Would you like to inspect the original subtitles? These are the user uploaded subtitles that are being translated:
1
00:01:11,280 --> 00:01:13,532
So, I'm here.
2
00:01:13,615 --> 00:01:17,870
-And, I do not see anything happening.
-Right.
3
00:01:17,953 --> 00:01:19,746
-Right.
-At all.
4
00:01:19,830 --> 00:01:20,789
Look, I'm very sorry, sir.
5
00:01:20,873 --> 00:01:23,709
Guess what I'm trying to understand is,
what is the reason for this delay exactly?
6
00:01:23,792 --> 00:01:24,793
Yeah. Mr. Plotkin,
7
00:01:24,877 --> 00:01:26,295
-Specifically.
-I'm so sorry.
8
00:01:26,378 --> 00:01:29,715
-But it's just that when we set out...
-Yeah, we closed in November.
9
00:01:29,798 --> 00:01:31,133
We had all the permit applications in
10
00:01:31,216 --> 00:01:32,634
-before the end of the year.
-Right. Once we get...
11
00:01:32,718 --> 00:01:33,802
...the final stamp of approval.
12
00:01:33,886 --> 00:01:35,345
And we can't get the trucks here
a little early?
13
00:01:35,429 --> 00:01:37,222
-Just, you know, get 'em started.
-Miami Beach ordinances...
14
00:01:37,306 --> 00:01:38,640
-won't let me do that.
-Is anyone actually...
15
00:01:38,724 --> 00:01:40,726
-...enforcing those regulations?
-Look, Mr. Plotkin,
16
00:01:40,809 --> 00:01:42,352
I know that you're eager to move in.
Okay.
17
00:01:42,436 --> 00:01:44,062
-Once we get the final stamp of approval.
-No.
18
00:01:44,146 --> 00:01:45,522
-You're gonna be the first...
-One second.
19
00:01:45,606 --> 00:01:46,648
Sure.
20
00:01:47,149 --> 00:01:48,233
Hello?
21
00:01:51,111 --> 00:01:53,071
You see what's going on at GME?
22
00:01:53,155 --> 00:01:54,698
There's more of these idiots?
23
00:01:54,781 --> 00:01:57,659
...the short sellers, now they're getting
creamed by the little guy.
24
00:01:57,743 --> 00:01:58,827
A lot more.
25
00:01:58,911 --> 00:02:00,370
They won't hold much longer.
26
00:02:00,454 --> 00:02:01,496
Go away.
27
00:02:02,372 --> 00:02:04,833
Oh Gabe, honey, they're holding.
28
00:02:05,626 --> 00:02:07,794
It just crossed a hundred.
29
00:02:07,878 --> 00:02:10,130
Gabe, where are you?
30
00:02:10,214 --> 00:02:11,298
Fuck!
31
00:02:11,381 --> 00:02:13,091
You should probably dial in.
32
00:02:13,175 --> 00:02:14,384
Yeah, be on in one sec.
33
00:02:31,527 --> 00:02:32,986
I will tell you I've never seen
anything like it.
34
00:02:33,070 --> 00:02:34,530
I'm concerned about it.
35
00:02:34,613 --> 00:02:36,490
I'm calling it the ultimate short squeeze.
36
00:02:36,573 --> 00:02:38,784
You can lose money to infinity.
37
00:02:38,867 --> 00:02:42,329
It's very different, more highly leveraged
game on the other side.
38
00:02:43,705 --> 00:02:44,915
Holy fucking shit.
39
00:02:46,041 --> 00:02:48,836
Right now we're gonna talk about GameStop.
Those shares...
40
00:02:48,919 --> 00:02:52,047
-are nonstop earning of about 130% today.
-Holy fucking shit!
41
00:02:52,130 --> 00:02:53,757
-Holy shit!
-What the...
42
00:02:53,841 --> 00:02:55,008
...fuck!
43
00:02:59,555 --> 00:03:00,681
Holy shit.
44
00:03:00,764 --> 00:03:02,516
-Yes. Hello?
-Great news, Mr. Plotkin.
45
00:03:02,599 --> 00:03:05,227
I think we'll be able to get you
into your new home a little sooner
46
00:03:05,310 --> 00:03:07,145
-than I actually thought.
-I think we're having some sort of
47
00:03:07,229 --> 00:03:09,648
miscommunication here. Because I'm not
trying to move into that house.
48
00:03:09,731 --> 00:03:12,401
I'm trying to tear that house down
so I can build a tennis court
49
00:03:12,484 --> 00:03:14,403
for me and my family to play
during the pandemic.
50
00:03:14,486 --> 00:03:15,904
-I see.
-I thought it would be very simple.
51
00:03:15,988 --> 00:03:17,865
Apparently, it isn't because
the pandemic is almost over
52
00:03:17,948 --> 00:03:19,491
-and there's no tennis court.
-Okay, Mr. Plotkin.
53
00:03:19,575 --> 00:03:20,909
Thank you for your time.
54
00:03:20,993 --> 00:03:22,661
Yes, what? Hello?
55
00:03:22,744 --> 00:03:25,497
Hi, it's Ken Griffin.
56
00:03:31,044 --> 00:03:33,380
Hi there, Ken, how are you?
Great to hear from you.
57
00:03:34,548 --> 00:03:35,591
Do you have a minute?
58
00:03:37,676 --> 00:03:38,760
I...
59
00:03:40,345 --> 00:03:42,848
I gotta call you right back.
If that's okay. I'm so sorry.
60
00:03:44,057 --> 00:03:45,392
-Sure.
-Okay, great.
61
00:03:46,935 --> 00:03:48,478
Hi. What's happening right now?
62
00:03:48,562 --> 00:03:51,023
It looks like there's one guy driving
all the buying.
63
00:03:51,106 --> 00:03:52,357
What... what... what guy?
64
00:03:53,525 --> 00:03:56,570
I believe his name is "Roaring Kitty."
65
00:03:59,865 --> 00:04:01,116
Oh, wait, or...
66
00:04:02,993 --> 00:04:04,828
"Deep Fucking Value."
67
00:04:04,912 --> 00:04:07,456
"Roaring Kitty" or "Deep Fucking Value."
What?
68
00:04:08,415 --> 00:04:11,543
He's "Roaring Kitty" on YouTube
and "Deep Fucking Value" on Reddit.
69
00:04:11,627 --> 00:04:14,087
Both? He couldn't pick one name?
70
00:04:14,171 --> 00:04:15,839
I don't know. I love this guy.
71
00:04:22,971 --> 00:04:24,389
Who is this schmuck?
72
00:04:24,473 --> 00:04:26,266
I don't know, but I think I just came.
73
00:05:32,040 --> 00:05:34,251
-Ruby... Ruby, right?
-Yeah.
74
00:05:34,334 --> 00:05:35,794
-Can I get a couple of Heinies, please?
-One.
75
00:05:35,878 --> 00:05:37,629
Sorry...
76
00:05:37,713 --> 00:05:39,965
-I'm gonna have a...
-What? What's wrong with a Heinie?
77
00:05:40,048 --> 00:05:41,466
Drinking it since we were 17!
78
00:05:41,550 --> 00:05:43,552
Hey, drink what you like. No judgment.
79
00:05:44,136 --> 00:05:45,220
You have a Hamm's?
80
00:05:45,304 --> 00:05:47,806
-I'll have one of those.
-The fuck did you just order?
81
00:05:47,890 --> 00:05:50,684
Oh, it's a nice one outta Milwaukee.
Good quality.
82
00:05:50,767 --> 00:05:53,604
-Fifty cents a can before markup.
-C'mon, Kitty. Forget about price.
83
00:05:53,687 --> 00:05:54,855
Get him a Heineken, thank you.
84
00:05:54,938 --> 00:05:56,315
-It's on me.
-Thanks, man.
85
00:05:56,398 --> 00:05:59,026
Thank you, that's nice.
I'll have a Hamm's.
86
00:05:59,109 --> 00:06:00,652
So a Heineken and a Hamm's?
87
00:06:00,736 --> 00:06:01,778
Thank you.
88
00:06:01,862 --> 00:06:02,988
Please.
89
00:06:03,071 --> 00:06:04,323
Thank you, Ruby.
90
00:06:09,953 --> 00:06:10,954
How you been, man?
91
00:06:11,038 --> 00:06:13,081
The whole Sara thing.
92
00:06:13,165 --> 00:06:16,293
Oh, yeah. Okay...
93
00:06:16,376 --> 00:06:17,711
Up and down.
94
00:06:18,337 --> 00:06:19,463
Yeah.
95
00:06:21,173 --> 00:06:22,758
-How's your asshole brother?
-Still an asshole.
96
00:06:22,841 --> 00:06:24,551
-Okay.
-Yeah.
97
00:06:25,135 --> 00:06:26,762
Keeping busy at least?
98
00:06:26,845 --> 00:06:30,057
Got the day job at MassMutual.
Working on my portfolio.
99
00:06:30,140 --> 00:06:32,059
That's the last thing you should be
worrying about right now.
100
00:06:32,768 --> 00:06:34,770
Why? It's a... It's a good distraction.
101
00:06:34,853 --> 00:06:36,146
Lemme take that over for you.
102
00:06:36,230 --> 00:06:37,689
We got thousands of analysts at B of A
103
00:06:37,773 --> 00:06:40,150
-that do just this. C'mon, Kitty.
-All good, man. Thank you.
104
00:06:40,234 --> 00:06:41,693
You should be focused on your family
right now.
105
00:06:41,777 --> 00:06:43,195
Not fucking around with penny stocks.
106
00:06:43,278 --> 00:06:45,906
They're not all penny stocks.
GameStop isn't a penny stock.
107
00:06:45,989 --> 00:06:47,407
GameStop?
108
00:06:47,491 --> 00:06:48,867
-Dude...
-You used to love GameStop!
109
00:06:48,951 --> 00:06:52,037
-Yeah, then I grew up.
-Well, I think it's undervalued.
110
00:06:52,621 --> 00:06:54,623
I just sold off a bunch of other shit
to double down.
111
00:06:54,706 --> 00:06:56,583
How much are we talking? A grand?
112
00:06:56,667 --> 00:06:57,709
-Fifty.
-Bucks?
113
00:06:57,793 --> 00:06:58,836
Grand.
114
00:06:58,919 --> 00:06:59,962
53 grand.
115
00:07:00,671 --> 00:07:01,922
Yeah.
116
00:07:06,552 --> 00:07:07,469
Kitty...
117
00:07:09,346 --> 00:07:11,557
-Man, you don't even own a house.
-It's got a ton of short interest,
118
00:07:11,640 --> 00:07:13,392
-You got a one-year-old.
-which is artificially pushing...
119
00:07:13,475 --> 00:07:14,810
-Jesus, bro.
-the price down.
120
00:07:14,893 --> 00:07:17,271
-You never bet against Wall Street!
-Wall Street gets it wrong all the time.
121
00:07:17,354 --> 00:07:18,814
-Look at '08.
-That was a one-off, Kitty.
122
00:07:18,897 --> 00:07:20,274
These guys, they have all the money
123
00:07:20,357 --> 00:07:22,401
and the fancy degrees
and the political juice in the world,
124
00:07:22,484 --> 00:07:24,611
-and they get it wrong all the time.
-Are you out of your fucking mind?
125
00:07:24,695 --> 00:07:27,406
They've got the advantage,
and they still get it wrong.
126
00:07:29,032 --> 00:07:31,577
No, gimme that, I'm drinking it.
Even if it's 50 cents.
127
00:07:31,660 --> 00:07:32,661
It's 4 bucks.
128
00:07:32,744 --> 00:07:34,746
Well, my man just spent 53K
on a penny stock.
129
00:07:34,830 --> 00:07:36,623
So, all he can afford is water.
130
00:07:36,707 --> 00:07:39,126
-You're a Wall Street guy?
-Very much no.
131
00:07:39,209 --> 00:07:40,669
I'm a Wall Street guy.
132
00:07:40,752 --> 00:07:42,171
What was the stock?
133
00:07:43,422 --> 00:07:44,506
GameStop.
134
00:07:45,883 --> 00:07:47,176
The video game store. At the mall.
135
00:07:47,259 --> 00:07:50,804
-You really bought $53,000 of it?
-Yeah, I don't believe it.
136
00:07:50,888 --> 00:07:52,973
I think he's fucking with us.
You're fucking with us, right?
137
00:07:53,056 --> 00:07:54,683
You don't even have 50 grand.
138
00:07:54,766 --> 00:07:55,851
Let's see.
139
00:07:58,270 --> 00:07:59,396
Oh, shit.
140
00:08:01,481 --> 00:08:03,400
How is she falling for this?
How are you falling for this?
141
00:08:03,483 --> 00:08:05,777
He won't spend 5 bucks for a beer,
142
00:08:05,861 --> 00:08:09,198
but he'll put 50k in a stock
that you think is a joke.
143
00:08:09,281 --> 00:08:10,782
And that's interesting to you?
144
00:08:11,658 --> 00:08:12,743
Yeah.
145
00:08:13,952 --> 00:08:15,078
It is.
146
00:08:21,043 --> 00:08:22,628
Drink your shitty beer.
147
00:08:32,095 --> 00:08:33,054
Hey!
148
00:08:33,138 --> 00:08:34,640
Hey!
149
00:08:36,600 --> 00:08:38,143
Bedtime's already done?
150
00:08:38,227 --> 00:08:41,522
Yeah, she was exhausted.
She skipped her nap.
151
00:08:43,315 --> 00:08:44,858
How was Briggsy?
152
00:08:44,942 --> 00:08:46,318
Good. Yeah.
153
00:08:54,618 --> 00:08:56,370
You guys talk about Sara?
154
00:09:02,793 --> 00:09:04,461
You wanna sit down a minute?
155
00:09:04,545 --> 00:09:06,630
I'll feel better if I finish these first.
156
00:09:07,673 --> 00:09:09,842
No, you won't.
157
00:09:35,242 --> 00:09:36,243
Do you think I'm insane?
158
00:09:36,326 --> 00:09:37,578
Yeah.
159
00:09:38,871 --> 00:09:40,497
Sorry. About what?
160
00:09:41,665 --> 00:09:42,791
GameStop.
161
00:09:42,875 --> 00:09:45,544
The most compelling
asymmetric opportunity in the market?
162
00:09:47,671 --> 00:09:49,965
-What, did Briggsy make you jumpy?
-A little.
163
00:09:50,048 --> 00:09:52,092
-What was his argument?
-He didn't have one.
164
00:09:52,176 --> 00:09:54,678
-Well.
-He just said it was a reckless bet.
165
00:09:54,761 --> 00:09:56,263
He said "you're putting your money
in the next
166
00:09:56,346 --> 00:09:57,973
-Blockbuster."
-Enough. Fuck Briggsy.
167
00:09:58,056 --> 00:10:01,351
Babe, you literally know more about
this damn company than you know about me.
168
00:10:01,810 --> 00:10:02,936
It's true.
169
00:10:03,020 --> 00:10:05,731
And because of you, I know more about
this company than I know about myself.
170
00:10:05,814 --> 00:10:09,526
But what if I'm missing something?
We can't afford to miss something.
171
00:10:10,861 --> 00:10:12,613
It's all our savings.
172
00:10:13,322 --> 00:10:14,489
Go do a video.
173
00:10:15,782 --> 00:10:17,618
I can finish these first. I'm happy to...
174
00:10:17,701 --> 00:10:19,745
Go see what the nerds have to say.
175
00:10:19,828 --> 00:10:22,414
Our Wall Street Bets people
aren't nerds, Caroline.
176
00:10:22,497 --> 00:10:24,917
They're gangsters.
You make a dumb case and post it,
177
00:10:25,000 --> 00:10:27,336
-they'll rip you apart.
-Well, then don't make a dumb case.
178
00:10:46,480 --> 00:10:47,981
Okay, let's see what's new.
179
00:10:50,943 --> 00:10:52,986
Oh, there's a share. Okay, here we go.
180
00:10:55,906 --> 00:10:57,199
Oh shit.
181
00:11:20,556 --> 00:11:22,015
Alright...
182
00:11:22,808 --> 00:11:25,394
Just check on... See here.
183
00:11:35,696 --> 00:11:38,448
Yo, what up, everybody?
Roaring Kitty here.
184
00:11:38,532 --> 00:11:41,827
I've done a few of these now,
mostly on my investing methodology.
185
00:11:41,910 --> 00:11:44,413
But today I'm gonna try something
a little different.
186
00:11:44,496 --> 00:11:47,833
I appreciate the feedback
you guys have been leaving me by the way.
187
00:11:48,667 --> 00:11:51,503
Oh! More feedback comin' in hot.
188
00:11:51,587 --> 00:11:55,299
"Less cats." Okay. Great.
189
00:11:55,382 --> 00:11:59,887
Ah, like I was saying, what was I saying?
Ah, I'm gonna try...
190
00:11:59,970 --> 00:12:02,097
Oh, and here's one from Ballz.
191
00:12:02,181 --> 00:12:03,599
"Nerd."
192
00:12:03,682 --> 00:12:05,601
And nerd is in all capitals.
193
00:12:05,684 --> 00:12:09,605
Like, okay, that's kinda mean.
But okay, fair.
194
00:12:10,814 --> 00:12:12,733
"Nice shirt, Grandpa"?
195
00:12:12,816 --> 00:12:16,028
What? How old do you think I am?
196
00:12:16,111 --> 00:12:16,987
You know what?
197
00:12:17,070 --> 00:12:20,157
Thanks for the comments.
We're gonna come back to them at the end.
198
00:12:20,240 --> 00:12:21,366
Here's what I wanna talk about.
199
00:12:22,576 --> 00:12:25,537
I'm gonna pick a stock and talk about
why I think it's interesting.
200
00:12:25,621 --> 00:12:27,456
And that stock is...
201
00:12:28,916 --> 00:12:30,125
GameStop.
202
00:12:31,710 --> 00:12:33,629
I know it's a polarizing stock and...
203
00:12:33,712 --> 00:12:35,923
some of you probably gonna tune out
of the stream right now when you hear
204
00:12:36,006 --> 00:12:38,133
I'm bullish on GameStop. But I am.
205
00:12:38,217 --> 00:12:42,179
You can see it is now the biggest position
by far in the Roaring Kitty portfolio.
206
00:12:42,262 --> 00:12:43,096
So...
207
00:12:43,180 --> 00:12:46,141
yeah, I think everyone else is crazy,
and I think I'm right.
208
00:12:46,225 --> 00:12:49,937
But I've been wrong plenty of times
in the past. So...
209
00:12:50,771 --> 00:12:54,233
So there are a lot of aspects to this
bold thesis, a lot of moving parts,
210
00:12:54,316 --> 00:12:56,735
but I boil it down
to what I consider the three overs:
211
00:12:56,818 --> 00:12:59,154
The digital risks seem to me
to be overblown,
212
00:12:59,238 --> 00:13:02,241
the negative sentiment is overdone, you
can see it with the huge short interest,
213
00:13:02,324 --> 00:13:04,201
and the value is overlooked.
214
00:13:04,284 --> 00:13:06,370
Wall Street just doesn't see it.
215
00:13:06,995 --> 00:13:08,163
Why?
216
00:13:08,247 --> 00:13:11,416
Mr. Market, why?
217
00:13:12,167 --> 00:13:14,878
The hedge funds are overlooking
the value in the company
218
00:13:14,962 --> 00:13:17,631
just like they overlook
the people who shop there.
219
00:13:17,714 --> 00:13:20,342
They assume most people download
games online now.
220
00:13:20,425 --> 00:13:24,680
But look, 25% of gamers
still buy new discs from GameStop,
221
00:13:24,763 --> 00:13:27,599
and 40% buy used games from the store.
222
00:13:27,683 --> 00:13:29,726
And the market's kinda forced
my hand here.
223
00:13:29,810 --> 00:13:32,646
What more can I say?
I just like the stock.
224
00:13:32,729 --> 00:13:33,730
Hey!
225
00:13:34,439 --> 00:13:35,858
Shit!
226
00:13:36,900 --> 00:13:38,569
-Did I wake you?
-Please stop.
227
00:13:38,652 --> 00:13:41,488
Mr. Donaldson, I need you in your bed.
228
00:13:41,572 --> 00:13:42,990
Kerin, can you please
229
00:13:43,073 --> 00:13:44,741
-make sure Mr. Donaldson...
-I don't need to go to bed.
230
00:13:44,825 --> 00:13:47,244
-I need a cup of coffee.
-We can get you a cup of coffee.
231
00:13:47,327 --> 00:13:48,787
Kerin, coffee.
232
00:13:48,871 --> 00:13:49,913
Oh!
233
00:13:50,581 --> 00:13:51,748
Well, isn't that beautiful?
234
00:13:52,332 --> 00:13:53,458
Oh shit.
235
00:13:54,877 --> 00:13:59,673
"100% short GameStop stock (GME)"?
236
00:13:59,756 --> 00:14:01,008
It's an investment video.
237
00:14:01,091 --> 00:14:03,635
Hey, Jenny, for real,
238
00:14:03,719 --> 00:14:06,471
I wouldn't take investment advice
from a guy in a cat shirt.
239
00:14:06,555 --> 00:14:09,099
Oh, okay.
Who do you take investment advice from?
240
00:14:09,183 --> 00:14:15,772
I don't have investments. And if I did,
I'd listen to, like, a banker.
241
00:14:15,856 --> 00:14:17,274
Just the way they like it.
242
00:14:17,357 --> 00:14:21,236
"They." Oh boy. Here we go...
243
00:14:21,320 --> 00:14:22,446
Just never mind.
244
00:14:22,529 --> 00:14:23,864
No, no, no, please tell me.
245
00:14:23,947 --> 00:14:27,075
I'm dying to know what Luke Wilson
from The Royal Tenenbaums
246
00:14:27,159 --> 00:14:29,703
thinks we should do
with our $68,000 a year.
247
00:14:29,786 --> 00:14:30,829
Who from what?
248
00:14:30,913 --> 00:14:31,914
Ugly Bjƶrn Borg.
249
00:14:31,997 --> 00:14:33,081
Okay, fine.
250
00:14:33,165 --> 00:14:36,001
Wall Street is betting
that this company is gonna fail.
251
00:14:36,084 --> 00:14:37,586
It's called shorting.
252
00:14:37,669 --> 00:14:41,173
And if it fails, well, then
everybody loses their job,
253
00:14:41,256 --> 00:14:43,842
but these hedge fund assholes make
a shit ton of money.
254
00:14:44,301 --> 00:14:48,180
It's bullshit. It's a bullshit way
for rich people to get richer.
255
00:14:48,263 --> 00:14:49,848
How did you even find this guy?
256
00:14:49,932 --> 00:14:52,476
70,000 people have watched this video.
257
00:14:52,559 --> 00:14:54,895
He posts his balance sheets
and everything.
258
00:14:54,978 --> 00:14:56,730
Wall Street Bets is going crazy over this.
259
00:14:56,813 --> 00:14:58,857
-Who?
-It's an Internet forum.
260
00:15:00,734 --> 00:15:01,985
-On Reddit.
-Now, see. No, no.
261
00:15:02,069 --> 00:15:04,363
I'm not gonna do this with you.
The last time you brought up Reddit,
262
00:15:04,446 --> 00:15:07,115
it was just all these oil paintings of
Donald Trump on horseback.
263
00:15:07,199 --> 00:15:08,909
-You liked it.
-Detestable.
264
00:15:08,992 --> 00:15:11,578
-Look.
-Okay, yeah. Let's take a look.
265
00:15:13,247 --> 00:15:15,624
"Shit's not a pump-and-dump
266
00:15:15,707 --> 00:15:19,002
if it never dumps, you fuckheads..."
267
00:15:19,086 --> 00:15:23,131
"Feed me your tears, I use it
as anal lube on your wives."
268
00:15:23,215 --> 00:15:24,258
Why did you go to that one?
269
00:15:24,341 --> 00:15:27,803
Oh! Oh! Oh! "Strap on ur theta dildo
270
00:15:27,886 --> 00:15:31,932
-n start pounding."
-Okay. Yes, that shit exists on here.
271
00:15:32,015 --> 00:15:35,727
But I also learned the difference between
a delta squeeze and a gamma squeeze.
272
00:15:35,811 --> 00:15:37,729
And now everyone is talking about
call options.
273
00:15:37,813 --> 00:15:39,314
Jenny, baby,
274
00:15:39,898 --> 00:15:41,275
you're never gonna find a man on there.
275
00:15:42,776 --> 00:15:44,945
And you're never gonna date Puff Daddy.
276
00:15:45,028 --> 00:15:47,364
First of all, no one has said Puff Daddy
since the '90s
277
00:15:47,447 --> 00:15:49,741
and second of all, this isn't Puff Daddy.
278
00:15:50,534 --> 00:15:51,702
This is Loop Daddy.
279
00:15:52,619 --> 00:15:56,498
Okay, well, whatever Daddy he's called,
he's weird looking.
280
00:15:56,582 --> 00:15:59,251
Hey, well, my guy has, what,
5 million TikTok followers.
281
00:15:59,334 --> 00:16:01,003
-How many does yours have?
-I don't know.
282
00:16:01,086 --> 00:16:03,755
Quick scroll. 412.
283
00:16:03,839 --> 00:16:06,091
-Who cares?
-The Internet at large.
284
00:16:06,175 --> 00:16:08,135
But hey. Least I aim high.
285
00:16:09,178 --> 00:16:10,304
I aim high.
286
00:16:46,423 --> 00:16:48,926
What up, everybody? Roaring Kitty here.
287
00:16:49,009 --> 00:16:53,889
Yo! Yo! Yo! This price action,
gettin' kind of ridiculous, am I right?
288
00:16:53,972 --> 00:16:56,183
Let's see what happens.
See what happens at the end of the week.
289
00:16:56,266 --> 00:16:58,519
But it's all about the trend
staying intact.
290
00:16:58,602 --> 00:17:00,479
But this, this looks sick.
291
00:17:03,982 --> 00:17:05,108
Morning, Marcos!
292
00:17:05,608 --> 00:17:08,569
Shit... Yo, what's... Hey, Brad.
293
00:17:15,786 --> 00:17:19,623
Yo, I was wondering if could I get
an advance on my pay?
294
00:17:20,249 --> 00:17:24,211
I can run it up the chain, but
with all the cutbacks, that's unlikely.
295
00:17:25,295 --> 00:17:27,422
Oh, hey! You could do
the employee TikTok contest.
296
00:17:27,506 --> 00:17:29,883
You do a lip sync,
you can win 10 labor hours.
297
00:17:29,967 --> 00:17:31,593
Yeah, man, totally.
298
00:17:32,302 --> 00:17:35,264
That's dope. I was thinkin' "Savage."
299
00:17:36,640 --> 00:17:38,600
Yeah, sure, I love it.
300
00:17:38,684 --> 00:17:41,061
Or yo, that Drake one with Lil Durk.
301
00:17:42,688 --> 00:17:43,897
That's a great one too.
302
00:17:43,981 --> 00:17:45,691
Because I know you love Lil Durk.
303
00:17:46,233 --> 00:17:47,192
C'mon.
304
00:17:47,276 --> 00:17:49,778
No, I'm gonna do Megan Thee Stallion.
For sure, for sure, for sure.
305
00:17:49,862 --> 00:17:50,821
I'm a savage
306
00:17:51,530 --> 00:17:53,824
Classy, bougie, ratchet
307
00:17:53,907 --> 00:17:56,535
Sassy, moody, nasty
308
00:17:56,618 --> 00:17:58,662
Okay, mask! Mask.
309
00:17:59,788 --> 00:18:01,081
Sorry.
310
00:18:01,164 --> 00:18:03,625
Acting stupid, what was happening?
311
00:18:04,168 --> 00:18:06,170
What's happening? I'm a savage
312
00:18:06,253 --> 00:18:09,381
Huh, A+ man. You're a shoo-in
with moves like that.
313
00:18:09,464 --> 00:18:11,300
Yo, you think so for real, though?
314
00:18:12,342 --> 00:18:14,052
That's sweet, real.
315
00:18:14,845 --> 00:18:16,180
Ten labor hours.
316
00:18:16,972 --> 00:18:18,348
Damn, it's like Christmas came early!
317
00:18:20,017 --> 00:18:21,518
I'm pullin' for ya!
318
00:18:21,602 --> 00:18:22,895
Thanks, man.
319
00:18:38,577 --> 00:18:40,829
...only fit fake booties
320
00:18:40,913 --> 00:18:41,955
Fuck cash shit
321
00:18:45,125 --> 00:18:46,460
Fries.
322
00:18:55,010 --> 00:18:56,803
No, fuck!
323
00:18:57,971 --> 00:18:58,889
God!
324
00:18:58,972 --> 00:19:01,058
Goddamn it! Fuck!
325
00:19:01,141 --> 00:19:04,019
But first, cheers! Cheers, everybody.
326
00:19:04,102 --> 00:19:07,189
I mean, look. I know we still got
a lot of bear takes out there.
327
00:19:07,272 --> 00:19:08,857
But as I dive deeper and deeper
into this thing,
328
00:19:08,941 --> 00:19:10,943
it's looking increasingly
compelling to me.
329
00:19:11,026 --> 00:19:14,154
And then you got the huge short interest.
Now, I'm not betting on a short squeeze.
330
00:19:14,238 --> 00:19:16,490
I've been saying that the whole time.
You guys have been talking about it.
331
00:19:16,573 --> 00:19:18,075
Thesis is grounded in fundamentals,
but I'm not...
332
00:19:18,158 --> 00:19:19,701
But to... I mean, today, I mean, I'm...
333
00:19:19,785 --> 00:19:21,411
I mean, it's starting to feel
a little squeezy, right?
334
00:19:21,495 --> 00:19:22,913
Starting to feel a little squeezy. Honk!
335
00:19:22,996 --> 00:19:24,456
I mean, hello. Okay!
336
00:19:24,540 --> 00:19:26,667
All right, all right. I need a drink.
I need a drink.
337
00:19:29,086 --> 00:19:32,506
Now. A lot of you are accusing me
of talking a big game.
338
00:19:32,589 --> 00:19:33,674
-Keith?
-But--
339
00:19:33,757 --> 00:19:36,718
-Babe, where are you?
-Oh... Coming!
340
00:19:37,553 --> 00:19:40,138
Duh... I'm on Daddy duty tonight.
I'll be right back.
341
00:20:09,168 --> 00:20:11,670
Okay. There you go.
342
00:20:14,298 --> 00:20:15,382
Sorry.
343
00:20:15,465 --> 00:20:16,925
Quick tendie break.
344
00:20:18,427 --> 00:20:19,678
Gotta love those tendies.
345
00:20:19,761 --> 00:20:21,054
Sweet, sweet tendies.
346
00:20:22,014 --> 00:20:23,599
Speaking of tendies.
347
00:20:24,641 --> 00:20:27,436
Look at this. Look at this chart.
348
00:20:28,687 --> 00:20:32,399
We go from four, to six, to seven. Now...
349
00:20:32,941 --> 00:20:33,901
ten.
350
00:20:34,484 --> 00:20:37,154
Wall Street must be seeing this, right?
351
00:20:37,237 --> 00:20:39,656
Or are we just screaming into the void?
352
00:20:39,740 --> 00:20:43,118
Hello, Mr. Market. We got tendies too.
353
00:20:43,202 --> 00:20:45,537
We got tendies too.
354
00:20:47,331 --> 00:20:48,290
Maybe we are.
355
00:20:48,373 --> 00:20:53,712
They never saw the, like, 9 billion
resumes I sent from 2016 to 2019.
356
00:20:53,795 --> 00:20:56,215
Or in 2009,
right after I graduated college.
357
00:20:56,298 --> 00:20:59,801
I guess they were busy
with that whole "market crash" thing then.
358
00:21:05,641 --> 00:21:06,475
Fuck!
359
00:21:15,526 --> 00:21:16,818
Kevin, you son of a bitch!
360
00:21:16,902 --> 00:21:18,779
You can't run with a baby.
You can't run with a baby!
361
00:21:18,862 --> 00:21:21,865
-Don't take my car, man!
-I fucked up your seat!
362
00:21:21,949 --> 00:21:23,492
There's no gas left.
363
00:21:25,619 --> 00:21:27,120
I know.
364
00:21:36,880 --> 00:21:38,674
How did that taste?
365
00:21:40,968 --> 00:21:43,011
Hey-oh, can I put my pants back on?
366
00:21:43,095 --> 00:21:44,096
No!
367
00:21:44,179 --> 00:21:49,518
"Choose a player and put your hand
down their panties for a whole minute."
368
00:21:49,601 --> 00:21:51,061
Panties, who's got panties?
369
00:21:51,144 --> 00:21:53,313
"Two shots if they refuse."
370
00:21:53,397 --> 00:21:54,982
I mean, I got some panties.
371
00:21:56,692 --> 00:21:57,860
Bro.
372
00:22:00,863 --> 00:22:02,239
-Hello.
-All right.
373
00:22:04,157 --> 00:22:05,951
-All right.
-Hey, girl.
374
00:22:06,034 --> 00:22:07,452
You said two shots, right?
375
00:22:07,536 --> 00:22:08,871
Oh, c'mon.
376
00:22:10,789 --> 00:22:12,249
Fuck, all good.
377
00:22:12,332 --> 00:22:14,668
-Can someone start the timer?
-I got you. I got you.
378
00:22:14,751 --> 00:22:17,087
-Should I just...? Okay.
-Get in there.
379
00:22:17,171 --> 00:22:18,589
-You sure?
-Yeah.
380
00:22:22,050 --> 00:22:23,385
Okay...
381
00:22:24,052 --> 00:22:25,095
Hi.
382
00:22:25,179 --> 00:22:26,263
Hi.
383
00:22:28,515 --> 00:22:29,892
How are you?
384
00:22:31,018 --> 00:22:32,436
Can you shut the fuck up?
385
00:22:32,519 --> 00:22:34,021
Fuck off!
386
00:22:35,230 --> 00:22:36,732
So what'd you do today?
387
00:22:36,815 --> 00:22:40,402
Well, I attended a Zoom seminar
388
00:22:40,485 --> 00:22:44,239
during which I watched
two hours of TikTok.
389
00:22:47,159 --> 00:22:50,495
Oh! I purchased three shares of stock.
390
00:22:51,413 --> 00:22:52,831
Okay, what stock?
391
00:22:52,915 --> 00:22:55,626
-GameStop.
-Yo, Roaring Kitty!
392
00:22:55,709 --> 00:22:57,294
C'mon. Yes, James.
393
00:22:59,087 --> 00:23:00,797
-Can I please put some pants back on?
-No!
394
00:23:00,881 --> 00:23:02,591
-Sit down.
-I'm three days into that shit.
395
00:23:02,674 --> 00:23:05,719
Look it. That's just, that's only
from today. I don't care.
396
00:23:05,802 --> 00:23:08,180
I don't know what the fuck I'm doing.
I just know I'm making money.
397
00:23:08,263 --> 00:23:09,723
I'm not sold on that.
398
00:23:09,806 --> 00:23:11,517
It's doubled since summer.
399
00:23:11,600 --> 00:23:13,977
And the more people
who buy in, the higher it'll go.
400
00:23:14,061 --> 00:23:16,438
That sounds like the literal definition
of a pyramid scheme.
401
00:23:17,314 --> 00:23:18,941
-That's time.
-Bravo!
402
00:23:42,297 --> 00:23:46,134
Sorry, I have terrible allergies.
And a killer headache.
403
00:23:46,218 --> 00:23:48,387
Could just be the music coming
from next door though.
404
00:23:48,470 --> 00:23:52,224
You see your buddy Ken's up to
57 billion in short positions?
405
00:23:52,307 --> 00:23:54,226
Yeah, smart. The economy's in free fall.
406
00:23:58,438 --> 00:24:00,816
I honestly can't tell
if that was you or Romeo.
407
00:24:00,899 --> 00:24:02,442
Very funny.
408
00:24:02,526 --> 00:24:05,529
I'm telling you. This is when
they drag out the guillotines.
409
00:24:06,113 --> 00:24:08,240
-You're obsessed with him.
-The man is an asshole.
410
00:24:08,323 --> 00:24:12,286
He stole five analysts from me.
All mediocre by the way.
411
00:24:13,078 --> 00:24:14,288
Oh, and two paintings.
412
00:24:14,371 --> 00:24:16,582
-What paintings?
-A Picasso and a de Kooning.
413
00:24:16,665 --> 00:24:18,083
He overpaid 500 million.
414
00:24:18,166 --> 00:24:20,294
That is my entire nut from last year.
415
00:24:20,377 --> 00:24:22,087
The man is an asshole. Just admit it.
416
00:24:22,171 --> 00:24:24,506
You're just bitter he stole
those analysts.
417
00:24:24,590 --> 00:24:26,550
You seen Citadel's projected revenue?
418
00:24:26,633 --> 00:24:28,760
$7 billion.
419
00:24:28,844 --> 00:24:31,388
That's double last year.
420
00:24:31,471 --> 00:24:33,515
Hoovering up all the stimulus checks.
421
00:24:33,599 --> 00:24:35,601
-They go straight from the retail traders
-Thank you.
422
00:24:35,684 --> 00:24:37,394
right into Kenny boy's pockets.
423
00:24:37,477 --> 00:24:41,565
The man just gets away with murder.
Look at what I just sent you.
424
00:24:49,239 --> 00:24:52,826
Is this a video of a man drinking
his own urine because a stock went up?
425
00:24:52,910 --> 00:24:54,077
#1 post on the site.
426
00:24:54,161 --> 00:24:55,704
Where did you get this?
427
00:24:55,787 --> 00:24:57,664
My analysts sent it to me.
428
00:24:57,748 --> 00:25:02,836
They call themselves apes and r-words.
Retard, can they say that?
429
00:25:02,920 --> 00:25:06,965
Remarkably self-aware. They've hooked
into GameStop for whatever reason.
430
00:25:07,049 --> 00:25:08,717
They think it's funny, it seems.
431
00:25:08,800 --> 00:25:10,135
I think it's funny.
432
00:25:10,219 --> 00:25:11,803
I think they think it's a good investment.
433
00:25:11,887 --> 00:25:14,181
Retail traders always lose.
434
00:25:16,016 --> 00:25:18,143
We've actually been short GameStop
since 2014.
435
00:25:18,227 --> 00:25:23,190
The company is a complete disaster.
They've had six CEOs in two years.
436
00:25:24,191 --> 00:25:26,693
Guess these guys are ignoring
obvious secular market trends.
437
00:25:26,777 --> 00:25:29,821
Or they're... the stupidest people
on earth.
438
00:25:29,905 --> 00:25:32,282
You're shorting more right now,
aren't you?
439
00:25:32,366 --> 00:25:34,785
600,000 shares, maybe.
440
00:25:35,369 --> 00:25:36,995
Dumb money, man.
441
00:25:37,079 --> 00:25:38,497
I'm happy to take it.
442
00:25:47,798 --> 00:25:49,633
Listen up, retards,
443
00:25:49,716 --> 00:25:54,680
Melvin Capital has declared war on GME
by shorting the stock even more.
444
00:25:54,763 --> 00:25:58,767
This is our call to activate
diamond hands, my fellow warriors.
445
00:25:58,851 --> 00:26:03,772
We will not let the gay bears defeat us.
We are on a mission to the fucking moon.
446
00:26:03,856 --> 00:26:06,817
This is one that is bigger than
your personal gains.
447
00:26:06,900 --> 00:26:09,444
More than just tendies for a new Lambo.
448
00:26:09,528 --> 00:26:13,615
This is our chance to rise up together.
To stick it to the big man.
449
00:26:13,699 --> 00:26:15,868
Squeezing Melvin by the fucking balls
450
00:26:15,951 --> 00:26:18,787
with the collective power
of diamond handing autists.
451
00:26:19,371 --> 00:26:22,791
Wall Street Bets I thought were a bunch
of idiots just throwing money at a stock
452
00:26:22,875 --> 00:26:24,501
because they thought it was funny.
453
00:26:24,585 --> 00:26:25,836
I was wrong.
454
00:26:25,919 --> 00:26:28,380
Now I see what Wall Street Bets really is.
455
00:26:28,463 --> 00:26:31,425
-It is a revolution.
-This is one of those rare moments
456
00:26:31,508 --> 00:26:33,552
where Wall Street are the ones
getting screwed over.
457
00:26:33,635 --> 00:26:35,220
And when we decide we're hungry,
458
00:26:35,304 --> 00:26:37,723
there is very little
the rich can do to stop us
459
00:26:37,806 --> 00:26:39,766
-from beating them.
-It's a GameStop to stop the game.
460
00:26:39,850 --> 00:26:42,060
-Power to the people.
-I'm jerking off right now.
461
00:26:42,144 --> 00:26:43,103
Jerking off right now.
462
00:26:43,187 --> 00:26:47,691
So welcome aboard, grab your peanuts,
and get the fuck in, retard.
463
00:26:47,774 --> 00:26:49,735
Ho, ho, ho!
464
00:26:49,818 --> 00:26:54,489
What up, everybody? Merry Christmas,
Happy New Year's, happy holidays.
465
00:26:55,365 --> 00:26:57,701
2020... See ya.
466
00:26:57,784 --> 00:27:00,829
2020 has been a very rough year
for my family too.
467
00:27:00,913 --> 00:27:03,916
So this GameStop news has been
a bit of a bright spot.
468
00:27:04,583 --> 00:27:06,502
Look at this, I mean, where it's at.
469
00:27:06,585 --> 00:27:10,214
It's a five bagger from where it was
over the summer.
470
00:27:10,297 --> 00:27:14,301
You don't often see a thesis
play out like this.
471
00:27:14,384 --> 00:27:15,344
So we gotta--
472
00:27:15,427 --> 00:27:17,930
We can't take it for granted, right?
We gotta appreciate it.
473
00:27:18,514 --> 00:27:21,391
Thank you, Santa. Right.
474
00:27:22,809 --> 00:27:25,812
I wanted to say cheers all of you.
475
00:27:25,896 --> 00:27:28,065
You're why I'm here in the first place.
476
00:27:30,025 --> 00:27:33,195
It's fun to talk about. I mean, I figure,
if I worked at a hedge fund,
477
00:27:33,278 --> 00:27:34,821
I'd compare notes with my colleagues.
But I don't.
478
00:27:34,905 --> 00:27:36,823
I'm stuck at home like you guys. So...
479
00:27:37,533 --> 00:27:39,368
I believe in this stock.
480
00:27:39,451 --> 00:27:41,828
And I believe in this community.
481
00:27:43,664 --> 00:27:48,460
I'll be honest,
it's been kind of a shitty year.
482
00:27:50,170 --> 00:27:54,466
For a lot of people. Lotta people
lost people the past 12 months. I did too.
483
00:27:54,550 --> 00:27:56,593
My sister, Sara.
484
00:28:05,769 --> 00:28:07,646
I don't talk about it much.
485
00:28:09,439 --> 00:28:11,400
But it felt right to tell you.
486
00:28:11,483 --> 00:28:13,735
We've been through so much together.
487
00:28:13,819 --> 00:28:16,864
You've made me feel a part of something,
something big.
488
00:28:17,823 --> 00:28:20,659
So, Merry Christmas. Cheers.
489
00:28:54,526 --> 00:28:55,652
I like your car.
490
00:28:58,155 --> 00:28:59,364
It's a classic.
491
00:28:59,448 --> 00:29:01,033
-'95.
-Yes!
492
00:29:01,116 --> 00:29:02,910
Sadly, it's a gas-guzzler.
493
00:29:02,993 --> 00:29:05,412
Yeah, yup, this one too.
494
00:29:06,371 --> 00:29:10,417
But she's such a beauty I couldn't stand
to trade her.
495
00:29:10,501 --> 00:29:12,085
'96 Honda Accord?
496
00:29:12,753 --> 00:29:15,506
2003. Not quite a classic.
497
00:29:23,889 --> 00:29:27,976
It's kinda weird to talk to someone
and see their whole face. Right?
498
00:29:28,060 --> 00:29:29,520
It's been so long.
499
00:29:30,354 --> 00:29:34,107
I... I work at a hospital,
you could probably tell.
500
00:29:34,191 --> 00:29:35,359
Essential worker.
501
00:29:35,943 --> 00:29:37,361
Thank you for everything you do.
502
00:29:37,444 --> 00:29:38,612
Oh, you're very welcome.
503
00:29:50,123 --> 00:29:51,542
Hey...
504
00:29:52,668 --> 00:29:54,086
Have a good night.
505
00:29:55,003 --> 00:29:56,129
Cool.
506
00:29:56,922 --> 00:29:58,423
Safe travels.
507
00:30:15,107 --> 00:30:17,276
Remember when you were just
making fun of me
508
00:30:17,359 --> 00:30:20,696
-and now you're literally obsessed.
-No, I don't recall.
509
00:30:20,779 --> 00:30:23,740
-How much are you up?
-948.
510
00:30:23,824 --> 00:30:26,869
Stock dipped a little,
it was like 2,000 before Christmas.
511
00:30:26,952 --> 00:30:28,495
Maybe you should sell.
512
00:30:30,664 --> 00:30:32,791
No. It's not about the money.
513
00:30:32,875 --> 00:30:34,710
The stock market is not about the money?
514
00:30:34,793 --> 00:30:37,379
No. You just gotta read
some of the stuff on here.
515
00:30:37,963 --> 00:30:41,675
Never understood why my dad
was so pissed off about this whole thing,
516
00:30:41,758 --> 00:30:42,801
but now I do.
517
00:30:44,386 --> 00:30:45,888
I told you about his store, right?
518
00:30:45,971 --> 00:30:47,347
Costco?
519
00:30:48,015 --> 00:30:49,516
Shopko.
520
00:30:49,600 --> 00:30:51,185
It was like, this like...
521
00:30:52,019 --> 00:30:53,812
big chain in our area.
522
00:30:54,646 --> 00:30:58,525
My dad, he worked his way all the way up
from bag boy to general manager.
523
00:30:59,276 --> 00:31:01,904
Then one of these Wall Street funds
came in, bought it,
524
00:31:01,987 --> 00:31:06,450
and vampire-sucked all the money out of it
and then declared bankruptcy.
525
00:31:06,533 --> 00:31:07,618
Fuck.
526
00:31:08,744 --> 00:31:09,828
Yeah.
527
00:31:11,538 --> 00:31:14,583
He lost his pension. Everything.
528
00:31:15,918 --> 00:31:18,795
It's why he had to work at
Pick 'n fuckin' Save till the day he died.
529
00:31:18,879 --> 00:31:21,256
And now that's why I'm up to my ass
in debt.
530
00:31:22,591 --> 00:31:25,260
And these fuckers are trying to do
the same thing to GameStop.
531
00:31:26,720 --> 00:31:27,888
Fuck 'em.
532
00:31:29,515 --> 00:31:30,849
Fuck 'em all.
533
00:31:52,496 --> 00:31:54,373
Wait, look.
534
00:31:54,456 --> 00:31:55,791
Look at this.
535
00:31:55,874 --> 00:31:58,669
-This guy wants to CashApp me $100
-Shut the fuck up.
536
00:31:58,752 --> 00:32:02,714
to send him a selfie. Or 500
if I live chat him from a bubble bath.
537
00:32:02,798 --> 00:32:04,633
Yes! Yes, we should do it.
538
00:32:04,716 --> 00:32:06,844
-What?
-Yes, we do it.
539
00:32:06,927 --> 00:32:09,304
And then put the money into GameStop.
540
00:32:09,847 --> 00:32:13,600
-Who am I talking to right now?
-C'mon, bitch, let's go get a tub.
541
00:32:27,406 --> 00:32:30,617
Your entire business is kids spending
their lunch money on random stocks.
542
00:32:30,701 --> 00:32:32,411
They come to you because it's free.
543
00:32:32,494 --> 00:32:36,540
But if you don't charge a commission
on their trades,
544
00:32:36,623 --> 00:32:38,458
how do you make money?
545
00:32:39,501 --> 00:32:45,090
The idea for Robinhood really came out
of the Occupy Wall Street movement.
546
00:32:45,174 --> 00:32:46,800
All those people
with no way of getting in.
547
00:32:46,884 --> 00:32:49,136
Is that what Occupy was about?
548
00:32:49,219 --> 00:32:51,930
I mean, were they trying to get in or...
549
00:32:52,014 --> 00:32:54,141
So we said, it's not enough to occupy.
550
00:32:54,224 --> 00:32:57,102
-We need to democratize Wall Street.
-Nat, I'm not sure you know this,
551
00:32:57,186 --> 00:32:58,562
but Baiju and I are both immigrants.
552
00:32:58,645 --> 00:33:00,397
I was born in Bulgaria,
553
00:33:00,480 --> 00:33:03,066
and Baiju's parents immigrated from India
to the Deep South.
554
00:33:03,942 --> 00:33:07,487
Can you imagine growing up
in rural Virginia with a name like
555
00:33:07,571 --> 00:33:09,740
Baiju Prafulkumar Bhatt?
556
00:33:10,741 --> 00:33:13,994
We created commission-free trading
so that anyone can get in the game.
557
00:33:14,077 --> 00:33:17,539
You don't even need a bank account.
People have really responded.
558
00:33:17,623 --> 00:33:21,502
We've added 5 million users
in the last six months,
559
00:33:21,585 --> 00:33:24,254
-for a total of...
-Close to 20 at this point. Million.
560
00:33:24,338 --> 00:33:27,341
So, you're one of these tech companies
that's exploded growth-wise,
561
00:33:27,424 --> 00:33:28,509
but doesn't make any money.
562
00:33:28,592 --> 00:33:30,344
-We make money.
-But how?
563
00:33:30,427 --> 00:33:33,347
-If you don't charge commission then...
-From interest on people's accounts.
564
00:33:33,430 --> 00:33:34,932
But your users are mostly young.
565
00:33:35,015 --> 00:33:37,100
So, how much money
can they really be keeping
566
00:33:37,184 --> 00:33:39,353
-in their account?
-There's also payment for order flow.
567
00:33:39,436 --> 00:33:40,270
What's that?
568
00:33:40,354 --> 00:33:43,148
We prefer the term "stock order routing."
569
00:33:43,232 --> 00:33:45,108
When you buy or sell a stock on our app,
570
00:33:45,192 --> 00:33:47,903
we send your order to market makers,
who process the order.
571
00:33:47,986 --> 00:33:50,280
They pay us a tiny rebate on every trade.
572
00:33:50,364 --> 00:33:52,074
-Tiny.
-But it adds up.
573
00:33:52,157 --> 00:33:53,742
We should really get back to how we...
574
00:33:53,825 --> 00:33:55,869
-started our company.
-What market maker do you work with?
575
00:33:55,953 --> 00:33:58,205
A few. Citadel Securities mostly.
576
00:33:58,288 --> 00:34:00,582
Ken Griffin's firm?
Isn't that a hedge fund?
577
00:34:00,666 --> 00:34:04,169
Well, Ken Griffin's hedge fund
is called Citadel.
578
00:34:04,253 --> 00:34:06,839
But Citadel Securities
is a completely different company.
579
00:34:06,922 --> 00:34:08,632
Also owned by Ken Griffin?
580
00:34:10,050 --> 00:34:11,134
All right,
581
00:34:11,802 --> 00:34:14,471
we weren't gonna do this,
but we'll give you a scoop.
582
00:34:15,138 --> 00:34:16,974
Off the record for now.
583
00:34:17,641 --> 00:34:18,684
Okay.
584
00:34:20,018 --> 00:34:21,937
We're looking to IPO soon.
585
00:34:23,813 --> 00:34:26,315
Damn. Okay.
586
00:34:27,442 --> 00:34:28,694
That's big.
587
00:34:54,469 --> 00:34:56,388
-Okay, don't say the bad word.
-Be humble
588
00:34:57,097 --> 00:34:58,682
Sit down
589
00:35:00,350 --> 00:35:02,936
Sit down, be humble
590
00:35:03,562 --> 00:35:04,855
-Sit down
-Sit down
591
00:35:11,737 --> 00:35:14,489
-Be humble, sit down, lil bitch
-Kev, please.
592
00:35:14,573 --> 00:35:16,825
-Well, sit down, lil bitch
-Your father needs to concentrate.
593
00:35:16,909 --> 00:35:20,245
Drove long-haul for forty years.
I don't need to concentrate.
594
00:35:20,329 --> 00:35:22,664
Fine. I need to concentrate.
595
00:35:22,748 --> 00:35:24,917
What do you need to concentrate about?
596
00:35:25,501 --> 00:35:26,335
What?
597
00:35:26,418 --> 00:35:28,128
I thought they were veering over
into our lane.
598
00:35:28,212 --> 00:35:30,881
Nobody was veering, Elaine. It's okay.
599
00:35:34,843 --> 00:35:36,887
You talk to any of the girls
at the clinic?
600
00:35:36,970 --> 00:35:38,597
A few of them have called.
601
00:35:41,975 --> 00:35:43,310
I miss it.
602
00:35:43,393 --> 00:35:45,145
Boys, never retire.
603
00:35:45,812 --> 00:35:47,481
Keith, never retire.
604
00:35:48,148 --> 00:35:50,150
Kevin, if you ever get a job,
never retire.
605
00:35:50,234 --> 00:35:51,235
I have a job!
606
00:35:51,318 --> 00:35:53,529
Yet you still live with Ma and Dad.
607
00:35:53,612 --> 00:35:57,157
Oh, you're some big professional now
cuz you're fucking king dork on YouTube?
608
00:35:57,241 --> 00:35:58,825
Just one of many dorks.
609
00:35:58,909 --> 00:36:00,786
This asshole
thinks he's Jimmy Buffett now.
610
00:36:00,869 --> 00:36:02,412
-C'mon.
-Warren Buffett.
611
00:36:02,496 --> 00:36:04,456
-Warren Buffett.
-See?
612
00:36:04,540 --> 00:36:07,459
You're not either of the Buffetts, Kitty!
613
00:36:10,712 --> 00:36:11,964
You're Ballz?
614
00:36:15,259 --> 00:36:16,969
-Hey!
-Ah, good Christ.
615
00:36:17,052 --> 00:36:17,886
-Fellas.
-Ma.
616
00:36:18,470 --> 00:36:20,347
Drop! Stop it!
617
00:36:24,810 --> 00:36:25,978
Door Dash is not a job.
618
00:36:27,145 --> 00:36:28,188
MassMutual's a job.
619
00:36:28,272 --> 00:36:30,440
-A job's got business cards.
-Door Dash is a job.
620
00:36:30,524 --> 00:36:31,733
Okay, I'm a first responder.
621
00:36:31,817 --> 00:36:34,528
And second of all, Ma,
nobody uses business cards anymore.
622
00:36:36,280 --> 00:36:38,198
We're proud of you, honey.
623
00:36:39,241 --> 00:36:40,492
Get a room.
624
00:37:00,387 --> 00:37:03,390
Take your time. I'll be in the car.
625
00:37:15,569 --> 00:37:16,904
Yeah.
626
00:37:25,495 --> 00:37:26,788
Love you.
627
00:37:50,854 --> 00:37:52,397
It has been dragging on.
628
00:37:52,481 --> 00:37:54,733
Honestly, I don't know
when we'll be able to start demo
629
00:37:54,816 --> 00:37:56,568
because local ordinances are a nightmare.
630
00:37:56,652 --> 00:37:59,821
My heart bleeds for you.
Having to borrow a tennis court.
631
00:37:59,905 --> 00:38:01,448
"Borrower is slave to the lender."
632
00:38:01,532 --> 00:38:02,699
Is that Buffett?
633
00:38:02,783 --> 00:38:04,576
It's the Bible. Proverbs.
634
00:38:04,660 --> 00:38:05,869
My Grandpa Melvin used to say it.
635
00:38:05,953 --> 00:38:07,579
When he was starting
his convenience store,
636
00:38:07,663 --> 00:38:08,830
he refused to borrow one dollar.
637
00:38:08,914 --> 00:38:09,957
It was a point of pride.
638
00:38:10,040 --> 00:38:11,750
Ah yes, your humble beginnings.
639
00:38:11,834 --> 00:38:15,879
"Grandpa Melvin" Capital, now with
16 billion under management.
640
00:38:16,463 --> 00:38:19,132
Better than "Citadel." You sound like
you're preparing for war.
641
00:38:19,216 --> 00:38:20,259
I'm a man of the people.
642
00:38:20,342 --> 00:38:21,468
You rented out a resort,
643
00:38:21,552 --> 00:38:24,888
relocated your entire firm here
so you could stay open during lockdown.
644
00:38:24,972 --> 00:38:28,141
Says the man who flew his whole firm down
private just for a party.
645
00:38:28,225 --> 00:38:30,060
And anyway, what kind of company
shuts down
646
00:38:30,143 --> 00:38:31,937
just because the government tells them to?
647
00:38:32,020 --> 00:38:34,147
All the ones in your short portfolio.
648
00:38:34,231 --> 00:38:35,399
And yours.
649
00:38:36,191 --> 00:38:38,735
-All except for one actually.
-Which one?
650
00:38:38,819 --> 00:38:40,696
-GameStop.
-How?
651
00:38:40,779 --> 00:38:43,365
They sell computer mouses. Mice?
652
00:38:43,448 --> 00:38:45,534
They claim it makes them
an essential business.
653
00:38:45,617 --> 00:38:48,120
That is the smartest dumbest thing
I've ever heard.
654
00:38:48,203 --> 00:38:49,246
I know, it's actually a fun one.
655
00:38:49,329 --> 00:38:53,709
The revenue's in the toilet.
632 million net loss last year.
656
00:38:53,792 --> 00:38:56,753
They'd be better off just burning
the whole company down.
657
00:38:56,837 --> 00:38:59,923
The stock though, it has been volatile.
It's been up.
658
00:39:00,007 --> 00:39:02,509
-Buybacks?
-Retail traders.
659
00:39:03,594 --> 00:39:04,678
Bro. I don't have it, bro.
660
00:39:04,761 --> 00:39:05,804
-Damn, brother.
-Sorry, man.
661
00:39:05,888 --> 00:39:07,306
-Yeah, yeah, yeah.
-Have a good one, bro.
662
00:39:07,389 --> 00:39:08,307
-Yo, stay up though!
-Yeah.
663
00:39:08,390 --> 00:39:09,725
Aight, bro. Aight.
664
00:39:15,397 --> 00:39:17,024
I'm gonna put these back real quick.
665
00:39:24,531 --> 00:39:25,699
Hey, Marcos.
666
00:39:26,658 --> 00:39:27,826
Yes, Bradley?
667
00:39:29,870 --> 00:39:31,663
I... I love how you engaged
with that customer,
668
00:39:31,747 --> 00:39:33,957
but we really wanna close
those pre-owned sales.
669
00:39:34,041 --> 00:39:35,334
The margin's more than double.
670
00:39:35,417 --> 00:39:36,877
Oh shit, double.
671
00:39:36,960 --> 00:39:38,795
Yeah, you didn't do
any of the five prongs, dude:
672
00:39:38,879 --> 00:39:42,341
Pre-orders. Reward-card subscriptions.
Used sales. New sales. Trade-ins.
673
00:39:42,424 --> 00:39:43,926
Yeah, I mean,
when I was a 16-year-old gamer,
674
00:39:44,009 --> 00:39:46,053
all I wanted was a reward-card
subscription.
675
00:39:46,136 --> 00:39:49,389
$5 cash back monthly,
20 points for every dollar spent...
676
00:39:49,973 --> 00:39:51,600
-Don't get me started.
-A lot of really smart people
677
00:39:51,683 --> 00:39:53,227
in corporate put this plan together.
678
00:39:53,310 --> 00:39:55,854
Yeah, but any of them ever
played a video game?
679
00:39:55,938 --> 00:39:58,774
It doesn't matter, Marcos,
because they own our asses.
680
00:39:58,857 --> 00:40:01,944
Yo, they don't own my ass, so.
681
00:40:02,486 --> 00:40:03,570
They do,
682
00:40:03,654 --> 00:40:05,030
and they always will.
683
00:40:08,116 --> 00:40:09,159
Mask.
684
00:40:11,078 --> 00:40:12,329
Hey, Bradley.
685
00:40:15,457 --> 00:40:17,543
You ever heard of a short squeeze?
686
00:40:25,300 --> 00:40:27,094
Is that a sexual thing?
687
00:40:28,929 --> 00:40:30,305
No.
688
00:40:31,723 --> 00:40:33,141
Oh, yeah!
689
00:40:33,225 --> 00:40:34,226
Here's what's going on.
690
00:40:34,309 --> 00:40:35,644
Late last year,
691
00:40:35,727 --> 00:40:40,440
hedge funds started shorting stock
in the retail store GameStop.
692
00:40:40,524 --> 00:40:44,027
Meaning they had bet against it
and needed it to drop in price
693
00:40:44,111 --> 00:40:47,823
for their investments to be successful.
Now unfortunately for the hedge funds,
694
00:40:47,906 --> 00:40:53,370
small investors started buying the stock
led by something called Wall Street Bets,
695
00:40:53,453 --> 00:40:57,040
a popular, juvenile,
foul-mouthed Reddit page.
696
00:40:57,124 --> 00:40:58,876
And when Wall Street Bets noticed
697
00:40:58,959 --> 00:41:02,546
that hedge funds had taken
a large short position in GameStop stock,
698
00:41:02,629 --> 00:41:05,382
they decided to punish
the Wall Street big boys
699
00:41:05,465 --> 00:41:08,218
and launched a coordinated buying spree.
700
00:41:08,844 --> 00:41:11,722
The revolutionaries on Reddit
are spanking Wall Street's ass.
701
00:41:11,805 --> 00:41:17,936
GameStop shares absolutely going nuts.
I think it was up over 70% at one point.
702
00:41:18,020 --> 00:41:19,897
-Massive short squeeze,
-Show me...
703
00:41:19,980 --> 00:41:22,649
-closing there, with a gain of 51%
-the tendiesss!
704
00:41:22,733 --> 00:41:24,610
after traders on message boards...
705
00:41:28,113 --> 00:41:29,448
What?
706
00:41:29,531 --> 00:41:34,453
Happy Wednesday! Happy hump day!
Gee... look at this!
707
00:41:34,536 --> 00:41:35,871
Look at this shit!
708
00:41:35,954 --> 00:41:39,082
A 90% increase in one day?
In one fucking day!
709
00:41:39,166 --> 00:41:42,711
We're goin' to the mooooon.
710
00:41:45,714 --> 00:41:48,258
Okay, now, if you've been watching
this price action,
711
00:41:48,342 --> 00:41:49,426
this is what I'm talking about.
712
00:41:49,510 --> 00:41:51,512
Yeah, but you can really feel that panic
from Wall Street, right.
713
00:41:51,595 --> 00:41:53,889
When they start... we're starting to feel
a little squeeze. Starting to feel it.
714
00:41:53,972 --> 00:41:55,432
You're starting to really feel
a little squeeze.
715
00:41:55,516 --> 00:41:58,227
I need a drink. I need a drink.
I know we all drinking tonight.
716
00:41:58,310 --> 00:41:59,770
We fucking did it!
717
00:41:59,853 --> 00:42:02,564
We started from the bottom
and now we're here!
718
00:42:03,732 --> 00:42:05,943
Let's raise a glass
719
00:42:06,026 --> 00:42:09,863
to a great company
that's undervalued, cheers.
720
00:42:10,447 --> 00:42:14,076
Soon may the tendiemen come...
Show me the tendies. Show me the tendies.
721
00:42:14,159 --> 00:42:15,327
I got 'em right here.
722
00:42:15,410 --> 00:42:18,705
Show me the tendies. I just gotta...
I just gotta dip.
723
00:42:18,789 --> 00:42:20,499
I just gotta... I just gotta dip.
724
00:42:29,424 --> 00:42:31,051
11 fucking million dollars?
725
00:42:31,134 --> 00:42:32,010
What the fuck!
726
00:42:32,094 --> 00:42:34,763
-Oh, language. The baby's here.
-What are you gonna do?
727
00:42:34,847 --> 00:42:37,057
Get a Ferrari? A Lambo?
728
00:42:37,140 --> 00:42:38,809
Caroline, you're gonna ask for
a big diamond, right?
729
00:42:38,892 --> 00:42:40,185
I have a diamond.
730
00:42:40,269 --> 00:42:42,646
Keith, you get a fucking diamond!
If I were you, I'd look like
731
00:42:42,729 --> 00:42:45,232
-DJ Khaled right now.
-Kev! It's not real.
732
00:42:45,315 --> 00:42:46,859
I mean, it's real, but it's just paper.
733
00:42:46,942 --> 00:42:49,945
Just on paper! You're gonna sell, right?
734
00:42:50,028 --> 00:42:51,238
-No!
-Maybe.
735
00:42:51,780 --> 00:42:53,532
I mean, I don't know.
736
00:42:54,575 --> 00:42:57,995
-We... we haven't talked about it.
-What the fuck is wrong with you?
737
00:42:58,078 --> 00:43:01,248
I'm riding Mom's bike every day
to Dorchester to drop off cheeseburgers
738
00:43:01,331 --> 00:43:02,708
because you won't let me use
your fucking car.
739
00:43:02,791 --> 00:43:04,877
And you're mister "I won't sell
and take millions of dollars."
740
00:43:04,960 --> 00:43:07,212
And, well, what you do with your life
is your choice.
741
00:43:07,296 --> 00:43:10,132
You think I wanted to get laid off
from Dick's during a global pandemic?
742
00:43:10,215 --> 00:43:13,343
I love those sneakers, man.
I loved that store. I love Dick's.
743
00:43:13,427 --> 00:43:16,430
-Mom's bike doesn't even have gears.
-We don't know if it's reached the top.
744
00:43:16,513 --> 00:43:19,349
The stock jumped like 23% yesterday.
745
00:43:19,433 --> 00:43:21,226
-Double from Friday's close.
-But he's right.
746
00:43:21,310 --> 00:43:23,604
I mean, 11 million dollars
is a lot of fucking dough.
747
00:43:23,687 --> 00:43:24,688
-Thank you!
-Okay, yes,
748
00:43:24,771 --> 00:43:27,983
but since Ryan Cohen
joined the board, the...
749
00:43:28,066 --> 00:43:29,318
This fucking guy.
750
00:43:29,401 --> 00:43:31,653
...got a 2 billion market cap.
I mean, could it go pff? Yeah.
751
00:43:31,737 --> 00:43:34,698
But that's not what I'm seeing.
That's not what I'm seeing, Kev.
752
00:43:35,782 --> 00:43:37,534
Kev? You there?
753
00:43:40,162 --> 00:43:41,288
Did he hang up?
754
00:43:41,997 --> 00:43:43,332
Yeah.
755
00:43:53,842 --> 00:43:55,719
Fuck, I think hold.
756
00:43:59,097 --> 00:44:00,057
Girl, you gotta sell.
757
00:44:00,140 --> 00:44:01,725
I'm not selling.
758
00:44:01,808 --> 00:44:02,935
How much are you up?
759
00:44:03,018 --> 00:44:05,562
58,000 and some change.
760
00:44:07,481 --> 00:44:09,816
Baby girl, what the fuck?
761
00:44:09,900 --> 00:44:11,944
You need to get out while you can.
762
00:44:12,027 --> 00:44:14,613
-Don't be an idiot.
-You remember red headband guy.
763
00:44:14,696 --> 00:44:18,116
He's worth 11 million dollars.
And he's not selling.
764
00:44:18,200 --> 00:44:20,160
-No fucking way.
-Yes fucking way.
765
00:44:20,244 --> 00:44:22,788
This is what I'm telling you.
Diamond hands.
766
00:44:23,956 --> 00:44:27,501
Diamond hands. You hold the line
no matter what the market does.
767
00:44:27,584 --> 00:44:28,919
No matter what Wall Street says.
768
00:44:29,002 --> 00:44:30,796
What happens
when everyone else sells first
769
00:44:30,879 --> 00:44:33,715
and before you get out
you've lost all your money?
770
00:44:33,799 --> 00:44:35,467
Are there any volunteers?
771
00:44:35,551 --> 00:44:37,344
-I'm...
-Anyone?
772
00:44:37,427 --> 00:44:39,555
-We're gonna hold the line.
-C'mon.
773
00:44:39,638 --> 00:44:41,682
-Someone has to go first.
-Okay, yeah. I'll do it.
774
00:44:47,062 --> 00:44:48,605
Here we go everyone.
775
00:44:48,689 --> 00:44:51,608
The first Covid vaccine
at Pittsburgh Presbyterian.
776
00:44:53,151 --> 00:44:54,528
Fuck! Fuck!
777
00:44:54,611 --> 00:44:58,532
Fuck! Guys, we need your help.
What should we do?
778
00:44:59,783 --> 00:45:03,620
So listen, my girl bought in under 20
and now it is over 60.
779
00:45:03,704 --> 00:45:05,539
So like, should she sell?
780
00:45:05,622 --> 00:45:07,833
On the one hand, she has principles.
781
00:45:08,876 --> 00:45:12,254
On the other, she has 100k
in student debt. So...
782
00:45:12,337 --> 00:45:15,007
One way you could think
about the comparison between
783
00:45:15,090 --> 00:45:17,634
Marxism and Utilitarian tradition
784
00:45:17,718 --> 00:45:21,346
is that they both have a micro story
and a macro story.
785
00:45:21,430 --> 00:45:23,724
When you think of Utilitarian tradition...
786
00:45:23,807 --> 00:45:28,145
The only thing that would convince her
to sell is if Roaring Kitty sold.
787
00:45:29,354 --> 00:45:31,773
So... Where my pussy at?
788
00:45:31,857 --> 00:45:34,860
You have the micro story
for the Pareto principle
789
00:45:34,943 --> 00:45:37,613
for how each individual action will go.
790
00:45:38,447 --> 00:45:41,825
-But you also have a macro story.
-Where my pussy at? Where my pussy at?
791
00:45:41,909 --> 00:45:43,202
Where my pussy at?!
792
00:45:43,285 --> 00:45:47,247
-Sorry.
-Where my pussy aaaaatttt?!
793
00:45:47,331 --> 00:45:48,790
I'm so sorry.
794
00:45:48,874 --> 00:45:52,169
Hey, hey, where my pussy at? Ha!
795
00:45:52,252 --> 00:45:55,047
-Where is my pussy at?
-It's not in here.
796
00:46:15,984 --> 00:46:17,653
Whoa,
797
00:46:18,403 --> 00:46:20,280
wait, listen, hold on.
798
00:46:21,657 --> 00:46:25,327
"Future generations will look back
and say 'Good men stood here,
799
00:46:25,410 --> 00:46:28,038
good men fought, and died
on this ground...
800
00:46:28,121 --> 00:46:32,709
as they point to a TradingView daily chart
of GME zoomed in on January.'
801
00:46:33,377 --> 00:46:35,045
Since the spawn of the stonkmarket,
802
00:46:35,128 --> 00:46:37,673
two classes of people
have been pitted against each other..."
803
00:46:37,756 --> 00:46:42,261
"Eternal enemies, forever forced and
fated to combat: lions and hyenas."
804
00:46:42,344 --> 00:46:46,056
"These lions...
these Wall Street hedge funds have it all.
805
00:46:46,139 --> 00:46:47,307
Billions of dollars,
806
00:46:47,391 --> 00:46:52,187
bailouts for reckless trades,
these dirty fucking criminal bastards."
807
00:46:52,271 --> 00:46:56,942
Yup, these fucking motherfuckers.
808
00:46:57,025 --> 00:46:58,527
"And then there's us.
809
00:46:58,610 --> 00:47:03,198
The working man, the average Joe.
What do we have?
810
00:47:03,782 --> 00:47:06,577
What the fuck do we have?
811
00:47:06,660 --> 00:47:08,662
They literally call us 'dumb money.'"
812
00:47:08,745 --> 00:47:10,497
"These lions, these hedge fund guys,
813
00:47:10,581 --> 00:47:12,499
were born with silver spoons
in their mouths.
814
00:47:12,583 --> 00:47:14,126
The top 1% of the 1%.
815
00:47:14,209 --> 00:47:17,796
They have massive bank accounts,
eat medium rare Grade A Wagyu steak."
816
00:47:17,880 --> 00:47:20,174
What the fuck is that?
That sounds delicious.
817
00:47:20,257 --> 00:47:22,551
"With truffle shavings for lunch."
That's fuck!
818
00:47:22,634 --> 00:47:24,428
"They frequent the finest strip clubs.
819
00:47:24,511 --> 00:47:26,597
They have blow and escorts
on their yacht parties."
820
00:47:26,680 --> 00:47:28,515
Why do we hate these guys?
821
00:47:28,599 --> 00:47:30,559
"Then you know what
they will tell these escorts?"
822
00:47:30,642 --> 00:47:32,728
-What's an escort?
-Stop listening!
823
00:47:32,811 --> 00:47:37,024
"When the smoking hot blonde asks them,
'Like, how do you have so much money?'"
824
00:47:37,941 --> 00:47:42,779
"You know what they say? They say
'Ha, dumb money, babe. Dumb money.'"
825
00:47:44,990 --> 00:47:46,700
Something's burning.
826
00:47:47,826 --> 00:47:50,287
Oh... damn it.
827
00:47:50,370 --> 00:47:52,122
-Shit!
-You said "shit".
828
00:48:00,964 --> 00:48:05,052
"Last, the GME trade is about
class warfare. Plain and simple.
829
00:48:05,761 --> 00:48:09,014
We may be hyenas, yes. But guess what?
830
00:48:09,097 --> 00:48:12,351
You put enough of us together,
and we can destroy a lion."
831
00:48:13,519 --> 00:48:15,604
It's on, motherfuckers!
832
00:48:18,607 --> 00:48:20,859
Aw, we coming for y'all.
833
00:48:20,943 --> 00:48:22,778
Y'all better get ready.
834
00:48:22,861 --> 00:48:24,029
We fucking coming for you.
835
00:48:24,112 --> 00:48:26,740
That is some nerdy shit, man.
836
00:48:27,407 --> 00:48:30,077
My brother is a fucking nerd.
837
00:48:36,416 --> 00:48:38,460
Fuck!
838
00:48:44,132 --> 00:48:46,802
Counting down from 5 and then
I'm coming back in there.
839
00:48:46,885 --> 00:48:48,887
I don't think you want that.
840
00:48:50,514 --> 00:48:51,390
5.
841
00:48:52,015 --> 00:48:53,767
-4.
-3.
842
00:48:53,851 --> 00:48:55,477
2.
843
00:48:56,311 --> 00:48:57,604
Thank you.
844
00:48:57,688 --> 00:48:59,439
-How was your day?
-Long.
845
00:48:59,523 --> 00:49:04,027
It's so hard to keep them focused
on Zoom school. They're just not into it.
846
00:49:04,903 --> 00:49:06,530
How was your day?
847
00:49:06,613 --> 00:49:07,698
Good.
848
00:49:09,992 --> 00:49:12,452
You're not worried
about the short squeeze thing?
849
00:49:12,536 --> 00:49:14,538
The dam'll break next week.
850
00:49:14,621 --> 00:49:16,999
A few of them will decide it's gone
high enough, they'll cash out,
851
00:49:17,082 --> 00:49:20,210
the rest will follow,
whole thing will come crashing down.
852
00:49:20,294 --> 00:49:23,380
I can't think of the last short squeeze
that actually worked.
853
00:49:24,339 --> 00:49:25,674
Ackman and Herbalife.
854
00:49:26,258 --> 00:49:28,260
Before that... Piggly Wiggly?
855
00:49:28,343 --> 00:49:29,595
Piggly Wiggly.
856
00:49:29,678 --> 00:49:34,266
Yeah. 1923, a bear cartel was shorting
the Piggly Wiggly grocery store.
857
00:49:34,349 --> 00:49:39,313
The founder, he takes out a loan for
what would be $150 million today.
858
00:49:39,396 --> 00:49:41,773
He buys back almost all the stock,
like 99% of the stock.
859
00:49:41,857 --> 00:49:44,109
The price of the stock goes up 50%.
860
00:49:44,193 --> 00:49:46,361
-How much is GameStop up?
-Then, the exchange,
861
00:49:46,445 --> 00:49:48,238
they halt trading on the stock
862
00:49:48,322 --> 00:49:51,074
so the short sellers
can cover their positions.
863
00:49:51,158 --> 00:49:52,743
Is that legal?
864
00:49:52,826 --> 00:49:55,495
The founder had to declare bankruptcy.
So...
865
00:49:56,371 --> 00:49:57,873
it was all fine in the end.
866
00:49:57,956 --> 00:50:00,417
And you knew all that or you looked it up?
867
00:50:01,710 --> 00:50:03,670
Every fund manager knows that story.
868
00:50:07,758 --> 00:50:09,134
You looked it up.
869
00:50:10,969 --> 00:50:12,846
Double checked some numbers maybe.
870
00:50:22,231 --> 00:50:25,275
Oh, do you see what's going on at GME?
871
00:50:25,359 --> 00:50:27,319
-There's more of these idiots.
-A lot more.
872
00:50:27,402 --> 00:50:28,612
They won't hold much longer.
873
00:50:28,695 --> 00:50:31,365
Oh, Gabe, honey, they're holding.
874
00:50:31,448 --> 00:50:33,450
It just crossed a hundred.
875
00:50:35,827 --> 00:50:37,329
Gabe?
876
00:50:37,412 --> 00:50:38,830
Where are you?
877
00:50:43,252 --> 00:50:45,254
You should probably dial in.
878
00:50:45,337 --> 00:50:46,880
Yeah, be on in one sec.
879
00:50:46,964 --> 00:50:49,591
GameStop, extraordinary volatility today.
880
00:50:49,675 --> 00:50:51,844
You know, we might want
to make this the stock of the day.
881
00:50:51,927 --> 00:50:54,596
Now that it's gaining 103%.
882
00:50:54,680 --> 00:50:55,889
-That is volatility.
-I will tell you,
883
00:50:55,973 --> 00:50:57,140
I've never seen anything like it.
884
00:50:58,267 --> 00:50:59,768
I'm concerned about it deeply.
885
00:50:59,852 --> 00:51:02,062
I'm calling it the ultimate short squeeze.
886
00:51:02,145 --> 00:51:04,731
-How much money is being made...
-Holy fucking shit.
887
00:51:04,815 --> 00:51:07,067
...now we're gonna talk about GameStop.
Those shares...
888
00:51:07,150 --> 00:51:10,195
-nonstop earning about of 130% today.
-Holy fucking shit!
889
00:51:10,279 --> 00:51:12,281
As bullish retail traders frenetically
buy shares.
890
00:51:12,364 --> 00:51:13,198
Holy fucking shit!
891
00:51:13,282 --> 00:51:14,575
Yo, holy shit!
892
00:51:15,158 --> 00:51:16,368
Shit balls.
893
00:51:16,451 --> 00:51:18,662
-Holy shit!
-You look at the chart for the month.
894
00:51:18,745 --> 00:51:21,290
-It's up 220%.
-Oh, fuck!
895
00:51:21,874 --> 00:51:23,584
-Look there... It's crazy.
-Everything okay?
896
00:51:23,667 --> 00:51:25,335
Holy fucking shit!
897
00:51:25,419 --> 00:51:26,545
Holy fucking shit!
898
00:51:26,628 --> 00:51:30,215
...if you go short in some of these
elaborate options trades,
899
00:51:30,299 --> 00:51:32,426
you can lose money to infinity.
900
00:51:32,509 --> 00:51:36,096
GameStop now at 123 and change,
another record high.
901
00:51:36,180 --> 00:51:38,056
-Holy fucking shit!
-Completely disconnected...
902
00:51:38,140 --> 00:51:39,391
from the fundamentals.
903
00:51:39,474 --> 00:51:42,477
And this is very much being driven
by retail investors.
904
00:51:42,561 --> 00:51:45,522
-Many of them trading on Robinhood.
-When the music stops, somebody...
905
00:51:45,606 --> 00:51:48,859
-is gonna be left without a seat.
-This for casino money only.
906
00:51:48,942 --> 00:51:50,903
They're literally putting the game
in GameStop.
907
00:51:50,986 --> 00:51:52,946
...is the craziest I think I've ever seen.
908
00:51:53,030 --> 00:51:56,783
True investors never heard of Reddit
a few years ago.
909
00:51:56,867 --> 00:51:58,660
But for that to drive a short squeeze...
910
00:51:58,744 --> 00:52:00,996
It is Wall Street Bets.
It's worth going to the site
911
00:52:01,079 --> 00:52:02,873
because it is incredibly compelling.
912
00:52:02,956 --> 00:52:05,709
You may think it's froth,
but they are using arguments
913
00:52:05,792 --> 00:52:07,753
that they think hold up under scrutiny.
914
00:52:07,836 --> 00:52:10,255
-I just like the stock!
-I can't look.
915
00:52:10,339 --> 00:52:12,466
-I can't look. I can't look.
-It's up another 4%.
916
00:52:12,549 --> 00:52:13,884
I'm gonna have a fucking heart attack.
917
00:52:13,967 --> 00:52:15,511
-Should we sell?
-And betray your boyfriend?
918
00:52:15,594 --> 00:52:16,720
Absolutely not. No.
919
00:52:16,803 --> 00:52:18,722
-The stock is up 581%.
-Maybe.
920
00:52:18,805 --> 00:52:20,891
...they are being very specific:
921
00:52:20,974 --> 00:52:22,184
-To break the shorts.
-Yes.
922
00:52:22,267 --> 00:52:23,977
I mean, what's going on
in GameStop right now
923
00:52:24,061 --> 00:52:26,146
conceivably could take
a couple of firms out.
924
00:52:26,230 --> 00:52:28,982
Hedge funds if they were
stupid enough to be short.
925
00:52:29,066 --> 00:52:31,026
Babe, how much did we make today?
926
00:52:32,486 --> 00:52:33,362
5 million.
927
00:52:33,946 --> 00:52:34,905
And yesterday?
928
00:52:35,531 --> 00:52:36,615
4 million.
929
00:52:39,159 --> 00:52:39,993
Babe...
930
00:52:40,702 --> 00:52:41,745
Yeah?
931
00:52:42,704 --> 00:52:45,415
We're, like, really fucking rich.
932
00:52:52,089 --> 00:52:53,841
How much did we lose today?
933
00:52:56,385 --> 00:52:57,261
A billion.
934
00:52:59,888 --> 00:53:00,806
And yesterday?
935
00:53:02,432 --> 00:53:03,433
A billion.
936
00:53:07,855 --> 00:53:09,481
Some news to bring you right now is that
937
00:53:09,565 --> 00:53:11,108
Melvin Capital Management,
938
00:53:11,191 --> 00:53:15,237
this is the hedge fund
that had shorted this company,
939
00:53:15,320 --> 00:53:20,909
that had effectively been attacked
by an army of investors trying to push up
940
00:53:20,993 --> 00:53:23,745
and press up the stock of GameStop.
941
00:53:23,829 --> 00:53:26,331
They've taken a rather huge loss...
942
00:53:26,415 --> 00:53:29,251
Sorry, if you could just
put your head up for a sec?
943
00:53:29,918 --> 00:53:30,836
Thanks.
944
00:53:31,336 --> 00:53:32,754
How long've you been down here?
945
00:53:33,255 --> 00:53:34,089
A few months.
946
00:53:35,549 --> 00:53:36,884
You like the weather?
947
00:53:39,052 --> 00:53:42,514
Heat is nice. The humidity not as much.
948
00:53:42,598 --> 00:53:43,765
I can see that.
949
00:53:45,601 --> 00:53:47,936
All right, I think you're good to go.
950
00:54:13,629 --> 00:54:15,547
-Hey!
-Hey, man.
951
00:54:15,631 --> 00:54:17,382
-Hi.
-It's good to connect.
952
00:54:17,466 --> 00:54:18,592
You too. Great to be here.
953
00:54:18,675 --> 00:54:19,760
-Excited.
-I'm glad you are.
954
00:54:19,843 --> 00:54:21,261
Listen, I want to get right to it.
955
00:54:21,345 --> 00:54:24,431
From what I'm hearing,
you guys are bankrupt.
956
00:54:26,183 --> 00:54:27,684
No! What? No.
957
00:54:27,768 --> 00:54:30,771
'Cause the word on the street is
that you're drowning.
958
00:54:30,854 --> 00:54:33,023
No, that's... That's crazy.
959
00:54:33,106 --> 00:54:35,526
-We're doing great.
-You're on the record with that?
960
00:54:36,109 --> 00:54:36,985
Obviously.
961
00:54:37,069 --> 00:54:40,239
All right man. Well, then, we're gonna
get the live feed up right now,
962
00:54:40,322 --> 00:54:42,616
and then we're gonna get to you
right after this next advertising break.
963
00:54:42,699 --> 00:54:44,326
Perfect, great. Yes, can't wait.
964
00:54:49,081 --> 00:54:51,083
All right, one more spot
and then you're gonna be up.
965
00:54:51,166 --> 00:54:54,169
I really do think this is the right time
for you to communicate.
966
00:54:54,253 --> 00:54:56,129
-Great, yes. Agreed.
-Great. We're gonna do it.
967
00:54:56,213 --> 00:54:58,757
Address it all head on.
It's gonna be good.
968
00:55:00,843 --> 00:55:03,011
-No.
-What? Gabe, we're on in 10 seconds.
969
00:55:03,095 --> 00:55:04,304
I can't do this. I'm sorry.
970
00:55:04,388 --> 00:55:05,264
Gabe, seriously.
971
00:55:05,347 --> 00:55:06,974
-Bye, I'm terribly sorry.
-Seriously, c'mon.
972
00:55:07,057 --> 00:55:08,851
-Good to see you. The pleasure's here.
-We're going on right now.
973
00:55:15,566 --> 00:55:16,400
Babe,
974
00:55:17,568 --> 00:55:18,735
what's the damage?
975
00:55:51,059 --> 00:55:52,352
Let me guess, you need cash.
976
00:55:52,436 --> 00:55:54,396
Didn't call Ken first, did you?
977
00:55:54,479 --> 00:55:56,064
He had Phillips reach out.
978
00:55:56,565 --> 00:55:57,941
How much did he offer?
979
00:55:59,443 --> 00:56:00,903
I haven't called him back yet.
980
00:56:00,986 --> 00:56:02,321
Well, how much do you need?
981
00:56:02,404 --> 00:56:04,781
You know what? Don't answer that.
The number doesn't matter.
982
00:56:04,865 --> 00:56:06,366
Whatever it is, I'd love to buy in.
983
00:56:06,450 --> 00:56:08,452
Tell Ken to fill in the rest.
984
00:56:08,535 --> 00:56:09,661
Prick.
985
00:56:15,709 --> 00:56:16,752
-Hey, Ken.
-Hey.
986
00:56:16,835 --> 00:56:19,880
Hi... So, I might need...
987
00:56:22,633 --> 00:56:23,634
A new investor.
988
00:56:23,717 --> 00:56:24,927
Consider it done.
989
00:56:25,010 --> 00:56:26,929
Just keep moving forward.
990
00:56:27,012 --> 00:56:29,556
Don't think about
what Grandpa Melvin used to say.
991
00:56:29,640 --> 00:56:30,891
Prick.
992
00:56:32,768 --> 00:56:34,728
-Thank you.
-Both Citadel
993
00:56:34,811 --> 00:56:38,440
-and Point72 have infused
-Poor guy.
994
00:56:38,524 --> 00:56:41,944
$3 billion into Melvin Capital
995
00:56:42,027 --> 00:56:44,821
-to try to shore up...
-Another goddamn bailout.
996
00:56:44,905 --> 00:56:46,532
Can you believe this crap?
997
00:56:46,615 --> 00:56:47,741
Nobody bailed me out
998
00:56:47,824 --> 00:56:50,744
when Richard left me alone
with two toddlers, a mortgage,
999
00:56:50,827 --> 00:56:52,037
a shit car that never works.
1000
00:56:52,120 --> 00:56:53,789
You can say "shit" but we can't?
1001
00:56:53,872 --> 00:56:55,832
It's just so damn unfair and you know it.
1002
00:56:55,916 --> 00:56:59,837
All we've done for the last year
is work our asses off helping people,
1003
00:56:59,920 --> 00:57:02,548
and all we've gotten is one $600 check.
1004
00:57:02,631 --> 00:57:05,592
This idiot effs up just about as bad
as anyone could eff,
1005
00:57:05,676 --> 00:57:08,637
and his friends come running in
with $3 billion.
1006
00:57:08,720 --> 00:57:10,889
That's why I keep telling you:
you're never gonna win.
1007
00:57:10,973 --> 00:57:13,433
Just take the money and do something nice.
Pay off your mortgage.
1008
00:57:13,517 --> 00:57:15,018
Get that one braces.
1009
00:57:15,602 --> 00:57:17,104
Look who's still holding.
1010
00:57:18,564 --> 00:57:20,566
If he's in, I'm in.
1011
00:57:20,649 --> 00:57:22,526
Yeah, he's still gonna need braces.
1012
00:57:22,609 --> 00:57:23,610
Your teeth are perfect.
1013
00:57:23,694 --> 00:57:25,821
So what? The stock's up $150.
1014
00:57:25,904 --> 00:57:27,739
-How much higher is it gonna go?
-We control the price now.
1015
00:57:27,823 --> 00:57:30,576
Not Wall Street.
And no one on there is selling.
1016
00:57:30,659 --> 00:57:31,702
Shoes.
1017
00:57:31,785 --> 00:57:33,328
You're all so delusional.
1018
00:57:33,412 --> 00:57:36,331
Maybe. But look at what we managed to do
with these hedge funds.
1019
00:57:36,415 --> 00:57:37,958
If we keep driving up the price,
1020
00:57:38,041 --> 00:57:41,128
maybe we'll scare more of these guys
into closing out their shorts,
1021
00:57:41,211 --> 00:57:43,213
and then all of that bailout money...
1022
00:57:43,297 --> 00:57:44,631
-Wait...
-becomes ours.
1023
00:57:44,715 --> 00:57:45,549
your screen name...
1024
00:57:46,341 --> 00:57:47,885
is Stonkmom?
1025
00:57:52,306 --> 00:57:53,307
-Hey!
-Help your mother.
1026
00:57:53,390 --> 00:57:55,809
-Why me and not Keith?
-Just shut up and do it, okay?
1027
00:57:55,893 --> 00:57:58,020
-Kev, take the potatoes.
-'Cause you're rich now?
1028
00:57:58,103 --> 00:58:00,105
Mr. 23 million on paper but I won't sell.
1029
00:58:00,189 --> 00:58:02,357
-Kevin.
-Loser says what?
1030
00:58:03,358 --> 00:58:05,819
-What?
-Kevin, let Keith tell them.
1031
00:58:09,031 --> 00:58:09,907
Tell us what?
1032
00:58:11,533 --> 00:58:17,372
Oh... I was waiting to tell you in person.
But the stock we bet on, GameStop is up.
1033
00:58:17,456 --> 00:58:18,540
Ah, good.
1034
00:58:19,666 --> 00:58:22,127
-How much up?
-He's up 23 million, Pop.
1035
00:58:22,711 --> 00:58:23,712
You're an asshole.
1036
00:58:23,795 --> 00:58:26,256
-Don't kid us.
-It's real.
1037
00:58:26,340 --> 00:58:28,926
Yeah, it's real.
And he's refusing to sell.
1038
00:58:30,802 --> 00:58:31,845
What is going on?
1039
00:58:32,888 --> 00:58:34,223
-You're pulling our leg.
-No.
1040
00:58:34,306 --> 00:58:36,141
Your son's a huge Internet celebrity now.
1041
00:58:36,225 --> 00:58:38,977
Millions of people including "Stonkmom"
thinks he's some like,
1042
00:58:39,061 --> 00:58:41,021
-I don't know, investment genius.
-No, he is a genius.
1043
00:58:41,104 --> 00:58:42,356
No, he's not.
1044
00:58:42,439 --> 00:58:44,107
You're up 23 million?
1045
00:58:45,108 --> 00:58:46,527
And you're not selling.
1046
00:58:48,153 --> 00:58:49,488
Jesus, Mary and Joseph.
1047
00:58:49,571 --> 00:58:50,989
What the fuck is wrong with you?
1048
00:58:51,073 --> 00:58:53,325
Do you even know
how much $23 million is?
1049
00:58:53,408 --> 00:58:55,619
And you're just gonna let it ride?
What's the matter with you?
1050
00:58:55,702 --> 00:58:57,829
-I know what I'm doing, Dad.
-But why aren't you selling?
1051
00:58:57,913 --> 00:58:59,706
What, wait! Is this illegal?
Are you in trouble?
1052
00:58:59,790 --> 00:59:01,124
No. No, he's not in trouble.
1053
00:59:01,208 --> 00:59:02,709
-It's totally legal.
-Yeah, he's posting
1054
00:59:02,793 --> 00:59:03,627
his balance sheet on the Internet.
1055
00:59:03,710 --> 00:59:04,962
-What?
-Hedge fund managers,
1056
00:59:05,045 --> 00:59:07,422
they go on CNBC all the time
to pump up the stock.
1057
00:59:07,506 --> 00:59:09,883
All I do is post my balance sheet
on Wall Street Bets
1058
00:59:09,967 --> 00:59:13,136
-after market close.
-You post your balance sheet?
1059
00:59:13,220 --> 00:59:14,304
Yeah, the same idiot
1060
00:59:14,388 --> 00:59:17,099
who left a fresh pair of Nikes out on
the bleachers for just anyone to take.
1061
00:59:17,182 --> 00:59:18,267
So you admit they were stolen!
1062
00:59:18,350 --> 00:59:19,893
-We gotta talk about this.
-I admit you're a fuckin' moron.
1063
00:59:19,977 --> 00:59:21,436
-Least I won the race.
-What's the point of winning the race
1064
00:59:21,520 --> 00:59:22,896
if you let some dipshit steal the prize?
1065
00:59:22,980 --> 00:59:24,231
You would've broke a four
if you had the Zooms on.
1066
00:59:24,314 --> 00:59:25,732
A four minute mile
isn't everything, Kevin.
1067
00:59:25,816 --> 00:59:27,609
Maybe we should get in touch
with Briggsy.
1068
00:59:27,693 --> 00:59:29,027
You know, he works in finance.
1069
00:59:29,111 --> 00:59:30,571
-Yes.
-You think Briggsy knows
1070
00:59:30,654 --> 00:59:31,738
more about this than Keith does?
1071
00:59:31,822 --> 00:59:33,866
Well, can you talk about why
you're putting your stocks
1072
00:59:33,949 --> 00:59:35,534
-in the Wall Street Journal?
-Wall Street Bets.
1073
00:59:35,617 --> 00:59:37,619
What if someone tries to rob you?
Kidnap the baby?
1074
00:59:37,703 --> 00:59:38,954
No one's gonna kidnap the baby.
1075
00:59:39,037 --> 00:59:40,831
-Nobody wants that baby, Mom.
-I'm just saying,
1076
00:59:40,914 --> 00:59:42,124
that if we're gonna talk to somebody,
1077
00:59:42,207 --> 00:59:43,834
-you need to talk to Briggsy.
-Yes, honey.
1078
00:59:43,917 --> 00:59:45,419
-This is the point...
-Enough!
1079
00:59:46,503 --> 00:59:48,088
You guys, Keith has literally
1080
00:59:48,172 --> 00:59:50,382
poured his heart and his soul
into this for the past year.
1081
00:59:50,465 --> 00:59:51,758
He knows what he's doing.
1082
00:59:57,514 --> 01:00:00,017
I know it's been a tough time, Elaine.
1083
01:00:07,941 --> 01:00:09,026
You should still sell.
1084
01:00:11,445 --> 01:00:12,613
Think you should sell.
1085
01:00:16,533 --> 01:00:18,744
And just fuck the principle
of the whole thing?
1086
01:00:18,827 --> 01:00:20,579
I don't like it any more than you do.
1087
01:00:36,053 --> 01:00:37,513
You really don't think
that he's fucking selling?
1088
01:00:37,596 --> 01:00:38,430
No!
1089
01:00:38,931 --> 01:00:39,765
Ladies.
1090
01:00:41,308 --> 01:00:42,142
Masks.
1091
01:00:45,687 --> 01:00:48,982
Kids are with their father for a few days.
So, I'm going to Florida.
1092
01:00:49,066 --> 01:00:51,818
You finally fucking sold.
HalleĀfuckin-lujah.
1093
01:00:51,902 --> 01:00:53,946
No, I'm putting it on my Visa.
1094
01:00:54,029 --> 01:00:55,030
You shitting me?
1095
01:00:55,113 --> 01:00:57,199
You're worth hundreds of thousands
of dollars in stock,
1096
01:00:57,282 --> 01:00:58,825
and you're amassing credit card debt.
1097
01:00:58,909 --> 01:01:00,827
You really are out of your mind.
1098
01:01:00,911 --> 01:01:04,831
No, babe, I'm all in. Diamond hand.
1099
01:01:04,915 --> 01:01:06,917
Did you know that Gabe Plotkin
gave an interview?
1100
01:01:07,000 --> 01:01:09,461
He's been getting death threats,
anti-Semitic messages
1101
01:01:09,545 --> 01:01:11,797
-from these WSB guys.
-It was ten comments.
1102
01:01:11,880 --> 01:01:14,132
There's always bad apples.
And the moderators deleted it right away.
1103
01:01:14,216 --> 01:01:16,593
You're just gonna ride this thing
till zero?
1104
01:01:16,677 --> 01:01:19,012
No. I'm buying call options.
1105
01:01:19,096 --> 01:01:22,558
-That could go to 600 by tomorrow.
-Your kid is never getting braces.
1106
01:01:30,566 --> 01:01:32,693
There's 8 million people in there
and they're all holding.
1107
01:01:32,776 --> 01:01:34,236
It's only going to go up.
1108
01:01:34,319 --> 01:01:35,779
It's a joke, Marcos.
1109
01:01:35,863 --> 01:01:37,823
But you're treating it
like it's real life.
1110
01:01:38,699 --> 01:01:39,533
Pops.
1111
01:01:41,743 --> 01:01:42,578
Look.
1112
01:01:43,620 --> 01:01:44,538
This is real.
1113
01:01:45,080 --> 01:01:46,039
-Hold it. Look.
-Hey.
1114
01:01:46,123 --> 01:01:46,999
Aw, man.
1115
01:01:48,667 --> 01:01:50,377
8 million people is real.
1116
01:01:50,460 --> 01:01:52,045
H-O-D-L.
1117
01:01:52,754 --> 01:01:56,216
8 million don't even know
how to spell "hold."
1118
01:01:56,300 --> 01:01:57,134
It's a joke.
1119
01:01:57,217 --> 01:01:58,468
A corny joke.
1120
01:01:58,552 --> 01:01:59,469
It's not funny.
1121
01:02:03,682 --> 01:02:04,516
Mom,
1122
01:02:05,851 --> 01:02:06,894
look.
1123
01:02:06,977 --> 01:02:09,521
I got $175,000 in stock right now.
1124
01:02:09,605 --> 01:02:10,689
What?
1125
01:02:10,772 --> 01:02:13,483
Like serious money, like I could get you
a house and get you up out of here,
1126
01:02:13,567 --> 01:02:14,735
kind of money.
1127
01:02:14,818 --> 01:02:15,903
Baby.
1128
01:02:15,986 --> 01:02:18,322
Where did you get the money to buy this?
1129
01:02:19,489 --> 01:02:22,284
I bought call options, for cheap.
1130
01:02:22,367 --> 01:02:23,243
And they hit.
1131
01:02:24,036 --> 01:02:25,370
So now you're gonna sell?
1132
01:02:25,454 --> 01:02:26,788
Nah. No, I buy more.
1133
01:02:27,623 --> 01:02:29,458
At this price!?
1134
01:02:29,541 --> 01:02:31,502
When they hit,
I'm gonna buy you a mansion.
1135
01:02:31,585 --> 01:02:32,586
It's gonna be crazy.
1136
01:02:32,669 --> 01:02:35,380
My son, I don't need a mansion.
1137
01:02:39,051 --> 01:02:40,219
Be careful.
1138
01:02:40,719 --> 01:02:43,096
Don't get addicted to this, my son.
1139
01:02:43,180 --> 01:02:44,806
This can be like a drug.
1140
01:02:50,854 --> 01:02:55,609
Some breaking news right now
on what has turned into the soap opera
1141
01:02:55,692 --> 01:02:59,947
and saga of the markets right now.
And that is the story of GameStop.
1142
01:03:00,030 --> 01:03:02,741
A month ago today, it was trading
at about 20 bucks per share.
1143
01:03:02,824 --> 01:03:04,910
Two days ago, it was under $80.
1144
01:03:04,993 --> 01:03:08,330
Today, nearly $350 a share.
1145
01:03:08,413 --> 01:03:12,376
The GameStop stock frenzy even now
has the attention of the White House.
1146
01:03:12,459 --> 01:03:14,795
...our economic team
including Secretary Yellen and others
1147
01:03:14,878 --> 01:03:17,047
-are monitoring the situation.
-You're witnessing
1148
01:03:17,130 --> 01:03:18,882
the French Revolution of finance.
1149
01:03:18,966 --> 01:03:20,300
There is a rebellion aspect to it.
1150
01:03:20,384 --> 01:03:22,386
There is
an anti-establishment aspect to it.
1151
01:03:22,469 --> 01:03:23,762
I don't know if Wall Street's ever seen it
1152
01:03:23,846 --> 01:03:24,847
-like this before.
-No.
1153
01:03:24,930 --> 01:03:26,181
-We never have.
-It's generational.
1154
01:03:26,265 --> 01:03:27,891
It's like generational injustices.
1155
01:03:27,975 --> 01:03:31,353
This is like,
little poor guys vs. rich guys.
1156
01:03:31,436 --> 01:03:34,231
And poor guys are winning right now.
1157
01:03:34,314 --> 01:03:36,775
Fucking hold! If you're new here
and you're trying to make a profit,
1158
01:03:36,859 --> 01:03:38,610
-fuck off!
-Stop what you're doing, and listen up.
1159
01:03:38,694 --> 01:03:41,029
I own GameStop on Robinhood
and I am not selling.
1160
01:03:41,113 --> 01:03:44,741
Hold. All you need to do is hold.
Keep fucking holding.
1161
01:03:44,825 --> 01:03:48,453
Soon the Tendieman comes to send
our rocket to the sun.
1162
01:03:48,537 --> 01:03:51,707
See this right here is the human being
who's largely responsible
1163
01:03:51,790 --> 01:03:53,584
for all this GameStop stuff.
1164
01:03:53,667 --> 01:03:59,965
Just a pure specimen.
A God-like undefeatable creature.
1165
01:04:00,048 --> 01:04:03,594
This is what excellence looks like.
1166
01:04:03,677 --> 01:04:05,929
-I just like the stock.
-Yesterday he posted this,
1167
01:04:06,013 --> 01:04:08,348
that he's in profit, wait for it...
1168
01:04:09,349 --> 01:04:11,894
47 million.
1169
01:04:13,228 --> 01:04:14,938
What the fuck is happening?
1170
01:04:15,689 --> 01:04:17,107
What the fuck?
1171
01:04:19,234 --> 01:04:20,652
Hey, did you try a different browser?
1172
01:04:20,736 --> 01:04:22,988
-I plugged the browser.
-Shit, we're fucked.
1173
01:04:24,156 --> 01:04:25,324
Bro, what the fuck?
1174
01:04:25,407 --> 01:04:27,451
-What the fuck, dude?
-I told you this shit is rigged.
1175
01:04:28,869 --> 01:04:29,995
What the fuck is going on?
1176
01:04:32,539 --> 01:04:33,749
I can't get it to load.
1177
01:04:40,214 --> 01:04:41,131
Fuck!
1178
01:04:45,427 --> 01:04:46,261
What?
1179
01:04:49,431 --> 01:04:51,225
They shut down Wall Street Bets.
1180
01:04:51,725 --> 01:04:54,728
-What?
-"Hateful and discriminatory content."
1181
01:04:54,811 --> 01:04:56,438
That stuff has always been on there.
1182
01:05:01,944 --> 01:05:03,278
That's weird.
1183
01:05:03,362 --> 01:05:04,279
No?
1184
01:05:05,322 --> 01:05:08,659
I mean, it's like they're trying
to stop people from talking to each other.
1185
01:05:15,999 --> 01:05:17,167
Babe, are you gonna get that?
1186
01:05:17,251 --> 01:05:18,085
Yes.
1187
01:05:21,129 --> 01:05:21,964
Hello?
1188
01:05:23,632 --> 01:05:26,593
Ah, yes, I am...
1189
01:05:27,094 --> 01:05:30,347
I am the Roaring Kitty
and Deep F-ing Value.
1190
01:05:32,140 --> 01:05:35,561
Ah no, but nobody ever asked me.
1191
01:05:37,646 --> 01:05:38,981
Oh, okay.
1192
01:05:39,064 --> 01:05:41,775
Sir, I just want to say
how grateful I am for this job
1193
01:05:41,859 --> 01:05:43,694
and how much it means
to me and my family.
1194
01:05:43,777 --> 01:05:46,113
I would never let a hobby jeopardize...
1195
01:05:47,823 --> 01:05:49,783
Okay. I understand.
1196
01:05:55,747 --> 01:05:58,208
-Yeah?
-It's MassMutual. They're...
1197
01:05:58,292 --> 01:06:01,628
getting calls from reporters "concerned"
about my "outside activities."
1198
01:06:01,712 --> 01:06:03,505
Was all this against the rules?
1199
01:06:03,589 --> 01:06:06,425
I wasn't...? Maybe now it is...
1200
01:06:06,508 --> 01:06:07,342
Okay.
1201
01:06:10,387 --> 01:06:11,930
Well, what was that call?
1202
01:06:13,557 --> 01:06:15,017
-Keith?
-It's okay.
1203
01:06:15,100 --> 01:06:16,226
What, are you going to lose your job?
1204
01:06:16,310 --> 01:06:17,144
-What?
-It's fine.
1205
01:06:18,270 --> 01:06:20,105
-They gave me a choice.
-Between what?
1206
01:06:20,189 --> 01:06:21,899
Between your job and Roaring Kitty?
1207
01:06:23,901 --> 01:06:25,736
Resign or I'm fired.
1208
01:06:25,819 --> 01:06:26,695
That's what he just said?
1209
01:06:28,071 --> 01:06:28,906
I got it.
1210
01:06:31,158 --> 01:06:32,534
Fuck it, Wall Street Bets is down,
I can't see
1211
01:06:32,618 --> 01:06:34,161
-Roaring Kitty's balance sheet.
-Oh fuck.
1212
01:06:34,244 --> 01:06:35,412
I don't know what to do.
1213
01:06:35,913 --> 01:06:36,997
This could be the sell-off.
1214
01:06:37,080 --> 01:06:39,041
I really don't wanna do that.
1215
01:06:39,124 --> 01:06:42,211
Well, me neither.
But you can't let it go to zero.
1216
01:06:43,086 --> 01:06:45,422
It's 150 grand. You need that money.
1217
01:06:45,506 --> 01:06:47,883
And nobody is gonna hold
if they can't see what he's doing.
1218
01:06:50,594 --> 01:06:52,054
Close your eyes and count to three.
1219
01:06:52,763 --> 01:06:53,597
One.
1220
01:06:55,599 --> 01:06:56,517
-Two.
-Two.
1221
01:06:57,726 --> 01:06:58,852
-Three.
-Three.
1222
01:07:03,607 --> 01:07:04,441
Your phone's ringing.
1223
01:07:04,525 --> 01:07:06,652
This is the sound of the world.
1224
01:07:06,735 --> 01:07:08,362
Your phone is ringing!
1225
01:07:08,445 --> 01:07:12,491
Oh, Robinhood. Yeah. It's an app.
1226
01:07:13,075 --> 01:07:14,368
It's on the phone.
1227
01:07:14,451 --> 01:07:16,745
-Yeah, no, your phone is ringing.
-Oh.
1228
01:07:17,788 --> 01:07:18,872
Yes.
1229
01:07:18,956 --> 01:07:20,082
Yes...
1230
01:07:23,043 --> 01:07:24,878
Slow down, Norm, what did you say?
1231
01:07:25,379 --> 01:07:29,800
The NSCC just sent us a file,
they want a deposit of 3 billion
1232
01:07:29,883 --> 01:07:31,510
to clear all the trades coming in.
1233
01:07:32,219 --> 01:07:33,512
Sorry.
1234
01:07:33,595 --> 01:07:34,596
Wait, who?
1235
01:07:34,680 --> 01:07:40,143
They're a subsidiary of the DTCC.
And they're requesting 3 billion.
1236
01:07:40,227 --> 01:07:45,107
Ah... Okay. Sorry, it's a little loud in
here. I thought you just said 3 billion.
1237
01:07:45,607 --> 01:07:46,650
I did!
1238
01:07:47,943 --> 01:07:50,654
-But we don't have 3 billion, Norm.
-That's correct.
1239
01:07:50,737 --> 01:07:53,699
We've only ever raised 2 billion
in the history of the company.
1240
01:07:54,575 --> 01:07:56,535
Holy fuck! What if we don't pay?
1241
01:07:56,618 --> 01:07:57,995
They shut us down.
1242
01:07:58,954 --> 01:08:01,957
The IPO, like, everything... poof.
1243
01:08:02,040 --> 01:08:04,835
Gretchen, Dan and I are going to
jump on a call with Citadel at 9.
1244
01:08:08,672 --> 01:08:11,717
Maybe this would be a good time for me
to chat with Ken Griffin.
1245
01:08:11,800 --> 01:08:14,428
Sure. We'll mention that.
1246
01:08:16,013 --> 01:08:17,305
I can't sleep.
1247
01:08:17,389 --> 01:08:18,348
Me neither.
1248
01:08:18,849 --> 01:08:20,142
I just feel sick!
1249
01:08:21,143 --> 01:08:22,728
We'll buy it back first thing.
1250
01:08:24,563 --> 01:08:25,981
Please shut up.
1251
01:08:40,828 --> 01:08:42,288
What the fuck.
1252
01:08:45,375 --> 01:08:46,502
Oh! What the fuck!
1253
01:08:47,544 --> 01:08:49,630
-What the fuck!
-Okay, let me try.
1254
01:08:50,714 --> 01:08:52,090
Is it frozen?
1255
01:08:57,345 --> 01:08:59,139
They cut off the buy option.
1256
01:08:59,848 --> 01:09:01,390
What?! That's fucking criminal.
1257
01:09:01,475 --> 01:09:02,684
I can't hear you, Baiju!
1258
01:09:02,768 --> 01:09:04,019
What the fuck did you do?
1259
01:09:04,102 --> 01:09:05,770
-Calm down.
-Me calm down?
1260
01:09:05,854 --> 01:09:07,356
You shut down trading on GameStop?
1261
01:09:07,439 --> 01:09:08,524
Not all trading.
1262
01:09:08,607 --> 01:09:09,691
Norm worked it out.
1263
01:09:09,774 --> 01:09:13,237
The DTCC agreed to lower the deposit
to 700 million
1264
01:09:13,319 --> 01:09:15,404
if we shut off buying,
and that's what I did.
1265
01:09:15,488 --> 01:09:17,448
The Depository Trade Commission?
1266
01:09:17,533 --> 01:09:19,701
They're like one degree away
from Ken Griffin.
1267
01:09:19,785 --> 01:09:20,953
One more time, Baiju.
1268
01:09:21,995 --> 01:09:22,912
...butt boys!
1269
01:09:24,915 --> 01:09:27,042
-What?
-It's not going to be okay.
1270
01:09:27,125 --> 01:09:28,292
You need to fix this...
1271
01:09:28,377 --> 01:09:29,920
I know, it's okay.
1272
01:09:30,796 --> 01:09:32,214
I did fix it, Baiju.
1273
01:09:34,424 --> 01:09:37,135
We've been watching shares of
GameStop all day long
1274
01:09:37,219 --> 01:09:40,805
after hitting a staggering high of $483.
1275
01:09:40,889 --> 01:09:43,767
The shares are now down to about 140.
1276
01:09:43,850 --> 01:09:46,728
Now, the best we can tell is
the Robinhood app
1277
01:09:46,812 --> 01:09:51,358
that seems to have triggered what really
has become a panic sell-off in this name.
1278
01:09:51,441 --> 01:09:55,988
And so if you're a retail investor
or a Reddit user and you've held,
1279
01:09:56,071 --> 01:09:59,116
well, you are feeling some serious pain
right now.
1280
01:09:59,950 --> 01:10:01,118
Oh God.
1281
01:10:02,578 --> 01:10:04,997
-Fuck.
-Now the criticism centered on Robinhood
1282
01:10:05,080 --> 01:10:09,334
for abandoning their followers here
in favor of helping those who had shorted
1283
01:10:09,418 --> 01:10:12,337
-all these stocks in the first place.
-I don't particularly like the move
1284
01:10:12,421 --> 01:10:13,255
on Robinhood today.
1285
01:10:13,338 --> 01:10:15,132
I'm talking to people this morning
that say,
1286
01:10:15,215 --> 01:10:17,009
"Okay, that is anti-capitalism.
1287
01:10:17,092 --> 01:10:18,510
-You can't do that."
-Fuck you, Robinhood!
1288
01:10:18,594 --> 01:10:23,223
There's been some controversy
about Citadel and some vague accusations
1289
01:10:23,307 --> 01:10:26,393
that somehow Citadel may have been
involved in Robinhood's decision, Wolf,
1290
01:10:26,476 --> 01:10:29,855
to stop or restrict trading
in GameStop and other shorts...
1291
01:10:29,938 --> 01:10:30,898
Who is it from?
1292
01:10:30,981 --> 01:10:33,692
The Tendieman...?
1293
01:10:35,569 --> 01:10:36,486
Come back inside.
1294
01:10:36,570 --> 01:10:38,030
Diamond fucking hands!
1295
01:10:40,199 --> 01:10:42,618
We all know how I feel about him.
1296
01:10:42,701 --> 01:10:44,369
I think he's a rat, a liar.
1297
01:10:44,453 --> 01:10:49,208
Okay, Vlad, you know everybody here
who's watching us hates your guts, right?
1298
01:10:50,209 --> 01:10:53,712
Thank you, Dave, that's... what I hear.
1299
01:10:53,795 --> 01:10:57,633
But I'm a really big fan of your show
and hopefully I can answer
1300
01:10:57,716 --> 01:10:59,718
-some of your questions.
-Vlad, can you hear us?
1301
01:10:59,801 --> 01:11:02,763
-Vlad the stock impaler.
-Yes, I'm here... Hi.
1302
01:11:02,846 --> 01:11:04,890
Spill the beans, man,
what happened last week?
1303
01:11:04,973 --> 01:11:07,684
Why couldn't people buy GameStop shares?
1304
01:11:07,768 --> 01:11:09,603
The people demand an answer.
1305
01:11:09,686 --> 01:11:13,148
To give you some background,
I'm chief executive of Robinhood...
1306
01:11:13,232 --> 01:11:14,483
-Robbing executive.
-Yeah, we know that.
1307
01:11:14,566 --> 01:11:16,151
And I just want to say,
1308
01:11:16,235 --> 01:11:18,820
-we had no liquidity problem.
-Well, did something maybe shady
1309
01:11:18,904 --> 01:11:20,656
go down here?
Seems weird that you'd get a sudden
1310
01:11:20,739 --> 01:11:22,783
-10 billion dollar demand... You know.
-Three, 3 billion...
1311
01:11:22,866 --> 01:11:24,993
-Okay, but 3 billion just suddenly,
-Yeah.
1312
01:11:25,077 --> 01:11:27,079
-out of nowhere and...
-Well, I wouldn't impute
1313
01:11:27,162 --> 01:11:30,207
any shadiness to any of this...
1314
01:11:30,290 --> 01:11:34,920
I don't have the full context as to what
was going on with the NSCC to,
1315
01:11:35,003 --> 01:11:37,965
to make these calculations.
1316
01:11:38,048 --> 01:11:40,425
To what degree are you beholden
to Citadel?
1317
01:11:40,509 --> 01:11:43,679
I mean, like, basically,
if Citadel is unhappy, then what happens?
1318
01:11:43,762 --> 01:11:46,849
-It was a hard temperance.
-Is anyone holding you hostage right now?
1319
01:11:46,932 --> 01:11:48,267
-No.
-There's just
1320
01:11:48,350 --> 01:11:51,562
no rational explanation on
why they would do what they did
1321
01:11:51,645 --> 01:11:54,273
without outside pressure, interference.
1322
01:11:54,356 --> 01:11:56,942
And they basically cratered the stock
on purpose.
1323
01:11:57,025 --> 01:11:59,987
So, I just don't believe
anything that guy says.
1324
01:12:00,070 --> 01:12:02,364
I wanted to take a cold shower
after seeing him say that.
1325
01:12:02,447 --> 01:12:05,033
Robinhood is facing lawsuits,
we know that.
1326
01:12:05,117 --> 01:12:07,411
After halting trade, they are accused
1327
01:12:07,494 --> 01:12:09,580
-of rigging the market.
-When the big guys,
1328
01:12:09,663 --> 01:12:12,833
including one of your main investors
in your company started to lose,
1329
01:12:12,916 --> 01:12:15,502
you shut down the game
to starve the little guy.
1330
01:12:15,586 --> 01:12:18,505
They're stealing from the poor
and giving back to the rich.
1331
01:12:18,589 --> 01:12:21,884
They're robbing from the 'hood! Why?
1332
01:12:21,967 --> 01:12:24,928
-I want to be 100% clear,
-All of you guys deserve to burn in hell.
1333
01:12:25,012 --> 01:12:26,305
-this decision to...
-And go to jail.
1334
01:12:26,388 --> 01:12:27,431
restrict trade was not made
on the direction
1335
01:12:27,514 --> 01:12:28,682
I'm just trying to get my mom
out the 'hood.
1336
01:12:28,765 --> 01:12:31,476
-of Citadel or any market maker.
-What the fuck? Fuck you!
1337
01:12:31,560 --> 01:12:32,895
And your Mama Dukes,
you motherfucking fraud.
1338
01:12:32,978 --> 01:12:33,812
Fuck this guy.
1339
01:12:34,688 --> 01:12:37,191
This guy is just
an obfuscating piece of shit.
1340
01:12:37,274 --> 01:12:38,483
Fucker.
1341
01:12:38,567 --> 01:12:40,819
There's only one man
I wanna hear from right now.
1342
01:12:40,903 --> 01:12:43,447
And Wall Street Bets is down,
so it's crickets.
1343
01:12:43,530 --> 01:12:45,032
It's crickets out here.
1344
01:12:45,908 --> 01:12:47,034
Say it with me.
1345
01:12:47,534 --> 01:12:49,536
-Where my pussy at!
-Where my pussy at!
1346
01:12:50,245 --> 01:12:51,788
-Mr. Gill!
-Mr. Gill!
1347
01:12:52,581 --> 01:12:56,418
-Roaring Kitty, I fucking love you!
-Keith Gill!
1348
01:12:56,502 --> 01:12:58,170
-Keith Gill, please!
-Okay.
1349
01:12:58,253 --> 01:13:01,298
-Please.
-Oh, sorry, this is, like, my house...
1350
01:13:01,381 --> 01:13:02,883
-You want my autograph?
-Yeah.
1351
01:13:03,800 --> 01:13:04,676
You've been served.
1352
01:13:07,763 --> 01:13:10,599
Hey, to the moon, baby! To the moon.
1353
01:13:10,682 --> 01:13:11,808
Holy shit.
1354
01:13:16,730 --> 01:13:20,567
Sorry to interrupt. We need to talk
about the GameStop situation.
1355
01:13:20,651 --> 01:13:21,693
I thought Mecane was handling it.
1356
01:13:21,777 --> 01:13:24,780
So did we. But the committee's
specifically requested you, sir.
1357
01:13:24,863 --> 01:13:26,990
If they want specifics,
they can have Mecane.
1358
01:13:27,699 --> 01:13:29,618
It's not a choice, unfortunately.
1359
01:13:33,830 --> 01:13:35,082
Shitballs.
1360
01:13:37,960 --> 01:13:38,794
Keith?
1361
01:13:40,379 --> 01:13:43,465
-A congressional subpoena.
-I never did anything illegal.
1362
01:13:43,549 --> 01:13:44,925
And I always had disclaimers...
1363
01:13:45,592 --> 01:13:47,219
Why would you have disclaimers
if you weren't worried?
1364
01:13:48,345 --> 01:13:50,764
They're standard practice, Caroline,
everyone has them.
1365
01:13:55,769 --> 01:13:56,603
Babe...
1366
01:14:00,148 --> 01:14:02,693
-the answer is not in your computer.
-Whoa!
1367
01:14:03,318 --> 01:14:07,281
There's a dozen reporters on our lawn!
You have to testify before Congress.
1368
01:14:07,948 --> 01:14:10,701
-The game has changed.
-I know. I hear you.
1369
01:14:10,784 --> 01:14:12,119
I don't think you do.
1370
01:14:17,666 --> 01:14:19,084
Oh, my God. We're...
1371
01:14:20,627 --> 01:14:21,962
We're gonna go to my mother's.
1372
01:14:22,045 --> 01:14:24,131
No, she has terrible Wi-Fi.
1373
01:14:24,214 --> 01:14:26,175
I'm not talking about you.
1374
01:14:26,258 --> 01:14:28,051
I'm talking about me and her.
1375
01:14:28,802 --> 01:14:30,345
You need to figure this out.
1376
01:14:43,525 --> 01:14:45,402
-Where are you going?
-To the track.
1377
01:14:45,485 --> 01:14:47,613
-You were just on the track.
-I'm going again.
1378
01:14:58,248 --> 01:15:00,667
Hi. Can I interest you in
some champagne or a mimosa?
1379
01:15:00,751 --> 01:15:02,961
-Is it free?
-It is when you sit up here.
1380
01:15:03,045 --> 01:15:04,963
Well, there is a last time for everything.
1381
01:15:05,047 --> 01:15:06,465
Oh, you'll be back.
1382
01:15:06,548 --> 01:15:10,719
I had half a million in stocks last week,
but Wall Street cheated.
1383
01:15:11,220 --> 01:15:12,387
Surprise, surprise.
1384
01:15:14,181 --> 01:15:15,432
I could have cashed out.
1385
01:15:16,558 --> 01:15:18,352
I could have paid my mortgage.
1386
01:15:18,435 --> 01:15:20,062
Could have gotten my kid braces.
1387
01:15:20,145 --> 01:15:20,979
Got a new car.
1388
01:15:21,063 --> 01:15:22,689
Honey, I'm gonna get you
something stronger.
1389
01:15:22,773 --> 01:15:24,191
-Thank you.
-You're welcome.
1390
01:15:30,322 --> 01:15:31,448
Meow!
1391
01:15:31,532 --> 01:15:32,574
Kitty!
1392
01:15:32,658 --> 01:15:35,285
You know you can't just eat other people's
food. They do reviews, right?
1393
01:15:35,369 --> 01:15:36,328
Very funny.
1394
01:15:36,411 --> 01:15:37,246
Here.
1395
01:15:37,829 --> 01:15:39,122
What's this?
1396
01:15:39,206 --> 01:15:40,541
Look, they were on sale, all right,
1397
01:15:40,624 --> 01:15:43,627
-before you get all emotional and shit.
-Holy shit, you fucking softy.
1398
01:15:43,710 --> 01:15:45,838
Who put you up to this? Caro? Ma?
1399
01:15:45,921 --> 01:15:48,298
No, Dad called me in tears,
said my big brother needed
1400
01:15:48,382 --> 01:15:50,551
-some moral support.
-Ah, fuck off.
1401
01:15:51,218 --> 01:15:52,761
-I can't.
-C'mon, man. Will you at least try 'em on?
1402
01:15:52,845 --> 01:15:54,012
Please?
1403
01:15:54,096 --> 01:15:56,056
Try 'em. C'mon,
you're the richest man in Brockton,
1404
01:15:56,139 --> 01:15:58,642
-you dress like an asshole.
-I lost 15 million yesterday.
1405
01:15:58,725 --> 01:16:01,603
-And another 15 the day before that.
-You're still the richest man in Brockton,
1406
01:16:01,687 --> 01:16:02,980
like, by far.
1407
01:16:03,647 --> 01:16:07,484
Bro, you got rich dudes
pissing in their pants right now.
1408
01:16:07,568 --> 01:16:10,279
I mean, c'mon, man, how many people
from Brockton High can say that?
1409
01:16:10,362 --> 01:16:11,446
This has gone crazy,
1410
01:16:11,530 --> 01:16:14,283
I got reporters hounding me
outside my house.
1411
01:16:14,366 --> 01:16:16,410
Yeah, man, me too.
They're coming after you.
1412
01:16:17,995 --> 01:16:19,705
You didn't talk to them, did you?
1413
01:16:19,788 --> 01:16:23,041
What do I look like? I said no.
I said give me 50 grand maybe.
1414
01:16:23,125 --> 01:16:24,126
Tell me you're kidding.
1415
01:16:24,209 --> 01:16:26,795
Well, if you give me 20, then maybe
we wouldn't have to deal with this shit.
1416
01:16:26,879 --> 01:16:27,838
The fuck is wrong with you!?
1417
01:16:27,921 --> 01:16:31,258
Kevin, I've just been subpoenaed
by Congress, man.
1418
01:16:31,341 --> 01:16:32,926
I do not have time for your bullshit.
1419
01:16:33,010 --> 01:16:35,470
-Oh, come off it, man!
-Seriously, asshole.
1420
01:16:35,554 --> 01:16:37,431
-Chill! It was a joke!
-Fuck!
1421
01:16:45,355 --> 01:16:46,190
I know.
1422
01:16:47,024 --> 01:16:47,900
Sorry.
1423
01:16:54,990 --> 01:16:57,159
We never used to fight this much.
1424
01:17:00,078 --> 01:17:02,039
-Sara.
-I miss her.
1425
01:17:02,664 --> 01:17:03,540
Me too.
1426
01:17:04,124 --> 01:17:05,542
She kept your ego in check.
1427
01:17:06,210 --> 01:17:08,378
Whole fuckin' world kept my ego in check.
1428
01:17:09,463 --> 01:17:12,090
What the fuck are you gonna tell
Congress, Keith? Huh?
1429
01:17:13,217 --> 01:17:15,260
Beg them not to send me to prison?
1430
01:17:17,513 --> 01:17:18,347
Hey...
1431
01:17:19,097 --> 01:17:23,227
Hey, do you remember back at Stonehill
when they dared me to run that mile naked?
1432
01:17:23,727 --> 01:17:25,437
Yeah, there was a crazy storm that night.
1433
01:17:25,521 --> 01:17:27,147
-You dumb shit.
-Fuck you, man.
1434
01:17:27,231 --> 01:17:29,566
That was dope, man.
I'm a legend over there.
1435
01:17:29,650 --> 01:17:30,817
Everybody remembers that!
1436
01:17:30,901 --> 01:17:31,944
-Okay.
-They do, man.
1437
01:17:32,027 --> 01:17:33,987
You don't think people remember
your 4-minute 3-second mile?
1438
01:17:34,071 --> 01:17:35,948
Oh... what is this, a pep talk?
1439
01:17:36,031 --> 01:17:37,449
Motherfucker, stop hiding.
1440
01:17:37,533 --> 01:17:40,994
Seriously. Okay, stop being all meek
and shit and running away.
1441
01:17:41,828 --> 01:17:44,373
What, you want me to run through
lightning with my dick out?
1442
01:17:44,456 --> 01:17:45,374
Yeah.
1443
01:17:45,457 --> 01:17:47,543
Please, exactly that.
1444
01:17:48,252 --> 01:17:50,546
Run through lightning with your dick out.
Fuck it.
1445
01:17:58,762 --> 01:18:00,222
You didn't go to your mom's?
1446
01:18:02,140 --> 01:18:03,350
You took the car.
1447
01:18:05,102 --> 01:18:07,187
How was the run? Did it clear your head?
1448
01:18:07,980 --> 01:18:09,523
Kev found me, brought me these.
1449
01:18:10,774 --> 01:18:12,025
You guys talked?
1450
01:18:12,526 --> 01:18:15,279
Yup, he told me to run naked.
1451
01:18:15,779 --> 01:18:17,364
-You ran naked?
-No.
1452
01:18:18,031 --> 01:18:21,535
It's a metaphor. He's saying
I gotta take this thing head on.
1453
01:18:22,619 --> 01:18:23,453
Well...
1454
01:18:29,042 --> 01:18:30,627
I'd kinda like to see you run naked.
1455
01:18:34,339 --> 01:18:36,925
By the way, Wall Street Bets is back up.
1456
01:18:38,552 --> 01:18:39,928
The motherfucker held.
1457
01:18:40,679 --> 01:18:45,058
Holy shit! He lost 30 million,
and he still fucking held.
1458
01:18:48,437 --> 01:18:50,147
-Robinhood's back up.
-What?
1459
01:18:50,939 --> 01:18:53,358
-We gotta get back in.
-Where's the stock at right now?
1460
01:18:54,109 --> 01:18:55,110
109.
1461
01:18:55,611 --> 01:18:56,653
Are you sure?
1462
01:18:57,154 --> 01:18:59,907
That's like all of the money
that we made back into the stock.
1463
01:19:03,785 --> 01:19:06,288
Yeah. We can't let them
get away with this.
1464
01:19:08,373 --> 01:19:09,208
Fuck 'em.
1465
01:19:09,791 --> 01:19:11,001
If he's in, I'm in.
1466
01:19:11,877 --> 01:19:13,086
If he's in, I'm in.
1467
01:19:16,590 --> 01:19:17,591
Okay.
1468
01:19:19,259 --> 01:19:20,219
Fuck!
1469
01:19:26,266 --> 01:19:30,896
The frenzy continues with retail investors
bidding back up GameStop.
1470
01:19:30,979 --> 01:19:33,023
-Meme stock mania is back.
-...up more than 80%
1471
01:19:33,106 --> 01:19:35,609
as those message board traders
simply sent it higher.
1472
01:19:35,692 --> 01:19:37,277
Stock volatility continuing,
1473
01:19:37,361 --> 01:19:40,155
it looks like this morning once again
GameStop are involved in
1474
01:19:40,239 --> 01:19:43,575
an ongoing battle between
retail investors and short sellers.
1475
01:19:43,659 --> 01:19:45,118
We're gonna have a lot more
on this story.
1476
01:19:45,202 --> 01:19:46,495
CEOs of Robinhood, Reddit, Citadel
1477
01:19:46,578 --> 01:19:48,205
and Melvin Capital.
1478
01:19:48,288 --> 01:19:51,625
Along with Keith Gill,
better known as Roaring Kitty
1479
01:19:51,708 --> 01:19:55,003
on social media, will be in the hot seat.
1480
01:19:59,466 --> 01:20:02,553
I'm here testifying today far removed
from my background.
1481
01:20:02,636 --> 01:20:05,639
I grew up in a middle-class family
in Portland, Maine.
1482
01:20:05,722 --> 01:20:07,307
My dad was a grocery store executive.
1483
01:20:07,391 --> 01:20:08,767
Maybe leave that part out.
1484
01:20:10,102 --> 01:20:11,186
The part about my dad?
1485
01:20:11,270 --> 01:20:12,312
The executive part.
1486
01:20:12,396 --> 01:20:13,897
Okay... okay.
1487
01:20:17,234 --> 01:20:21,697
I went to a public high school.
I studied hard and got into Northwestern.
1488
01:20:21,780 --> 01:20:23,782
-Just say "a good college."
-Upon...
1489
01:20:23,866 --> 01:20:25,367
I can't say I went to Northwestern?
1490
01:20:25,450 --> 01:20:27,244
-Too elite.
-Northwestern's too...
1491
01:20:27,911 --> 01:20:28,745
All right.
1492
01:20:32,749 --> 01:20:37,337
Upon graduation, I did not have a job.
Today, I'm married with four children.
1493
01:20:37,421 --> 01:20:39,590
Gabe, where do you plan on
doing your testimony?
1494
01:20:41,967 --> 01:20:44,720
-Here.
-In front of your wine collection?
1495
01:20:46,763 --> 01:20:49,933
I mean, this is... I don't have that big
of a wine collection honestly.
1496
01:20:50,017 --> 01:20:50,976
Yeah, it's huge.
1497
01:20:51,059 --> 01:20:52,895
Digital risks seem to be overblown.
1498
01:20:52,978 --> 01:20:55,397
Two, the negative sentiment is overdone.
1499
01:20:55,480 --> 01:20:59,193
-Three, the value...
-Maybe... here would be nice.
1500
01:21:02,487 --> 01:21:04,489
-Too many windows.
-Too many windows... Oh.
1501
01:21:04,573 --> 01:21:05,657
It's very bright.
1502
01:21:05,741 --> 01:21:08,827
-Yeah, ocean front's not a great idea.
-It's blue.
1503
01:21:08,911 --> 01:21:11,371
Yeah. Okay, I hadn't thought of that.
That...
1504
01:21:11,455 --> 01:21:12,956
Yeah, downstairs there's more...
1505
01:21:13,040 --> 01:21:14,208
-there's probably darker rooms.
-What a bandit.
1506
01:21:14,291 --> 01:21:17,294
Most of you know this guy,
who is the Roaring Kitty character,
1507
01:21:17,377 --> 01:21:18,754
-who was really pushing it.
-Holy shit.
1508
01:21:18,837 --> 01:21:20,797
-You know, voicing the information.
-Yo, Riri, our boy's on the news.
1509
01:21:20,881 --> 01:21:22,716
And what's the potentially systemic risk?
1510
01:21:22,799 --> 01:21:25,052
Those relationships in D.C. are strong.
1511
01:21:25,135 --> 01:21:29,181
The guys who run those hedge funds are
the guys who fund presidential campaigns.
1512
01:21:29,264 --> 01:21:31,141
-You know Roaring Kitties don't have
-That's a good point.
1513
01:21:31,225 --> 01:21:32,559
-that kind of influence,
-Gill is now being sued
1514
01:21:32,643 --> 01:21:33,644
-but the hedge fund managers do.
-for securities fraud
1515
01:21:33,727 --> 01:21:35,979
over his alleged role
in the GameStop rally.
1516
01:21:36,063 --> 01:21:38,857
Is Mr. Gill likely to appear,
and if he appears,
1517
01:21:38,941 --> 01:21:43,028
is he likely to talk
if he faces the potential of prosecution?
1518
01:21:43,111 --> 01:21:48,033
Fundamentals are based on three things:
One, digital risks are overblown.
1519
01:21:48,116 --> 01:21:49,952
Two, the negative sentiment is overdone.
1520
01:21:50,035 --> 01:21:51,161
And three...
1521
01:21:54,873 --> 01:21:55,707
Fuck.
1522
01:21:55,791 --> 01:21:57,918
-Ah, c'mon, shut up.
-I know all this.
1523
01:21:59,419 --> 01:22:01,839
You guys, you guys, stop.
Stop, let's keep going.
1524
01:22:01,922 --> 01:22:03,841
-All right, let's go again.
-You're right, this is serious.
1525
01:22:03,924 --> 01:22:05,300
You can go to jail forever.
1526
01:22:05,384 --> 01:22:06,927
-A long time. Long, long time.
-All right. You ready?
1527
01:22:07,010 --> 01:22:08,887
You ready here we go. Back in the game.
1528
01:22:08,971 --> 01:22:11,473
Mr. Gill. Mr. Gill,
may I call you Mr. Gill, sir?
1529
01:22:11,557 --> 01:22:13,600
-It's my name.
-Why the fuck wouldn't you be able
1530
01:22:13,684 --> 01:22:14,935
-to call him Mr. Gill?
-What were your intentions
1531
01:22:15,018 --> 01:22:18,146
with the YouTube videos
and your social media posts on GameStop?
1532
01:22:18,230 --> 01:22:19,731
-Yes.
-Thank you, congresswoman.
1533
01:22:19,815 --> 01:22:20,649
You're welcome.
1534
01:22:20,732 --> 01:22:23,235
I developed a theory
that the company was undervalued
1535
01:22:23,318 --> 01:22:25,153
despite the significant short interest.
1536
01:22:25,237 --> 01:22:27,155
Oh, so you were aware
of the short interest.
1537
01:22:27,239 --> 01:22:28,532
It is public knowledge.
1538
01:22:28,615 --> 01:22:29,741
You can see it in the SEC filings.
1539
01:22:29,825 --> 01:22:31,493
And your goal was
to break these shorts, yes?
1540
01:22:31,577 --> 01:22:35,706
To rally an online mob to artificially
push the price of GameStop soaring,
1541
01:22:35,789 --> 01:22:39,084
ah, "to the moon" as they say,
isn't that correct, Mr. Gill?
1542
01:22:39,168 --> 01:22:40,252
Objection, objection,
1543
01:22:40,335 --> 01:22:41,378
-you're leading the witness.
-Kev...
1544
01:22:41,461 --> 01:22:43,547
-Witness.
-I yield my time to the chair.
1545
01:22:43,630 --> 01:22:45,174
You were hoping for the short squeeze,
1546
01:22:45,257 --> 01:22:46,967
-weren't you, Mr. Gill?
-You short squeezing bastard.
1547
01:22:47,050 --> 01:22:48,719
The short squeeze was a marginal
1548
01:22:48,802 --> 01:22:50,220
-point of the thesis.
-Then why did you talk about it
1549
01:22:50,304 --> 01:22:51,889
-in your videos all the time?
-You did talk about it in your videos.
1550
01:22:51,972 --> 01:22:53,056
You talked about it a lot.
1551
01:22:53,140 --> 01:22:54,600
-You remember about the squeeze.
-Exactly.
1552
01:22:54,683 --> 01:22:55,809
You were like
"It's just a little squeeze."
1553
01:22:55,893 --> 01:22:56,810
Exactly.
1554
01:22:56,894 --> 01:22:59,354
Are you really asking us to believe
that you weren't a leader
1555
01:22:59,438 --> 01:23:01,565
-to all these retail traders?
-You're fucked, buddy.
1556
01:23:01,648 --> 01:23:03,734
-My point of view...
-Asking. Yes or no?
1557
01:23:03,817 --> 01:23:05,235
-Yes or no?
-Yes. So yes.
1558
01:23:05,319 --> 01:23:06,445
-Yes or no?
-You are admitting it. Yes.
1559
01:23:06,528 --> 01:23:07,863
Remember you with a cheap bottle
of champagne.
1560
01:23:07,946 --> 01:23:09,072
At any moment... Kevin!
1561
01:23:09,156 --> 01:23:10,115
-Kevin!
-Dunking tendies like a fucking--
1562
01:23:10,199 --> 01:23:11,033
What?
1563
01:23:12,326 --> 01:23:14,703
I'm running with my dick out.
1564
01:23:15,787 --> 01:23:17,164
Okay, why don't you just say that?
1565
01:23:17,247 --> 01:23:18,540
Okay, I'll stop.
1566
01:23:19,333 --> 01:23:24,213
All right. Mr. Gill, what exactly
about the fundamentals
1567
01:23:24,296 --> 01:23:27,508
-led you to build this bull case?
-What the fuck's with the voice?
1568
01:23:27,591 --> 01:23:29,843
I don't know, I was trying to do AOC,
but it was flat.
1569
01:23:29,927 --> 01:23:31,136
I don't even think she's on the panel.
1570
01:23:31,220 --> 01:23:32,346
You shut the fuck up, Briggsy.
1571
01:23:32,429 --> 01:23:33,722
-I'll slap the shit out of you.
-Is she on that panel?
1572
01:23:33,805 --> 01:23:34,640
-I swear to God.
-You're gonna slap me?
1573
01:23:34,723 --> 01:23:36,016
-Yeah, let's go.
-You ready to go?
1574
01:23:36,099 --> 01:23:38,644
-Let's go.
-I've been waiting for this, dog.
1575
01:23:56,119 --> 01:23:56,954
Come here.
1576
01:24:05,712 --> 01:24:07,673
You're gonna be great.
1577
01:24:08,924 --> 01:24:11,635
If it goes bad, it's gonna be real bad.
1578
01:24:11,718 --> 01:24:13,428
Well, don't let it go bad.
1579
01:24:13,512 --> 01:24:17,683
This hearing will be first in a series
of hearings by the committee
1580
01:24:17,766 --> 01:24:22,771
to examine the recent market volatility
involving GameStop.
1581
01:24:22,855 --> 01:24:27,359
I want to know how each
of the witnesses here today
1582
01:24:27,442 --> 01:24:29,528
-contributed to the historic...
-Gabe, can you sit up?
1583
01:24:29,611 --> 01:24:32,698
trading events in January.
1584
01:24:33,240 --> 01:24:35,492
This recent market volatility
1585
01:24:35,576 --> 01:24:40,080
has put a national spotlight
on institutional practices
1586
01:24:40,163 --> 01:24:41,748
by Wall Street firms.
1587
01:24:41,832 --> 01:24:45,419
And they have demonstrated
the enormous potential power
1588
01:24:45,502 --> 01:24:48,130
of social media in our markets.
1589
01:24:48,714 --> 01:24:52,259
We will hear firsthand from the witnesses
regarding these events.
1590
01:24:52,885 --> 01:24:57,055
The hearing will be an opportunity
for this committee to get the facts
1591
01:24:57,139 --> 01:25:00,309
about the role
each of the witnesses represent,
1592
01:25:00,392 --> 01:25:03,937
played in the events
we are examining today.
1593
01:25:04,021 --> 01:25:06,398
Well, now, Mr. Griffin, if I could
just ask you this first question.
1594
01:25:06,481 --> 01:25:07,316
Of course.
1595
01:25:07,399 --> 01:25:09,484
How many people
are in the room with you?
1596
01:25:10,402 --> 01:25:11,403
That's your question?
1597
01:25:11,486 --> 01:25:13,488
If you can just count how many
people are in the room with you.
1598
01:25:18,118 --> 01:25:21,622
There are five people,
including myself, in this room.
1599
01:25:21,705 --> 01:25:23,290
-Did anyone in your organization...
-Such a prick.
1600
01:25:23,373 --> 01:25:25,501
since January 1st, contact Robinhood?
1601
01:25:25,584 --> 01:25:30,339
We of course talk to Robinhood routinely
in the ordinary course of business.
1602
01:25:30,422 --> 01:25:32,090
We manage a substantial portion
of their order flow.
1603
01:25:32,174 --> 01:25:35,052
But did you talk to them about restricting
1604
01:25:35,135 --> 01:25:39,264
or doing anything to prevent people
from buying GameStop?
1605
01:25:39,348 --> 01:25:42,059
I want to be perfectly clear.
1606
01:25:42,142 --> 01:25:45,771
We had no role in Robinhood's decision
1607
01:25:45,854 --> 01:25:48,023
-to limit trading in GameStop.
-Fuck you, Ken Griffin.
1608
01:25:48,106 --> 01:25:51,902
So, if we depose everyone
in your organization, we would find that?
1609
01:25:52,569 --> 01:25:53,487
That is correct.
1610
01:25:53,570 --> 01:25:56,114
Looks like a Disney Channel villain.
1611
01:25:56,198 --> 01:26:00,702
Mr. Plotkin, do you believe
that there is manipulation, distrust,
1612
01:26:00,786 --> 01:26:03,622
and overall inequality
within American finance?
1613
01:26:03,705 --> 01:26:05,791
My focus is on my company, Melvin...
1614
01:26:07,543 --> 01:26:08,627
Hello?
1615
01:26:08,710 --> 01:26:10,337
You're on mute, dick!
1616
01:26:10,420 --> 01:26:11,964
Ah, I'm sorry, you're on mute.
1617
01:26:16,176 --> 01:26:17,845
He just keeps going.
1618
01:26:17,928 --> 01:26:19,680
...my area of expertise.
1619
01:26:19,763 --> 01:26:23,433
You're still on mute. I haven't been able
to hear a word you said, unfortunately.
1620
01:26:23,517 --> 01:26:25,310
Mr. Tenev, would you be willing
to commit today
1621
01:26:25,394 --> 01:26:27,980
-to voluntarily pass on the proceeds...
-Oh. Marry me.
1622
01:26:28,063 --> 01:26:30,774
of the payment for order flow
to Robinhood customers?
1623
01:26:30,858 --> 01:26:33,318
Congresswoman, I appreciate that question.
1624
01:26:33,402 --> 01:26:37,531
When the statement you refer to was made,
it was before Robinhood forced
1625
01:26:37,614 --> 01:26:39,533
the entire industry to drop
1626
01:26:39,616 --> 01:26:41,243
-commissions and replicate our...
-I should take that as a no.
1627
01:26:41,326 --> 01:26:44,079
You're not willing to pass on
the proceeds of payment for order flow
1628
01:26:44,162 --> 01:26:45,038
to your customers?
1629
01:26:45,122 --> 01:26:47,749
-When the other brokers drop...
-I'm just talking about today.
1630
01:26:47,833 --> 01:26:48,959
-Asshole.
-I don't want to be rude.
1631
01:26:49,042 --> 01:26:50,335
I just have limited time,
1632
01:26:50,419 --> 01:26:54,339
but if removing the revenues that you make
from a payment for order flow
1633
01:26:54,423 --> 01:26:57,843
would cause the removal
of free commissions,
1634
01:26:57,926 --> 01:26:59,636
doesn't that mean that
trading on Robinhood
1635
01:26:59,720 --> 01:27:01,597
isn't actually free to begin with?
1636
01:27:01,680 --> 01:27:02,973
Good question.
1637
01:27:09,605 --> 01:27:11,857
Thank you very much, Mr. Gill.
1638
01:27:11,940 --> 01:27:16,486
You are now recognized for five minutes
to present your oral testimony.
1639
01:27:28,415 --> 01:27:30,876
Thank you, members of the committee.
1640
01:27:33,420 --> 01:27:36,715
I am happy to discuss my purchase
of GameStop shares
1641
01:27:37,299 --> 01:27:40,677
and my discussions of their fair value
on social media.
1642
01:27:41,512 --> 01:27:43,138
But before I do that,
1643
01:27:43,222 --> 01:27:45,057
a few things I am not:
1644
01:27:46,850 --> 01:27:48,060
I am not a cat.
1645
01:27:49,603 --> 01:27:51,855
-What did he say?
-He just said cat, Ma.
1646
01:27:51,939 --> 01:27:54,107
-It's like a kitty thing.
-Nor am I a hedge fund.
1647
01:27:54,191 --> 01:27:55,567
I do not have clients,
1648
01:27:55,651 --> 01:28:00,906
and I do not provide personalized
investment advice for fees or commissions.
1649
01:28:00,989 --> 01:28:02,991
I grew up in Brockton, Mass.
1650
01:28:03,742 --> 01:28:05,619
My family was not wealthy.
1651
01:28:05,702 --> 01:28:08,956
My father was a truck driver
and my mom a registered nurse.
1652
01:28:09,039 --> 01:28:11,166
-That's you, Ma!
-I was one of three kids
1653
01:28:11,250 --> 01:28:14,211
and the first in my family
to earn a four-year college degree
1654
01:28:14,294 --> 01:28:18,423
when I graduated from Stonehill College
in 2009.
1655
01:28:18,507 --> 01:28:20,551
That was not a good time
to be looking for a job.
1656
01:28:20,634 --> 01:28:23,053
From 2010-2017,
1657
01:28:23,136 --> 01:28:26,515
there were significant periods
when I was unemployed.
1658
01:28:26,598 --> 01:28:28,892
I took an interest in the stock market,
1659
01:28:28,976 --> 01:28:31,186
and even though I had very little money,
1660
01:28:31,270 --> 01:28:35,399
I used those times to educate myself
and learn more about investing.
1661
01:28:35,482 --> 01:28:39,361
Mr. Gill, I find it hard to believe
that you predicted everything
1662
01:28:39,444 --> 01:28:43,031
that happened to GameStop
with no inside information.
1663
01:28:43,115 --> 01:28:44,783
I didn't predict it.
1664
01:28:44,867 --> 01:28:48,161
I honestly couldn't explain everything
that happened in January.
1665
01:28:48,245 --> 01:28:49,288
I've seen your videos.
1666
01:28:49,371 --> 01:28:52,624
You honestly couldn't recount
to the committee what caused
1667
01:28:52,708 --> 01:28:56,587
every single up and down of the stock
in January?
1668
01:28:57,171 --> 01:28:58,297
I think you could.
1669
01:28:59,631 --> 01:29:03,010
I did follow the stock very closely,
1670
01:29:03,093 --> 01:29:06,638
but threshold lists, order flows,
halting purchases, according to the press,
1671
01:29:06,722 --> 01:29:08,599
these all had a material impact
on the stock.
1672
01:29:08,682 --> 01:29:11,268
Here's the thing: I have
a bit of experience with this stuff,
1673
01:29:11,351 --> 01:29:13,270
and even I barely understand
these matters.
1674
01:29:13,353 --> 01:29:17,149
It's alarming how little we all know
about the inner workings of the market.
1675
01:29:17,232 --> 01:29:19,860
Which is why I'm glad that this committee
is examining what happened,
1676
01:29:19,943 --> 01:29:22,654
particularly with the exorbitant
short interest
1677
01:29:22,738 --> 01:29:25,532
as well as any potentially
manipulative shorting practices
1678
01:29:25,616 --> 01:29:29,786
and brokers' reported failures to
timely deliver shares and settle trades.
1679
01:29:33,081 --> 01:29:35,292
A lot of people feel the system is broken.
1680
01:29:35,375 --> 01:29:39,379
The whole idea of the stock market is to
be, like, kind of a fair playing field,
1681
01:29:39,463 --> 01:29:43,217
where if you're smart, maybe with a little
luck, you could make your fortune.
1682
01:29:44,092 --> 01:29:46,428
But, if it ever was that,
it's certainly not any more.
1683
01:29:47,513 --> 01:29:50,849
The big firms have such a big advantage,
in terms of technology and information
1684
01:29:50,933 --> 01:29:54,186
and just sheer wealth, there's no hope
for the little guy anymore.
1685
01:29:54,937 --> 01:29:56,813
Or there was no hope.
1686
01:29:57,564 --> 01:29:59,608
Maybe now, there is.
1687
01:30:01,777 --> 01:30:03,237
And as for me,
1688
01:30:03,946 --> 01:30:05,113
I like the stock.
1689
01:30:06,198 --> 01:30:08,575
He's a gangster for that.
1690
01:30:08,659 --> 01:30:10,285
I don't plan on selling any time soon.
1691
01:30:10,369 --> 01:30:11,995
-Hold it.
-Say that shit.
1692
01:30:12,079 --> 01:30:13,038
Diamond fucking hands.
1693
01:30:13,121 --> 01:30:14,039
Diamond hands, baby.
1694
01:30:15,165 --> 01:30:16,708
Attaboy.
1695
01:30:16,792 --> 01:30:18,085
What a nerd.
1696
01:30:18,710 --> 01:30:19,545
Thank you.
1697
01:30:27,302 --> 01:30:29,721
It was good. I think.
1698
01:30:30,889 --> 01:30:33,892
Yesterday's Reddit hearing in Congress
brought together
1699
01:30:33,976 --> 01:30:35,227
some of the power players
1700
01:30:35,310 --> 01:30:36,770
behind the January trading frenzy.
1701
01:30:36,854 --> 01:30:38,397
Representative Maxine Waters did say that
1702
01:30:38,480 --> 01:30:40,399
-there will be additional hearings
-What you got here involves people...
1703
01:30:40,482 --> 01:30:42,651
-and there will be two more to follow
-named you know, DFV and Roaring Kitty...
1704
01:30:42,734 --> 01:30:44,736
-to find more answers
-same guy by the way, and ultimately...
1705
01:30:44,820 --> 01:30:45,654
one market expert advocate...
1706
01:30:45,737 --> 01:30:47,155
Whether it's markets or social media,
1707
01:30:47,239 --> 01:30:49,241
or I'll just call it media
because that's what it is now.
1708
01:30:49,324 --> 01:30:51,159
Do you think any new regulation
gets done?
1709
01:30:51,243 --> 01:30:53,328
What's clear is that
we're in the Wild West
1710
01:30:53,412 --> 01:30:56,498
and that there is so much activity
that's going on, on these online forums.
1711
01:30:56,582 --> 01:30:59,793
And we've seen in the last month
and the last six weeks how much force
1712
01:30:59,877 --> 01:31:03,422
day traders en masse can bring
to the market and actually affect it.
1713
01:31:03,505 --> 01:31:05,174
They used to just make some noise
around the edges.
1714
01:31:05,257 --> 01:31:07,968
Now they can actually move markets,
move securities.
1715
01:31:39,750 --> 01:31:40,876
Cheers, everyone.
1716
01:31:57,392 --> 01:31:58,936
You're a fucking gangster.
1717
01:32:18,580 --> 01:32:20,916
Hey, man, I notice you've been selling
a lot of new games,
1718
01:32:20,999 --> 01:32:24,378
and I just wanted to remind you, again,
that we really wanna be pushing customers
1719
01:32:24,461 --> 01:32:26,964
towards the higher-margin pre-owned games.
1720
01:32:28,006 --> 01:32:29,967
Yeah, I'm not gonna do that.
1721
01:32:30,050 --> 01:32:30,926
Excuse me?
1722
01:32:31,009 --> 01:32:33,595
Oh, and in fact, I'm not gonna do
any of the Circle of Life bullshit.
1723
01:32:33,679 --> 01:32:35,055
Or your TikTok dance contest.
1724
01:32:35,138 --> 01:32:36,139
You're quitting, then.
1725
01:32:38,100 --> 01:32:39,101
Okay.
1726
01:32:39,184 --> 01:32:40,936
No, I mean, I thought about it, but...
1727
01:32:41,937 --> 01:32:43,730
Like, yo, I love it here.
1728
01:32:43,814 --> 01:32:45,482
So I think I'm gonna stay.
1729
01:32:45,566 --> 01:32:49,027
Well, you're awfully smug for a kid
who lost all his money buying stock.
1730
01:32:49,528 --> 01:32:51,947
What did you say it was going to?
A thousand?
1731
01:32:53,198 --> 01:32:55,701
I'm also not gonna work
at the ass crack of dawn any more.
1732
01:32:56,827 --> 01:32:57,703
You're fired.
1733
01:32:59,621 --> 01:33:00,873
No, I'm not.
1734
01:33:00,956 --> 01:33:03,667
You gotta get that approved
by like seven levels of people, yo.
1735
01:33:04,168 --> 01:33:06,712
Thanks to the geniuses
who put that together.
1736
01:33:06,795 --> 01:33:08,755
The ones who used to own my ass.
1737
01:33:09,256 --> 01:33:10,257
You sold?
1738
01:33:11,550 --> 01:33:12,384
Half.
1739
01:33:13,719 --> 01:33:15,679
Right at the tippy tippy top.
1740
01:33:15,762 --> 01:33:18,515
And I'm holding the other half
for the long haul.
1741
01:33:18,599 --> 01:33:20,350
'Cause I'm a savage
1742
01:33:20,851 --> 01:33:23,437
Classy, bougie, ratchet
1743
01:33:23,979 --> 01:33:26,815
Sassy, moody, nasty
1744
01:33:26,899 --> 01:33:29,484
Acting stupid what was happening
1745
01:34:09,942 --> 01:34:11,193
Fuck yeah!
1746
01:34:11,735 --> 01:34:14,488
I'm here testifying today far removed
from my background.
1747
01:34:14,571 --> 01:34:16,782
I grew up in a middle-class family
in Portland, Maine.
1748
01:34:16,865 --> 01:34:18,450
I went to a public high school.
1749
01:34:18,534 --> 01:34:20,869
I studied hard
and got into a good college.
1750
01:34:20,953 --> 01:34:23,413
Upon graduation, I did not have a job.
1751
01:34:26,583 --> 01:34:32,464
When the statement you refer to was made,
I believe 2015 or 2016,
1752
01:34:32,548 --> 01:34:35,551
it was before Robinhood forced
the entire industry
1753
01:34:35,634 --> 01:34:38,303
-to drop commissions and replicate our...
-I should take that as a no.
1754
01:34:38,387 --> 01:34:41,223
You're not willing to pass on
the proceeds of payment for order flow
1755
01:34:41,306 --> 01:34:42,432
to your customers?
1756
01:34:51,525 --> 01:34:56,822
But did you talk to them about restricting
or doing anything to prevent people
1757
01:34:56,905 --> 01:35:00,242
from buying, not selling
but buying, in GameStop?
1758
01:35:00,325 --> 01:35:02,369
Let me be perfectly clear.
1759
01:35:03,120 --> 01:35:05,414
Absolutely not.
1760
01:35:30,230 --> 01:35:32,357
As for me, I like the stock.
1761
01:35:35,110 --> 01:35:36,570
Hurry up, dick, it's cold.
1762
01:35:37,446 --> 01:35:39,114
I can't believe you're my brother.
1763
01:35:39,198 --> 01:35:40,532
You look like a fucking Ninja Turtle.
1764
01:35:40,616 --> 01:35:42,242
-Ready?
-Yup.
1765
01:35:43,076 --> 01:35:44,494
-Set... What?
-Fuck you!
1766
01:35:44,578 --> 01:35:45,412
Kevin!
1767
01:35:47,789 --> 01:35:48,749
C'mon, Kitty!
137540
Can't find what you're looking for?
Get subtitles in any language from opensubtitles.com, and translate them here.