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1
00:01:11,280 --> 00:01:13,699
So, I'm here.
2
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- And, I do not see anything happening.
- Right.
3
00:01:17,869 --> 00:01:19,705
- Right.
- At all.
4
00:01:19,705 --> 00:01:20,789
Look, I'm very sorry, sir.
5
00:01:20,789 --> 00:01:24,001
Guess what I'm trying to understand is,
what is the reason for this delay exactly?
6
00:01:24,001 --> 00:01:26,211
- Yeah. Mr. Plotkin, I'm so sorry.
- Specifically.
7
00:01:26,211 --> 00:01:29,715
- But it's just that when we set out...
- Yeah, we closed in November.
8
00:01:29,715 --> 00:01:32,050
We had all the permit applications in
before the end of the year.
9
00:01:32,050 --> 00:01:33,802
Right. Once we get
the final stamp of approval.
10
00:01:33,802 --> 00:01:35,345
And we can't get the trucks here
a little early?
11
00:01:35,345 --> 00:01:37,222
- Just, you know, get 'em started.
- Miami Beach ordinances...
12
00:01:37,222 --> 00:01:38,640
- won't let me do that.
- Is anyone actually...
13
00:01:38,640 --> 00:01:40,726
- ...enforcing those regulations?
- Look, Mr. Plotkin,
14
00:01:40,726 --> 00:01:42,352
I know that you're eager to move in. Okay.
15
00:01:42,352 --> 00:01:44,062
- Once we get the final stamp of approval.
- No.
16
00:01:44,062 --> 00:01:45,522
- You're gonna be the first...
- One second.
17
00:01:45,522 --> 00:01:46,648
Sure.
18
00:01:47,149 --> 00:01:48,233
Hello?
19
00:01:49,818 --> 00:01:53,071
You see what's going on at GME?
20
00:01:53,071 --> 00:01:54,698
There's more of these idiots?
21
00:01:54,698 --> 00:01:57,659
...the short sellers, now they're getting
creamed by the little guy...
22
00:01:57,659 --> 00:01:58,827
A lot more.
23
00:01:58,827 --> 00:02:00,370
They won't hold much longer.
24
00:02:00,370 --> 00:02:01,496
Go away.
25
00:02:02,372 --> 00:02:04,624
Oh Gabe, honey, they're holding.
26
00:02:05,625 --> 00:02:07,794
It just crossed a hundred.
27
00:02:07,794 --> 00:02:10,130
Gabe, where are you?
28
00:02:10,130 --> 00:02:11,298
Fuck!
29
00:02:11,298 --> 00:02:13,091
You should probably dial in.
30
00:02:13,091 --> 00:02:14,384
Yeah, be on in one sec.
31
00:02:16,053 --> 00:02:18,638
♪ There's some whores in this house ♪
32
00:02:18,638 --> 00:02:21,058
- ♪ I said, certified freak ♪
- ♪ Hold up! ♪
33
00:02:21,058 --> 00:02:22,976
♪ Seven days a week ♪
34
00:02:22,976 --> 00:02:26,313
♪ Wet-ass pussy
Make that pull-out game weak ♪
35
00:02:26,313 --> 00:02:29,066
- ♪ Whoo! Yeah, yeah ♪
- ♪ There's some whores in this house ♪
36
00:02:29,066 --> 00:02:31,443
♪ Yeah, you fucking
With some wet-ass pussy... ♪
37
00:02:31,443 --> 00:02:34,529
I will tell you I've never seen
anything like it. I'm concerned about it.
38
00:02:34,529 --> 00:02:36,490
I'm calling it the ultimate short squeeze.
39
00:02:36,490 --> 00:02:38,784
You can lose money to infinity.
40
00:02:38,784 --> 00:02:42,329
It's very different, more highly leveraged
game on the other side.
41
00:02:42,329 --> 00:02:43,622
♪ Put this pussy... ♪
42
00:02:43,622 --> 00:02:44,915
Holy fucking shit.
43
00:02:44,915 --> 00:02:45,999
♪ Like a credit card... ♪
44
00:02:45,999 --> 00:02:48,835
Right now we're gonna talk about GameStop.
Those shares...
45
00:02:48,835 --> 00:02:52,047
- are nonstop earning of about 130% today.
- Holy fucking shit!
46
00:02:52,047 --> 00:02:53,757
- Holy shit!
- What the...
47
00:02:53,757 --> 00:02:55,008
...fuck!
48
00:02:55,008 --> 00:02:56,760
♪ Let's role play, I'll wear a disguise ♪
49
00:02:56,760 --> 00:02:59,513
♪ I want you to park that big Mack truck
Right in this little garage ♪
50
00:02:59,513 --> 00:03:00,680
- Holy shit.
51
00:03:00,680 --> 00:03:02,432
- Yes. Hello?
- Great news, Mr. Plotkin.
52
00:03:02,432 --> 00:03:04,476
I think we'll be able to get you
into your new home
53
00:03:04,476 --> 00:03:05,852
a little sooner than I actually thought.
54
00:03:05,852 --> 00:03:08,063
I think we're having
some sort of miscommunication here.
55
00:03:08,063 --> 00:03:09,689
Because I'm not trying
to move into that house.
56
00:03:09,689 --> 00:03:12,401
I'm trying to tear that house down
so I can build a tennis court
57
00:03:12,401 --> 00:03:14,403
for me and my family to play
during the pandemic.
58
00:03:14,403 --> 00:03:15,904
- I see.
- I thought it would be very simple.
59
00:03:15,904 --> 00:03:17,864
Apparently, it isn't because
the pandemic is almost over
60
00:03:17,864 --> 00:03:19,491
- and there's no tennis court.
- Okay, Mr. Plotkin.
61
00:03:19,491 --> 00:03:20,909
Thank you for your time.
62
00:03:20,909 --> 00:03:22,661
Yes, what? Hello?
63
00:03:22,661 --> 00:03:25,497
Hi, it's Ken Griffin.
64
00:03:31,044 --> 00:03:33,046
Hi there, Ken, how are you?
Great to hear from you.
65
00:03:34,548 --> 00:03:35,632
Do you have a minute?
66
00:03:37,592 --> 00:03:38,760
I, uh...
67
00:03:39,428 --> 00:03:40,262
Um...
68
00:03:40,262 --> 00:03:42,848
I gotta call you right back.
If that's okay. I'm so sorry.
69
00:03:44,057 --> 00:03:45,392
- Sure.
- Okay, great.
70
00:03:46,935 --> 00:03:48,520
Hi. What's happening right now?
71
00:03:48,520 --> 00:03:51,022
It looks like there's one guy
driving all the buying.
72
00:03:51,022 --> 00:03:52,357
What... what... what guy?
73
00:03:53,442 --> 00:03:55,819
I believe his name is "Roaring Kitty."
74
00:03:55,819 --> 00:03:57,362
♪ There's some whores in this house ♪
75
00:03:57,362 --> 00:03:59,781
♪ Yeah, you fucking
With some wet-ass pussy... ♪
76
00:03:59,781 --> 00:04:01,116
Oh, wait, or...
77
00:04:01,116 --> 00:04:02,909
♪ This wet-ass pussy... ♪
78
00:04:02,909 --> 00:04:04,828
"Deep Fucking Value."
79
00:04:04,828 --> 00:04:07,456
"Roaring Kitty"
or "Deep Fucking Value." What?
80
00:04:08,415 --> 00:04:11,543
He's "Roaring Kitty" on YouTube
and "Deep Fucking Value" on Reddit.
81
00:04:11,543 --> 00:04:14,087
Both? He couldn't pick one name?
82
00:04:14,087 --> 00:04:15,839
I don't know. I love this guy.
83
00:04:15,839 --> 00:04:17,591
♪ That's some wet-ass pussy ♪
84
00:04:17,591 --> 00:04:19,426
♪ Macaroni in a pot ♪
85
00:04:19,426 --> 00:04:21,052
♪ That's some wet-ass pussy
86
00:04:21,052 --> 00:04:23,013
- ♪ Ha ♪
- ♪ There's some whores in this house... ♪
87
00:04:23,013 --> 00:04:24,389
Who is this schmuck?
88
00:04:24,389 --> 00:04:26,266
I don't know, but I think I just came.
89
00:05:31,957 --> 00:05:34,251
- Uh, Ruby... Ruby, right?
- Yeah.
90
00:05:34,251 --> 00:05:37,128
- Can I get a couple of Heinies, please?
- Uh, one. Sorry, uh...
91
00:05:37,712 --> 00:05:39,965
- I'm gonna have a...
- What? What's wrong with a Heinie?
92
00:05:39,965 --> 00:05:41,466
Drinking it since we were 17!
93
00:05:41,466 --> 00:05:43,552
Hey, drink what you like. No judgment.
94
00:05:43,552 --> 00:05:45,220
Uh, you have a Hamm's?
95
00:05:45,220 --> 00:05:47,806
- I'll have one of those.
- The fuck did you just order?
96
00:05:47,806 --> 00:05:50,684
Oh, it's a nice one outta Milwaukee.
Good quality.
97
00:05:50,684 --> 00:05:53,562
- Fifty cents a can before markup.
- C'mon, Kitty. Forget about price.
98
00:05:53,562 --> 00:05:54,854
Get him a Heineken, thank you.
99
00:05:54,854 --> 00:05:56,314
- It's on me.
- Thanks, man.
100
00:05:56,314 --> 00:05:59,025
Thank you, that's nice.
I'll have a Hamm's.
101
00:05:59,025 --> 00:06:00,652
So a Heineken and a Hamm's?
102
00:06:00,652 --> 00:06:01,778
Thank you.
103
00:06:01,778 --> 00:06:02,988
Please.
104
00:06:02,988 --> 00:06:04,322
Thank you, Ruby.
105
00:06:09,953 --> 00:06:10,954
How you been, man?
106
00:06:10,954 --> 00:06:13,081
The whole Sara thing.
107
00:06:13,081 --> 00:06:16,293
Oh, yeah. Okay, uh...
108
00:06:16,293 --> 00:06:17,752
Up and down.
109
00:06:18,336 --> 00:06:19,462
Yeah.
110
00:06:21,172 --> 00:06:22,757
- How's your asshole brother?
- Still an asshole.
111
00:06:22,757 --> 00:06:24,551
- Okay.
- Yeah.
112
00:06:25,135 --> 00:06:26,761
- Keeping busy at least?
- Uh...
113
00:06:26,761 --> 00:06:29,889
Got the day job at MassMutual.
Working on my portfolio.
114
00:06:29,889 --> 00:06:32,309
That's the last thing you should be
worrying about right now.
115
00:06:32,809 --> 00:06:34,769
Why? It's a... It's a good distraction.
116
00:06:34,769 --> 00:06:36,104
Lemme take that over for you.
117
00:06:36,104 --> 00:06:37,689
We got thousands of analysts at B of A
118
00:06:37,689 --> 00:06:40,150
- that do just this. C'mon, Kitty.
- All good, man. Thank you.
119
00:06:40,150 --> 00:06:41,693
You should be focused on your family
right now.
120
00:06:41,693 --> 00:06:43,194
Not fucking around with penny stocks.
121
00:06:43,194 --> 00:06:45,905
They're not all penny stocks.
GameStop isn't a penny stock.
122
00:06:45,905 --> 00:06:47,407
GameStop?
123
00:06:47,407 --> 00:06:48,867
- Dude...
- You used to love GameStop!
124
00:06:48,867 --> 00:06:52,037
- Yeah, then I grew up.
- Well, I think it's undervalued.
125
00:06:52,621 --> 00:06:54,623
I just sold off a bunch of other shit
to double down.
126
00:06:54,623 --> 00:06:56,583
How much are we talking? A grand?
127
00:06:56,583 --> 00:06:57,709
- Fifty.
- Bucks?
128
00:06:57,709 --> 00:06:58,835
Grand.
129
00:06:58,835 --> 00:06:59,961
53 grand.
130
00:06:59,961 --> 00:07:01,921
Yeah.
131
00:07:06,551 --> 00:07:07,469
Kitty...
132
00:07:09,346 --> 00:07:11,556
- Man, you don't even own a house.
- It's got a ton of short interest,
133
00:07:11,556 --> 00:07:13,391
- You got a one-year-old.
- which is artificially pushing...
134
00:07:13,391 --> 00:07:14,809
- Jesus, bro.
- the price down.
135
00:07:14,809 --> 00:07:17,270
- You never bet against Wall Street!
- Wall Street gets it wrong all the time.
136
00:07:17,270 --> 00:07:18,813
- Look at '08.
- That was a one-off, Kitty.
137
00:07:18,813 --> 00:07:20,273
These guys, they have all the money
138
00:07:20,273 --> 00:07:22,400
and the fancy degrees
and the political juice in the world,
139
00:07:22,400 --> 00:07:24,611
- and they get it wrong all the time.
- Are you out of your fucking mind?
140
00:07:24,611 --> 00:07:27,405
They've got the advantage,
and they still get it wrong.
141
00:07:29,032 --> 00:07:31,576
No, gimme that, I'm drinking it.
Even if it's 50 cents.
142
00:07:31,576 --> 00:07:32,661
It's 4 bucks.
143
00:07:32,661 --> 00:07:34,746
Well, my man just spent 53K
on a penny stock.
144
00:07:34,746 --> 00:07:36,623
So, all he can afford is water.
145
00:07:36,623 --> 00:07:39,125
- You're a Wall Street guy?
- Very much no.
146
00:07:39,125 --> 00:07:40,669
I'm a Wall Street guy.
147
00:07:40,669 --> 00:07:42,170
What was the stock?
148
00:07:43,421 --> 00:07:44,506
GameStop.
149
00:07:45,882 --> 00:07:47,217
The video game store. At the mall.
150
00:07:47,217 --> 00:07:50,804
- You really bought $53,000 of it?
- Yeah, I don't believe it.
151
00:07:50,804 --> 00:07:52,972
I think he's fucking with us.
You're fucking with us, right?
152
00:07:52,972 --> 00:07:54,683
You don't even have 50 grand.
153
00:07:54,683 --> 00:07:55,850
Let's see.
154
00:07:58,269 --> 00:07:59,396
Oh, shit.
155
00:08:01,481 --> 00:08:03,400
How is she falling for this?
How are you falling for this?
156
00:08:03,400 --> 00:08:05,777
He won't spend 5 bucks for a beer,
157
00:08:05,777 --> 00:08:09,197
but he'll put 50k in a stock
that you think is a joke.
158
00:08:09,197 --> 00:08:10,782
And that's interesting to you?
159
00:08:11,658 --> 00:08:12,742
Yeah.
160
00:08:13,952 --> 00:08:15,078
It is.
161
00:08:21,042 --> 00:08:22,627
Drink your shitty beer.
162
00:08:32,011 --> 00:08:33,054
Hey!
163
00:08:33,054 --> 00:08:34,180
Hey!
164
00:08:36,599 --> 00:08:38,143
Bedtime's already done?
165
00:08:38,143 --> 00:08:41,521
Yeah, she was exhausted.
She skipped her nap.
166
00:08:43,314 --> 00:08:44,858
- How was Briggsy?
- Uh...
167
00:08:44,858 --> 00:08:46,317
Good. Yeah.
168
00:08:54,617 --> 00:08:56,369
You guys talk about Sara?
169
00:08:58,288 --> 00:08:59,247
Uh...
170
00:09:02,792 --> 00:09:04,461
Do you wanna sit down a minute?
171
00:09:04,461 --> 00:09:06,629
I'll feel better if I finish these first.
172
00:09:07,589 --> 00:09:09,841
No, you won't.
173
00:09:35,241 --> 00:09:36,242
Do you think I'm insane?
174
00:09:36,242 --> 00:09:37,577
Yeah.
175
00:09:38,870 --> 00:09:40,497
Sorry. About what?
176
00:09:41,664 --> 00:09:42,791
GameStop.
177
00:09:42,791 --> 00:09:45,543
The most compelling
asymmetric opportunity in the market?
178
00:09:47,670 --> 00:09:49,964
- What, did Briggsy make you jumpy?
- A little.
179
00:09:49,964 --> 00:09:52,091
- What was his argument?
- He didn't have one.
180
00:09:52,091 --> 00:09:54,677
- Well.
- He just said it was a reckless bet.
181
00:09:54,677 --> 00:09:57,055
He said "you're putting your money
in the next Blockbuster."
182
00:09:57,055 --> 00:09:57,972
Enough. Fuck Briggsy.
183
00:09:57,972 --> 00:10:01,351
Babe, you literally know more about
this damn company than you know about me.
184
00:10:01,810 --> 00:10:02,727
It's true.
185
00:10:02,727 --> 00:10:05,730
And because of you, I know more about
this company than I know about myself.
186
00:10:05,730 --> 00:10:09,526
But what if I'm missing something?
We can't afford to miss something.
187
00:10:10,860 --> 00:10:12,612
It's all our savings.
188
00:10:13,321 --> 00:10:14,489
Go do a video.
189
00:10:15,782 --> 00:10:17,617
I can finish these first. I'm happy to...
190
00:10:17,617 --> 00:10:19,744
Go see what the nerds have to say.
191
00:10:19,744 --> 00:10:22,413
Our Wall Street Bets people
aren't nerds, Caroline.
192
00:10:22,413 --> 00:10:24,916
They're gangsters.
You make a dumb case and post it,
193
00:10:24,916 --> 00:10:27,335
- they'll rip you apart.
- Well, then don't make a dumb case.
194
00:10:46,479 --> 00:10:47,981
Okay, let's see what's new.
195
00:10:50,942 --> 00:10:52,986
Oh, there's a share. Okay, here we go.
196
00:10:55,905 --> 00:10:57,198
Oh shit.
197
00:11:20,555 --> 00:11:22,015
All right...
198
00:11:22,807 --> 00:11:25,393
Just check on... See here.
199
00:11:35,695 --> 00:11:38,448
Yo, what up, everybody?
Roaring Kitty here.
200
00:11:38,448 --> 00:11:41,576
Uh, I've done a few of these now,
mostly on my investing methodology.
201
00:11:41,576 --> 00:11:44,412
Uh, but today I'm gonna try something
a little different.
202
00:11:44,412 --> 00:11:47,832
I appreciate the feedback
you guys have been leaving me by the way.
203
00:11:47,832 --> 00:11:51,502
Uh... Oh! More feedback comin' in hot.
204
00:11:51,502 --> 00:11:55,298
"Less cats." Okay. Great.
205
00:11:55,298 --> 00:11:58,927
Ah, like I was saying--
Uh, what was I saying?
206
00:11:58,927 --> 00:11:59,886
Ah, I'm gonna try...
207
00:11:59,886 --> 00:12:02,096
Oh, and here's one from Ballz.
208
00:12:02,096 --> 00:12:03,598
"Nerd."
209
00:12:03,598 --> 00:12:05,600
And nerd is in all capitals.
210
00:12:05,600 --> 00:12:09,646
Like, okay, that's kinda mean.
But okay, fair.
211
00:12:09,646 --> 00:12:10,730
Uh...
212
00:12:10,730 --> 00:12:12,732
"Nice shirt, Grandpa"?
213
00:12:12,732 --> 00:12:16,027
What? How old do you think I am?
214
00:12:16,027 --> 00:12:16,986
You know what?
215
00:12:16,986 --> 00:12:20,114
Thanks for the comments.
We're gonna come back to them at the end.
216
00:12:20,114 --> 00:12:21,407
Here's what I wanna talk about.
217
00:12:22,283 --> 00:12:25,536
Uh, I'm gonna pick a stock and
talk about why I think it's interesting.
218
00:12:25,536 --> 00:12:27,497
And that stock is...
219
00:12:28,915 --> 00:12:30,917
GameStop. Uh...
220
00:12:31,709 --> 00:12:33,086
I know it's a polarizing stock
221
00:12:33,086 --> 00:12:35,588
and some of you probably gonna
tune out of the stream right now
222
00:12:35,588 --> 00:12:38,091
when you hear I'm bullish on GameStop.
But I am.
223
00:12:38,091 --> 00:12:42,178
You can see it is now the biggest position
by far in the Roaring Kitty portfolio.
224
00:12:42,178 --> 00:12:43,096
So...
225
00:12:43,096 --> 00:12:46,140
yeah, I think everyone else is crazy,
and I think I'm right.
226
00:12:46,140 --> 00:12:50,687
But I've been wrong plenty of times
in the past. So, uh...
227
00:12:50,687 --> 00:12:54,232
So there are a lot of aspects to this
bold thesis, a lot of moving parts,
228
00:12:54,232 --> 00:12:56,734
but I boil it down
to what I consider the three overs:
229
00:12:56,734 --> 00:12:59,070
The digital risks seem to me
to be overblown,
230
00:12:59,070 --> 00:13:00,530
the negative sentiment is overdone,
231
00:13:00,530 --> 00:13:02,281
you can see it
with the huge short interest,
232
00:13:02,281 --> 00:13:04,200
and the value is overlooked.
233
00:13:04,200 --> 00:13:06,369
Wall Street just doesn't see it.
234
00:13:06,995 --> 00:13:08,162
Why?
235
00:13:08,162 --> 00:13:11,416
Mr. Market, why?
236
00:13:12,166 --> 00:13:14,919
The hedge funds are overlooking
the value in the company
237
00:13:14,919 --> 00:13:17,630
just like they overlook
the people who shop there.
238
00:13:17,630 --> 00:13:20,341
They assume most people download
games online now.
239
00:13:20,341 --> 00:13:24,679
But look, 25% of gamers
still buy new discs from GameStop,
240
00:13:24,679 --> 00:13:27,724
and 40% buy used games from the store.
241
00:13:27,724 --> 00:13:29,684
And the market's kinda forced
my hand here.
242
00:13:29,684 --> 00:13:32,645
What more can I say?
I just like the stock.
243
00:13:32,645 --> 00:13:33,730
Hey!
244
00:13:34,439 --> 00:13:35,857
Shit!
245
00:13:36,899 --> 00:13:38,568
- Did I wake you?
- Please stop.
246
00:13:38,568 --> 00:13:41,446
Mr. Donaldson, I need you in your bed.
247
00:13:41,446 --> 00:13:43,448
Kerin, can you please
make sure Mr. Donaldson...
248
00:13:43,448 --> 00:13:45,908
I don't need to go to bed.
I need a cup of coffee.
249
00:13:45,908 --> 00:13:48,786
We can get you a cup of coffee.
Kerin, coffee.
250
00:13:48,786 --> 00:13:49,954
Oh!
251
00:13:50,580 --> 00:13:51,748
Well, isn't that beautiful?
252
00:13:52,331 --> 00:13:53,458
Oh shit.
253
00:13:54,792 --> 00:13:59,672
"100% short GameStop stock "?
254
00:13:59,672 --> 00:14:01,049
It's an investment video.
255
00:14:01,049 --> 00:14:03,634
Hey, Jenny, for real,
256
00:14:03,634 --> 00:14:06,471
I wouldn't take investment advice
from a guy in a cat shirt.
257
00:14:06,471 --> 00:14:09,098
Oh, okay.
Who do you take investment advice from?
258
00:14:09,098 --> 00:14:15,772
I don't have investments. And if I did,
I'd listen to, like, a banker.
259
00:14:15,772 --> 00:14:17,273
Just the way they like it.
260
00:14:17,273 --> 00:14:21,235
"They." [laughs] Oh boy. Here we go...
261
00:14:21,235 --> 00:14:22,403
Just never mind.
262
00:14:22,403 --> 00:14:23,863
No, no, no, please tell me.
263
00:14:23,863 --> 00:14:27,075
I'm dying to know what Luke Wilson
from The Royal Tenenbaums
264
00:14:27,075 --> 00:14:29,702
thinks we should do
with our $68,000 a year.
265
00:14:29,702 --> 00:14:30,828
Who from what?
266
00:14:30,828 --> 00:14:31,913
Ugly Björn Borg.
267
00:14:31,913 --> 00:14:33,081
Okay, fine.
268
00:14:33,081 --> 00:14:36,000
Wall Street is betting
that this company is gonna fail.
269
00:14:36,000 --> 00:14:37,585
It's called shorting.
270
00:14:37,585 --> 00:14:41,172
And if it fails, well,
then everybody loses their job,
271
00:14:41,172 --> 00:14:43,841
but these hedge fund assholes
make a shit ton of money.
272
00:14:44,425 --> 00:14:48,179
It's bullshit. It's a bullshit way
for rich people to get richer.
273
00:14:48,179 --> 00:14:49,847
How did you even find this guy?
274
00:14:49,847 --> 00:14:52,475
70,000 people have watched this video.
275
00:14:52,475 --> 00:14:54,894
He posts his balance sheets
and everything.
276
00:14:54,894 --> 00:14:56,729
Wall Street Bets is going crazy over this.
277
00:14:56,729 --> 00:14:58,856
- Who?
- It's an Internet forum.
278
00:14:58,856 --> 00:14:59,941
Uh-huh.
279
00:15:00,733 --> 00:15:01,984
- On Reddit.
- Now, see. No, no.
280
00:15:01,984 --> 00:15:04,362
I'm not gonna do this with you.
The last time you brought up Reddit,
281
00:15:04,362 --> 00:15:07,115
it was just all these oil paintings
of Donald Trump on horseback.
282
00:15:07,115 --> 00:15:08,908
- You liked it.
- Detestable.
283
00:15:08,908 --> 00:15:11,577
- Look.
- Okay, yeah. Let's take a look.
284
00:15:11,577 --> 00:15:13,162
Um...
285
00:15:13,162 --> 00:15:15,623
"Shit's not a pump-and-dump
286
00:15:15,623 --> 00:15:19,001
if it never dumps, you fuckheads..."
287
00:15:19,001 --> 00:15:23,131
"Feed me your tears,
I use it as anal lube on your wives."
288
00:15:23,131 --> 00:15:24,257
Why did you go to that one?
289
00:15:24,257 --> 00:15:27,802
Oh! Oh! Oh! "Strap on ur theta dildo
290
00:15:27,802 --> 00:15:31,931
- n start pounding."
- Okay. Yes, that shit exists on here.
291
00:15:31,931 --> 00:15:35,726
But I also learned the difference between
a delta squeeze and a gamma squeeze.
292
00:15:35,726 --> 00:15:37,728
And now everyone
is talking about call options.
293
00:15:37,728 --> 00:15:41,274
Jenny, baby,
you're never gonna find a man on there.
294
00:15:42,692 --> 00:15:44,944
And you're never gonna date Puff Daddy.
295
00:15:44,944 --> 00:15:47,363
First of all, no one has said Puff Daddy
since the '90s
296
00:15:47,363 --> 00:15:49,740
and second of all, this isn't Puff Daddy.
297
00:15:50,533 --> 00:15:51,701
This is Loop Daddy.
298
00:15:52,618 --> 00:15:56,497
Okay, well, whatever Daddy he's called,
he's weird looking.
299
00:15:56,497 --> 00:15:59,250
Hey, well, my guy has, what,
5 million TikTok followers.
300
00:15:59,250 --> 00:16:01,002
- How many does yours have?
- I don't know.
301
00:16:01,002 --> 00:16:03,754
Quick scroll. 412.
302
00:16:03,754 --> 00:16:06,090
- Who cares?
- The Internet at large.
303
00:16:06,090 --> 00:16:08,134
But hey. Least I aim high.
304
00:16:09,177 --> 00:16:11,053
- I aim high.
305
00:16:19,896 --> 00:16:23,149
♪ 21 bands for the age of 21 ♪
306
00:16:23,149 --> 00:16:26,527
♪ I'mma flip the funds up
Then I cop the Chevy truck ♪
307
00:16:26,527 --> 00:16:29,906
♪ Buy her what she want
And you know she show me love ♪
308
00:16:29,906 --> 00:16:32,867
♪ Then I roll it up
Then I roll it up ♪
309
00:16:32,867 --> 00:16:36,078
♪ Motherfuckers wanna hate me
And shame me ♪
310
00:16:36,078 --> 00:16:39,290
♪ Motherfuckers wanna drain me
Cobain me ♪
311
00:16:39,290 --> 00:16:42,627
♪ All these bitches trying to chain me
And blame me ♪
312
00:16:42,627 --> 00:16:46,339
♪ Motherfuckers wanna change me
And hate me ♪
313
00:16:46,339 --> 00:16:48,925
What up, everybody? Roaring Kitty here.
314
00:16:48,925 --> 00:16:53,888
Yo! Yo! Yo! This price action,
gettin' kind of ridiculous, am I right?
315
00:16:53,888 --> 00:16:56,432
Let's see what happens.
See what happens at the end of the week.
316
00:16:56,432 --> 00:16:58,684
But it's all about
the trend staying intact.
317
00:16:58,684 --> 00:17:00,478
But this, this looks sick.
318
00:17:03,981 --> 00:17:05,107
Morning, Marcos!
319
00:17:05,608 --> 00:17:08,569
Shit... Yo, what's... Hey, Brad.
320
00:17:15,785 --> 00:17:19,622
Yo, um, I was wondering
if could I get an advance on my pay?
321
00:17:20,248 --> 00:17:21,749
I can run it up the chain,
322
00:17:21,749 --> 00:17:24,210
but with all the cutbacks,
that's unlikely.
323
00:17:25,294 --> 00:17:27,421
Oh, hey! You could do
the employee TikTok contest.
324
00:17:27,421 --> 00:17:29,882
You do a lip sync,
you can win 10 labor hours.
325
00:17:29,882 --> 00:17:31,592
Yeah, man, totally.
326
00:17:32,301 --> 00:17:35,263
That's dope. I was thinkin' "Savage."
327
00:17:36,639 --> 00:17:38,599
Yeah. Yeah, sure, I love it.
328
00:17:38,599 --> 00:17:41,060
Or yo, that Drake one with Lil Durk.
329
00:17:42,687 --> 00:17:43,896
That's a great one too.
330
00:17:43,896 --> 00:17:45,690
Because I know you love Lil Durk.
331
00:17:46,232 --> 00:17:47,149
- C'mon.
332
00:17:47,149 --> 00:17:49,777
No, I'm gonna do Megan Thee Stallion.
For sure, for sure, for sure.
333
00:17:49,777 --> 00:17:50,820
♪ I'm a savage ♪
334
00:17:51,529 --> 00:17:53,823
♪ Classy, bougie, ratchet ♪
335
00:17:53,823 --> 00:17:56,534
♪ Sassy, moody, nasty ♪
336
00:17:56,534 --> 00:17:58,661
Okay, mask! Mask.
337
00:17:59,787 --> 00:18:01,080
Sorry.
338
00:18:01,080 --> 00:18:03,666
♪ Acting stupid, what was happening? ♪
339
00:18:04,250 --> 00:18:06,168
♪ What's happening? I'm a savage ♪
340
00:18:06,168 --> 00:18:09,380
Huh, A+ man. You're a shoo-in
with moves like that.
341
00:18:09,380 --> 00:18:11,299
Yo, you think so for real, though?
342
00:18:12,341 --> 00:18:13,342
That's sweet, real.
343
00:18:14,844 --> 00:18:16,012
Ten labor hours.
344
00:18:16,887 --> 00:18:18,347
Damn, it's like Christmas came early!
345
00:18:20,016 --> 00:18:21,517
I'm pullin' for ya!
346
00:18:21,517 --> 00:18:22,893
Thanks, man.
347
00:18:25,187 --> 00:18:26,314
♪ I'm that bitch ♪
348
00:18:26,314 --> 00:18:28,691
♪ I'm that bitch
Hey ♪
349
00:18:28,691 --> 00:18:31,861
♪ I'm the hood Mona Lisa
Break a nigga into pieces ♪
350
00:18:31,861 --> 00:18:34,822
♪ Had to X some cheesy niggas
Out my circle like a pizza ♪
351
00:18:34,822 --> 00:18:38,492
♪ I'm way too exclusive
I don't shop on Insta' boutiques... ♪
352
00:18:38,492 --> 00:18:40,828
♪ ...only fit fake booties ♪
353
00:18:40,828 --> 00:18:41,954
♪ Fuck cash shit ♪
354
00:18:41,954 --> 00:18:42,872
♪ Talking cash shit ♪
355
00:18:42,872 --> 00:18:45,041
♪ Pussy like water
I'm unbothered and relaxing ♪
356
00:18:45,041 --> 00:18:45,958
Mmm! Fries.
357
00:18:45,958 --> 00:18:48,627
♪ I would never trip on a nigga
if I had him ♪
358
00:18:48,627 --> 00:18:51,589
♪ Bitch, that's my trash, you the maid
So you bagged him ♪
359
00:18:51,589 --> 00:18:54,925
♪ I'm a savage
Classy, bougie, ratchet ♪
360
00:18:54,925 --> 00:18:56,093
No, fuck!
361
00:18:56,093 --> 00:18:57,887
♪ Sassy, moody, nasty... ♪
362
00:18:57,887 --> 00:18:58,888
God!
363
00:18:58,888 --> 00:19:01,057
Goddamn it! Fuck!
364
00:19:01,057 --> 00:19:04,018
But first, cheers! Cheers, everybody.
365
00:19:04,018 --> 00:19:07,146
I mean, look. I know we still got
a lot of bear takes out there.
366
00:19:07,146 --> 00:19:09,065
But as I dive deeper and deeper
into this thing,
367
00:19:09,065 --> 00:19:10,941
it's looking increasingly
compelling to me.
368
00:19:10,941 --> 00:19:14,153
And then you got the huge short interest.
Now, I'm not betting on a short squeeze.
369
00:19:14,153 --> 00:19:16,489
I've been saying that the whole time.
You guys have been talking about it.
370
00:19:16,489 --> 00:19:18,074
Thesis is grounded in fundamentals,
but I'm not...
371
00:19:18,074 --> 00:19:19,700
But to... I mean, today, I mean, I'm...
372
00:19:19,700 --> 00:19:21,410
I mean, it's starting to feel
a little squeezy, right?
373
00:19:21,410 --> 00:19:22,912
Starting to feel a little squeezy. Honk!
374
00:19:22,912 --> 00:19:24,455
I mean, hello. Okay!
375
00:19:24,455 --> 00:19:26,665
All right, all right. I need a drink.
I need a drink.
376
00:19:29,085 --> 00:19:32,505
Now. A lot of you are accusing me
of talking a big game.
377
00:19:32,505 --> 00:19:33,672
- Keith?
- But--
378
00:19:33,672 --> 00:19:36,717
- Babe, where are you?
- Oh... Coming!
379
00:19:37,551 --> 00:19:40,137
Duh... I'm on Daddy duty tonight.
I'll be right back.
380
00:19:41,639 --> 00:19:43,599
♪ Stack it, pack it
Stack it, pack it, trap it ♪
381
00:19:43,599 --> 00:19:46,602
♪ Send it to a rich nigga
Tell him work his magic ♪
382
00:19:46,602 --> 00:19:49,688
♪ Stack it, pack it
Stack it, pack it, trap it ♪
383
00:19:49,688 --> 00:19:52,691
♪ Send it to a rich nigga
Tell him make somethin' happen ♪
384
00:19:52,691 --> 00:19:54,443
♪ I ain't slowin' down for no clown ♪
385
00:19:55,361 --> 00:19:58,406
♪ Tell him hit the next route
I'm the best out ♪
386
00:19:58,406 --> 00:20:01,117
♪ Work on my confidence
Now my chest out ♪
387
00:20:01,117 --> 00:20:04,787
♪ Pop it and I'm blessed now
They only love you when you down ♪
388
00:20:04,787 --> 00:20:09,083
♪ I'mma stack it, pack it
Stack it, pack it, trap it... ♪
389
00:20:09,083 --> 00:20:11,669
Okay. There you go.
390
00:20:12,920 --> 00:20:15,381
Ooh! Sorry.
391
00:20:15,381 --> 00:20:16,924
Quick tendie break.
392
00:20:17,425 --> 00:20:18,342
Mmm!
393
00:20:18,342 --> 00:20:19,677
Gotta love those tendies.
394
00:20:19,677 --> 00:20:21,053
Sweet, sweet tendies.
395
00:20:22,012 --> 00:20:23,431
Speaking of tendies.
396
00:20:24,640 --> 00:20:27,435
- Look at this. Look at this chart.
397
00:20:28,686 --> 00:20:32,398
We go from four, to six, to seven. Now...
398
00:20:32,940 --> 00:20:33,899
ten.
399
00:20:34,483 --> 00:20:37,153
Wall Street must be seeing this, right?
400
00:20:37,153 --> 00:20:39,655
Or are we just screaming into the void?
401
00:20:39,655 --> 00:20:43,117
Hello, Mr. Market. We got tendies too.
402
00:20:43,117 --> 00:20:45,536
We got tendies too.
403
00:20:47,329 --> 00:20:48,289
Maybe we are.
404
00:20:48,289 --> 00:20:53,711
They never saw the, like, 9 billion
resumes I sent from 2016 to 2019.
405
00:20:53,711 --> 00:20:56,213
Or in 2009,
right after I graduated college.
406
00:20:56,213 --> 00:20:59,800
I guess they were busy
with that whole "market crash" thing then.
407
00:21:02,845 --> 00:21:04,513
♪ Send it to a rich nigga... ♪
408
00:21:04,513 --> 00:21:06,474
- Fuck!
409
00:21:06,474 --> 00:21:07,600
♪ Stack it-- ♪
410
00:21:15,524 --> 00:21:16,817
Kevin, you son of a bitch!
411
00:21:16,817 --> 00:21:18,944
You can't run with a baby.
You can't run with a baby!
412
00:21:18,944 --> 00:21:21,864
- Don't take my car, man!
- I fucked up your seat!
413
00:21:21,864 --> 00:21:23,491
There's no gas left.
414
00:21:24,283 --> 00:21:26,410
- I know.
415
00:21:27,786 --> 00:21:30,539
- ♪ You in the zone ♪
- ♪ I can be a better man... ♪
416
00:21:37,046 --> 00:21:38,672
How did that taste?
417
00:21:40,966 --> 00:21:43,010
Hey-oh, can I put my pants back on?
418
00:21:43,010 --> 00:21:44,094
No!
419
00:21:44,094 --> 00:21:49,517
"Choose a player and put your hand
down their panties for a whole minute."
420
00:21:49,517 --> 00:21:51,060
Panties, who's got panties?
421
00:21:51,060 --> 00:21:52,561
"Two shots if they refuse."
422
00:21:52,561 --> 00:21:54,980
- I mean, I got some panties.
423
00:21:54,980 --> 00:21:56,607
- Ew!
424
00:21:56,607 --> 00:21:59,693
- Bro.
425
00:22:00,861 --> 00:22:03,113
- Hello.
- All right.
426
00:22:04,156 --> 00:22:05,950
- All right.
- Hey, girl.
427
00:22:05,950 --> 00:22:07,451
You said two shots, right?
428
00:22:07,451 --> 00:22:08,994
Oh, c'mon.
429
00:22:10,704 --> 00:22:12,248
Fuck, all good.
430
00:22:12,248 --> 00:22:14,667
- Can someone start the timer?
- I got you. I got you.
431
00:22:14,667 --> 00:22:17,169
- Should I just...? Okay.
- Get in there.
432
00:22:17,169 --> 00:22:18,546
- You sure?
- Yeah.
433
00:22:19,296 --> 00:22:21,340
- Whoa.
434
00:22:22,049 --> 00:22:23,384
Okay...
435
00:22:24,051 --> 00:22:26,262
Hi.
436
00:22:28,514 --> 00:22:30,933
- How are you?
437
00:22:30,933 --> 00:22:32,434
Can you shut the fuck up?
438
00:22:32,434 --> 00:22:35,145
- Fuck off!
439
00:22:35,145 --> 00:22:36,730
So what'd you do today?
440
00:22:36,730 --> 00:22:40,401
Well, I attended a Zoom seminar
441
00:22:40,401 --> 00:22:44,238
during which I watched
two hours of TikTok.
442
00:22:46,073 --> 00:22:47,366
- Oh!
443
00:22:47,366 --> 00:22:50,452
I, um, purchased three shares of stock.
444
00:22:51,412 --> 00:22:52,871
Okay, what stock?
445
00:22:52,871 --> 00:22:55,624
- GameStop.
- Yo, Roaring Kitty!
446
00:22:55,624 --> 00:22:57,376
C'mon. Yes, James.
447
00:22:57,376 --> 00:23:00,129
- Can I please put some pants back on?
448
00:23:00,129 --> 00:23:01,213
- No!
- Sit down.
449
00:23:01,213 --> 00:23:04,508
I'm three days into that shit. Look it.
That's just, that's only from today.
450
00:23:04,508 --> 00:23:06,927
I don't care.
I don't know what the fuck I'm doing.
451
00:23:06,927 --> 00:23:08,178
I just know I'm making money.
452
00:23:08,178 --> 00:23:09,722
I'm not sold on that.
453
00:23:09,722 --> 00:23:11,515
It's doubled since summer.
454
00:23:11,515 --> 00:23:13,976
And the more people who buy in,
the higher it'll go.
455
00:23:13,976 --> 00:23:16,520
That sounds like the literal definition
of a pyramid scheme.
456
00:23:17,313 --> 00:23:18,939
- That's time.
- Bravo!
457
00:23:23,235 --> 00:23:25,696
♪ You make me wanna
You make me wanna ♪
458
00:23:28,115 --> 00:23:31,410
♪ You make me wanna
You make me wanna ♪
459
00:23:31,410 --> 00:23:33,370
♪ You make me wanna ♪
460
00:23:35,414 --> 00:23:39,585
♪ You make me wanna
You make me wanna ♪
461
00:23:39,585 --> 00:23:41,253
♪ You make me wanna... ♪
462
00:23:42,296 --> 00:23:46,133
Sorry, I have terrible allergies.
And a killer headache.
463
00:23:46,133 --> 00:23:48,385
Could just be the music coming
from next door though.
464
00:23:48,385 --> 00:23:52,222
You see your buddy Ken's up to
57 billion in short positions?
465
00:23:52,222 --> 00:23:54,224
Yeah, smart. The economy's in free fall.
466
00:23:55,225 --> 00:23:56,727
- Mmm.
467
00:23:58,437 --> 00:24:00,814
I honestly can't tell
if that was you or Romeo.
468
00:24:00,814 --> 00:24:02,441
Very funny.
469
00:24:02,441 --> 00:24:05,527
I'm telling you. This is when
they drag out the guillotines.
470
00:24:06,111 --> 00:24:08,238
- You're obsessed with him.
- The man is an asshole.
471
00:24:08,238 --> 00:24:12,284
He stole five analysts from me.
All mediocre by the way.
472
00:24:13,077 --> 00:24:14,286
Oh, and two paintings.
473
00:24:14,286 --> 00:24:16,580
- What paintings?
- A Picasso and a de Kooning.
474
00:24:16,580 --> 00:24:18,082
He overpaid 500 million.
475
00:24:18,082 --> 00:24:20,292
That is my entire nut from last year.
476
00:24:20,292 --> 00:24:22,086
The man is an asshole. Just admit it.
477
00:24:22,086 --> 00:24:24,505
You're just bitter
he stole those analysts.
478
00:24:24,505 --> 00:24:26,548
You seen Citadel's projected revenue?
479
00:24:26,548 --> 00:24:28,759
$7 billion.
480
00:24:28,759 --> 00:24:31,387
That's, uh, double last year.
481
00:24:31,387 --> 00:24:33,514
Hoovering up all the stimulus checks.
482
00:24:33,514 --> 00:24:35,599
- They go straight from the retail traders
- Thank you.
483
00:24:35,599 --> 00:24:37,393
right into Kenny boy's pockets.
484
00:24:37,393 --> 00:24:41,563
The man just gets away with murder.
Look at what I just sent you.
485
00:24:49,238 --> 00:24:52,825
Is this a video of a man drinking
his own urine because a stock went up?
486
00:24:52,825 --> 00:24:54,076
#1 post on the site.
487
00:24:54,076 --> 00:24:55,703
Where did you get this?
488
00:24:55,703 --> 00:24:57,663
My analysts sent it to me.
489
00:24:57,663 --> 00:25:02,835
They call themselves apes and r-words.
Retard, can they say that?
490
00:25:02,835 --> 00:25:06,964
Remarkably self-aware. They've hooked
into GameStop for whatever reason.
491
00:25:06,964 --> 00:25:08,716
They think it's funny, it seems.
492
00:25:08,716 --> 00:25:10,092
I think it's funny.
493
00:25:10,092 --> 00:25:11,802
I think they think it's a good investment.
494
00:25:11,802 --> 00:25:14,179
Retail traders always lose.
495
00:25:16,014 --> 00:25:18,142
We've actually been short GameStop
since 2014.
496
00:25:18,142 --> 00:25:23,188
The company is a complete disaster.
They've had six CEOs in two years.
497
00:25:24,189 --> 00:25:26,692
Guess these guys are ignoring
obvious secular market trends.
498
00:25:26,692 --> 00:25:29,820
Or they're...
the stupidest people on earth.
499
00:25:29,820 --> 00:25:32,281
You're shorting more right now,
aren't you?
500
00:25:32,281 --> 00:25:34,783
600,000 shares, maybe.
501
00:25:35,367 --> 00:25:36,994
Dumb money, man.
502
00:25:36,994 --> 00:25:38,495
I'm happy to take it.
503
00:25:42,499 --> 00:25:45,377
Mmm! Mmm-mmm-mmm!
504
00:25:46,003 --> 00:25:47,713
Mmm-mmm-mmm!
505
00:25:47,713 --> 00:25:49,673
Listen up, retards,
506
00:25:49,673 --> 00:25:54,678
Melvin Capital has declared war on GME
by shorting the stock even more.
507
00:25:54,678 --> 00:25:58,766
This is our call to activate
diamond hands, my fellow warriors.
508
00:25:58,766 --> 00:26:03,771
We will not let the gay bears defeat us.
We are on a mission to the fucking moon.
509
00:26:03,771 --> 00:26:06,815
This is one that is bigger
than your personal gains.
510
00:26:06,815 --> 00:26:09,443
More than just tendies for a new Lambo.
511
00:26:09,443 --> 00:26:13,614
This is our chance to rise up together.
To stick it to the big man.
512
00:26:13,614 --> 00:26:15,866
Squeezing Melvin by the fucking balls
513
00:26:15,866 --> 00:26:18,786
with the collective power
of diamond handing autists.
514
00:26:19,369 --> 00:26:22,790
Wall Street Bets I thought were a bunch
of idiots just throwing money at a stock
515
00:26:22,790 --> 00:26:24,500
because they thought it was funny.
516
00:26:24,500 --> 00:26:25,834
I was wrong.
517
00:26:25,834 --> 00:26:28,378
Now I see what Wall Street Bets really is.
518
00:26:28,378 --> 00:26:31,423
- It is a revolution.
- This is one of those rare moments
519
00:26:31,423 --> 00:26:33,550
where Wall Street are the ones
getting screwed over.
520
00:26:33,550 --> 00:26:35,260
And when we decide we're hungry,
521
00:26:35,260 --> 00:26:37,721
there is very little
the rich can do to stop us
522
00:26:37,721 --> 00:26:39,890
- from beating them.
- It's a GameStop to stop the game.
523
00:26:39,890 --> 00:26:42,059
- Power to the people.
- I'm jerking off right now.
524
00:26:42,059 --> 00:26:43,101
Jerking off right now.
525
00:26:43,101 --> 00:26:45,729
So welcome aboard, grab your peanuts,
526
00:26:45,729 --> 00:26:47,689
and get the fuck in, retard.
527
00:26:47,689 --> 00:26:49,858
Ho, ho, ho!
528
00:26:49,858 --> 00:26:55,280
What up, everybody? Merry Christmas,
Happy New Year's, happy holidays. Uh...
529
00:26:55,280 --> 00:26:57,699
2020... See ya.
530
00:26:57,699 --> 00:27:00,828
2020 has been a very rough year
for my family too.
531
00:27:00,828 --> 00:27:03,914
So this GameStop news
has been a bit of a bright spot.
532
00:27:03,914 --> 00:27:06,500
Uh, look at this, I mean, where it's at.
533
00:27:06,500 --> 00:27:10,212
It's a five bagger
from where it was over the summer.
534
00:27:10,212 --> 00:27:14,216
You don't often see a thesis
play out like this.
535
00:27:14,216 --> 00:27:15,300
So we gotta--
536
00:27:15,300 --> 00:27:17,928
We can't take it for granted, right?
We gotta appreciate it.
537
00:27:18,846 --> 00:27:21,265
Thank you, Santa. Right.
538
00:27:22,015 --> 00:27:25,811
Uh, I wanted to say cheers all of you.
539
00:27:25,811 --> 00:27:28,063
You're why I'm here in the first place.
540
00:27:28,730 --> 00:27:31,817
Uh, it's fun to talk about.
I mean, I figure,
541
00:27:31,817 --> 00:27:34,403
if I worked at a hedge fund,
I'd compare notes with my colleagues.
542
00:27:34,403 --> 00:27:36,989
But I don't.
I'm stuck at home like you guys. So...
543
00:27:36,989 --> 00:27:39,366
Uh, I believe in this stock.
544
00:27:39,366 --> 00:27:41,702
And I believe in this community.
545
00:27:42,369 --> 00:27:43,579
Um...
546
00:27:43,579 --> 00:27:48,458
I'll be honest, uh,
it's been kind of a shitty year.
547
00:27:49,710 --> 00:27:54,464
Uh, for a lot of people. Lotta people
lost people the past 12 months. I did too.
548
00:27:54,464 --> 00:27:56,717
Uh, my sister, Sara.
549
00:27:56,717 --> 00:27:57,801
Uh...
550
00:28:05,767 --> 00:28:07,644
I don't talk about it much.
551
00:28:09,438 --> 00:28:11,398
But it felt right to tell you.
552
00:28:11,398 --> 00:28:13,734
Uh, we've been through so much together.
553
00:28:13,734 --> 00:28:16,862
You've made me feel a part of something,
something big.
554
00:28:17,821 --> 00:28:20,657
So, uh, Merry Christmas. Cheers.
555
00:28:54,524 --> 00:28:55,651
I like your car.
556
00:28:58,153 --> 00:28:59,363
It's a classic.
557
00:28:59,363 --> 00:29:01,031
- '95.
- Yes!
558
00:29:01,031 --> 00:29:02,908
Sadly, it's a gas-guzzler.
559
00:29:02,908 --> 00:29:05,410
Yeah, yup, this one too.
560
00:29:06,370 --> 00:29:10,415
But she's such a beauty
I couldn't stand to trade her.
561
00:29:10,415 --> 00:29:12,084
'96 Honda Accord?
562
00:29:12,084 --> 00:29:15,504
Uh, 2003. Not quite a classic.
563
00:29:23,887 --> 00:29:27,975
It's kinda weird to talk to someone
and see their whole face. Right?
564
00:29:27,975 --> 00:29:29,518
It's been so long.
565
00:29:30,352 --> 00:29:34,106
I... I work at a hospital,
you could probably tell.
566
00:29:34,106 --> 00:29:35,357
Essential worker.
567
00:29:35,941 --> 00:29:37,359
Thank you for everything you do.
568
00:29:37,359 --> 00:29:38,652
Oh, you're very welcome.
569
00:29:50,122 --> 00:29:51,540
Hey, uh...
570
00:29:52,666 --> 00:29:54,084
Have a good night.
571
00:29:55,002 --> 00:29:56,128
Cool.
572
00:29:56,920 --> 00:29:58,422
Safe travels.
573
00:30:15,105 --> 00:30:17,274
Remember when
you were just making fun of me
574
00:30:17,274 --> 00:30:20,694
- and now you're literally obsessed.
- No, I don't recall.
575
00:30:20,694 --> 00:30:23,655
- How much are you up?
- 948.
576
00:30:23,655 --> 00:30:26,867
Stock dipped a little,
it was like 2,000 before Christmas.
577
00:30:26,867 --> 00:30:28,493
Maybe you should sell.
578
00:30:30,662 --> 00:30:32,789
No. It's not about the money.
579
00:30:32,789 --> 00:30:34,791
The stock market is not about the money?
580
00:30:34,791 --> 00:30:37,377
No. You just gotta read
some of the stuff on here.
581
00:30:37,961 --> 00:30:41,673
Never understood why my dad
was so pissed off about this whole thing,
582
00:30:41,673 --> 00:30:42,799
but now I do.
583
00:30:44,384 --> 00:30:45,886
I told you about his store, right?
584
00:30:45,886 --> 00:30:47,345
Costco?
585
00:30:48,013 --> 00:30:49,514
Shopko.
586
00:30:49,514 --> 00:30:51,183
It was like, this like...
587
00:30:52,017 --> 00:30:53,810
big chain in our area.
588
00:30:54,644 --> 00:30:58,523
My dad, he worked his way all the way up
from bag boy to general manager.
589
00:30:59,274 --> 00:31:01,985
Then one of these Wall Street funds
came in, bought it,
590
00:31:01,985 --> 00:31:06,448
and vampire-sucked all the money out of it
and then declared bankruptcy.
591
00:31:06,448 --> 00:31:07,616
Fuck.
592
00:31:08,742 --> 00:31:09,826
Yeah.
593
00:31:11,536 --> 00:31:14,581
He lost his pension. Everything.
594
00:31:15,916 --> 00:31:18,794
It's why he had to work at
Pick 'n fuckin' Save till the day he died.
595
00:31:18,794 --> 00:31:21,254
And now that's why
I'm up to my ass in debt.
596
00:31:22,589 --> 00:31:25,258
And these fuckers are trying to do
the same thing to GameStop.
597
00:31:26,718 --> 00:31:27,886
Fuck 'em.
598
00:31:29,513 --> 00:31:30,847
Fuck 'em all.
599
00:31:52,494 --> 00:31:54,371
- Wait, look.
- Hm?
600
00:31:54,371 --> 00:31:55,789
Look at this.
601
00:31:55,789 --> 00:31:58,667
- This guy wants to CashApp me $100
- Shut the fuck up.
602
00:31:58,667 --> 00:32:02,712
to send him a selfie. Or 500
if I live chat him from a bubble bath.
603
00:32:02,712 --> 00:32:04,631
Yes! Yes, we should do it.
604
00:32:04,631 --> 00:32:06,842
- What?
- Yes, we do it.
605
00:32:06,842 --> 00:32:09,302
And then put the money into GameStop.
606
00:32:09,845 --> 00:32:13,598
- Who am I talking to right now?
- C'mon, bitch, let's go get a tub.
607
00:32:15,308 --> 00:32:17,769
♪ We got this motherfucker lit
On some money shit ♪
608
00:32:17,769 --> 00:32:20,772
♪ Yeah, everybody's shit
Everybody's shit, yeah ♪
609
00:32:20,772 --> 00:32:23,316
♪ We got this motherfucker lit
On some money shit ♪
610
00:32:23,316 --> 00:32:25,986
♪ Everybody's shit
Everybody's shit ♪
611
00:32:25,986 --> 00:32:27,320
♪ Unh, please don't pretend... ♪
612
00:32:27,320 --> 00:32:28,488
Your entire business
613
00:32:28,488 --> 00:32:30,615
is kids spending their lunch money
on random stocks.
614
00:32:30,615 --> 00:32:32,450
They come to you because it's free.
615
00:32:32,450 --> 00:32:36,538
But if you don't charge a commission
on their trades,
616
00:32:36,538 --> 00:32:38,456
how do you make money?
617
00:32:39,416 --> 00:32:45,088
The idea for Robinhood really came out
of the Occupy Wall Street movement.
618
00:32:45,088 --> 00:32:46,798
All those people
with no way of getting in.
619
00:32:46,798 --> 00:32:49,134
Is that what Occupy was about?
620
00:32:49,134 --> 00:32:51,928
I mean, were they trying to get in or...
621
00:32:51,928 --> 00:32:54,139
So we said, it's not enough to occupy.
622
00:32:54,139 --> 00:32:57,100
- We need to democratize Wall Street.
- Nat, I'm not sure you know this,
623
00:32:57,100 --> 00:32:58,602
but Baiju and I are both immigrants.
624
00:32:58,602 --> 00:33:00,395
I was born in Bulgaria,
625
00:33:00,395 --> 00:33:03,064
and Baiju's parents immigrated from India
to the Deep South.
626
00:33:03,940 --> 00:33:07,611
Can you imagine growing up
in rural Virginia with a name like
627
00:33:07,611 --> 00:33:10,655
Baiju Prafulkumar Bhatt?
628
00:33:10,655 --> 00:33:13,992
We created commission-free trading
so that anyone can get in the game.
629
00:33:13,992 --> 00:33:17,537
You don't even need a bank account.
People have really responded.
630
00:33:17,537 --> 00:33:21,499
We've added 5 million users,
uh, in the last six months,
631
00:33:21,499 --> 00:33:24,336
- for a total of, um...
- Close to 20 at this point. Million.
632
00:33:24,336 --> 00:33:26,171
So, you're one of these tech companies
633
00:33:26,171 --> 00:33:28,506
that's exploded growth-wise,
but doesn't make any money.
634
00:33:28,506 --> 00:33:30,342
- We make money.
- But how?
635
00:33:30,342 --> 00:33:33,345
- If you don't charge commission then...
- From interest on people's accounts.
636
00:33:33,345 --> 00:33:34,930
But your users are mostly young.
637
00:33:34,930 --> 00:33:37,724
So, how much money can they
really be keeping in their account?
638
00:33:37,724 --> 00:33:39,351
There's also payment for order flow.
639
00:33:39,351 --> 00:33:40,268
What's that?
640
00:33:40,268 --> 00:33:43,146
We prefer the term "stock order routing."
641
00:33:43,146 --> 00:33:45,106
When you buy or sell a stock on our app,
642
00:33:45,106 --> 00:33:47,901
we send your order to market makers,
who process the order.
643
00:33:47,901 --> 00:33:50,278
They pay us a tiny rebate on every trade.
644
00:33:50,278 --> 00:33:52,072
- Tiny.
- But it adds up.
645
00:33:52,072 --> 00:33:54,407
We should really get back to how we...
started our company.
646
00:33:54,407 --> 00:33:55,909
What market maker do you work with?
647
00:33:55,909 --> 00:33:58,203
A few. Citadel Securities mostly.
648
00:33:58,203 --> 00:34:00,580
Ken Griffin's firm?
Isn't that a hedge fund?
649
00:34:00,580 --> 00:34:04,167
Well, Ken Griffin's hedge fund
is called Citadel.
650
00:34:04,167 --> 00:34:06,836
But Citadel Securities
is a completely different company.
651
00:34:06,836 --> 00:34:08,630
Also owned by Ken Griffin?
652
00:34:10,048 --> 00:34:11,132
All right,
653
00:34:11,800 --> 00:34:14,469
we weren't gonna do this,
but we'll give you a scoop.
654
00:34:15,136 --> 00:34:16,972
Off the record for now.
655
00:34:17,639 --> 00:34:18,682
Okay.
656
00:34:20,016 --> 00:34:21,935
We're looking to IPO soon.
657
00:34:23,812 --> 00:34:26,314
Damn. Okay.
658
00:34:27,440 --> 00:34:28,275
That's big.
659
00:34:29,776 --> 00:34:32,737
♪ Girl, I can buy your ass the world
With my paystub ♪
660
00:34:32,737 --> 00:34:36,116
♪ Ooh, that pussy good
Won't you sit it on my taste bloods? ♪
661
00:34:36,116 --> 00:34:39,411
♪ I get way too petty
Once you let me do the extras ♪
662
00:34:39,411 --> 00:34:42,372
♪ Pull up on your block then break it down
We playin' Tetris ♪
663
00:34:42,372 --> 00:34:45,583
♪ AM to the PM, PM to the AM, funk ♪
664
00:34:45,583 --> 00:34:48,795
♪ Piss out your per diem
You just gotta hate 'em, funk ♪
665
00:34:48,795 --> 00:34:50,255
♪ If I quit your BM ♪
666
00:34:50,255 --> 00:34:52,465
♪ Hold up
Sit down, lil bitch ♪
667
00:34:52,465 --> 00:34:54,384
♪ Be humble, lil bitch... ♪
668
00:34:54,384 --> 00:34:55,760
Okay, don't say the bad word.
669
00:34:55,760 --> 00:34:57,012
♪ Be humble ♪
670
00:34:57,012 --> 00:34:58,680
♪ Sit down ♪
671
00:34:58,680 --> 00:35:00,265
♪ ...be humble... ♪
672
00:35:00,265 --> 00:35:02,934
♪ Sit down, be humble ♪
673
00:35:03,560 --> 00:35:04,853
- ♪ Sit down ♪
- ♪ Sit down ♪
674
00:35:04,853 --> 00:35:06,771
- ♪ ...be humble ♪
- ♪ Hold up, lil bitch ♪
675
00:35:06,771 --> 00:35:09,524
- ♪ Sit down, be humble ♪
- ♪ Sit down, lil bitch ♪
676
00:35:09,524 --> 00:35:11,651
- ♪ Bitch, sit down ♪
- ♪ Hold up... ♪
677
00:35:11,651 --> 00:35:13,903
♪ Be humble, sit down, lil bitch ♪
678
00:35:13,903 --> 00:35:16,156
Kev, please.
Your father needs to concentrate.
679
00:35:16,156 --> 00:35:17,365
♪ Well, sit down, lil bitch ♪
680
00:35:17,365 --> 00:35:20,243
Drove long-haul for forty years.
I don't need to concentrate.
681
00:35:20,243 --> 00:35:22,662
- Fine. I need to concentrate.
682
00:35:22,662 --> 00:35:24,914
- What do you need to concentrate about?
683
00:35:24,914 --> 00:35:26,082
What?
684
00:35:26,082 --> 00:35:28,293
I thought they were veering over
into our lane.
685
00:35:28,293 --> 00:35:30,879
Nobody was veering, Elaine.
It's okay.
686
00:35:34,841 --> 00:35:36,885
You talk to any of the girls
at the clinic?
687
00:35:36,885 --> 00:35:38,595
A few of them have called.
688
00:35:41,890 --> 00:35:43,308
I miss it.
689
00:35:43,308 --> 00:35:45,143
Boys, never retire.
690
00:35:45,810 --> 00:35:47,479
Keith, never retire.
691
00:35:48,146 --> 00:35:50,148
Kevin, if you ever get a job,
never retire.
692
00:35:50,148 --> 00:35:51,232
I have a job!
693
00:35:51,232 --> 00:35:53,526
Yet you still live with Ma and Dad.
694
00:35:53,526 --> 00:35:57,155
Oh, you're some big professional now
cuz you're fucking king dork on YouTube?
695
00:35:57,155 --> 00:35:58,490
Just one of many dorks.
696
00:35:58,490 --> 00:36:00,825
This asshole
thinks he's Jimmy Buffett now.
697
00:36:00,825 --> 00:36:02,410
- C'mon.
- Warren Buffett.
698
00:36:02,410 --> 00:36:04,454
- Warren Buffett.
- See?
699
00:36:04,454 --> 00:36:07,457
You're not either of the Buffetts, Kitty!
700
00:36:10,710 --> 00:36:11,961
You're Ballz?
701
00:36:15,256 --> 00:36:16,966
- Hey!
- Ah, good Christ.
702
00:36:16,966 --> 00:36:17,884
- Fellas.
- Ma.
703
00:36:17,884 --> 00:36:20,345
- Drop! Stop it!
704
00:36:24,808 --> 00:36:25,975
Door Dash is not a job.
705
00:36:27,143 --> 00:36:28,186
MassMutual's a job.
706
00:36:28,186 --> 00:36:30,438
- A job's got business cards.
- Door Dash is a job.
707
00:36:30,438 --> 00:36:31,731
Okay, I'm a first responder.
708
00:36:31,731 --> 00:36:34,526
And second of all, Ma,
nobody uses business cards anymore.
709
00:36:36,277 --> 00:36:38,196
We're proud of you, honey.
710
00:36:39,239 --> 00:36:40,490
Get a room.
711
00:37:00,385 --> 00:37:03,388
Take your time. I'll be in the car.
712
00:37:15,567 --> 00:37:16,901
Yeah.
713
00:37:25,493 --> 00:37:26,786
Love you.
714
00:37:50,852 --> 00:37:52,437
It has been dragging on.
715
00:37:52,437 --> 00:37:54,731
Honestly, I don't know
when we'll be able to start demo
716
00:37:54,731 --> 00:37:56,566
because local ordinances are a nightmare.
717
00:37:56,566 --> 00:37:59,819
My heart bleeds for you.
Having to borrow a tennis court.
718
00:37:59,819 --> 00:38:01,613
"Borrower is slave to the lender."
719
00:38:01,613 --> 00:38:02,655
Is that Buffett?
720
00:38:02,655 --> 00:38:05,867
It's the Bible. Uh, Proverbs.
My Grandpa Melvin used to say it.
721
00:38:05,867 --> 00:38:07,577
When he was starting
his convenience store,
722
00:38:07,577 --> 00:38:08,912
he refused to borrow one dollar.
723
00:38:08,912 --> 00:38:09,954
It was a point of pride.
724
00:38:09,954 --> 00:38:11,748
Ah, yes, your humble beginnings.
725
00:38:11,748 --> 00:38:15,877
"Grandpa Melvin" Capital,
now with 16 billion under management.
726
00:38:16,461 --> 00:38:19,130
Better than "Citadel."
You sound like you're preparing for war.
727
00:38:19,130 --> 00:38:20,256
I'm a man of the people.
728
00:38:20,256 --> 00:38:21,466
You rented out a resort,
729
00:38:21,466 --> 00:38:24,886
and relocated your entire firm here
so you could stay open during lockdown.
730
00:38:24,886 --> 00:38:28,139
Says the man who flew his whole firm
down private just for a party.
731
00:38:28,139 --> 00:38:30,058
And anyway,
what kind of company shuts down
732
00:38:30,058 --> 00:38:31,935
just because the government tells them to?
733
00:38:31,935 --> 00:38:34,145
All the ones in your short portfolio.
734
00:38:34,145 --> 00:38:36,105
- And yours.
- Ah!
735
00:38:36,105 --> 00:38:38,733
- All except for one actually.
- Which one?
736
00:38:38,733 --> 00:38:40,693
- GameStop.
- How?
737
00:38:40,693 --> 00:38:43,363
They sell computer mouses. Mice?
738
00:38:43,363 --> 00:38:45,532
They claim it makes them
an essential business.
739
00:38:45,532 --> 00:38:48,117
That is the smartest dumbest thing
I've ever heard.
740
00:38:48,117 --> 00:38:50,912
I know, it's actually a fun one.
The revenue's in the toilet.
741
00:38:50,912 --> 00:38:53,706
632 million net loss last year.
742
00:38:53,706 --> 00:38:56,751
They'd be better off just burning
the whole company down.
743
00:38:56,751 --> 00:38:59,921
The stock though, it has been volatile.
It's been up.
744
00:38:59,921 --> 00:39:02,507
- Buybacks?
- Retail traders.
745
00:39:02,507 --> 00:39:04,717
- Bro. I don't have it, bro.
746
00:39:04,717 --> 00:39:05,843
- Damn, brother.
- Sorry, man.
747
00:39:05,843 --> 00:39:07,303
- Yeah, yeah, yeah.
- Have a good one, bro.
748
00:39:07,303 --> 00:39:09,722
- Yo, stay up though! Aight, bro. Aight.
- Yeah.
749
00:39:15,395 --> 00:39:17,021
I'm gonna put these back real quick.
750
00:39:24,529 --> 00:39:25,697
Hey, Marcos.
751
00:39:26,656 --> 00:39:27,824
Yes, Bradley?
752
00:39:29,117 --> 00:39:31,661
Uh, I... I love how you engaged
with that customer,
753
00:39:31,661 --> 00:39:33,955
but we really wanna close
those pre-owned sales.
754
00:39:33,955 --> 00:39:35,331
The margin's more than double.
755
00:39:35,331 --> 00:39:36,833
Oh shit, double.
756
00:39:36,833 --> 00:39:38,793
Yeah, you didn't do
any of the five prongs, dude:
757
00:39:38,793 --> 00:39:42,255
Pre-orders. Reward-card subscriptions.
Used sales. New sales. Trade-ins.
758
00:39:42,255 --> 00:39:44,048
Yeah, I mean,
when I was a 16-year old gamer,
759
00:39:44,048 --> 00:39:46,050
all I wanted was a reward-card
subscription.
760
00:39:46,050 --> 00:39:49,387
$5 cash back monthly,
20 points for every dollar spent...
761
00:39:49,971 --> 00:39:50,805
Don't get me started.
762
00:39:50,805 --> 00:39:53,391
A lot of really smart people in corporate
put this plan together.
763
00:39:53,391 --> 00:39:55,810
Yeah, but any of them
ever played a video game?
764
00:39:55,810 --> 00:39:58,771
Uh, it doesn't matter, Marcos,
because they own our asses.
765
00:39:58,771 --> 00:40:01,941
Yo, they don't own my ass, so.
766
00:40:02,483 --> 00:40:03,568
They do,
767
00:40:03,568 --> 00:40:05,028
and they always will.
768
00:40:08,114 --> 00:40:09,157
Mask.
769
00:40:11,075 --> 00:40:12,327
Hey, Bradley.
770
00:40:15,455 --> 00:40:17,540
You ever heard of a short squeeze?
771
00:40:25,298 --> 00:40:27,091
Is that a sexual thing?
772
00:40:28,926 --> 00:40:30,303
No.
773
00:40:31,763 --> 00:40:33,139
Oh, yeah!
774
00:40:33,139 --> 00:40:35,767
Here's what's going on.
Late last year,
775
00:40:35,767 --> 00:40:40,438
hedge funds started shorting stock
in the retail store GameStop.
776
00:40:40,438 --> 00:40:44,025
Meaning they had bet against it
and needed it to drop in price
777
00:40:44,025 --> 00:40:47,820
for their investments to be successful.
Now unfortunately for the hedge funds,
778
00:40:47,820 --> 00:40:53,368
small investors started buying the stock
led by something called Wall Street Bets,
779
00:40:53,368 --> 00:40:57,038
a popular, juvenile,
foul-mouthed Reddit page.
780
00:40:57,038 --> 00:40:58,873
And when Wall Street Bets noticed
781
00:40:58,873 --> 00:41:02,710
that hedge funds had taken
a large short position in GameStop stock,
782
00:41:02,710 --> 00:41:05,380
they decided to punish
the Wall Street big boys
783
00:41:05,380 --> 00:41:08,216
and launched a coordinated buying spree.
784
00:41:08,841 --> 00:41:11,844
The revolutionaries on Reddit
are spanking Wall Street's ass.
785
00:41:11,844 --> 00:41:17,934
GameStop shares absolutely going nuts.
I think it was up over 70% at one point.
786
00:41:17,934 --> 00:41:19,894
- Massive short squeeze,
- Show me...
787
00:41:19,894 --> 00:41:22,647
- closing there, with a gain of 51%
- the tendiesss!
788
00:41:22,647 --> 00:41:24,607
after traders on message boards...
789
00:41:28,027 --> 00:41:29,445
What?
790
00:41:29,445 --> 00:41:34,450
Happy Wednesday! Happy hump day!
Gee... look at this!
791
00:41:34,450 --> 00:41:35,868
Look at this shit!
792
00:41:35,868 --> 00:41:39,080
A 90% increase in one day?
In one fucking day!
793
00:41:39,080 --> 00:41:42,458
We're goin' to the mooooon.
794
00:41:42,458 --> 00:41:45,628
Whoa-ho-ho-ho!
795
00:41:45,628 --> 00:41:48,256
Okay, now, if you've been watching
this price action,
796
00:41:48,256 --> 00:41:49,424
this is what I'm talking about.
797
00:41:49,424 --> 00:41:51,509
Yeah, but you can really feel that panic
from Wall Street, right.
798
00:41:51,509 --> 00:41:53,886
When they... we're starting to feel
a little squeeze. Starting to feel it.
799
00:41:53,886 --> 00:41:55,430
You're starting to really feel
a little squeeze.
800
00:41:55,430 --> 00:41:58,224
I need a drink. I need a drink.
I know we all drinking tonight.
801
00:41:58,224 --> 00:41:59,767
We fucking did it!
802
00:41:59,767 --> 00:42:02,562
We started from the bottom
and now we're here!
803
00:42:02,562 --> 00:42:05,940
- Let's raise a glass
804
00:42:05,940 --> 00:42:09,861
to a great company
that's undervalued, cheers.
805
00:42:10,445 --> 00:42:14,073
Soon may the tendiemen come...
Show me the tendies. Show me the tendies.
806
00:42:14,073 --> 00:42:15,324
I got 'em right here.
807
00:42:15,324 --> 00:42:18,703
Show me the tendies. I just gotta...
I just gotta dip.
808
00:42:18,703 --> 00:42:21,414
I just gotta... I just gotta dip. Ah!
809
00:42:22,832 --> 00:42:23,666
Mmm.
810
00:42:23,666 --> 00:42:26,502
♪ No way
And I would do... ♪
811
00:42:26,502 --> 00:42:29,338
Mmm-mmm-mmm.
812
00:42:29,338 --> 00:42:31,048
11 fucking million dollars?
813
00:42:31,048 --> 00:42:32,008
What the fuck!
814
00:42:32,008 --> 00:42:34,761
- Oh, language. The baby's here.
- What are you gonna do?
815
00:42:34,761 --> 00:42:37,054
Get a Ferrari? A Lambo?
816
00:42:37,054 --> 00:42:38,806
Caroline, you're gonna ask for
a big diamond, right?
817
00:42:38,806 --> 00:42:40,183
I have a diamond.
818
00:42:40,183 --> 00:42:42,643
Keith, you get a fucking diamond!
If I were you, I'd look like
819
00:42:42,643 --> 00:42:45,229
- DJ Khaled right now.
- Kev! It's not real.
820
00:42:45,229 --> 00:42:46,856
I mean, it's real, but it's just paper.
821
00:42:46,856 --> 00:42:49,942
Just on paper! You're gonna sell, right?
822
00:42:49,942 --> 00:42:51,235
- No!
- Maybe.
823
00:42:51,778 --> 00:42:54,489
I mean, I don't know. Uh...
824
00:42:54,489 --> 00:42:57,992
- We... we haven't talked about it.
- What the fuck is wrong with you?
825
00:42:57,992 --> 00:43:01,245
I'm riding Mom's bike every day
to Dorchester to drop off cheeseburgers
826
00:43:01,245 --> 00:43:02,705
because you won't let me use
your fucking car.
827
00:43:02,705 --> 00:43:04,874
And you're mister "I won't sell
and take millions of dollars."
828
00:43:04,874 --> 00:43:07,210
And, well, what you do with your life
is your choice.
829
00:43:07,210 --> 00:43:10,129
You think I wanted to get laid off
from Dick's during a global pandemic?
830
00:43:10,129 --> 00:43:13,341
I love those sneakers, man.
I loved that store. I love Dick's.
831
00:43:13,341 --> 00:43:16,427
- Mom's bike doesn't even have gears.
- We don't know if it's reached the top.
832
00:43:16,427 --> 00:43:19,347
The stock jumped like 23% yesterday.
833
00:43:19,347 --> 00:43:21,224
- Double from Friday's close.
- But he's right.
834
00:43:21,224 --> 00:43:23,601
I mean, 11 million dollars
is a lot of fucking dough.
835
00:43:23,601 --> 00:43:24,852
- Thank you!
- Okay, yes,
836
00:43:24,852 --> 00:43:27,980
but since Ryan Cohen
joined the board, the...
837
00:43:27,980 --> 00:43:29,315
This fucking guy.
838
00:43:29,315 --> 00:43:31,734
...got a 2 billion market cap.
I mean, could it go pff? Yeah.
839
00:43:31,734 --> 00:43:34,695
But that's not what I'm seeing.
That's not what I'm seeing, Kev.
840
00:43:35,780 --> 00:43:37,532
Kev? You there?
841
00:43:40,159 --> 00:43:41,285
Did he hang up?
842
00:43:41,994 --> 00:43:43,329
Yeah.
843
00:43:53,840 --> 00:43:55,716
Fuck, I think hold.
844
00:43:59,011 --> 00:44:01,722
- Girl, you gotta sell.
- I'm not selling.
845
00:44:01,722 --> 00:44:02,932
How much are you up?
846
00:44:02,932 --> 00:44:04,934
58,000 and some change.
847
00:44:07,395 --> 00:44:09,814
Baby girl, what the fuck?
848
00:44:09,814 --> 00:44:11,941
You need to get out while you can.
849
00:44:11,941 --> 00:44:14,610
- Don't be an idiot.
- You remember red headband guy.
850
00:44:14,610 --> 00:44:18,114
He's worth 11 million dollars.
And he's not selling.
851
00:44:18,114 --> 00:44:20,157
- No fucking way.
- Yes fucking way.
852
00:44:20,157 --> 00:44:22,785
This is what I'm telling you.
Diamond hands.
853
00:44:23,953 --> 00:44:27,498
Diamond hands. You hold the line
no matter what the market does.
854
00:44:27,498 --> 00:44:28,916
No matter what Wall Street says.
855
00:44:28,916 --> 00:44:30,960
What happens
when everyone else sells first,
856
00:44:30,960 --> 00:44:33,713
and before you get out
you've lost all your money?
857
00:44:33,713 --> 00:44:35,464
Are there any volunteers?
858
00:44:35,464 --> 00:44:37,341
- I'm...
- Anyone?
859
00:44:37,341 --> 00:44:39,552
- We're gonna hold the line.
- C'mon.
860
00:44:39,552 --> 00:44:41,679
- Someone has to go first.
- Okay, yeah. I'll do it.
861
00:44:47,059 --> 00:44:48,603
Here we go everyone.
862
00:44:48,603 --> 00:44:51,606
The first Covid vaccine
at Pittsburgh Presbyterian.
863
00:44:51,606 --> 00:44:53,065
Ah!
864
00:44:53,065 --> 00:44:54,525
Fuck! Fuck!
865
00:44:54,525 --> 00:44:58,529
Fuck! Guys, we need your help.
What should we do?
866
00:44:59,780 --> 00:45:03,618
So listen, my girl bought in under 20
and now it is over 60.
867
00:45:03,618 --> 00:45:05,536
So like, should she sell?
868
00:45:05,536 --> 00:45:07,830
On the one hand, she has principles.
869
00:45:08,873 --> 00:45:12,251
On the other,
she has 100k in student debt. So...
870
00:45:12,251 --> 00:45:15,004
One way you could think
about the comparison between
871
00:45:15,004 --> 00:45:17,632
Marxism and Utilitarian tradition
872
00:45:17,632 --> 00:45:21,344
is that they both have a micro story
and a macro story.
873
00:45:21,344 --> 00:45:23,721
When you think of Utilitarian tradition...
874
00:45:23,721 --> 00:45:28,142
The only thing that would convince her
to sell is if Roaring Kitty sold.
875
00:45:29,352 --> 00:45:31,771
So... Where my pussy at?
876
00:45:31,771 --> 00:45:34,857
You have the micro story
for the Pareto principle
877
00:45:34,857 --> 00:45:37,610
for how each individual action will go.
878
00:45:38,444 --> 00:45:39,695
But you also have a macro story.
879
00:45:39,695 --> 00:45:41,822
Where my pussy at? Where my pussy at?
880
00:45:41,822 --> 00:45:43,991
- Where my pussy at?!
- Sorry.
881
00:45:43,991 --> 00:45:47,244
- Where my pussy aaaaatttt?!
882
00:45:47,244 --> 00:45:48,788
I'm so sorry.
883
00:45:48,788 --> 00:45:52,166
Hey, hey, where my pussy at? Ha!
884
00:45:52,166 --> 00:45:55,044
- Where is my pussy at?
- It's not in here.
885
00:46:15,982 --> 00:46:17,733
Whoa,
886
00:46:17,733 --> 00:46:20,319
- wait, listen, hold on.
887
00:46:21,654 --> 00:46:25,324
"Future generations will look back
and say 'Good men stood here,
888
00:46:25,324 --> 00:46:28,035
good men fought,
and died on this ground...
889
00:46:28,035 --> 00:46:32,707
as they point to a TradingView daily chart
of GME zoomed in on January.'
890
00:46:33,374 --> 00:46:35,042
Since the spawn of the stonkmarket,
891
00:46:35,042 --> 00:46:37,670
two classes of people
have been pitted against each other..."
892
00:46:37,670 --> 00:46:42,258
"Eternal enemies, forever forced and
fated to combat: lions and hyenas."
893
00:46:42,258 --> 00:46:46,053
"These lions...
these Wall Street hedge funds have it all.
894
00:46:46,053 --> 00:46:47,221
Billions of dollars,
895
00:46:47,221 --> 00:46:52,184
bail outs for reckless trades,
these dirty fucking criminal bastards."
896
00:46:52,184 --> 00:46:56,939
Yup, these fucking motherfuckers.
897
00:46:56,939 --> 00:46:58,524
"And then there's us.
898
00:46:58,524 --> 00:47:03,195
The working man, the average Joe.
What do we have?
899
00:47:03,779 --> 00:47:06,574
What the fuck do we have?
900
00:47:06,574 --> 00:47:08,659
They literally call us 'dumb money.'"
901
00:47:08,659 --> 00:47:10,494
"These lions, these hedge fund guys,
902
00:47:10,494 --> 00:47:12,496
were born with silver spoons
in their mouths.
903
00:47:12,496 --> 00:47:14,123
The top 1% of the 1%.
904
00:47:14,123 --> 00:47:17,793
They have massive bank accounts,
eat medium rare Grade A Wagyu steak."
905
00:47:17,793 --> 00:47:20,171
What the fuck is that?
That sounds delicious.
906
00:47:20,171 --> 00:47:22,590
"With truffle shavings for lunch."
That's fuck!
907
00:47:22,590 --> 00:47:24,425
"They frequent the finest strip clubs.
908
00:47:24,425 --> 00:47:26,594
They have blow and escorts
on their yacht parties."
909
00:47:26,594 --> 00:47:28,512
Why do we hate these guys?
910
00:47:28,512 --> 00:47:30,556
"Then you know what
they will tell these escorts?"
911
00:47:30,556 --> 00:47:32,725
- What's an escort?
- Stop listening!
912
00:47:32,725 --> 00:47:37,021
"When the smoking hot blonde asks them,
'Like, how do you have so much money?'"
913
00:47:37,938 --> 00:47:42,777
"You know what they say? They say
'Ha, dumb money, babe. Dumb money.'"
914
00:47:44,987 --> 00:47:47,740
- Something's burning.
915
00:47:47,740 --> 00:47:50,284
Oh... damn it.
916
00:47:50,284 --> 00:47:52,119
- Shit!
- You said "shit".
917
00:48:00,961 --> 00:48:05,049
"Last, the GME trade is about
class warfare. Plain and simple.
918
00:48:05,758 --> 00:48:09,011
We may be hyenas, yes. But guess what?
919
00:48:09,011 --> 00:48:12,348
You put enough of us together,
and we can destroy a lion."
920
00:48:13,516 --> 00:48:16,352
It's on, motherfuckers!
921
00:48:18,521 --> 00:48:20,856
Aw, we coming for y'all.
922
00:48:20,856 --> 00:48:22,775
Y'all better get ready.
923
00:48:22,775 --> 00:48:24,026
We fucking coming for you.
924
00:48:24,026 --> 00:48:26,737
That is some nerdy shit, man.
925
00:48:27,404 --> 00:48:30,074
My brother is a fucking nerd.
926
00:48:36,413 --> 00:48:38,457
Fuck!
927
00:48:44,046 --> 00:48:46,841
Counting down from 5
and then I'm coming back in there.
928
00:48:46,841 --> 00:48:48,884
I don't think you want that.
929
00:48:50,427 --> 00:48:51,387
5.
930
00:48:52,012 --> 00:48:53,764
- 4.
- 3.
931
00:48:53,764 --> 00:48:55,015
2.
932
00:48:56,225 --> 00:48:57,601
Thank you.
933
00:48:57,601 --> 00:48:59,436
- How was your day?
- Long.
934
00:48:59,436 --> 00:49:04,024
It's so hard to keep them focused
on Zoom school. They're just not into it.
935
00:49:04,900 --> 00:49:06,527
How was your day?
936
00:49:06,527 --> 00:49:07,695
Good.
937
00:49:09,989 --> 00:49:12,449
You're not worried
about the short squeeze thing?
938
00:49:12,449 --> 00:49:14,535
The dam'll break next week.
939
00:49:14,535 --> 00:49:17,121
A few of them will decide it's gone
high enough, they'll cash out,
940
00:49:17,121 --> 00:49:20,207
the rest will follow,
whole thing will come crashing down.
941
00:49:20,207 --> 00:49:23,377
I can't think of the last short squeeze
that actually worked.
942
00:49:24,336 --> 00:49:25,671
Ackman and Herbalife.
943
00:49:26,255 --> 00:49:28,257
Before that... Piggly Wiggly?
944
00:49:28,257 --> 00:49:29,592
Piggly Wiggly.
945
00:49:29,592 --> 00:49:34,263
Yeah. 1923, a bear cartel was shorting
the Piggly Wiggly grocery store.
946
00:49:34,263 --> 00:49:39,310
The founder, he takes out a loan
for what would be $150 million today.
947
00:49:39,310 --> 00:49:41,770
He buys back almost all the stock,
like 99% of the stock.
948
00:49:41,770 --> 00:49:44,106
The price of the stock goes up 50%.
949
00:49:44,106 --> 00:49:46,358
- How much is GameStop up?
- Then, the exchange,
950
00:49:46,358 --> 00:49:48,235
they halt trading on the stock
951
00:49:48,235 --> 00:49:51,071
so the short sellers
can cover their positions.
952
00:49:51,071 --> 00:49:52,740
Is that legal?
953
00:49:52,740 --> 00:49:55,492
The founder had to declare bankruptcy. So...
954
00:49:56,368 --> 00:49:57,870
it was all fine in the end.
955
00:49:57,870 --> 00:50:00,414
And you knew all that or you looked it up?
956
00:50:01,707 --> 00:50:03,667
Every fund manager knows that story.
957
00:50:07,755 --> 00:50:09,131
You looked it up.
958
00:50:10,966 --> 00:50:12,843
Double checked some numbers maybe.
959
00:50:22,228 --> 00:50:25,147
Oh, do you see what's going on at GME?
960
00:50:25,147 --> 00:50:27,441
- There's more of these idiots.
- A lot more.
961
00:50:27,441 --> 00:50:31,362
- They won't hold much longer.
- Oh, Gabe, honey, they're holding.
962
00:50:31,362 --> 00:50:33,447
It just crossed a hundred.
963
00:50:35,741 --> 00:50:37,326
Gabe?
964
00:50:37,326 --> 00:50:38,827
Where are you?
965
00:50:43,249 --> 00:50:45,251
You should probably dial in.
966
00:50:45,251 --> 00:50:46,877
Yeah, be on in one sec.
967
00:50:46,877 --> 00:50:49,588
GameStop, extraordinary volatility today.
968
00:50:49,588 --> 00:50:51,840
You know, we might want
to make this the stock of the day.
969
00:50:51,840 --> 00:50:55,177
Now that it's gaining 103%.
That is volatility.
970
00:50:55,177 --> 00:50:57,179
I will tell you,
I've never seen anything like it.
971
00:50:57,179 --> 00:50:59,765
Um, I'm concerned about it deeply.
972
00:50:59,765 --> 00:51:02,059
I'm calling it the ultimate short squeeze.
973
00:51:02,059 --> 00:51:04,728
- How much money is being made...
- Holy fucking shit.
974
00:51:04,728 --> 00:51:07,064
...now we're gonna talk about GameStop.
Those shares...
975
00:51:07,064 --> 00:51:10,192
- nonstop earning about of 130% today.
- Holy fucking shit!
976
00:51:10,192 --> 00:51:12,278
As bullish retail traders
frenetically buy shares.
977
00:51:12,278 --> 00:51:13,195
Holy fucking shit!
978
00:51:13,195 --> 00:51:14,571
Yo, holy shit!
979
00:51:15,155 --> 00:51:16,949
- Shit balls.
- Holy shit!
980
00:51:16,949 --> 00:51:18,659
You look at the chart for the month.
981
00:51:18,659 --> 00:51:21,287
- It's up 220%.
- Oh, fuck!
982
00:51:21,870 --> 00:51:23,580
- Look there... It's crazy.
- Everything okay?
983
00:51:23,580 --> 00:51:25,332
Holy fucking shit!
984
00:51:25,332 --> 00:51:26,542
Holy fucking shit!
985
00:51:26,542 --> 00:51:30,212
...if you go short in some of these
elaborate options trades,
986
00:51:30,212 --> 00:51:32,423
you can lose money to infinity.
987
00:51:32,423 --> 00:51:36,093
GameStop now at 123
and change, another record high.
988
00:51:36,093 --> 00:51:37,094
Holy fucking shit!
989
00:51:37,094 --> 00:51:39,388
Completely disconnected
from the fundamentals.
990
00:51:39,388 --> 00:51:42,474
And this is very much being driven
by retail investors.
991
00:51:42,474 --> 00:51:44,268
Many of them trading on Robinhood.
992
00:51:44,268 --> 00:51:47,146
When the music stops,
somebody is gonna be left without a seat.
993
00:51:47,146 --> 00:51:48,856
This for casino money only.
994
00:51:48,856 --> 00:51:50,899
They're literally putting the game
in GameStop.
995
00:51:50,899 --> 00:51:52,943
...is the craziest I think I've ever seen.
996
00:51:52,943 --> 00:51:56,780
True investors never heard of Reddit
a few years ago.
997
00:51:56,780 --> 00:51:58,657
But for that to drive a short squeeze...
998
00:51:58,657 --> 00:52:00,117
It is Wall Street Bets.
999
00:52:00,117 --> 00:52:02,870
It's worth going to the site
because it is incredibly compelling.
1000
00:52:02,870 --> 00:52:05,706
You may think it's froth,
but they are using arguments
1001
00:52:05,706 --> 00:52:07,750
that they think hold up under scrutiny.
1002
00:52:07,750 --> 00:52:10,252
- I just like the stock!
- I can't look.
1003
00:52:10,252 --> 00:52:12,463
- I can't look. I can't look.
- It's up another 4%.
1004
00:52:12,463 --> 00:52:14,840
I'm gonna have a fucking heart attack.
Should we sell?
1005
00:52:14,840 --> 00:52:16,717
And betray your boyfriend?
Absolutely not. No.
1006
00:52:16,717 --> 00:52:18,719
- The stock is up 581%.
- Maybe.
1007
00:52:18,719 --> 00:52:20,888
...they are being very specific:
1008
00:52:20,888 --> 00:52:22,181
- To break the shorts.
- Yes.
1009
00:52:22,181 --> 00:52:24,308
I mean, what's going on
in GameStop right now
1010
00:52:24,308 --> 00:52:26,143
conceivably could take
a couple of firms out.
1011
00:52:26,143 --> 00:52:28,979
Hedge funds if they were
stupid enough to be short.
1012
00:52:28,979 --> 00:52:31,023
Babe, how much did we make today?
1013
00:52:32,483 --> 00:52:33,359
5 million.
1014
00:52:33,942 --> 00:52:35,444
And yesterday?
1015
00:52:35,444 --> 00:52:36,612
4 million.
1016
00:52:39,156 --> 00:52:39,990
Babe...
1017
00:52:40,699 --> 00:52:41,742
Yeah?
1018
00:52:42,701 --> 00:52:45,412
We're, like, really fucking rich.
1019
00:52:52,086 --> 00:52:53,837
How much did we lose today?
1020
00:52:56,382 --> 00:52:57,257
A billion.
1021
00:52:59,885 --> 00:53:00,803
And yesterday?
1022
00:53:02,429 --> 00:53:03,430
A billion.
1023
00:53:08,310 --> 00:53:11,105
Some news to bring you right now
is that Melvin Capital Management,
1024
00:53:11,105 --> 00:53:15,234
this is the hedge fund
that had shorted this company,
1025
00:53:15,234 --> 00:53:20,906
that had effectively been attacked
by an army of investors trying to push up
1026
00:53:20,906 --> 00:53:23,742
and press up the stock of GameStop.
1027
00:53:23,742 --> 00:53:26,328
They've taken a rather huge loss...
1028
00:53:26,328 --> 00:53:29,248
Sorry, if you could just
put your head up for a sec?
1029
00:53:29,915 --> 00:53:30,833
Thanks.
1030
00:53:31,333 --> 00:53:32,751
How long've you been down here?
1031
00:53:33,252 --> 00:53:34,086
A few months.
1032
00:53:35,546 --> 00:53:36,880
You like the weather?
1033
00:53:39,049 --> 00:53:42,511
Heat is nice. The humidity not as much.
1034
00:53:42,511 --> 00:53:44,346
I can see that.
1035
00:53:44,346 --> 00:53:47,933
- Hm.
- All right, I think you're good to go.
1036
00:54:13,625 --> 00:54:15,544
- Hey!
- Hey, man.
1037
00:54:15,544 --> 00:54:17,379
- Hi.
- It's good to connect.
1038
00:54:17,379 --> 00:54:18,589
You too. Great to be here.
1039
00:54:18,589 --> 00:54:19,756
- Excited.
- I'm glad you are.
1040
00:54:19,756 --> 00:54:21,550
Listen, I want to get right to it.
1041
00:54:21,550 --> 00:54:24,428
From what I'm hearing,
you guys are bankrupt.
1042
00:54:26,180 --> 00:54:27,681
No! What? No.
1043
00:54:27,681 --> 00:54:30,767
'Cause the word on the street
is that you're drowning.
1044
00:54:30,767 --> 00:54:33,020
No, that's... That's crazy.
1045
00:54:33,020 --> 00:54:35,522
- We're doing great.
- You're on the record with that?
1046
00:54:36,106 --> 00:54:36,982
Obviously.
1047
00:54:36,982 --> 00:54:40,235
All right, man. Well, then, we're gonna
get the live feed up right now,
1048
00:54:40,235 --> 00:54:42,905
and then we're gonna get to you
right after this next advertising break.
1049
00:54:42,905 --> 00:54:44,740
Perfect, great. Yes, can't wait.
1050
00:54:49,077 --> 00:54:51,079
All right, one more spot
and then you're gonna be up.
1051
00:54:51,079 --> 00:54:54,166
I really do think this is the right time
for you to communicate.
1052
00:54:54,166 --> 00:54:56,251
- Great, yes. Agreed.
- Great. We're gonna do it.
1053
00:54:56,251 --> 00:54:58,754
Address it all head on.
It's gonna be good.
1054
00:55:00,839 --> 00:55:03,008
- No.
- What? Gabe, we're on in 10 seconds.
1055
00:55:03,008 --> 00:55:04,301
I can't do this. I'm sorry.
1056
00:55:04,301 --> 00:55:05,219
Gabe, seriously.
1057
00:55:05,219 --> 00:55:06,970
- Bye, I'm terribly sorry.
- Seriously, c'mon.
1058
00:55:06,970 --> 00:55:09,056
- Good to see you. The pleasure's here.
- We're going on right now.
1059
00:55:15,562 --> 00:55:16,396
Babe,
1060
00:55:17,564 --> 00:55:18,732
what's the damage?
1061
00:55:51,056 --> 00:55:52,349
Let me guess, you need cash.
1062
00:55:52,349 --> 00:55:54,393
Didn't call Ken first, did you?
1063
00:55:54,393 --> 00:55:56,061
He had Phillips reach out.
1064
00:55:56,562 --> 00:55:57,938
How much did he offer?
1065
00:55:59,439 --> 00:56:00,899
I haven't called him back yet.
1066
00:56:00,899 --> 00:56:02,359
Well, how much do you need?
1067
00:56:02,359 --> 00:56:04,778
You know what? Don't answer that.
The number doesn't matter.
1068
00:56:04,778 --> 00:56:06,363
Whatever it is, I'd love to buy in.
1069
00:56:06,363 --> 00:56:08,448
Tell Ken to fill in the rest.
1070
00:56:08,448 --> 00:56:09,658
Prick.
1071
00:56:15,706 --> 00:56:16,748
- Hey, Ken.
- Hey.
1072
00:56:16,748 --> 00:56:19,876
Hi, um... So, I might need...
1073
00:56:20,794 --> 00:56:21,712
Uh...
1074
00:56:22,629 --> 00:56:23,630
A new investor.
1075
00:56:23,630 --> 00:56:24,923
Consider it done.
1076
00:56:24,923 --> 00:56:26,925
Just keep moving forward.
1077
00:56:26,925 --> 00:56:29,553
Don't think about
what Grandpa Melvin used to say.
1078
00:56:29,553 --> 00:56:30,887
Prick.
1079
00:56:32,764 --> 00:56:34,725
- Thank you.
- Both Citadel
1080
00:56:34,725 --> 00:56:38,437
- and Point72 have infused
- Poor guy.
1081
00:56:38,437 --> 00:56:41,940
$3 billion into Melvin Capital
1082
00:56:41,940 --> 00:56:44,818
- to try to shore up...
- Another goddamn bailout.
1083
00:56:44,818 --> 00:56:46,528
Can you believe this crap?
1084
00:56:46,528 --> 00:56:47,738
Nobody bailed me out
1085
00:56:47,738 --> 00:56:50,741
when Richard left me alone
with two toddlers, a mortgage,
1086
00:56:50,741 --> 00:56:52,034
a shit car that never works.
1087
00:56:52,034 --> 00:56:53,785
You can say "shit" but we can't?
1088
00:56:53,785 --> 00:56:55,829
It's just so damn unfair and you know it.
1089
00:56:55,829 --> 00:56:59,833
All we've done for the last year
is work our asses off helping people,
1090
00:56:59,833 --> 00:57:02,544
and all we've gotten is one $600 check.
1091
00:57:02,544 --> 00:57:05,589
This idiot effs up just about as bad
as anyone could eff,
1092
00:57:05,589 --> 00:57:08,634
and his friends come running in
with $3 billion.
1093
00:57:08,634 --> 00:57:10,886
That's why I keep telling you:
you're never gonna win.
1094
00:57:10,886 --> 00:57:13,472
Just take the money and do something nice.
Pay off your mortgage.
1095
00:57:13,472 --> 00:57:15,015
Get that one braces.
1096
00:57:15,599 --> 00:57:17,100
Look who's still holding.
1097
00:57:18,560 --> 00:57:20,562
If he's in, I'm in.
1098
00:57:20,562 --> 00:57:22,522
Yeah, he's still gonna need braces.
1099
00:57:22,522 --> 00:57:23,607
Your teeth are perfect.
1100
00:57:23,607 --> 00:57:26,860
So what? The stock's up $150.
How much higher is it gonna go?
1101
00:57:26,860 --> 00:57:29,154
We control the price now. Not Wall Street.
1102
00:57:29,154 --> 00:57:30,656
And no one on there is selling.
1103
00:57:30,656 --> 00:57:31,698
Shoes.
1104
00:57:31,698 --> 00:57:33,909
- Ugh. You're all so delusional.
- Maybe.
1105
00:57:33,909 --> 00:57:36,328
But look at what we managed to do
with these hedge funds.
1106
00:57:36,328 --> 00:57:37,954
If we keep driving up the price,
1107
00:57:37,954 --> 00:57:41,124
maybe we'll scare more of these guys
into closing out their shorts,
1108
00:57:41,124 --> 00:57:43,210
and then all of that bailout money...
1109
00:57:43,210 --> 00:57:44,628
- Wait...
- becomes ours.
1110
00:57:44,628 --> 00:57:45,545
your screen name...
1111
00:57:46,338 --> 00:57:47,881
is Stonkmom?
1112
00:57:52,302 --> 00:57:53,303
- Hey!
- Help your mother.
1113
00:57:53,303 --> 00:57:55,806
- Why me and not Keith?
- Just shut up and do it, okay?
1114
00:57:55,806 --> 00:57:58,016
- Kev, take the potatoes.
- 'Cause you're rich now?
1115
00:57:58,016 --> 00:58:00,102
Mr. 23 million on paper but I won't sell.
1116
00:58:00,102 --> 00:58:02,354
- Kevin.
- Loser says what?
1117
00:58:03,355 --> 00:58:05,816
- What?
- Kevin, let Keith tell them.
1118
00:58:09,027 --> 00:58:09,903
Tell us what?
1119
00:58:11,530 --> 00:58:14,241
Oh, uh...
I was waiting to tell you in person.
1120
00:58:14,241 --> 00:58:17,369
But the, uh, stock we bet on,
GameStop, is up.
1121
00:58:17,369 --> 00:58:18,537
Ah, good.
1122
00:58:19,663 --> 00:58:22,124
- How much up?
- He's up 23 million, Pop.
1123
00:58:22,708 --> 00:58:23,709
You're an asshole.
1124
00:58:23,709 --> 00:58:26,253
- Don't kid us.
- Uh, it's real.
1125
00:58:26,253 --> 00:58:28,922
Yeah, it's real.
And he's refusing to sell.
1126
00:58:30,799 --> 00:58:31,842
What is going on?
1127
00:58:32,884 --> 00:58:34,219
- You're pulling our leg.
- No.
1128
00:58:34,219 --> 00:58:36,138
Your son's a huge Internet celebrity now.
1129
00:58:36,138 --> 00:58:38,974
Millions of people including "Stonkmom"
thinks he's some like,
1130
00:58:38,974 --> 00:58:41,143
- I don't know, investment genius.
- No, he is a genius.
1131
00:58:41,143 --> 00:58:42,352
No, he's not.
1132
00:58:42,352 --> 00:58:44,104
You're up 23 million?
1133
00:58:45,105 --> 00:58:46,523
And you're not selling.
1134
00:58:48,150 --> 00:58:49,484
Jesus, Mary and Joseph.
1135
00:58:49,484 --> 00:58:50,986
What the fuck is wrong with you?
1136
00:58:50,986 --> 00:58:53,321
Do you even know
how much $23 million is?
1137
00:58:53,321 --> 00:58:55,615
And you're just gonna let it ride?
What's the matter with you?
1138
00:58:55,615 --> 00:58:57,826
- I know what I'm doing, Dad.
- But why aren't you selling?
1139
00:58:57,826 --> 00:58:59,745
What, wait! Is this illegal?
Are you in trouble?
1140
00:58:59,745 --> 00:59:00,912
No. No, he's not in trouble.
1141
00:59:00,912 --> 00:59:01,997
- It's totally legal.
- Yeah.
1142
00:59:01,997 --> 00:59:03,790
He's posting his balance sheet
on the Internet.
1143
00:59:03,790 --> 00:59:04,958
- What?
- Hedge fund managers,
1144
00:59:04,958 --> 00:59:07,419
they go on CNBC all the time
to pump up the stock.
1145
00:59:07,419 --> 00:59:09,880
All I do is post my balance sheet
on Wall Street Bets
1146
00:59:09,880 --> 00:59:13,133
- after market close.
- You post your balance sheet?
1147
00:59:13,133 --> 00:59:14,301
Yeah, the same idiot
1148
00:59:14,301 --> 00:59:17,095
who left a fresh pair of Nikes out on
the bleachers for just anyone to take.
1149
00:59:17,095 --> 00:59:18,263
So you admit they were stolen!
1150
00:59:18,263 --> 00:59:19,890
- We gotta talk about this.
- You're a fuckin' moron.
1151
00:59:19,890 --> 00:59:21,349
- Least I won.
- What's the point of winning
1152
00:59:21,349 --> 00:59:22,684
if you let some dipshit steal the prize?
1153
00:59:22,684 --> 00:59:24,227
You would've broke a four
if you had the Zooms.
1154
00:59:24,227 --> 00:59:25,729
A four minute mile
isn't everything, Kevin.
1155
00:59:25,729 --> 00:59:27,606
Maybe we should get in touch
with Briggsy.
1156
00:59:27,606 --> 00:59:29,608
- You know, he works in finance.
- Yes.
1157
00:59:29,608 --> 00:59:31,818
You think Briggsy knows
more about this than Keith does?
1158
00:59:31,818 --> 00:59:33,862
Well, can you talk about why
you're putting your stocks
1159
00:59:33,862 --> 00:59:36,114
- in the Wall Street Journal?
- Wall Street Bets.
1160
00:59:36,114 --> 00:59:37,699
What if someone tries to rob you?
Kidnap the baby?
1161
00:59:37,699 --> 00:59:38,950
No one's gonna kidnap the baby.
1162
00:59:38,950 --> 00:59:40,827
- Nobody wants that baby, Mom.
- I'm just saying,
1163
00:59:40,827 --> 00:59:42,120
that if we're gonna talk to somebody,
1164
00:59:42,120 --> 00:59:43,830
- you need to talk to Briggsy.
- Yes, honey.
1165
00:59:43,830 --> 00:59:45,415
- This is the point...
- Enough!
1166
00:59:46,500 --> 00:59:48,084
You guys, Keith has literally
1167
00:59:48,084 --> 00:59:50,378
poured his heart and his soul
into this for the past year.
1168
00:59:50,378 --> 00:59:51,755
He knows what he's doing.
1169
00:59:57,511 --> 01:00:00,013
I know it's been a tough time, Elaine.
1170
01:00:07,938 --> 01:00:09,022
You should still sell.
1171
01:00:11,441 --> 01:00:12,609
Think you should sell.
1172
01:00:16,446 --> 01:00:18,740
And just fuck the principle
of the whole thing?
1173
01:00:18,740 --> 01:00:20,700
I don't like it any more than you do.
1174
01:00:36,049 --> 01:00:37,509
You really don't think
that he's fucking selling?
1175
01:00:37,509 --> 01:00:38,426
No!
1176
01:00:38,927 --> 01:00:39,761
Ladies.
1177
01:00:41,304 --> 01:00:42,138
Masks.
1178
01:00:45,684 --> 01:00:49,062
Kids are with their father for a few days.
So, I'm going to Florida.
1179
01:00:49,062 --> 01:00:51,815
You finally fucking sold.
Hallefuckin-lujah.
1180
01:00:51,815 --> 01:00:53,942
No, I'm putting it on my Visa.
1181
01:00:53,942 --> 01:00:55,026
You shitting me?
1182
01:00:55,026 --> 01:00:57,195
You're worth hundreds of thousands
of dollars in stock,
1183
01:00:57,195 --> 01:00:58,822
and you're amassing credit card debt.
1184
01:00:58,822 --> 01:01:00,824
You really are out of your mind.
1185
01:01:00,824 --> 01:01:04,828
No, babe, I'm all in. Diamond hand.
1186
01:01:04,828 --> 01:01:06,913
Did you know that Gabe Plotkin
gave an interview?
1187
01:01:06,913 --> 01:01:09,457
He's been getting death threats,
anti-Semitic messages
1188
01:01:09,457 --> 01:01:11,793
- from these WSB guys.
- It was ten comments.
1189
01:01:11,793 --> 01:01:14,713
There's always bad apples.
And the moderators deleted it right away.
1190
01:01:14,713 --> 01:01:16,798
You're just gonna ride this thing
till zero?
1191
01:01:16,798 --> 01:01:19,009
No. I'm buying call options.
1192
01:01:19,009 --> 01:01:22,554
- That could go to 600 by tomorrow.
- Your kid is never getting braces.
1193
01:01:30,562 --> 01:01:33,106
There's 8 million people in there
and they're all holding.
1194
01:01:33,106 --> 01:01:34,232
It's only going to go up.
1195
01:01:34,232 --> 01:01:35,775
It's a joke, Marcos.
1196
01:01:35,775 --> 01:01:37,819
But you're treating it
like it's real life.
1197
01:01:38,695 --> 01:01:39,529
Pops.
1198
01:01:41,740 --> 01:01:42,574
Look.
1199
01:01:43,617 --> 01:01:46,036
- This is real. Hold it. Look.
- Hey.
1200
01:01:46,036 --> 01:01:46,995
Aw, man.
1201
01:01:48,663 --> 01:01:50,373
8 million people is real.
1202
01:01:50,373 --> 01:01:52,042
H-O-D-L.
1203
01:01:52,751 --> 01:01:56,212
8 million don't even know
how to spell "hold."
1204
01:01:56,212 --> 01:01:57,130
It's a joke.
1205
01:01:57,130 --> 01:01:59,883
- A corny joke.
- It's not funny.
1206
01:02:03,678 --> 01:02:04,512
Mom,
1207
01:02:05,847 --> 01:02:06,890
look.
1208
01:02:06,890 --> 01:02:09,517
I got $175,000 in stock right now.
1209
01:02:09,517 --> 01:02:10,685
What?
1210
01:02:10,685 --> 01:02:11,645
Like serious money,
1211
01:02:11,645 --> 01:02:14,731
like I could get you a house
and get you up out of here, kind of money.
1212
01:02:14,731 --> 01:02:15,899
Baby.
1213
01:02:15,899 --> 01:02:18,318
Where did you get the money to buy this?
1214
01:02:18,318 --> 01:02:19,402
Uh-huh.
1215
01:02:19,402 --> 01:02:22,280
I bought call options, for cheap.
1216
01:02:22,280 --> 01:02:25,367
- And they hit.
- So now you're gonna sell?
1217
01:02:25,367 --> 01:02:26,785
Nah. No, I buy more.
1218
01:02:27,619 --> 01:02:29,454
At this price!?
1219
01:02:29,454 --> 01:02:31,498
When they hit,
I'm gonna buy you a mansion.
1220
01:02:31,498 --> 01:02:32,582
It's gonna be crazy.
1221
01:02:32,582 --> 01:02:35,377
My son, I don't need a mansion.
1222
01:02:37,295 --> 01:02:38,672
Papi.
1223
01:02:39,047 --> 01:02:40,215
Be careful.
1224
01:02:40,715 --> 01:02:43,093
Don't get addicted to this, my son.
1225
01:02:43,093 --> 01:02:44,803
This can be like a drug.
1226
01:02:50,850 --> 01:02:55,605
Some breaking news right now
on what has turned into the soap opera
1227
01:02:55,605 --> 01:02:59,943
and, uh, saga of the markets right now.
And that is the story of GameStop.
1228
01:02:59,943 --> 01:03:02,737
A month ago today, it was trading
at about 20 bucks per share.
1229
01:03:02,737 --> 01:03:04,906
Two days ago, it was under $80.
1230
01:03:04,906 --> 01:03:08,326
Today, nearly $350 a share.
1231
01:03:08,326 --> 01:03:12,372
The GameStop stock frenzy even now
has the attention of the White House.
1232
01:03:12,372 --> 01:03:14,791
...our economic team
including Secretary Yellen and others
1233
01:03:14,791 --> 01:03:16,459
are monitoring the situation.
1234
01:03:16,459 --> 01:03:18,878
You're witnessing
the French Revolution of finance.
1235
01:03:18,878 --> 01:03:20,296
There is a rebellion aspect to it.
1236
01:03:20,296 --> 01:03:22,382
There is
an anti-establishment aspect to it.
1237
01:03:22,382 --> 01:03:24,592
I don't know if Wall Street's ever seen it
like this before.
1238
01:03:24,592 --> 01:03:26,177
- No. It's generational.
- We never have.
1239
01:03:26,177 --> 01:03:27,887
It's like generational injustices.
1240
01:03:27,887 --> 01:03:31,349
This is like
little poor guys vs. rich guys.
1241
01:03:31,349 --> 01:03:34,227
- And poor guys are winning right now.
1242
01:03:34,227 --> 01:03:36,646
Fucking hold! If you're new here
and you're trying to make a profit,
1243
01:03:36,646 --> 01:03:38,648
- fuck off!
- Stop what you're doing, and listen up.
1244
01:03:38,648 --> 01:03:41,026
I own GameStop on Robinhood
and I am not selling.
1245
01:03:41,026 --> 01:03:44,738
Hold. All you need to do is hold.
Keep fucking holding.
1246
01:03:44,738 --> 01:03:48,450
Soon the Tendieman comes
to send our rocket to the sun.
1247
01:03:48,450 --> 01:03:51,703
See this right here is the human being
who's largely responsible
1248
01:03:51,703 --> 01:03:53,580
for all this GameStop stuff.
1249
01:03:53,580 --> 01:03:59,961
Just a pure specimen.
A God-like undefeatable creature.
1250
01:03:59,961 --> 01:04:03,590
This is what excellence looks like.
1251
01:04:03,590 --> 01:04:04,716
I just like the stock.
1252
01:04:04,716 --> 01:04:08,344
Yesterday he posted this,
that he's in profit, wait for it...
1253
01:04:09,345 --> 01:04:11,890
47 million.
1254
01:04:13,224 --> 01:04:15,602
- What the fuck is happening?
1255
01:04:15,602 --> 01:04:19,147
- What the fuck?
1256
01:04:19,147 --> 01:04:20,690
Hey, did you try a different browser?
1257
01:04:20,690 --> 01:04:22,984
- I plugged the browser.
- Shit, we're fucked.
1258
01:04:24,152 --> 01:04:25,320
Bro, what the fuck?
1259
01:04:25,320 --> 01:04:27,447
- What the fuck, dude?
- I told you this shit is rigged.
1260
01:04:28,865 --> 01:04:29,991
What the fuck is going on?
1261
01:04:32,535 --> 01:04:33,745
I can't get it to load.
1262
01:04:40,210 --> 01:04:41,127
Fuck!
1263
01:04:45,423 --> 01:04:46,257
What?
1264
01:04:49,427 --> 01:04:51,221
They shut down Wall Street Bets.
1265
01:04:51,721 --> 01:04:54,724
- What?
-"Hateful and discriminatory content."
1266
01:04:54,724 --> 01:04:56,434
That stuff has always been on there.
1267
01:05:01,940 --> 01:05:03,274
That's weird.
1268
01:05:03,274 --> 01:05:04,275
No?
1269
01:05:05,318 --> 01:05:08,655
I mean, it's like they're trying
to stop people from talking to each other.
1270
01:05:15,995 --> 01:05:17,163
Babe, are you gonna get that?
1271
01:05:17,163 --> 01:05:18,081
Yes.
1272
01:05:18,081 --> 01:05:18,998
Oh.
1273
01:05:21,126 --> 01:05:21,960
Hello?
1274
01:05:23,628 --> 01:05:26,589
Ah, yes, I am...
1275
01:05:27,090 --> 01:05:30,343
I am the Roaring Kitty
and Deep F-ing Value.
1276
01:05:32,137 --> 01:05:35,557
Ah, no, but nobody ever asked me.
1277
01:05:37,642 --> 01:05:38,977
Oh, okay.
1278
01:05:38,977 --> 01:05:41,771
Sir, I just want to say
how grateful I am for this job
1279
01:05:41,771 --> 01:05:43,690
and how much it means
to me and my family.
1280
01:05:43,690 --> 01:05:46,109
I would never let a hobby jeopardize...
1281
01:05:47,819 --> 01:05:49,779
Okay. I understand.
1282
01:05:55,743 --> 01:05:58,204
- Yeah?
- It's MassMutual. They're...
1283
01:05:58,204 --> 01:06:01,624
getting calls from reporters "concerned"
about my "outside activities."
1284
01:06:01,624 --> 01:06:03,501
Was all this against the rules?
1285
01:06:03,501 --> 01:06:06,421
I wasn't...? Maybe now it is...
1286
01:06:06,421 --> 01:06:07,338
Okay.
1287
01:06:10,383 --> 01:06:11,926
Well, what was that call?
1288
01:06:13,553 --> 01:06:15,013
- Keith?
- It's okay.
1289
01:06:15,013 --> 01:06:16,222
What, are you going to lose your job?
1290
01:06:16,222 --> 01:06:17,140
- What?
- It's fine.
1291
01:06:18,266 --> 01:06:20,101
- They gave me a choice.
- Between what?
1292
01:06:20,101 --> 01:06:21,895
Between your job and Roaring Kitty?
1293
01:06:21,895 --> 01:06:23,813
- Uh...
1294
01:06:23,813 --> 01:06:26,691
- Resign or I'm fired.
- That's what he just said?
1295
01:06:27,984 --> 01:06:28,902
I got it.
1296
01:06:31,196 --> 01:06:32,322
Fuck it, Wall Street Bets is down,
1297
01:06:32,322 --> 01:06:33,239
I can't see Roaring Kitty's balance sheet.
1298
01:06:33,239 --> 01:06:34,157
Oh fuck.
1299
01:06:34,157 --> 01:06:35,408
I don't know what to do.
1300
01:06:35,909 --> 01:06:36,993
This could be the sell-off.
1301
01:06:36,993 --> 01:06:39,037
I really don't wanna do that.
1302
01:06:39,037 --> 01:06:42,207
Well, me neither.
But you can't let it go to zero.
1303
01:06:43,082 --> 01:06:45,418
It's 150 grand. You need that money.
1304
01:06:45,418 --> 01:06:47,879
And nobody is gonna hold
if they can't see what he's doing.
1305
01:06:50,590 --> 01:06:52,050
Close your eyes and count to three.
1306
01:06:52,759 --> 01:06:53,593
One.
1307
01:06:55,595 --> 01:06:56,512
- Two.
- Two.
1308
01:06:57,722 --> 01:06:58,723
- Three.
- Three.
1309
01:07:02,393 --> 01:07:04,437
- Your phone's ringing.
1310
01:07:04,437 --> 01:07:06,648
This is the sound of the world.
1311
01:07:06,648 --> 01:07:08,358
Your phone is ringing!
1312
01:07:08,358 --> 01:07:12,487
Oh, Robinhood. Yeah. It's an app.
1313
01:07:13,071 --> 01:07:14,364
It's on the phone.
1314
01:07:14,364 --> 01:07:16,741
- Yeah, no, your phone is ringing.
- Oh.
1315
01:07:17,784 --> 01:07:20,078
Yes...
1316
01:07:20,078 --> 01:07:22,956
♪ I'm a boss in a fucking dress... ♪
1317
01:07:22,956 --> 01:07:24,874
Slow down, Norm, what did you say?
1318
01:07:25,375 --> 01:07:29,796
The NSCC just sent us a file,
they want a deposit of 3 billion
1319
01:07:29,796 --> 01:07:31,506
to clear all the trades coming in.
1320
01:07:32,215 --> 01:07:33,508
Sorry.
1321
01:07:33,508 --> 01:07:34,592
Wait, who?
1322
01:07:34,592 --> 01:07:40,139
They're a subsidiary of the DTCC.
And they're requesting 3 billion.
1323
01:07:40,139 --> 01:07:45,103
Ah... Okay. Sorry, it's a little loud in
here. I thought you just said 3 billion.
1324
01:07:45,603 --> 01:07:46,646
I did!
1325
01:07:47,939 --> 01:07:50,650
- But we don't have 3 billion, Norm.
- That's correct.
1326
01:07:50,650 --> 01:07:53,695
We've only ever raised 2 billion
in the history of the company.
1327
01:07:54,570 --> 01:07:56,531
Holy fuck! What if we don't pay?
1328
01:07:56,531 --> 01:07:57,991
They shut us down.
1329
01:07:58,950 --> 01:08:01,953
The IPO, like, everything... poof.
1330
01:08:01,953 --> 01:08:04,831
Gretchen, Dan and I are going to
jump on a call with Citadel at 9.
1331
01:08:08,668 --> 01:08:11,713
Maybe this would be a good time
for me to chat with Ken Griffin.
1332
01:08:11,713 --> 01:08:14,424
Sure. We'll mention that.
1333
01:08:16,009 --> 01:08:17,302
I can't sleep.
1334
01:08:17,302 --> 01:08:18,344
Me neither.
1335
01:08:18,845 --> 01:08:20,138
I just feel sick!
1336
01:08:21,139 --> 01:08:22,724
We'll buy it back first thing.
1337
01:08:24,559 --> 01:08:25,977
Please shut up.
1338
01:08:40,825 --> 01:08:42,285
What the fuck.
1339
01:08:45,371 --> 01:08:46,497
Oh! What the fuck!
1340
01:08:47,540 --> 01:08:49,625
- What the fuck!
- Okay, let me try.
1341
01:08:50,710 --> 01:08:52,086
Is it frozen?
1342
01:08:57,342 --> 01:08:59,135
They cut off the buy option.
1343
01:08:59,844 --> 01:09:01,387
What?! That's fucking criminal.
1344
01:09:01,387 --> 01:09:02,680
I can't hear you, Baiju!
1345
01:09:02,680 --> 01:09:04,057
What the fuck did you do?
1346
01:09:04,057 --> 01:09:05,767
- Calm down.
- Me calm down?
1347
01:09:05,767 --> 01:09:07,352
You shut down trading on GameStop?
1348
01:09:07,352 --> 01:09:08,519
Not all trading.
1349
01:09:08,519 --> 01:09:09,687
Norm worked it out.
1350
01:09:09,687 --> 01:09:13,232
The DTCC agreed to lower the deposit
to 700 million
1351
01:09:13,232 --> 01:09:15,401
if we shut off buying,
and that's what I did.
1352
01:09:15,401 --> 01:09:17,445
- The Depository Trade Commission?
1353
01:09:17,445 --> 01:09:19,697
They're like one degree away
from Ken Griffin.
1354
01:09:19,697 --> 01:09:21,908
- One more time, Baiju.
1355
01:09:21,908 --> 01:09:22,909
...butt boys!
1356
01:09:24,911 --> 01:09:27,038
- What?
- It's not going to be okay.
1357
01:09:27,038 --> 01:09:28,289
You need to fix this...
1358
01:09:28,289 --> 01:09:29,916
Shh. I know, it's okay.
1359
01:09:30,792 --> 01:09:32,210
I did fix it, Baiju.
1360
01:09:34,420 --> 01:09:37,131
We've been watching shares
of GameStop all day long
1361
01:09:37,131 --> 01:09:40,802
after hitting a staggering high of $483.
1362
01:09:40,802 --> 01:09:43,763
The shares are now down to about 140.
1363
01:09:43,763 --> 01:09:46,724
Now, the best we can tell
is the Robinhood app
1364
01:09:46,724 --> 01:09:51,354
that seems to have triggered what really
has become a panic sell-off in this name.
1365
01:09:51,354 --> 01:09:55,983
And so if you're a retail investor
or a Reddit user and you've held,
1366
01:09:55,983 --> 01:09:58,736
well, you are feeling some serious pain
right now.
1367
01:09:59,946 --> 01:10:01,114
Oh God.
1368
01:10:02,573 --> 01:10:03,408
Fuck.
1369
01:10:03,408 --> 01:10:05,368
Now the criticism centered on Robinhood
1370
01:10:05,368 --> 01:10:09,330
for abandoning their followers here
in favor of helping those who had shorted
1371
01:10:09,330 --> 01:10:10,873
all these stocks in the first place.
1372
01:10:10,873 --> 01:10:13,334
I don't particularly like the move
on Robinhood today.
1373
01:10:13,334 --> 01:10:15,128
I'm talking to people this morning
that say,
1374
01:10:15,128 --> 01:10:17,004
"Okay, that is anti-capitalism.
1375
01:10:17,004 --> 01:10:18,506
- You can't do that."
- Fuck you, Robinhood!
1376
01:10:18,506 --> 01:10:23,219
There's been some controversy
about Citadel and some vague accusations
1377
01:10:23,219 --> 01:10:26,389
that somehow Citadel may have been
involved in Robinhood's decision, Wolf,
1378
01:10:26,389 --> 01:10:29,851
to stop or restrict trading
in GameStop and other shorts...
1379
01:10:29,851 --> 01:10:30,893
Who is it from?
1380
01:10:30,893 --> 01:10:33,688
The Tendieman...?
1381
01:10:35,565 --> 01:10:36,482
Come back inside.
1382
01:10:36,482 --> 01:10:38,025
Diamond fucking hands!
1383
01:10:40,194 --> 01:10:44,365
We all know how I feel about him.
I think he's a rat, a liar.
1384
01:10:44,365 --> 01:10:49,203
Okay, Vlad, you know everybody here
who's watching us hates your guts, right?
1385
01:10:50,204 --> 01:10:53,708
Thank you, Dave, that's, uh...
that's what I hear.
1386
01:10:53,708 --> 01:10:57,628
But I'm a really big fan of your show
and hopefully I can answer
1387
01:10:57,628 --> 01:10:59,755
- some of your questions.
- Vlad, can you hear us?
1388
01:10:59,755 --> 01:11:02,758
- Vlad the stock impaler.
- Yes, I'm here... Hi.
1389
01:11:02,758 --> 01:11:04,886
Spill the beans, man,
what happened last week?
1390
01:11:04,886 --> 01:11:07,680
Why couldn't people buy GameStop shares?
1391
01:11:07,680 --> 01:11:09,599
The people demand an answer.
1392
01:11:09,599 --> 01:11:13,144
To give you some background,
I'm chief executive of Robinhood...
1393
01:11:13,144 --> 01:11:14,479
- Robbing executive.
- Yeah, we know that.
1394
01:11:14,479 --> 01:11:16,147
And I just want to say,
1395
01:11:16,147 --> 01:11:18,816
- we had no liquidity problem.
- Well, did something maybe shady
1396
01:11:18,816 --> 01:11:20,651
go down here?
Seems weird that you'd get a sudden
1397
01:11:20,651 --> 01:11:22,778
- 10 billion dollar demand... You know.
- Three, 3 billion...
1398
01:11:22,778 --> 01:11:24,989
- Okay, but 3 billion just suddenly,
- Yeah.
1399
01:11:24,989 --> 01:11:27,074
- out of nowhere and...
- Well, I wouldn't impute
1400
01:11:27,074 --> 01:11:30,203
any shadiness to any of this, um...
1401
01:11:30,203 --> 01:11:32,413
I don't have the full context, uh,
1402
01:11:32,413 --> 01:11:34,916
as to what was going on
with the NSCC to,
1403
01:11:34,916 --> 01:11:37,960
to, uh, make these calculations.
1404
01:11:37,960 --> 01:11:40,421
To what degree
are you beholden to Citadel?
1405
01:11:40,421 --> 01:11:43,799
I mean, like, basically,
if Citadel is unhappy, then what happens?
1406
01:11:43,799 --> 01:11:46,761
- It was a hard temperance.
- Is anyone holding you hostage right now?
1407
01:11:46,761 --> 01:11:47,678
Uh, no.
1408
01:11:47,678 --> 01:11:51,557
There's just no rational explanation
on why they would do what they did
1409
01:11:51,557 --> 01:11:54,268
without outside pressure, interference.
1410
01:11:54,268 --> 01:11:56,938
And they basically cratered the stock
on purpose.
1411
01:11:56,938 --> 01:11:59,982
So, I just don't believe
anything that guy says.
1412
01:11:59,982 --> 01:12:02,360
I wanted to take a cold shower
after seeing him say that.
1413
01:12:02,360 --> 01:12:05,029
Robinhood is facing lawsuits,
we know that.
1414
01:12:05,029 --> 01:12:07,406
After halting trade, they are accused
1415
01:12:07,406 --> 01:12:09,575
- of rigging the market.
- When the big guys,
1416
01:12:09,575 --> 01:12:12,828
including one of your main investors
in your company started to lose,
1417
01:12:12,828 --> 01:12:15,498
you shut down the game
to starve the little guy.
1418
01:12:15,498 --> 01:12:18,501
They're stealing from the poor
and giving back to the rich.
1419
01:12:18,501 --> 01:12:21,879
They're robbing from the 'hood! Why?
1420
01:12:21,879 --> 01:12:24,924
- I want to be 100% clear,
- All of you guys deserve to burn in hell.
1421
01:12:24,924 --> 01:12:26,300
- this decision to...
- And go to jail.
1422
01:12:26,300 --> 01:12:27,426
restrict trade was not made
on the direction
1423
01:12:27,426 --> 01:12:28,678
I'm just trying to get my mom
out the 'hood.
1424
01:12:28,678 --> 01:12:31,472
- of Citadel or any market maker.
- What the fuck? Fuck you!
1425
01:12:31,472 --> 01:12:32,890
And your Mama Dukes,
you motherfucking fraud.
1426
01:12:32,890 --> 01:12:33,808
Fuck this guy.
1427
01:12:34,684 --> 01:12:37,186
This guy is just
an obfuscating piece of shit.
1428
01:12:37,186 --> 01:12:38,479
Fucker.
1429
01:12:38,479 --> 01:12:40,815
There's only one man
I wanna hear from right now.
1430
01:12:40,815 --> 01:12:43,442
And Wall Street Bets is down,
so it's crickets.
1431
01:12:43,442 --> 01:12:45,027
It's crickets out here.
1432
01:12:45,903 --> 01:12:47,029
Say it with me.
1433
01:12:47,530 --> 01:12:49,532
- Where my pussy at!
- Where my pussy at!
1434
01:12:50,241 --> 01:12:51,784
- Mr. Gill!
- Mr. Gill!
1435
01:12:52,577 --> 01:12:56,414
- Roaring Kitty, I fucking love you!
- Keith Gill!
1436
01:12:56,414 --> 01:12:58,165
- Keith Gill, please!
- Okay.
1437
01:12:58,165 --> 01:13:01,294
- Please.
- Oh, sorry, this is, like, my house, uh...
1438
01:13:01,294 --> 01:13:02,878
- You want my autograph?
- Yeah.
1439
01:13:03,796 --> 01:13:04,672
You've been served.
1440
01:13:07,758 --> 01:13:10,595
Hey, to the moon, baby! To the moon.
1441
01:13:10,595 --> 01:13:11,804
Holy shit.
1442
01:13:16,726 --> 01:13:20,563
Sorry to interrupt. We need to talk
about the GameStop situation.
1443
01:13:20,563 --> 01:13:21,939
I thought Mecane was handling it.
1444
01:13:21,939 --> 01:13:24,775
So did we. But the committee's
specifically requested you, sir.
1445
01:13:24,775 --> 01:13:26,986
If they want specifics,
they can have Mecane.
1446
01:13:27,695 --> 01:13:29,614
It's not a choice, unfortunately.
1447
01:13:33,826 --> 01:13:35,077
Shitballs.
1448
01:13:37,872 --> 01:13:38,831
Keith?
1449
01:13:40,374 --> 01:13:43,461
- A congressional subpoena.
- I never did anything illegal.
1450
01:13:43,461 --> 01:13:44,920
And I always had disclaimers...
1451
01:13:45,588 --> 01:13:47,798
Why would you have disclaimers
if you weren't worried?
1452
01:13:48,341 --> 01:13:50,760
They're standard practice, Caroline,
everyone has them.
1453
01:13:55,765 --> 01:13:56,599
Babe...
1454
01:14:00,144 --> 01:14:02,688
- the answer is not in your computer.
- Whoa!
1455
01:14:03,314 --> 01:14:07,276
There's a dozen reporters on our lawn!
You have to testify before Congress.
1456
01:14:07,943 --> 01:14:10,696
- The game has changed.
- I know. I hear you.
1457
01:14:10,696 --> 01:14:12,114
I don't think you do.
1458
01:14:17,662 --> 01:14:19,080
Oh, my God. We're...
1459
01:14:20,623 --> 01:14:21,957
We're gonna go to my mother's.
1460
01:14:21,957 --> 01:14:24,126
No, she has terrible Wi-Fi.
1461
01:14:24,126 --> 01:14:26,170
I'm not talking about you.
1462
01:14:26,170 --> 01:14:28,047
I'm talking about me and her.
1463
01:14:28,798 --> 01:14:30,341
You need to figure this out.
1464
01:14:43,521 --> 01:14:45,398
- Where are you going?
- To the track.
1465
01:14:45,398 --> 01:14:47,733
- You were just on the track.
- I'm going again.
1466
01:14:58,244 --> 01:15:00,663
Hi. Can I interest you in
some champagne or a mimosa?
1467
01:15:00,663 --> 01:15:02,957
- Is it free?
- It is when you sit up here.
1468
01:15:02,957 --> 01:15:04,959
Well, there is a last time for everything.
1469
01:15:04,959 --> 01:15:06,460
Oh, you'll be back.
1470
01:15:06,460 --> 01:15:10,715
I had half a million in stocks last week,
but Wall Street cheated.
1471
01:15:11,215 --> 01:15:12,383
Surprise, surprise.
1472
01:15:14,176 --> 01:15:15,428
I could have cashed out.
1473
01:15:16,554 --> 01:15:18,347
I could have paid my mortgage.
1474
01:15:18,347 --> 01:15:20,015
Could have gotten my kid braces.
1475
01:15:20,015 --> 01:15:20,933
Got a new car.
1476
01:15:20,933 --> 01:15:22,685
Honey, I'm gonna get you
something stronger.
1477
01:15:22,685 --> 01:15:24,186
- Thank you.
- You're welcome.
1478
01:15:30,317 --> 01:15:31,444
Meow!
1479
01:15:31,444 --> 01:15:32,570
Kitty!
1480
01:15:32,570 --> 01:15:35,281
You know you can't just eat other people's
food. They do reviews, right?
1481
01:15:35,281 --> 01:15:36,323
Very funny.
1482
01:15:36,323 --> 01:15:37,241
Here.
1483
01:15:37,825 --> 01:15:39,118
What's this?
1484
01:15:39,118 --> 01:15:40,578
Look, they were on sale, all right,
1485
01:15:40,578 --> 01:15:43,622
- before you get all emotional and shit.
- Holy shit, you fucking softy.
1486
01:15:43,622 --> 01:15:45,833
Who put you up to this? Caro? Ma?
1487
01:15:45,833 --> 01:15:47,626
No, Dad called me in tears,
1488
01:15:47,626 --> 01:15:49,462
said my big brother
needed some moral support.
1489
01:15:49,462 --> 01:15:51,922
Ah, fuck off. I can't.
1490
01:15:51,922 --> 01:15:54,008
C'mon, man.
Will you at least try 'em on? Please?
1491
01:15:54,008 --> 01:15:56,051
Try 'em. C'mon,
you're the richest man in Brockton,
1492
01:15:56,051 --> 01:15:58,637
- you dress like an asshole.
- I lost 15 million yesterday.
1493
01:15:58,637 --> 01:16:00,598
And another 15 the day before that.
1494
01:16:00,598 --> 01:16:02,975
You're still the richest man in Brockton,
like, by far.
1495
01:16:03,642 --> 01:16:07,480
Bro, you got rich dudes
pissing in their pants right now.
1496
01:16:07,480 --> 01:16:10,274
I mean, c'mon, man, how many people
from Brockton High can say that?
1497
01:16:10,274 --> 01:16:11,442
This has gone crazy,
1498
01:16:11,442 --> 01:16:14,278
I got reporters hounding me
outside my house.
1499
01:16:14,278 --> 01:16:16,405
Yeah, man, me too.
They're coming after you.
1500
01:16:17,990 --> 01:16:19,700
You didn't talk to them, did you?
1501
01:16:19,700 --> 01:16:23,037
What do I look like? I said no.
I said give me 50 grand maybe.
1502
01:16:23,037 --> 01:16:24,121
Tell me you're kidding.
1503
01:16:24,121 --> 01:16:26,791
Well, if you give me 20, then maybe
we wouldn't have to deal with this shit.
1504
01:16:26,791 --> 01:16:27,833
The fuck is wrong with you!?
1505
01:16:27,833 --> 01:16:31,253
Kevin, I've just been subpoenaed
by Congress, man.
1506
01:16:31,253 --> 01:16:32,922
I do not have time for your bullshit.
1507
01:16:32,922 --> 01:16:35,466
- Oh, come off it, man!
- Seriously, asshole.
1508
01:16:35,466 --> 01:16:37,426
- Chill! It was a joke!
- Fuck!
1509
01:16:45,351 --> 01:16:46,185
I know.
1510
01:16:47,019 --> 01:16:47,895
Sorry.
1511
01:16:54,985 --> 01:16:57,154
We never used to fight this much.
1512
01:17:00,074 --> 01:17:02,034
- Sara.
- I miss her.
1513
01:17:02,660 --> 01:17:03,536
Me too.
1514
01:17:04,119 --> 01:17:05,538
She kept your ego in check.
1515
01:17:06,205 --> 01:17:08,374
Whole fuckin' world kept my ego in check.
1516
01:17:09,458 --> 01:17:12,127
What the fuck are you gonna tell
Congress, Keith? Huh?
1517
01:17:13,212 --> 01:17:15,256
Beg them not to send me to prison?
1518
01:17:17,508 --> 01:17:18,342
Hey...
1519
01:17:19,093 --> 01:17:23,222
Hey, do you remember back at Stonehill
when they dared me to run that mile naked?
1520
01:17:23,722 --> 01:17:25,432
Yeah, there was a crazy storm that night.
1521
01:17:25,432 --> 01:17:27,142
- You dumb shit.
- Fuck you, man.
1522
01:17:27,142 --> 01:17:29,562
That was dope, man.
I'm a legend over there.
1523
01:17:29,562 --> 01:17:30,813
Everybody remembers that!
1524
01:17:30,813 --> 01:17:31,939
- Okay.
- They do, man.
1525
01:17:31,939 --> 01:17:33,983
You don't think people remember
your 4-minute 3-second mile?
1526
01:17:33,983 --> 01:17:35,943
Oh... what is this, a pep talk?
1527
01:17:35,943 --> 01:17:37,444
Motherfucker, stop hiding.
1528
01:17:37,444 --> 01:17:40,990
Seriously. Okay, stop being all meek
and shit and running away.
1529
01:17:41,824 --> 01:17:44,368
What, you want me to run through
lightning with my dick out?
1530
01:17:44,368 --> 01:17:45,369
Yeah.
1531
01:17:45,369 --> 01:17:47,538
Please, exactly that.
1532
01:17:48,247 --> 01:17:50,541
Run through lightning with your dick out.
Fuck it.
1533
01:17:58,757 --> 01:18:00,217
You didn't go to your mom's?
1534
01:18:02,136 --> 01:18:03,345
You took the car.
1535
01:18:05,097 --> 01:18:07,182
How was the run? Did it clear your head?
1536
01:18:07,975 --> 01:18:09,518
Kev found me, brought me these.
1537
01:18:09,518 --> 01:18:12,021
Hm. You guys talked?
1538
01:18:12,521 --> 01:18:15,274
Yup, he, uh, told me to run naked.
1539
01:18:15,774 --> 01:18:17,359
- You ran naked?
- No.
1540
01:18:17,359 --> 01:18:21,530
Uh, it's a metaphor. He's saying
I gotta take this thing head on.
1541
01:18:22,615 --> 01:18:23,449
Well...
1542
01:18:29,038 --> 01:18:30,623
I'd kinda like to see you run naked.
1543
01:18:34,251 --> 01:18:36,921
By the way, Wall Street Bets is back up.
1544
01:18:38,547 --> 01:18:39,924
The motherfucker held.
1545
01:18:40,674 --> 01:18:45,054
Holy shit! He lost 30 million,
and he still fucking held.
1546
01:18:48,432 --> 01:18:50,142
- Robinhood's back up.
- What?
1547
01:18:50,935 --> 01:18:53,354
- We gotta get back in.
- Where's the stock at right now?
1548
01:18:54,104 --> 01:18:55,105
109.
1549
01:18:55,606 --> 01:18:56,649
Are you sure?
1550
01:18:57,149 --> 01:18:59,902
That's like all of the money
that we made back into the stock.
1551
01:19:03,781 --> 01:19:06,283
Yeah. We can't let them
get away with this.
1552
01:19:08,369 --> 01:19:09,203
Fuck 'em.
1553
01:19:09,787 --> 01:19:10,996
If he's in, I'm in.
1554
01:19:11,872 --> 01:19:13,082
If he's in, I'm in.
1555
01:19:16,585 --> 01:19:17,586
Okay.
1556
01:19:19,254 --> 01:19:20,214
Fuck!
1557
01:19:26,261 --> 01:19:30,891
The frenzy continues with retail investors
bidding back up GameStop.
1558
01:19:30,891 --> 01:19:33,060
- Meme stock mania is back.
- ...up more than 80%
1559
01:19:33,060 --> 01:19:35,604
as those message board traders
simply sent it higher.
1560
01:19:35,604 --> 01:19:37,272
Stock volatility continuing,
1561
01:19:37,272 --> 01:19:40,150
it looks like this morning once again
GameStop are involved in
1562
01:19:40,150 --> 01:19:43,570
an ongoing battle between
retail investors and short sellers.
1563
01:19:43,570 --> 01:19:45,114
We're gonna have a lot more
on this story.
1564
01:19:45,114 --> 01:19:48,200
CEOs of Robinhood, Reddit,
Citadel and Melvin Capital.
1565
01:19:48,200 --> 01:19:51,620
Along with Keith Gill,
better known as Roaring Kitty
1566
01:19:51,620 --> 01:19:54,999
on social media, will be in the hot seat.
1567
01:19:59,461 --> 01:20:02,548
I'm here testifying today
far removed from my background.
1568
01:20:02,548 --> 01:20:05,634
I grew up in a middle-class family
in Portland, Maine.
1569
01:20:05,634 --> 01:20:07,302
My dad was a grocery store executive.
1570
01:20:07,302 --> 01:20:08,762
Maybe leave that part out.
1571
01:20:10,097 --> 01:20:11,181
The part about my dad?
1572
01:20:11,181 --> 01:20:12,307
The executive part.
1573
01:20:12,307 --> 01:20:13,892
Okay... okay.
1574
01:20:17,229 --> 01:20:21,692
I went to a public high school.
I studied hard and got into Northwestern.
1575
01:20:21,692 --> 01:20:23,777
- Just say "a good college."
- Upon...
1576
01:20:23,777 --> 01:20:25,362
I can't say I went to Northwestern?
1577
01:20:25,362 --> 01:20:27,239
- Too elite.
- Northwestern's too...
1578
01:20:27,906 --> 01:20:28,741
All right.
1579
01:20:32,745 --> 01:20:37,332
Upon graduation, I did not have a job.
Today, I'm married with four children.
1580
01:20:37,332 --> 01:20:39,585
Gabe, where do you plan on
doing your testimony?
1581
01:20:41,962 --> 01:20:44,715
- Here.
- In front of your wine collection?
1582
01:20:46,759 --> 01:20:49,928
I mean, this is... I don't have that big
of a wine collection honestly.
1583
01:20:49,928 --> 01:20:50,971
Yeah, it's huge.
1584
01:20:50,971 --> 01:20:52,890
Digital risks seem to be overblown.
1585
01:20:52,890 --> 01:20:55,392
Two, the negative sentiment is overdone.
1586
01:20:55,392 --> 01:20:59,188
- Three, the value...
- Maybe... here would be nice.
1587
01:21:02,483 --> 01:21:04,485
- Too many windows.
- Too many windows... Oh.
1588
01:21:04,485 --> 01:21:05,652
It's very bright.
1589
01:21:05,652 --> 01:21:08,822
- Yeah, ocean front's not a great idea.
- It's blue.
1590
01:21:08,822 --> 01:21:10,574
Yeah. Okay, I hadn't thought of that.
1591
01:21:10,574 --> 01:21:13,494
That, uh, yeah, downstairs there's more...
there's probably darker rooms.
1592
01:21:13,494 --> 01:21:15,662
What a bandit.
Most of you know this guy,
1593
01:21:15,662 --> 01:21:17,289
who is the Roaring Kitty character,
1594
01:21:17,289 --> 01:21:18,749
- who was really pushing it.
- Holy shit.
1595
01:21:18,749 --> 01:21:20,793
- You know, voicing the information.
- Yo, Riri, our boy's on the news.
1596
01:21:20,793 --> 01:21:22,711
And what's the potentially systemic risk?
1597
01:21:22,711 --> 01:21:25,047
Those relationships in D.C. are strong.
1598
01:21:25,047 --> 01:21:29,176
The guys who run those hedge funds are
the guys who fund presidential campaigns.
1599
01:21:29,176 --> 01:21:31,136
- You know Roaring Kitties don't have
- That's a good point.
1600
01:21:31,136 --> 01:21:32,554
- that kind of influence,
- Gill is now being sued
1601
01:21:32,554 --> 01:21:33,639
- but the hedge fund managers do.
- for securities fraud
1602
01:21:33,639 --> 01:21:35,974
over his alleged role
in the GameStop rally.
1603
01:21:35,974 --> 01:21:38,852
Is Mr. Gill likely to appear,
and if he appears,
1604
01:21:38,852 --> 01:21:43,023
is he likely to talk
if he faces the potential of prosecution?
1605
01:21:43,023 --> 01:21:48,028
Fundamentals are based on three things:
One, digital risks are overblown.
1606
01:21:48,028 --> 01:21:49,947
Two, the negative sentiment is overdone.
1607
01:21:49,947 --> 01:21:51,156
And three...
1608
01:21:54,868 --> 01:21:55,702
Fuck.
1609
01:21:55,702 --> 01:21:57,913
- Ah, c'mon, shut up.
- I know all this.
1610
01:21:59,331 --> 01:22:01,834
You guys, you guys, stop.
Stop, let's keep going.
1611
01:22:01,834 --> 01:22:02,960
All right, let's go again.
1612
01:22:02,960 --> 01:22:05,295
You're right, this is serious.
You can go to jail forever.
1613
01:22:05,295 --> 01:22:06,922
- A long time. Long, long time.
- All right. You ready?
1614
01:22:06,922 --> 01:22:08,882
You ready here we go. Back in the game.
1615
01:22:08,882 --> 01:22:12,052
- Mr. Gill. May I call you Mr. Gill, sir?
- It's my name.
1616
01:22:12,052 --> 01:22:14,555
Why the fuck wouldn't you be able
to call him Mr. Gill?
1617
01:22:14,555 --> 01:22:16,515
What were your intentions
with the YouTube videos
1618
01:22:16,515 --> 01:22:18,142
and your social media posts on GameStop?
1619
01:22:18,142 --> 01:22:19,726
- Yes.
- Thank you, congresswoman.
1620
01:22:19,726 --> 01:22:21,228
You're welcome.
1621
01:22:21,228 --> 01:22:23,355
I developed a theory
that the company was undervalued
1622
01:22:23,355 --> 01:22:25,149
despite the significant short interest.
1623
01:22:25,149 --> 01:22:27,151
Oh, so you were aware
of the short interest.
1624
01:22:27,151 --> 01:22:29,736
It is public knowledge.
You can see it in the SEC filings.
1625
01:22:29,736 --> 01:22:32,072
And your goal
was to break these shorts, yes?
1626
01:22:32,072 --> 01:22:35,701
To rally an online mob to artificially
push the price of GameStop soaring,
1627
01:22:35,701 --> 01:22:38,829
ah, "to the moon" as they say,
isn't that correct, Mr. Gill?
1628
01:22:38,829 --> 01:22:40,789
Objection, objection,
you're leading the witness.
1629
01:22:40,789 --> 01:22:41,874
- Kev...
- Witness.
1630
01:22:41,874 --> 01:22:43,333
I yield my time to the chair.
1631
01:22:43,333 --> 01:22:45,794
You were hoping for the short squeeze,
weren't you, Mr. Gill?
1632
01:22:45,794 --> 01:22:46,962
You short squeezing bastard.
1633
01:22:46,962 --> 01:22:49,047
The short squeeze
was a marginal point of the thesis.
1634
01:22:49,047 --> 01:22:51,216
Then why did you talk about it
in your videos all the time?
1635
01:22:51,216 --> 01:22:53,051
You did talk about it in your videos.
You talked about it a lot.
1636
01:22:53,051 --> 01:22:54,595
- You remember about the squeeze.
- Exactly.
1637
01:22:54,595 --> 01:22:55,804
You were like
"It's just a little squeeze."
1638
01:22:55,804 --> 01:22:56,805
Exactly.
1639
01:22:56,805 --> 01:22:59,349
Are you really asking us to believe
that you weren't a leader
1640
01:22:59,349 --> 01:23:01,560
- to all these retail traders?
- You're fucked, buddy.
1641
01:23:01,560 --> 01:23:03,729
- My point of view...
- Asking. Yes or no?
1642
01:23:03,729 --> 01:23:05,230
- Yes or no?
- Yes. So yes.
1643
01:23:05,230 --> 01:23:06,440
- Yes or no?
- You are admitting it. Yes.
1644
01:23:06,440 --> 01:23:07,858
Remember you with a cheap bottle
of champagne.
1645
01:23:07,858 --> 01:23:09,067
At any moment... Kevin!
1646
01:23:09,067 --> 01:23:10,110
- Kevin!
- Dunking tendies like a fucking--
1647
01:23:10,110 --> 01:23:11,028
What?
1648
01:23:12,321 --> 01:23:14,698
I'm running with my dick out.
1649
01:23:15,782 --> 01:23:17,159
Okay, why don't you just say that?
1650
01:23:17,159 --> 01:23:18,535
Okay, I'll stop.
1651
01:23:19,328 --> 01:23:24,208
All right. Mr. Gill, what exactly
about the fundamentals
1652
01:23:24,208 --> 01:23:27,502
- led you to build this bull case?
- What the fuck's with the voice?
1653
01:23:27,502 --> 01:23:29,838
I don't know, I was trying to do AOC,
but it was flat.
1654
01:23:29,838 --> 01:23:31,131
I don't even think she's on the panel.
1655
01:23:31,131 --> 01:23:32,341
You shut the fuck up, Briggsy.
1656
01:23:32,341 --> 01:23:33,717
- I'll slap the shit out of you.
- Is she on that panel?
1657
01:23:33,717 --> 01:23:34,635
- I swear to God.
- You're gonna slap me?
1658
01:23:34,635 --> 01:23:36,011
- Yeah, let's go.
- You ready to go?
1659
01:23:36,011 --> 01:23:38,680
- Let's go.
- I've been waiting for this, dog.
1660
01:23:56,114 --> 01:23:56,949
Come here.
1661
01:24:05,707 --> 01:24:07,668
You're gonna be great.
1662
01:24:08,919 --> 01:24:11,630
If it goes bad, it's gonna be real bad.
1663
01:24:11,630 --> 01:24:13,423
Well, don't let it go bad.
1664
01:24:13,423 --> 01:24:17,678
This hearing will be first
in a series of hearings by the committee
1665
01:24:17,678 --> 01:24:22,766
to examine the recent market volatility
involving GameStop.
1666
01:24:22,766 --> 01:24:27,354
I want to know how each
of the witnesses here today
1667
01:24:27,354 --> 01:24:29,523
- contributed to the historic...
- Gabe, can you sit up?
1668
01:24:29,523 --> 01:24:32,693
trading events in January.
1669
01:24:33,235 --> 01:24:35,487
This recent market volatility
1670
01:24:35,487 --> 01:24:40,075
has put a national spotlight
on institutional practices
1671
01:24:40,075 --> 01:24:41,743
by Wall Street firms.
1672
01:24:41,743 --> 01:24:45,414
And they have demonstrated
the enormous potential power
1673
01:24:45,414 --> 01:24:48,125
of social media in our markets.
1674
01:24:48,709 --> 01:24:52,254
We will hear firsthand from the witnesses
regarding these events.
1675
01:24:52,879 --> 01:24:57,050
The hearing will be an opportunity
for this committee to get the facts
1676
01:24:57,050 --> 01:25:00,304
about the role
each of the witnesses represent,
1677
01:25:00,304 --> 01:25:03,932
played in the events
we are examining today.
1678
01:25:03,932 --> 01:25:06,393
Well, now, Mr. Griffin,
if I could ask you this first question.
1679
01:25:06,393 --> 01:25:07,311
Of course.
1680
01:25:07,311 --> 01:25:09,479
How many people
are in the room with you?
1681
01:25:10,355 --> 01:25:11,398
That's your question?
1682
01:25:11,398 --> 01:25:13,483
If you can just count how many
people are in the room with you.
1683
01:25:18,113 --> 01:25:21,616
There are five people,
including myself, in this room.
1684
01:25:21,616 --> 01:25:23,285
- Anyone in your organization...
- Such a prick.
1685
01:25:23,285 --> 01:25:25,495
since January 1st, contact Robinhood?
1686
01:25:25,495 --> 01:25:30,334
We of course talk to Robinhood routinely
in the ordinary course of business.
1687
01:25:30,334 --> 01:25:32,669
We manage a substantial portion
of their order flow.
1688
01:25:32,669 --> 01:25:35,047
But did you talk to them about restricting
1689
01:25:35,047 --> 01:25:39,259
or doing anything to prevent people
from buying GameStop?
1690
01:25:39,259 --> 01:25:42,054
I want to be perfectly clear.
1691
01:25:42,054 --> 01:25:45,766
We had no role in Robinhood's decision
1692
01:25:45,766 --> 01:25:48,018
- to limit trading in GameStop.
- Fuck you, Ken Griffin.
1693
01:25:48,018 --> 01:25:51,897
So, if we depose everyone
in your organization, we would find that?
1694
01:25:52,564 --> 01:25:53,482
That is correct.
1695
01:25:53,482 --> 01:25:56,109
Looks like a Disney Channel villain.
1696
01:25:56,109 --> 01:26:00,697
Mr. Plotkin, do you believe
that there is manipulation, distrust,
1697
01:26:00,697 --> 01:26:03,617
and overall inequality
within American finance?
1698
01:26:03,617 --> 01:26:05,786
My focus is on my company, Melvin...
1699
01:26:07,454 --> 01:26:08,622
Hello?
1700
01:26:08,622 --> 01:26:10,332
You're on mute, dick!
1701
01:26:10,332 --> 01:26:11,958
Ah, I'm sorry, you're on mute.
1702
01:26:16,171 --> 01:26:17,839
He just keeps going.
1703
01:26:17,839 --> 01:26:19,674
...my area of expertise.
1704
01:26:19,674 --> 01:26:23,428
You're still on mute. I haven't been able
to hear a word you said, unfortunately.
1705
01:26:23,428 --> 01:26:25,806
Mr. Tenev,
would you be willing to commit today
1706
01:26:25,806 --> 01:26:27,974
- to voluntarily pass on the proceeds...
- Oh. Marry me.
1707
01:26:27,974 --> 01:26:30,769
of the payment for order flow
to Robinhood customers?
1708
01:26:30,769 --> 01:26:33,313
Congresswoman, I appreciate that question.
1709
01:26:33,313 --> 01:26:37,526
When the statement you refer to was made,
it was before Robinhood forced
1710
01:26:37,526 --> 01:26:39,528
the entire industry to drop
1711
01:26:39,528 --> 01:26:41,238
- commissions and replicate our...
- I should take that as a no.
1712
01:26:41,238 --> 01:26:44,074
You're not willing to pass on
the proceeds of payment for order flow
1713
01:26:44,074 --> 01:26:45,033
to your customers?
1714
01:26:45,033 --> 01:26:47,744
- When the other brokers drop...
- I'm just talking about today.
1715
01:26:47,744 --> 01:26:48,954
- Asshole.
- I don't want to be rude.
1716
01:26:48,954 --> 01:26:50,330
I just have limited time,
1717
01:26:50,330 --> 01:26:54,334
but if removing the revenues that you make
from a payment for order flow
1718
01:26:54,334 --> 01:26:57,838
would cause the removal
of free commissions,
1719
01:26:57,838 --> 01:26:59,631
doesn't that mean that
trading on Robinhood
1720
01:26:59,631 --> 01:27:01,591
isn't actually free to begin with?
1721
01:27:01,591 --> 01:27:02,968
Good question.
1722
01:27:09,599 --> 01:27:11,852
Thank you very much, Mr. Gill.
1723
01:27:11,852 --> 01:27:16,481
You are now recognized for five minutes
to present your oral testimony.
1724
01:27:28,410 --> 01:27:30,871
Thank you, members of the committee.
1725
01:27:33,415 --> 01:27:36,710
I am happy to discuss my purchase
of GameStop shares
1726
01:27:37,294 --> 01:27:40,672
and my discussions of their fair value
on social media.
1727
01:27:41,506 --> 01:27:43,133
But before I do that,
1728
01:27:43,133 --> 01:27:45,051
a few things I am not:
1729
01:27:46,845 --> 01:27:48,054
I am not a cat.
1730
01:27:49,598 --> 01:27:51,850
- What did he say?
- He just said cat, Ma.
1731
01:27:51,850 --> 01:27:53,143
It's like a kitty thing.
1732
01:27:53,143 --> 01:27:55,562
Nor am I a hedge fund.
I do not have clients,
1733
01:27:55,562 --> 01:28:00,901
and I do not provide personalized
investment advice for fees or commissions.
1734
01:28:00,901 --> 01:28:02,986
I grew up in Brockton, Mass.
1735
01:28:03,737 --> 01:28:05,614
My family was not wealthy.
1736
01:28:05,614 --> 01:28:08,950
My father was a truck driver
and my mom a registered nurse.
1737
01:28:08,950 --> 01:28:11,161
- That's you, Ma!
- I was one of three kids
1738
01:28:11,161 --> 01:28:14,247
and the first in my family
to earn a four-year college degree
1739
01:28:14,247 --> 01:28:18,418
when I graduated from Stonehill College
in 2009.
1740
01:28:18,418 --> 01:28:20,545
That was not a good time
to be looking for a job.
1741
01:28:20,545 --> 01:28:23,048
From 2010-2017,
1742
01:28:23,048 --> 01:28:26,510
there were significant periods
when I was unemployed.
1743
01:28:26,510 --> 01:28:28,887
I took an interest in the stock market,
1744
01:28:28,887 --> 01:28:31,181
and even though I had very little money,
1745
01:28:31,181 --> 01:28:35,393
I used those times to educate myself
and learn more about investing.
1746
01:28:35,393 --> 01:28:39,356
Mr. Gill, I find it hard to believe
that you predicted everything
1747
01:28:39,356 --> 01:28:43,026
that happened to GameStop
with no inside information.
1748
01:28:43,026 --> 01:28:44,778
Uh, I didn't predict it.
1749
01:28:44,778 --> 01:28:48,156
I honestly couldn't explain everything
that happened in January.
1750
01:28:48,156 --> 01:28:51,993
I've seen your videos. You honestly
couldn't recount to the committee
1751
01:28:51,993 --> 01:28:56,581
what caused every single up and down
of the stock in January?
1752
01:28:57,165 --> 01:28:58,291
I think you could.
1753
01:28:59,626 --> 01:29:03,004
I did follow the stock, uh, very closely,
1754
01:29:03,004 --> 01:29:06,633
but threshold lists, order flows,
halting purchases, according to the press,
1755
01:29:06,633 --> 01:29:08,593
these all had a material impact
on the stock.
1756
01:29:08,593 --> 01:29:11,263
Here's the thing: I have
a bit of experience with this stuff,
1757
01:29:11,263 --> 01:29:13,265
and even I barely understand
these matters.
1758
01:29:13,265 --> 01:29:17,143
It's alarming how little we all know
about the inner workings of the market.
1759
01:29:17,143 --> 01:29:19,854
Which is why I'm glad this committee
is examining what happened,
1760
01:29:19,854 --> 01:29:22,649
particularly with the exorbitant
short interest
1761
01:29:22,649 --> 01:29:25,610
as well as any potentially
manipulative shorting practices
1762
01:29:25,610 --> 01:29:29,781
and brokers' reported failures to
timely deliver shares and settle trades.
1763
01:29:33,076 --> 01:29:35,287
A lot of people feel the system is broken.
1764
01:29:35,287 --> 01:29:39,374
The whole idea of the stock market is to
be, like, kind of a fair playing field,
1765
01:29:39,374 --> 01:29:43,295
where if you're smart, maybe with a little
luck, you could make your fortune.
1766
01:29:44,087 --> 01:29:46,423
But, if it ever was that,
it's certainly not any more.
1767
01:29:47,507 --> 01:29:50,844
The big firms have such a big advantage,
in terms of technology and information
1768
01:29:50,844 --> 01:29:54,180
and just sheer wealth, there's no hope
for the little guy anymore.
1769
01:29:54,931 --> 01:29:56,808
Or there was no hope.
1770
01:29:57,559 --> 01:29:59,603
Maybe now, there is.
1771
01:30:01,771 --> 01:30:03,231
And as for me,
1772
01:30:03,940 --> 01:30:05,108
I like the stock.
1773
01:30:06,109 --> 01:30:08,570
He's a gangster for that.
1774
01:30:08,570 --> 01:30:10,280
I don't plan on selling any time soon.
1775
01:30:10,280 --> 01:30:11,990
- Hold it.
- Say that shit.
1776
01:30:11,990 --> 01:30:13,033
Diamond fucking hands.
1777
01:30:13,033 --> 01:30:14,034
Diamond hands, baby.
1778
01:30:15,160 --> 01:30:16,703
Attaboy.
1779
01:30:16,703 --> 01:30:18,079
What a nerd.
1780
01:30:18,705 --> 01:30:19,539
Thank you.
1781
01:30:27,297 --> 01:30:29,716
It was good. I think.
1782
01:30:30,884 --> 01:30:33,762
Yesterday's Reddit hearing
in Congress brought together
1783
01:30:33,762 --> 01:30:36,139
some of the power players
behind the January trading frenzy.
1784
01:30:36,139 --> 01:30:39,392
Representative Maxine Waters did
say there will be additional hearings...
1785
01:30:39,392 --> 01:30:42,604
What you got here involves people
named DFV and Roaring Kitty, ultimately...
1786
01:30:42,604 --> 01:30:45,649
...two more to follow to find
more answers, one market expert...
1787
01:30:45,649 --> 01:30:47,442
Whether it's markets
or social media,
1788
01:30:47,442 --> 01:30:49,235
I'll just call it media because it is now.
1789
01:30:49,235 --> 01:30:51,154
Do you think any new regulation gets done?
1790
01:30:51,154 --> 01:30:53,323
What's clear is that
we're in the Wild West
1791
01:30:53,323 --> 01:30:56,493
and that there is so much activity
that's going on, on these online forums.
1792
01:30:56,493 --> 01:30:59,788
And we've seen in the last month
and the last six weeks how much force
1793
01:30:59,788 --> 01:31:03,416
day traders en masse can bring
to the market and actually affect it.
1794
01:31:03,416 --> 01:31:05,460
They used to just make some noise
around the edges.
1795
01:31:05,460 --> 01:31:08,254
Now they can actually move markets,
move securities.
1796
01:31:39,744 --> 01:31:40,870
Cheers, everyone.
1797
01:31:47,919 --> 01:31:48,837
Ah.
1798
01:31:57,387 --> 01:31:58,930
You're a fucking gangster.
1799
01:32:18,575 --> 01:32:21,077
Hey, man, I notice you've been
selling a lot of new games,
1800
01:32:21,077 --> 01:32:24,372
and I just wanted to remind you, again,
that we really wanna be pushing customers
1801
01:32:24,372 --> 01:32:26,958
towards the higher-margin pre-owned games.
1802
01:32:28,001 --> 01:32:29,961
Yeah, I'm not gonna do that.
1803
01:32:29,961 --> 01:32:30,879
Excuse me?
1804
01:32:30,879 --> 01:32:33,590
Oh, and in fact, I'm not gonna do
any of the Circle of Life bullshit.
1805
01:32:33,590 --> 01:32:35,049
Or your TikTok dance contest.
1806
01:32:35,049 --> 01:32:36,134
You're quitting, then.
1807
01:32:38,094 --> 01:32:39,095
Okay.
1808
01:32:39,095 --> 01:32:40,930
No, I mean, I thought about it, but...
1809
01:32:41,931 --> 01:32:43,725
Like, yo, I love it here.
1810
01:32:43,725 --> 01:32:45,477
So I think I'm gonna stay.
1811
01:32:45,477 --> 01:32:49,022
Well, you're awfully smug for a kid
who lost all his money buying stock.
1812
01:32:49,522 --> 01:32:51,941
What did you say it was going to?
A thousand?
1813
01:32:53,193 --> 01:32:55,695
I'm also not gonna work
at the ass crack of dawn any more.
1814
01:32:56,821 --> 01:32:57,697
You're fired.
1815
01:32:59,616 --> 01:33:00,867
No, I'm not.
1816
01:33:00,867 --> 01:33:03,661
You gotta get that approved
by like seven levels of people, yo.
1817
01:33:04,162 --> 01:33:06,706
Thanks to the geniuses
who put that together.
1818
01:33:06,706 --> 01:33:08,750
The ones who used to own my ass.
1819
01:33:09,250 --> 01:33:10,251
You sold?
1820
01:33:11,544 --> 01:33:12,378
Half.
1821
01:33:13,713 --> 01:33:15,673
Right at the tippy tippy top.
1822
01:33:15,673 --> 01:33:18,510
And I'm holding the other half
for the long haul.
1823
01:33:18,510 --> 01:33:20,345
♪ 'Cause I'm a savage ♪
1824
01:33:20,845 --> 01:33:23,431
♪ Classy, bougie, ratchet ♪
1825
01:33:23,973 --> 01:33:26,810
♪ Sassy, moody, nasty ♪
1826
01:33:26,810 --> 01:33:29,145
♪ Acting stupid what was happening ♪
1827
01:33:30,480 --> 01:33:34,150
♪ Classy, bougie, ratchet ♪
1828
01:33:34,150 --> 01:33:37,070
♪ Sassy, moody, nasty ♪
1829
01:33:37,070 --> 01:33:39,113
♪ Acting stupid, what's happening? ♪
1830
01:33:39,113 --> 01:33:40,615
♪ Bitch, what's happening? ♪
1831
01:33:40,615 --> 01:33:42,575
♪ Bitch, I'm a savage, yeah ♪
1832
01:33:42,575 --> 01:33:45,245
♪ Classy, bougie, ratchet, yeah ♪
1833
01:33:45,245 --> 01:33:48,081
♪ Sassy, moody, nasty ♪
1834
01:33:48,081 --> 01:33:50,708
♪ Acting stupid, what's happening? ♪
1835
01:33:50,708 --> 01:33:52,627
♪ Bitch, what's happening? ♪
1836
01:33:52,627 --> 01:33:55,421
♪ Eat me and record it
But your edge-up all I'm showing ♪
1837
01:33:55,421 --> 01:33:58,299
♪ I keep my niggas private
So his AP all I'm showing ♪
1838
01:33:58,299 --> 01:34:00,885
♪ Beefing with you bitches
Really getting kinda boring ♪
1839
01:34:00,885 --> 01:34:03,638
♪ If it ain't about the money
Then you know I'm gon' ignore it ♪
1840
01:34:03,638 --> 01:34:04,556
♪ I'm the shit, ooh ♪
1841
01:34:04,556 --> 01:34:07,725
♪ I need a mop to clean the floor
It's too much drip, ooh ♪
1842
01:34:07,725 --> 01:34:09,853
♪ I keep a knot, I keep a watch
I keep a whip... ♪
1843
01:34:09,853 --> 01:34:11,187
Fuck yeah!
1844
01:34:11,729 --> 01:34:14,482
I'm here testifying today
far removed from my background.
1845
01:34:14,482 --> 01:34:16,776
I grew up in a middle-class family
in Portland, Maine.
1846
01:34:16,776 --> 01:34:18,444
I went to a public high school.
1847
01:34:18,444 --> 01:34:20,864
I studied hard
and got into a good college.
1848
01:34:20,864 --> 01:34:23,408
Upon graduation, I did not have a job.
1849
01:34:23,408 --> 01:34:26,494
♪ Bitch, what's happening? ♪
1850
01:34:26,494 --> 01:34:32,458
When the statement you refer to was made,
uh, I believe 2015 or 2016,
1851
01:34:32,458 --> 01:34:35,545
it was before Robinhood
forced the entire industry
1852
01:34:35,545 --> 01:34:38,298
- to drop commissions and replicate our...
- I should take that as a no.
1853
01:34:38,298 --> 01:34:41,217
You're not willing to pass on
the proceeds of payment for order flow
1854
01:34:41,217 --> 01:34:42,427
to your customers?
1855
01:34:42,427 --> 01:34:44,679
♪ That body right
But you know this pussy fat, ooh ♪
1856
01:34:44,679 --> 01:34:47,098
♪ I drop a picture
Now these bitches feel attacked ♪
1857
01:34:47,098 --> 01:34:49,934
♪ Don't let that nigga gas you up
And get you whacked, ooh ♪
1858
01:34:49,934 --> 01:34:51,936
♪ I make a call
and get a pussy nigga smacked... ♪
1859
01:34:51,936 --> 01:34:56,816
But did you talk to them about restricting
or doing anything to prevent people
1860
01:34:56,816 --> 01:35:00,236
from buying, not selling
but buying, in GameStop?
1861
01:35:00,236 --> 01:35:02,363
Let me be perfectly clear.
1862
01:35:03,114 --> 01:35:05,408
Absolutely not.
1863
01:35:30,224 --> 01:35:32,268
As for me, I like the stock.
1864
01:35:32,268 --> 01:35:33,353
♪ Mwah ♪
1865
01:35:35,104 --> 01:35:36,564
Hurry up, dick, it's cold.
1866
01:35:37,440 --> 01:35:39,025
I can't believe you're my brother.
1867
01:35:39,025 --> 01:35:40,568
You look like a fucking Ninja Turtle.
1868
01:35:40,568 --> 01:35:42,236
- Ready?
- Yup.
1869
01:35:43,071 --> 01:35:44,489
- Set... What?
- Fuck you!
1870
01:35:44,489 --> 01:35:45,406
Kevin!
1871
01:35:47,700 --> 01:35:48,743
C'mon, Kitty!
1872
01:35:59,337 --> 01:36:01,464
♪ I'm gonna fight 'em off ♪
1873
01:36:02,799 --> 01:36:06,636
♪ A seven nation army
Couldn't hold me back ♪
1874
01:36:07,178 --> 01:36:09,180
♪ They're gonna rip it off ♪
1875
01:36:10,723 --> 01:36:14,435
♪ Takin' their time right behind my back ♪
1876
01:36:14,435 --> 01:36:20,233
♪ And the message comin' from my eyes
Says, "Leave it alone" ♪
1877
01:36:54,434 --> 01:36:56,644
♪ Don't want to hear about it ♪
1878
01:36:58,271 --> 01:37:01,733
♪ Every single one's got a story to tell ♪
1879
01:37:02,400 --> 01:37:04,360
♪ Everyone knows about it ♪
1880
01:37:05,945 --> 01:37:09,449
♪ From the Queen of England
To the Hounds of Hell ♪
1881
01:37:10,116 --> 01:37:15,204
♪ And if I catch it comin' back my way
I'm gonna serve it to you ♪
1882
01:37:18,249 --> 01:37:22,962
♪ And that ain't what you want to hear
But that's what I'll do ♪
1883
01:37:25,798 --> 01:37:31,137
♪ And the feelin' comin' from my bones
Says, "Find a home" ♪
1884
01:38:21,145 --> 01:38:23,147
♪ I'm goin' to Wichita ♪
1885
01:38:24,774 --> 01:38:28,152
♪ Far from this opera forevermore ♪
1886
01:38:28,903 --> 01:38:30,947
♪ I'm gonna work the straw ♪
1887
01:38:32,448 --> 01:38:36,119
♪ Make the sweat drip out of every pore ♪
1888
01:38:36,869 --> 01:38:42,041
♪ And I'm bleedin' and I'm bleedin'
And I'm bleedin' right before the Lord ♪
1889
01:38:44,710 --> 01:38:49,757
♪ All the words are gonna bleed from me
And I will think no more ♪
1890
01:38:52,468 --> 01:38:57,431
♪ And the stains comin' from my blood
Tell me, "Go back home" ♪
1891
01:39:19,829 --> 01:39:22,456
♪ You make me wanna
You make me wanna ♪
1892
01:39:23,499 --> 01:39:24,709
♪ You make me wanna ♪
1893
01:39:27,336 --> 01:39:30,131
♪ You make me wanna
You make me wanna ♪
1894
01:39:30,965 --> 01:39:32,425
♪ You make me wanna ♪
1895
01:39:34,969 --> 01:39:37,889
♪ You make me wanna
You make me wanna ♪
1896
01:39:38,556 --> 01:39:40,057
♪ You make me wanna ♪
1897
01:39:56,199 --> 01:39:57,408
♪ You make me wanna ♪
1898
01:40:03,164 --> 01:40:04,624
♪ You make me wanna ♪
1899
01:40:05,666 --> 01:40:08,586
♪ You make me wanna
You make me wanna ♪
1900
01:40:09,253 --> 01:40:10,713
♪ You make me wanna ♪
1901
01:40:13,049 --> 01:40:16,469
♪ You make me wanna
You make me wanna ♪
1902
01:40:17,261 --> 01:40:18,512
♪ You make me wanna ♪
1903
01:40:36,530 --> 01:40:39,450
♪ You make me wanna
You make me wanna ♪
1904
01:40:40,409 --> 01:40:41,494
♪ You make me wanna ♪
1905
01:40:44,038 --> 01:40:47,208
♪ You make me wanna
You make me wanna ♪
1906
01:40:47,833 --> 01:40:49,126
♪ You make me wanna ♪
1907
01:40:51,045 --> 01:40:54,799
♪ You make me wanna
You make me wanna ♪
1908
01:40:55,633 --> 01:40:57,009
♪ You make me wanna ♪
1909
01:41:10,523 --> 01:41:12,149
♪ You make me wanna ♪
1910
01:41:18,489 --> 01:41:19,615
♪ You make me wanna ♪
1911
01:41:20,700 --> 01:41:23,661
♪ You make me wanna
You make me wanna ♪
1912
01:41:24,453 --> 01:41:25,705
♪ You make me wanna ♪
1913
01:41:27,873 --> 01:41:31,335
♪ You make me wanna
You make me wanna ♪
1914
01:41:32,169 --> 01:41:33,296
♪ You make me wanna ♪
155065
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