Quote · All-In with Chamath, Jason, Sacks & Friedberg
GameStop CEO Ryan Cohen's $56B Plan to Take Over eBay
Where this was said
Why eBay has rejected the offer, media bias
At 1:01:33 · chapter starts 49:33
Cohen describes eBay's rejection letter citing 'financing uncertainty,' the board and CEO refusing all meeting requests, and his rebuttal that the financing comes from eBay's own balance sheet. [1] — Ryan Cohen "eBay's board rejected Cohen's $56B bid, citing financing uncertainty. Cohen calls this illogical: the financing comes from eBay's own balan…" 50:06
GameStop has made an unsolicited $56 billion offer to acquire eBay, structured as 50% cash and 50% GameStop stock at a premium.
eBay's board rejected Cohen's $56B bid, citing financing uncertainty. Cohen calls this illogical: the financing comes from eBay's own balance sheet, so if GameStop can't get it, neither can eBay. He's committed to escalate regardless.
Cohen is committing $500 million of personal capital and has never taken money out of GameStop, yet the media roots for an entrenched management team that has never bought a single open-market share. His question: what is more American than risking your own money?
Ryan Cohen is personally committing $500 million of his own money into the eBay transaction, stating he has never pulled a penny out of GameStop.
eBay's current CEO has a golden parachute valued at over $100 million if he is let go following an acquisition.
Friedberg argues the media's hostility to Cohen isn't about the eBay deal — it's about protecting the narrative that GameStop was always a meme stock. To grant Cohen credibility now would force every commentator to admit they were wrong.
