading in GameStop. - Fuck you, Ken Griffin. 1695 01:25:48,018 --> 01:25:51,897 So, if we depose everyone in your organization, we would find that? 1696 01:25:52,564 --> 01:25:53,482 That is correct. 1697 01:25:53,482 --> 01:25:56,109 Looks like a Disney Channel villain. 1698 01:25:56,109 --> 01:26:00,697 Mr. Plotkin, do you believe that there is manipulation, distrust, 1699 01:26:00,697 --> 01:26:03,617 and overall inequality within American finance? 1700 01:26:03,617 --> 01:26:05,786 My focus is on my company, Melvin... 1701 01:26:07,454 --> 01:26:08,622 Hello? 1702 01:26:08,622 --> 01:26:10,332 You're on mute, dick! 1703 01:26:10,332 --> 01:26:11,958 Ah, I'm sorry, you're on mute. 1704 01:26:16,171 --> 01:26:17,839 He just keeps going. 1705 01:26:17,839 --> 01:26:19,674 ...my area of expertise. 1706 01:26:19,674 --> 01:26:23,428 You're still on mute. I haven't been able to hear a word you said, unfortunately. 1707 01:26:23,428 --> 01:26:25,806 Mr. Tenev, would you be willing to commit today 1708 01:26:25,806 --> 01:26:27,974 - to voluntarily pass on the proceeds... - Oh. Marry me. 1709 01:26:27,974 --> 01:26:30,769 of the payment for order flow to Robinhood customers? 1710 01:26:30,769 --> 01:26:33,313 Congresswoman, I appreciate that question. 1711 01:26:33,313 --> 01:26:37,526 When the statement you refer to was made, it was before Robinhood forced 1712 01:26:37,526 --> 01:26:39,528 the entire industry to drop 1713 01:26:39,528 --> 01:26:41,238 - commissions and replicate our... - I should take that as a no. 1714 01:26:41,238 --> 01:26:44,074 You're not willing to pass on the proceeds of payment for order flow 1715 01:26:44,074 --> 01:26:45,033 to your customers? 1716 01:26:45,033 --> 01:26:47,744 - When the other brokers drop... - I'm just talking about today. 1717 01:26:47,744 --> 01:26:48,954 - Asshole. - I don't want to be rude. 1718 01:26:48,954 --> 01:26:50,330 I just have limited time, 1719 01:26:50,330 --> 01:26:54,334 but if removing the revenues that you make from a payment for order flow 1720 01:26:54,334 --> 01:26:57,838 would cause the removal of free commissions, 1721 01:26:57,838 --> 01:26:59,631 doesn't that mean that trading on Robinhood 1722 01:26:59,631 --> 01:27:01,591 isn't actually free to begin with? 1723 01:27:01,591 --> 01:27:02,968 Good question. 1724 01:27:09,599 --> 01:27:11,852 Thank you very much, Mr. Gill. 1725 01:27:11,852 --> 01:27:16,481 You are now recognized for five minutes to present your oral testimony. 1726 01:27:28,410 --> 01:27:30,871 Thank you, members of the committee. 1727 01:27:33,415 --> 01:27:36,710 I am happy to discuss my purchase of GameStop shares 1728 01:27:37,294 --> 01:27:40,672 and my discussions of their fair value on social media. 1729 01:27:41,506 --> 01:27:43,133 But before I do that, 1730 01:27:43,133 --> 01:27:45,051 a few things I am not: 1731 01:27:46,845 --> 01:27:48,054 I am not a cat. 1732 01:27:49,598 --> 01:27:51,850 - What did he say? - He just said cat, Ma. 1733 01:27:51,850 --> 01:27:53,143 It's like a kitty thing. 1734 01:27:53,143 --> 01:27:55,562 Nor am I a hedge fund. I do not have clients, 1735 01:27:55,562 --> 01:28:00,901 and I do not provide personalized investment advice for fees or commissions. 1736 01:28:00,901 --> 01:28:02,986 I grew up in Brockton, Mass. 1737 01:28:03,737 --> 01:28:05,614 My family was not wealthy. 1738 01:28:05,614 --> 01:28:08,950 My father was a truck driver and my mom a registered nurse. 1739 01:28:08,950 --> 01:28:11,161 - That's you, Ma! - I was one of three kids 1740 01:28:11,161 --> 01:28:14,247 and the first in my family to earn a four-year college degree 1741 01:28:14,247 --> 01:28:18,418 when I graduated from Stonehill College in 2009. 1742 01:28:18,418 --> 01:28:20,545 That was not a good time to be looking for a job. 1743 01:28:20,545 --> 01:28:23,048 From 2010-2017, 1744 01:28:23,048 --> 01:28:26,510 there were significant periods when I was unemployed. 1745 01:28:26,510 --> 01:28:28,887 I took an interest in the stock market, 1746 01:28:28,887 --> 01:28:31,181 and even though I had very little money, 1747 01:28:31,181 --> 01:28:35,393 I used those times to educate myself and learn more about investing. 1748 01:28:35,393 --> 01:28:39,356 Mr. Gill, I find it hard to believe that you predicted everything 1749 01:28:39,356 --> 01:28:43,026 that happened to GameStop with no inside information. 1750 01:28:43,026 --> 01:28:44,778 Uh, I didn't predict it. 1751 01:28:44,778 --> 01:28:48,156 I honestly couldn't explain everything that happened in January. 1752 01:28:48,156 --> 01:28:51,993 I've seen your videos. You honestly couldn't recount to the committee 1753 01:28:51,993 --> 01:28:56,581 what caused every single up and down of the stock in January? 1754 01:28:57,165 --> 01:28:58,291 I think you could. 1755 01:28:59,626 --> 01:29:03,004 I did follow the stock, uh, very closely, 1756 01:29:03,004 --> 01:29:06,633 but threshold lists, order flows, halting purchases, according to the press, 1757 01:29:06,633 --> 01:29:08,593 these all had a material impact on the stock. 1758 01:29:08,593 --> 01:29:11,263 Here's the thing: I have a bit of experience with this stuff, 1759 01:29:11,263 --> 01:29:13,265 and even I barely understand these matters. 1760 01:29:13,265 --> 01:29:17,143 It's alarming how little we all know about the inner workings of the market. 1761 01:29:17,143 --> 01:29:19,854 Which is why I'm glad this committee is examining what happened, 1762 01:29:19,854 --> 01:29:22,649 particularly with the exorbitant short interest 1763 01:29:22,649 --> 01:29:25,610 as well as any potentially manipulative shorting practices 1764 01:29:25,610 --> 01:29:29,781 and brokers' reported failures to timely deliver shares and settle trades. 1765 01:29:33,076 --> 01:29:35,287 A lot of people feel the system is broken. 1766 01:29:35,287 --> 01:29:39,374 The whole idea of the stock market is to be, like, kind of a fair playing field, 1767 01:29:39,374 --> 01:29:43,295 where if you're smart, maybe with a little luck, you could make your fortune. 1768 01:29:44,087 --> 01:29:46,423 But, if it ever was that, it's certainly not any more. 1769 01:29:47,507 --> 01:29:50,844 The big firms have such a big advantage, in terms of technology and information 1770 01:29:50,844 --> 01:29:54,180 and just sheer wealth, there's no hope for the little guy anymore. 1771 01:29:54,931 --> 01:29:56,808 Or there was no hope. 1772 01:29:57,559 --> 01:29:59,603 Maybe now, there is. 1773 01:30:01,771 --> 01:30:03,231 And as for me, 1774 01:30:03,940 --> 01:30:05,108 I like the stock. 1775 01:30:06,109 --> 01:30:08,570 He's a gangster for that. 1776 01:30:08,570 --> 01:30:10,280 I don't plan on selling any time soon. 1777 01:30:10,280 --> 01:30:11,990 - Hold it. - Say that shit. 1778 01:30:11,990 --> 01:30:13,033 Diamond fucking hands. 1779 01:30:13,033 --> 01:30:14,034 Diamond hands, baby. 1780 01:30:15,160 --> 01:30:16,703 Attaboy. 1781 01:30:16,703 --> 01:30:18,079 What a nerd. 1782 01:30:18,705 --> 01:30:19,539 Thank you. 1783 01:30:27,297 --> 01:30:29,716 It was good. I think. 1784 01:30:30,884 --> 01:30:33,762 Yesterday's Reddit hearing in Congress brought together 1785 01:30:33,762 --> 01:30:36,139 some of the power players behind the January trading frenzy. 1786 01:30:36,139 --> 01:30:39,392 Representative Maxine Waters did say there will be additional hearings... 1787 01:30:39,392 --> 01:30:42,604 What you got here involves people named DFV and Roaring Kitty, ultimately... 1788 01:30:42,604 --> 01:30:45,649 ...two more to follow to find more answers, one market expert... 1789 01:30:45,649 --> 01:30:47,442 Whether it's markets or social media, 1790 01:30:47,442 --> 01:30:49,235 I'll just call it media because it is now. 1791 01:30:49,235 --> 01:30:51,154 Do you think any new regulation gets done? 1792 01:30:51,154 --> 01:30:53,323 What's clear is that we're in the Wild West 1793 01:30:53,323 --> 01:30:56,493 and that there is so much activity that's going on, on these online forums. 1794 01:30:56,493 --> 01:30:59,788 And we've seen in the last month and the last six weeks how much force 1795 01:30:59,788 --> 01:31:03,416 day traders en masse can bring to the market and actually affect it. 1796 01:31:03,416 --> 01:31:05,460 They used to just make some noise around the edges. 1797 01:31:05,460 --> 01:31:08,254 Now they can actually move markets, move securities. 1798 01:31:39,744 --> 01:31:40,870 Cheers, everyone. 1799 01:31:47,919 --> 01:31:48,837 Ah. 1800 01:31:57,387 --> 01:31:58,930 You're a fucking gangster. 1801 01:32:18,575 --> 01:32:21,077 Hey, man, I notice you've been selling a lot of new games, 1802 01:32:21,077 --> 01:32:24,372 and I just wanted to remind you, again, that we really wanna be pushing customers 1803 01:32:24,372 --> 01:32:26,958 towards the higher-margin pre-owned games. 1804 01:32:28,001 --> 01:32:29,961 Yeah, I'm not gonna do that. 1805 01:32:29,961 --> 01:32:30,879 Excuse me? 1806 01:32:30,879 --> 01:32:33,590 Oh, and in fact, I'm not gonna do any of the Circle of Life bullshit. 1807 01:32:33,590 --> 01:32:35,049 Or your TikTok dance contest. 1808 01:32:35,049 --> 01:32:36,134 You're quitting, then. 1809 01:32:38,094 --> 01:32:39,095 Okay. 1810 01:32:39,095 --> 01:32:40,930 No, I mean, I thought about it, but... 1811 01:32:41,931 --> 01:32:43,725 Like, yo, I love it here. 1812 01:32:43,725 --> 01:32:45,477 So I think I'm gonna stay. 1813 01:32:45,477 --> 01:32:49,022 Well, you're awfully smug for a kid who lost all his money buying stock. 1814 01:32:49,522 --> 01:32:51,941 What did you say it was going to? A thousand? 1815 01:32:53,193 --> 01:32:55,695 I'm also not gonna work at the ass crack of dawn any more. 1816 01:32:56,821 --> 01:32:57,697 You're fired. 1817 01:32:59,616 --> 01:33:00,867 No, I'm not. 1818 01:33:00,867 --> 01:33:03,661 You gotta get that approved by like seven levels of people, yo. 1819 01:33:04,162 --> 01:33:06,706 Thanks to the geniuses who put that together. 1820 01:33:06,706 --> 01:33:08,750 The ones who used to own my ass. 1821 01:33:09,250 --> 01:33:10,251 You sold? 1822 01:33:11,544 --> 01:33:12,378 Half. 1823 01:33:13,713 --> 01:33:15,673 Right at the tippy tippy top. 1824 01:33:15,673 --> 01:33:18,510 And I'm holding the other half for the long haul. 1825 01:33:18,510 --> 01:33:20,345 ♪ 'Cause I'm a savage ♪ 1826 01:33:20,845 --> 01:33:23,431 ♪ Classy, bougie, ratchet ♪ 1827 01:33:23,973 --> 01:33:26,810 ♪ Sassy, moody, nasty ♪ 1828 01:33:26,810 --> 01:33:29,145 ♪ Acting stupid what was happening ♪ 1829 01:33:30,480 --> 01:33:34,150 ♪ Classy, bougie, ratchet ♪ 1830 01:33:34,150 --> 01:33:37,070 ♪ Sassy, moody, nasty ♪ 1831 01:33:37,070 --> 01:33:39,113 ♪ Acting stupid, what's happening? ♪ 1832 01:33:39,113 --> 01:33:40,615 ♪ Bitch, what's happening? ♪ 1833 01:33:40,615 --> 01:33:42,575 ♪ Bitch, I'm a savage, yeah ♪ 1834 01:33:42,575 --> 01:33:45,245 ♪ Classy, bougie, ratchet, yeah ♪ 1835 01:33:45,245 --> 01:33:48,081 ♪ Sassy, moody, nasty ♪ 1836 01:33:48,081 --> 01:33:50,708 ♪ Acting stupid, what's happening? ♪ 1837 01:33:50,708 --> 01:33:52,627 ♪ Bitch, what's happening? ♪ 1838 01:33:52,627 --> 01:33:55,421 ♪ Eat me and record it But your edge-up all I'm showing ♪ 1839 01:33:55,421 --> 01:33:58,299 ♪ I keep my niggas private So his AP all I'm showing ♪ 1840 01:33:58,299 --> 01:34:00,885 ♪ Beefing with you bitches Really getting kinda boring ♪ 1841 01:34:00,885 --> 01:34:03,638 ♪ If it ain't about the money Then you know I'm gon' ignore it ♪ 1842 01:34:03,638 --> 01:34:04,556 ♪ I'm the shit, ooh ♪ 1843 01:34:04,556 --> 01:34:07,725 ♪ I need a mop to clean the floor It's too much drip, ooh ♪ 1844 01:34:07,725 --> 01:34:09,853 ♪ I keep a knot, I keep a watch I keep a whip... ♪ 1845 01:34:09,853 --> 01:34:11,187 Fuck yeah! 1846 01:34:11,729 --> 01:34:14,482 I'm here testifying today far removed from my background. 1847 01:34:14,482 --> 01:34:16,776 I grew up in a middle-class family in Portland, Maine. 1848 01:34:16,776 --> 01:34:18,444 I went to a public high school. 1849 01:34:18,444 --> 01:34:20,864 I studied hard and got into a good college. 1850 01:34:20,864 --> 01:34:23,408 Upon graduation, I did not have a job. 1851 01:34:23,408 --> 01:34:26,494 ♪ Bitch, what's happening? ♪ 1852 01:34:26,494 --> 01:34:32,458 When the statement you refer to was made, uh, I believe 2015 or 2016, 1853 01:34:32,458 --> 01:34:35,545 it was before Robinhood forced the entire industry 1854 01:34:35,545 --> 01:34:38,298 - to drop commissions and replicate our... - I should take that as a no. 1855 01:34:38,298 --> 01:34:41,217 You're not willing to pass on the proceeds of payment for order flow 1856 01:34:41,217 --> 01:34:42,427 to your customers? 1857 01:34:42,427 --> 01:34:44,679 ♪ That body right But you know this pussy fat, ooh ♪ 1858 01:34:44,679 --> 01:34:47,098 ♪ I drop a picture Now these bitches feel attacked ♪ 1859 01:34:47,098 --> 01:34:49,934 ♪ Don't let that nigga gas you up And get you whacked, ooh ♪ 1860 01:34:49,934 --> 01:34:51,936 ♪ I make a call and get a pussy nigga smacked... ♪ 1861 01:34:51,936 --> 01:34:56,816 But did you talk to them about restricting or doing anything to prevent people 1862 01:34:56,816 --> 01:35:00,236 from buying, not selling but buying, in GameStop? 1863 01:35:00,236 --> 01:35:02,363 Let me be perfectly clear. 1864 01:35:03,114 --> 01:35:05,408 Absolutely not. 1865 01:35:30,224 --> 01:35:32,268 As for me, I like the stock. 1866 01:35:32,268 --> 01:35:33,353 ♪ Mwah ♪ 1867 01:35:35,104 --> 01:35:36,564 Hurry up, dick, it's cold. 1868 01:35:37,440 --> 01:35:39,025 I can't believe you're my brother. 1869 01:35:39,025 --> 01:35:40,568 You look like a fucking Ninja Turtle. 1870 01:35:40,568 --> 01:35:42,236 - Ready? - Yup. 1871 01:35:43,071 --> 01:35:44,489 - Set... What? - Fuck you! 1872 01:35:44,489 --> 01:35:45,406 Kevin! 1873 01:35:47,700 --> 01:35:48,743 C'mon, Kitty! 1874 01:35:59,337 --> 01:36:01,464 ♪ I'm gonna fight 'em off ♪ 1875 01:36:02,799 --> 01:36:06,636 ♪ A seven nation army Couldn't hold me back ♪ 1876 01:36:07,178 --> 01:36:09,180 ♪ They're gonna rip it off ♪ 1877 01:36:10,723 --> 01:36:14,435 ♪ Takin' their time right behind my back ♪ 1878 01:36:14,435 --> 01:36:20,233 ♪ And the message comin' from my eyes Says, "Leave it alone" ♪ 1879 01:36:54,434 --> 01:36:56,644 ♪ Don't want to hear about it ♪ 1880 01:36:58,271 --> 01:37:01,733 ♪ Every single one's got a story to tell ♪ 1881 01:37:02,400 --> 01:37:04,360 ♪ Everyone knows about it ♪ 1882 01:37:05,945 --> 01:37:09,449 ♪ From the Queen of England To the Hounds of Hell ♪ 1883 01:37:10,116 --> 01:37:15,204 ♪ And if I catch it comin' back my way I'm gonna serve it to you ♪ 1884 01:37:18,249 --> 01:37:22,962 ♪ And that ain't what you want to hear But that's what I'll do ♪ 1885 01:37:25,798 --> 01:37:31,137 ♪ And the feelin' comin' from my bones Says, "Find a home" ♪ 1886 01:38:21,145 --> 01:38:23,147 ♪ I'm goin' to Wichita ♪ 1887 01:38:24,774 --> 01:38:28,152 ♪ Far from this opera forevermore ♪ 1888 01:38:28,903 --> 01:38:30,947 ♪ I'm gonna work the straw ♪ 1889 01:38:32,448 --> 01:38:36,119 ♪ Make the sweat drip out of every pore ♪ 1890 01:38:36,869 --> 01:38:42,041 ♪ And I'm bleedin' and I'm bleedin' And I'm bleedin' right before the Lord ♪ 1891 01:38:44,710 --> 01:38:49,757 ♪ All the words are gonna bleed from me And I will think no more ♪ 1892 01:38:52,468 --> 01:38:57,431 ♪ And the stains comin' from my blood Tell me, "Go back home" ♪ 1893 01:39:19,829 --> 01:39:22,456 ♪ You make me wanna You make me wanna ♪ 1894 01:39:23,499 --> 01:39:24,709 ♪ You make me wanna ♪ 1895 01:39:27,336 --> 01:39:30,131 ♪ You make me wanna You make me wanna ♪ 1896 01:39:30,965 --> 01:39:32,425 ♪ You make me wanna ♪ 1897 01:39:34,969 --> 01:39:37,889 ♪ You make me wanna You make me wanna ♪ 1898 01:39:38,556 --> 01:39:40,057 ♪ You make me wanna ♪ 1899 01:39:56,199 --> 01:39:57,408 ♪ You make me wanna ♪ 1900 01:40:03,164 --> 01:40:04,624 ♪ You make me wanna ♪ 1901 01:40:05,666 --> 01:40:08,586 ♪ You make me wanna You make me wanna ♪ 1902 01:40:09,253 --> 01:40:10,713 ♪ You make me wanna ♪ 1903 01:40:13,049 --> 01:40:16,469 ♪ You make me wanna You make me wanna ♪ 1904 01:40:17,261 --> 01:40:18,512 ♪ You make me wanna ♪ 1905 01:40:36,530 --> 01:40:39,450 ♪ You make me wanna You make me wanna ♪ 1906 01:40:40,409 --> 01:40:41,494 ♪ You make me wanna ♪ 1907 01:40:44,038 --> 01:40:47,208 ♪ You make me wanna You make me wanna ♪ 1908 01:40:47,833 --> 01:40:49,126 ♪ You make me wanna ♪ 1909 01:40:51,045 --> 01:40:54,799 ♪ You make me wanna You make me wanna ♪ 1910 01:40:55,633 --> 01:40:57,009 ♪ You make me wanna ♪ 1911 01:41:10,523 --> 01:41:12,149 ♪ You make me wanna ♪ 1912 01:41:18,489 --> 01:41:19,615 ♪ You make me wanna ♪ 1913 01:41:20,700 --> 01:41:23,661 ♪ You make me wanna You make me wanna ♪ 1914 01:41:24,453 --> 01:41:25,705 ♪ You make me wanna ♪ 1915 01:41:27,873 --> 01:41:31,335 ♪ You make me wanna You make me wanna ♪ 1916 01:41:32,169 --> 01:41:33,296 ♪ You make me wanna ♪ 146617

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