Dumb Money Movies  (2023) - video Dailymotion

Silver Screen Global

David vs. Goliath tale about everyday people who flipped the script on Wall Street and got rich by turning GameStop (the video-game store) into the world's hottest company.

Transcript

00:00:00You

00:00:30You

00:01:00You

00:01:11So

00:01:12I'm here and I do not see

00:01:16Anything happening, right at all. Look, I'm very sorry. That's what I'm trying to understand is what is the reason for this delay?

00:01:25So sorry, but it's just

00:01:27We

00:01:28Closed in November. We had all the permit applications in before the end of the year

00:01:32Once we get the final stamp of approval and we can't get the trucks here a little early just you know

00:01:36Ordinances won't let me do that. Anyone actually forcing mr. Plotkin. I know that you're eager to move in

00:01:41Okay, once we get the final step of approval, you're gonna be the first second. Sure

00:01:47Hello

00:01:50You see what's going on at GME

00:01:57Oh

00:02:02Okay, honey, they're holding it just crossed on jerk

00:02:09Where are you you should probably dial in

00:02:19Free seven days a week ass puss make that pull out game

00:02:28I

00:02:31Will tell you I've never seen anything like it

00:02:34I'm calling it the ultimate short squeeze. You can lose money to infinity

00:02:42Put this pussy right in your face

00:02:57Big

00:03:06We're having some sort of miscommunication here because I'm not trying to move into that house

00:03:09I'm trying to tear that house down so I can build a tennis court for me my family to play during the pandemic

00:03:14I thought it'd be very simple. Apparently it isn't because the pandemic is almost over. There's no

00:03:19Thank you for your time

00:03:20Yes

00:03:22Hi, it's Ken

00:03:25Griffin

00:03:27Hi

00:03:30Hi there Ken, how are you? Great to hear from you. Do you have a minute? I

00:03:39Gotta call you right back. If that's okay. I'm so sorry

00:03:44Sure. Okay, great

00:03:46Hi, what's happening right now? It looks like there's one guy driving all the buying what what what guy

00:03:53I believe his name is roaring kitty

00:04:00Wait

00:04:03Deep fucking value

00:04:08Warren kitty on YouTube and deep fucking value on reddit

00:04:22I

00:04:24Know but I think I just came

00:04:52I

00:05:22I

00:05:32Ruby Ruby, right? Yeah, I got a couple of honeys. What sorry?

00:05:37Boy, I'm gonna have a what's wrong with a honey drinking since we're 17. Hey drink what you like. No judgment

00:05:43You have a hands on one of those the fuck. Did you just order? It's a nice one out of Milwaukee

00:05:50Good-quality 50 cents a chemical. Come on. Forget about price get him a Heineken. Thank you. It's on me. Thanks, man

00:05:56Thank you. That's nice

00:05:59So a Heineken on a ham, thank you

00:06:02Thank You Ruby

00:06:09Hey a bit man, oh sure things. Oh, yeah. Okay

00:06:20That's your asshole brother still an asshole, okay

00:06:24Keep busy at least

00:06:26The day job at mass mutual working on my portfolio. It's the last thing you should be worrying about right now

00:06:32Why it's uh, it's a good distraction. Let me take that over for you

00:06:35We've got thousands of analysts at B of a to do just this good man. Come on

00:06:40You should be focused on your family right now not fucking around with penny stock. They're not all penny stocks game

00:06:44Stop isn't the penny stop game stop

00:06:47Just a love game stop

00:06:49Well, I think it's undervalued. Oh, I just sold off a bunch of other shit to double down how much we talking grand 50 bucks

00:06:57grand

00:06:5953 grand

00:07:06Kitty

00:07:09And you don't even own a house it's got a ton of short interest which is artificially pushing

00:07:13Bro, you never bet against Wall Street Street gets it wrong all the time. Look good. Oh wait, that was a one-off

00:07:18These guys they have all the money and the fancy degrees in the political juice in the world and they get it wrong

00:07:23Are you ready? I got the advantage and they still get it wrong

00:07:28No, give me that I'm drinking it even if it's 50 cents, it's four bucks

00:07:32Well, my man just spent 53 key on a penny stock. So I'm gonna fought his water

00:07:36You're a Wall Street guy very much. No, I'm a Wall Street guy. What was the stock?

00:07:43Game stop

00:07:45The video games to work tomorrow

00:07:49$53,000 I don't believe I think he's fucking with us. You're fucking with us, right? You don't even have to be grand. Let's see

00:07:58Oh shit

00:08:01How's your office how you fall for this he won't spend five bucks for a beer

00:08:05If you'll put 50k in a stock that you think is a joke and that's interesting to you

00:08:11Yeah

00:08:31Hey, hey

00:08:36Bedtimes already done. Yeah

00:08:40I

00:08:43Was pretty oh good. Yeah

00:08:54You guys talk about Sarah

00:09:02You want to sit down a minute I'll feel better if I finish these first

00:09:07No, you won't

00:09:10I

00:09:35Do you think I'm insane? Yeah

00:09:38I'm sorry, but what?

00:09:41Game stop, it was compelling days magic opportunity in the market

00:09:47What did Briggs you make you jump a little

00:09:50He didn't have one

00:09:52He just said it was a reckless bet. He said he put in your money nice blockbuster

00:09:57I'm not crazy, babe. You literally know more about this damn company than you know about me

00:10:01That's true. I mean I know more about this company than I know about myself

00:10:07We can't afford to miss something

00:10:10It's all our savings

00:10:13Go do a video. I

00:10:15Can finish these first?

00:10:18See what the nerds have Wall Street bets people aren't nerds Caroline. They're gangsters. You make a dumb case and post it

00:10:25They'll rip you apart. Don't make a dumb case

00:10:37Oh

00:10:56Shit

00:11:07You

00:11:09You

00:11:11You

00:11:35Yo, what up everybody roaring kitty here

00:11:38I've done a few of these now mostly on my investing methodology. But today I'm gonna try something a little different

00:11:44Well, I appreciate the feedback. You guys have been leaving me by the way

00:11:49What feedback coming in hot less cats, okay

00:11:54great

00:11:56Like I was saying

00:11:57What was I saying? I'm gonna try. Oh and here's one from balls nerd and

00:12:03Nerd is in all capitals

00:12:06Okay, that's kind of mean but okay fair

00:12:10Nice shirt grandpa. What how old do you think I am?

00:12:16You know what? Thanks for the comments. We're gonna come back to him at the end. Here's what I want to talk about

00:12:22I'm gonna pick a stock and talk about why I think it's interesting and that stock is

00:12:28Game stop. I

00:12:31Know it's a polarizing stock and some of you pregnant a tomb out of stream right now when you're on bullish on GameStop

00:12:36But I am you can see it is now the biggest position by far in the roaring kitty portfolio

00:12:42So yeah, I think everyone else is crazy and I think I'm right, but I've been wrong plenty of times in the past. Oh

00:12:50So there are a lot of aspects to this both these there's a lot of moving parts

00:12:54But I boil it down to what I consider the three overs

00:12:56The digital risks seem to me to be overblown the negative sentiment is overdone

00:13:00You can see it with the huge short interest and the value is overlooked Wall Street just doesn't see it

00:13:06Why?

00:13:08Mr. Market

00:13:10Why?

00:13:11The hedge funds are overlooking the value in the company just like they overlook the people who shop there

00:13:17They assume most people download games online now

00:13:20But look 25% of gamers still buy new discs from GameStop and

00:13:2540% buy used games from the store and the markets kind of forced my hand here. What more can I say?

00:13:30I just like the stock

00:13:45We can get you a cup of coffee

00:13:50Oh, isn't that beautiful?

00:13:52shit

00:13:55100% short GameStop stock GME

00:13:59It's an investment video. Hey Jenny

00:14:02For real, I wouldn't take investment advice from a guy in a cat shirt. Oh, okay

00:14:06Who do you take investment advice from? I don't have investments and if I did I'd listen to like a

00:14:15Banker just the way they like it

00:14:17they

00:14:20Here we go, just never mind. No, no, no, please tell me I'm dying to know what Luke Wilson from the Royal Tannin Bombs

00:14:26Thinks we should do with our sixty eight thousand dollars a year

00:14:30What ugly be you're on board? Okay, fine. Wall Street is betting that this company is gonna fail

00:14:36It's called shorting and if it fails, well, and everybody loses their job, but these hedge fund assholes make a shit ton of money

00:14:43It's bullshit. It's a bullshit way for rich people to get richer

00:14:48How do you even find this guy?

00:14:5070,000 people have watched this video. He posts his balance sheets and everything Wall Street guts is going crazy over this. Oh, it's an internet forum

00:15:00I'm ready. No. No, I'm not gonna do this with you

00:15:02The last time you brought up read it it was just all these oil paintings of Donald Trump on horseback. You liked it detestable

00:15:09Okay. Yeah, let's let's take a look

00:15:12Shit's not a pump and dump if it never dumps you fuckheads

00:15:18Feed me your tears. I use it as anal lube on your wives. Why did you go to that one? Oh

00:15:25Strap on your theta dildo and start pounding. Okay. Yes that shit exists on here

00:15:32But I also learned the difference between a Delta squeeze and a gamma squeeze and now everyone's talking about call option Jenny, baby

00:15:39You're never gonna find a man on there

00:15:42And you're never gonna date Puff Daddy. First of all, no one has said Puff Daddy since the 90s and second of all

00:15:48This isn't Puff Daddy

00:15:52Okay, well whatever daddy he's called he's weird-looking hey, well my guy has what five million tik-tok followers

00:15:59How many does yours have? Oh, no quick scroll

00:16:03412 who cares the Internet at large. Hey, at least I am I

00:16:12I

00:16:2021 and dance for the age of 21

00:16:23Flip the funds up then I cut the Chevy truck by or what she want

00:16:27And you know, she showed me love then I roll it up then I roll it up

00:16:33I hate me shame

00:16:36Fuckers wanna train me. Oh, baby

00:16:39All these bitches trying to chain me and blame me motherfuckers wanna change me

00:16:53Let's see what happens see what happens at the end of the week, but it's all about the trend staying intact

00:17:03One of Marcos yo, what's a rat?

00:17:15Yo, I was wondering if I could get an advance on my pay I

00:17:20Can run it up the chain, but with all the cutbacks, that's unlikely

00:17:25Well, hey, you could do the employee tik-tok contest you do a lip-sync you intend labor hours. Yeah, man, totally

00:17:32That's dope. I was thinking savage

00:17:36Yeah, yeah sure hello, oh yo the Drake one with a little dirt

00:17:42That's a that's a great one too because I know you love a little dark

00:17:47I'm gonna do make a stallion for sure for sure for sure. I'm a savage

00:17:51classy bougie ratchet

00:17:54sassy moody nasty

00:17:56Okay, mask mask

00:17:59I'm sorry

00:18:01Acting stupid what was hanging what was hanging? I'm a savage Wow a plus man. You're you're a shoo-in with me

00:18:08So yo, you think so for real though?

00:18:12That's sweet, bro

00:18:14Tell a virus

00:18:16Damn, it's like Christmas came early

00:18:19I'm pulling for it. Thanks, man

00:18:28I'm the hood Mona Lisa break a nigga in the pieces had the extra cheesy niggas on my circle like a pizza

00:18:34I'm way too exclusive. I don't shop. Oh, it's the booty

00:18:59I

00:19:01First cheers cheers everybody. I mean look

00:19:05I know we still got a lot of bear takes out there

00:19:07But as I dive deeper and deeper into this thing, it's looking increasingly compelling to me

00:19:10And then you got the huge short interest now. I'm not betting on a short squeeze, right?

00:19:14I've been saying that the whole time you guys have been talking about a thesis grounded the fundamentals by my but today

00:19:18I mean today, I mean, I'm just starting to feel a little squeezy, right?

00:19:23Okay, all right, all right, I need a drink I need a drink

00:19:28Now a lot of you are accusing me of talking a big game but

00:19:35Coming

00:19:58Oh

00:20:09Yay, there you go

00:20:14Sorry quick tiny break

00:20:17Hmm gotta love those tendies sweet sweet goodies

00:20:22Speaking of tendies

00:20:24Look at this. Look at this

00:20:28Go from four to six to seven now

00:20:32ten

00:20:34Wall Street must be seeing this right or are we just screaming into the void?

00:20:39Hello, mr. Market. We got tendies, too. We got tendies, too

00:20:47Maybe we are they never saw the like nine billion resumes I sent from 2016 to 2019

00:20:53Or in 2009 right after I graduated college, I guess they were busy with that old market crash thing then

00:21:23I

00:21:53Mean

00:22:05You said two shots

00:22:12Did someone start the timer just get in there, okay

00:22:23Hi, hi

00:22:28How are you

00:22:30You shut the fuck up

00:22:34So, what'd you do today?

00:22:36Well, I attended a zoom seminar

00:22:40During which I watched two hours of tick-tock. Oh

00:22:44Oh

00:22:47I am purchased three shares of stock. Okay, stop game. Stop. Oh

00:23:06I'm not sold on that. It's doubled since summer and the more people who buy in the higher go

00:23:14sounds like the literal definition of

00:23:17That's

00:23:19I

00:23:42Sorry, I have terrible allergies and a killer headache

00:23:4957 billion

00:24:02I'm telling you. This is one major. I got the guillotines. You're obsessed with the man is an asshole

00:24:08He stole five analysts from me all mediocre, by the way. Oh

00:24:13And two paintings what paintings?

00:24:19Last year

00:24:21Just admit it you're just bitter he stole those analysts you seen Citadel's projected revenue

00:24:28$7,000,000 that's a double last year

00:24:31Hoovering up all the stimulus checks they go straight from the retail traders right into Kenny boys pockets

00:24:37The man just gets away with murder. Look at what I just sent you

00:24:49Is this a video of a man drinking his own urine because a stock went up number one post on the site

00:24:54Where did you get this my analyst sent it to me?

00:24:57They call themselves

00:24:59Apes and our words

00:25:03Remarkably self-aware they've hooked into GameStop for whatever reason they think it's funny. It's I think it's funny

00:25:09I think they think it's a good investment retail traders always lose

00:25:13We've actually been short GameStop since 2014 the company is a complete disaster

00:25:17They've had six CEOs in two years

00:25:21I guess these guys are ignoring obvious secular market trends or they're

00:25:25The stupidest people on earth you're shorting more right now, aren't you?

00:25:30600,000 shares, maybe

00:25:34Happy to take it

00:25:37Happy to take it

00:25:47Listen up retards

00:25:49Melvin capital has declared war on GME by shorting the stock even more

00:25:54This is our call to activate diamond hands my fellow warriors

00:25:58We will not let the gay bears defeat us. We are on a mission to the fucking moon

00:26:03This is one that is bigger than your personal games more than just 10 days for a new Lambo

00:26:09This is our chance to rise up together to stick it to the big man

00:26:14Squeezing Melvin by the fucking balls with the collective power of diamond-handling

00:26:19Wall Street bets I thought were a bunch of idiots on money in a stock because they thought it was funny

00:26:26Now I see what Wall Street bets really is

00:26:29This is one of those rare moments

00:26:31Wall Street

00:26:35There's very little the rich can do to stop us go game stop to stop the game

00:26:44Grab your peanuts and get the fucking retard

00:26:49What up everybody Merry Christmas Happy New Year's Happy Holidays

00:26:552020

00:26:56see

00:26:582020 it's been a very rough year for my family too. So this GameStop news has been a bit of a bright spot

00:27:04Look at this. I mean where it's a it's a five bagger from where it was over the summer. You don't often see

00:27:13Theseus play out like this. So we gotta we can't take it for granted, right? We got to appreciate it

00:27:18We got to thank you Santa, right?

00:27:22I wanted to say cheers all of you. You're why I'm here in the first place

00:27:28It's fun to talk about I mean I figure if I worked at a hedge fund

00:27:33I'd compare notes with my colleagues, but I don't I'm stuck at home like you guys so

00:27:37I believe in this stock and I believe in this community

00:27:43I'll be honest. It's been kind of a shitty year

00:27:50For a lot of people a lot of people lost people the past 12 months I did too my sister Sarah

00:27:59I

00:28:05Don't talk about it much

00:28:09But it felt right to tell you

00:28:11We've been through so much together. You've made me feel a part of something something big

00:28:17So Merry Christmas

00:28:28I

00:28:54Like your car

00:28:58Classic

00:28:5995 yes, sadly, it's a gas guzzler. Yeah. Yeah this one, too

00:29:06But she's such a beauty. I couldn't stand a trader

00:29:1196 Honda Accord

00:29:132003 not quite a classic

00:29:23It's kind of weird to talk to someone and see their whole face, right

00:29:28It's been so long. I

00:29:30work at a hospital

00:29:32You could probably tell

00:29:34Essential worker. Thank you for everything you do. Oh, you're very welcome

00:29:50Hey

00:29:52Have a good night

00:29:54Cool

00:29:56Safe travels

00:30:15Remember when you were just making fun of me and now you're really obsessed. No, I don't recall

00:30:20How much are you up?

00:30:22948 it's not get the little it was like 2,000 before Christmas

00:30:27Maybe you should sell

00:30:30No

00:30:31It's not about the money. The stock market is not about the money. Oh, you just got to read some of the stuff on here

00:30:37Never understood when my dad was so pissed off about this whole thing. But now I do I

00:30:44Told you about a store, right?

00:30:46Costco

00:30:48shopko I

00:30:49was like this like

00:30:51big chain in our area

00:30:54My dad he worked his way all the way up from bag boy the general manager

00:30:59Then one of these Wall Street funds came in and bought it and vampire sucked all the money out of it and then declared bankruptcy

00:31:06book

00:31:08Yeah

00:31:11He lost his pension everything

00:31:15So I had to work at pick and fucking save until the day died and now that's why I'm up to my ass and dead

00:31:21And these fuckers are trying to do the same thing to game stuff

00:31:26Fuck

00:31:29Fuck them all

00:31:51I

00:31:54Look at this

00:31:55This guy wants to cash out me a hundred dollars to send him a selfie or 500 if I live chat him from a bubble bath

00:32:02Yes, yes, we should do it. What? Yes, we do it and then put the money in the game stop

00:32:09Who am I talking to right now bitch? Let's go get it

00:32:20I

00:32:33Don't charge commission on their trades

00:32:36How do you make money?

00:32:39the idea for Robin Hood

00:32:41Really came out of the Occupy Wall Street movement all those people with no way of getting in. Is that what Occupy was about? I

00:32:49Mean were they trying to get in there? So we said it's not enough to occupy. We need to democratize Wall Street

00:32:56I'm not sure if you know this but Bajor and I are both immigrants

00:32:58I was born in Bulgaria and Bajor's parents immigrated from India to the Deep South

00:33:03Can you imagine growing up in rural Virginia with a name like Bajor for fulcrum our bot?

00:33:10We create a commission free trading so that anyone can get in the game. You don't even need a bank account

00:33:15People have really responded

00:33:17We added five million users in the last six months for a total of close to 20 at this point million

00:33:24So you're one of these tech companies that's exploded growth-wise, but doesn't make any money

00:33:28We make money, but how if you don't charge commission from interest on people's accounts, but your users are mostly young

00:33:35So how much money can they really be keeping in there? There's also payment for order flow. What's that?

00:33:40We prefer the term a stock order routing when you buy or sell stock on our app

00:33:45We send your order to market makers who process the order they pay us a tiny rebate on every trade tiny

00:33:51But it adds up. We should really get back to how we started our come what market maker

00:33:55Do you work with a few Citadel securities mostly? I'm so Ken Griffin's firm. Isn't that a hedge fund?

00:34:00Well, Ken Griffin's hedge fund is called Citadel, but Citadel securities is a completely different company also owned by Ken Griffin

00:34:09All right

00:34:11We weren't gonna do this, but we'll give you a scoop

00:34:15Off the record for now

00:34:17Okay

00:34:19We're looking at IPO soon

00:34:23Damn okay

00:34:27It's big. Yeah

00:34:45I

00:35:15Need to concentrate

00:35:17Long haul for 40 years. I don't need to concentrate fine. I need to concentrate. What do you need to concentrate about?

00:35:25What thought they were veering over into our lane? Nobody was fearing Elaine. It's okay

00:35:34You talked to any of the girls at the clinic a few of them have called

00:35:40Hmm I miss it

00:35:43Boys never retire

00:35:45Keith never retire

00:35:48Kevin if you ever get a job never retire have a job. Yeah, you still live with mom dad

00:35:53Oh, you're some big professional now cuz you're fucking King dork on YouTube. It's one of many dorks

00:35:59Sassel thinks he's Jimmy Buffett now Warren Buffett

00:36:02Warren Buffett see you're not either of the Buffetts

00:36:06kitty

00:36:10Your balls

00:36:12Oh

00:36:19Stop it

00:36:24Door dash it's not a job

00:36:27Mass mutual it's a job a job. It's got business. Come on. That's it's a job

00:36:30Okay, I'm a first responder and second of all ma nobody uses business cards anymore

00:36:36The part of you

00:36:39Get a room

00:36:43You

00:37:00Take your time I'll be in the car

00:37:12You

00:37:43You

00:37:50It has been dragging on honestly, I don't know when we're gonna be able to start demo

00:37:54He's local ordinances are a nightmare. My heart bleeds for you having to borrow a tennis court

00:37:59Borrower a slave to the lender that Buffett. It's the Bible Proverbs

00:38:04My grandpa Melvin used to say when he was starting his convenience store. He refused to borrow $1

00:38:08It was a point of pride. Oh, yes, your humble beginnings grandpa Melvin capital now with 16 billion under management

00:38:16Better than Citadel you sound like you're preparing for war

00:38:18I'm a man of the people you rented out a resort relocated your entire firm here

00:38:23So you could stay open during lockdown says the man who flew his whole firm down private just for a party

00:38:28And anyway, what kind of company shuts down just because the government tells them to all the ones in your short portfolio and yours

00:38:35Oh except for one actually

00:38:37Which one GameStop?

00:38:40How they sell computer mouses mice and they claim it makes them an essential business

00:38:45That is the smartest dumbest thing I've ever I know it's actually a fun one. The revenues in the toilet

00:38:51632 million net loss last year. They'd be better off just burning the whole company down the stock

00:38:57It has been volatile. It's been up my backs retail traders

00:39:05Yeah, no stay up though, all right, bro

00:39:24Hey Marcos

00:39:26Yes, Bradley

00:39:29I

00:39:30Love how you engage for that customer, but we really want to close those pre-owned sales the margins more than double

00:39:35Oh shit double. Yeah, you didn't do any of the five prongs dude pre-orders reward card subscriptions use sales new sales trade-ins

00:39:42Yeah, I mean when I was a six-year-old gamer all I wanted was a reward card subscription $5 cash back monthly 20 points for every

00:39:48dollar spent

00:39:50Don't get me started a lot of really smart people in corporate put this plan together

00:39:53Yeah, but any of them ever played a video game. It doesn't matter Marcos because they own our asses

00:40:00They don't know my ass

00:40:02They do and they always will

00:40:10Hey Bradley

00:40:15You ever heard of a short squeeze

00:40:25Is that a sexual thing

00:40:28No

00:40:33Here's what's going on late last year

00:40:35Hedge funds started shorting stock in the retail store GameStop

00:40:40Meaning they had bet against it and needed it to drop in price for their investments to be successful now

00:40:46Unfortunately for the hedge funds small investors started buying the stock led by something called Wall Street bets a popular

00:40:54Juvenile foul-mouthed reddit page and when Wall Street bets noticed that hedge funds had taken a large short position in GameStop stock

00:41:03They decided to punish the Wall Street big boys and launched a coordinated buying spree

00:41:08The revolutionaries on reddit are spanking Wall Street's ass GameStop shares absolutely going nuts

00:41:14I think it was up over 70% at one point

00:41:18massive short squeeze

00:41:19Closing there with a gain of 51% after traders on message board

00:41:24AHHHHHHHHH

00:41:28What?

00:41:29Happy Wednesday

00:41:31Happy humpday

00:41:33Cheese

00:41:34Look at this shit

00:41:35A ninety percent increase in one day in one fucking day

00:41:39We're going to the moon

00:41:42What

00:41:45Okay, now if you've been watching this price section

00:41:48This is what I'm talking about

00:41:49You could really feel that panic from Wall Street right when they started to feel a little squeeze

00:41:52You're starting to really feel a little squeeze.

00:41:55Oh, I need a drink.

00:41:56I need a drink.

00:41:57I know we all drink in the night.

00:41:58We fucking did it.

00:42:00We started from the bottom and now we're here.

00:42:04Let's raise a glass.

00:42:06To a great company that's undervalued.

00:42:09Cheers.

00:42:10Soon may the 10 of me come.

00:42:11Show me the 10 of me.

00:42:12Show me the 10 of these.

00:42:14I got them right here.

00:42:15Show me the 10 of these.

00:42:16I just gotta, I just gotta.

00:42:19I just gotta do it.

00:42:23Oh.

00:42:2911 fucking million dollars.

00:42:31What the fuck?

00:42:32Oh, language.

00:42:33The baby's here.

00:42:34What are you gonna do?

00:42:35Get a Ferrari?

00:42:36A Lambo?

00:42:37Caroline, you're gonna ask for a big diamond, right?

00:42:39I have a diamond.

00:42:40Keith, you get a fucking diamond.

00:42:41If I were you, I'd look like DJ Khaled right now.

00:42:43Kev, it's not real.

00:42:45I mean, it's real, but it's just paper.

00:42:47Just on paper?

00:42:48You're gonna sell, right?

00:42:50No.

00:42:51I mean, I don't know.

00:42:55We haven't talked about it.

00:42:56What the fuck is wrong with you?

00:42:58I'm riding mom's bike every day to Dorchester

00:43:00to drop off cheeseburgers,

00:43:01because you won't let me use your fucking car

00:43:02and you're Mr. Oh, I won't sell and take millions of dollars.

00:43:05Hey, well, what you do with your life is your choice.

00:43:07You think I wanted to get laid off from Dick's

00:43:08during a global pandemic?

00:43:10I love those sneakers, man.

00:43:11I love that store.

00:43:12I love Dick's.

00:43:13Mom's bike don't even have keys.

00:43:14We don't even know if it's reached the top.

00:43:16The stock, I don't know, jumped like 23% yesterday,

00:43:19double from Friday's close.

00:43:20But he's right.

00:43:21I mean, $11 million is a lot of fucking dough.

00:43:23Thank you.

00:43:24Okay, yes, but since Ryan Cohen joined the board,

00:43:28this fucking guy got a two billion market cap.

00:43:30I mean, yeah, but that's not what I'm seeing.

00:43:33That's not what I'm seeing, Kev.

00:43:35Kev, you there?

00:43:40Hey, hang on.

00:43:42Yeah.

00:43:44Ugh.

00:43:50Fuck, I think cold.

00:43:55Girl, you gotta sell.

00:43:56I'm not selling.

00:43:58How much are you up?

00:43:59$15,000 and some change.

00:44:01Hey, hey, baby girl, what the fuck?

00:44:06You need to get up while you can.

00:44:08Don't be an idiot.

00:44:09You remember Redhead back up?

00:44:11He's worth $11 million and he's not selling.

00:44:14No fucking way.

00:44:15Yes, he is.

00:44:16He is.

00:44:17And he's not selling.

00:44:18No fucking way.

00:44:19Yes, fucking way.

00:44:20This is what I'm telling you.

00:44:21Diamond hands.

00:44:23Diamond hands.

00:44:25You hold the line no matter what the market does,

00:44:27no matter what Wall Street says.

00:44:29What happens when everyone else sells first

00:44:31and before you get out, you've lost all your money.

00:44:34Are there any volunteers?

00:44:37We're gonna hold the line.

00:44:38Come on.

00:44:39Someone has to go first.

00:44:40Okay, yeah, I'll do it.

00:44:47Here we go, everyone.

00:44:48The first COVID vaccine at Pittsburgh Presbyterian.

00:44:51Ah, fuck, fuck, fuck.

00:44:55Guys, we need your help.

00:44:57What should we do?

00:44:59So listen, my girl bought in under 20

00:45:01and now it is over 60.

00:45:04So like, should she sell?

00:45:06On the one hand, she has principles.

00:45:09On the other, she has 100K in student debts.

00:45:12One way that you can think about the comparison

00:45:14between Marxism and utilitarian tradition

00:45:17is that they both have a micro story and a macro story.

00:45:21When you think of utilitarian tradition-

00:45:23The only thing that would convince her to sell

00:45:26is if Roaring Kitty sold.

00:45:29So, where my pussy at?

00:45:32You have to have a micro story, a phrase,

00:45:35or have just individual actions to go with it.

00:45:39Where my pussy at?

00:45:40Where my pussy at?

00:45:42Where my pussy at?

00:45:43Where my pussy at?

00:45:47I'm so sorry.

00:45:49Hey, hey, where my pussy at?

00:45:52Where is my pussy at?

00:45:54It's not in here.

00:46:14Whoa.

00:46:16Wait, listen, hold on.

00:46:19Future generations will look back

00:46:21and say good men stood here.

00:46:23Good men fought and died on this ground

00:46:25as they point to a trade and view daily chart

00:46:27of GME zoomed in on January.

00:46:31Since the spawn of the stonk market,

00:46:32two classes of people have been pitted against each other.

00:46:35Eternal enemies forever forced and baited to combat.

00:46:38Lions and hyenas.

00:46:40These lions, they're not lions.

00:46:42These lions, these Wall Street hedge funds have it all.

00:46:46Billions of dollars, bailouts, reckless trades,

00:46:49these dirty fucking criminal bastards.

00:46:52Yeah, these fucking motherfuckers.

00:46:57And then there's us, the working men, the average Joe.

00:47:02What do we have?

00:47:03What the fuck do we have?

00:47:06They literally call us dumb money.

00:47:08These lions, these hedge fund guys

00:47:10are the ones with silver spoons in their mouths.

00:47:12The top 1% of the 1%.

00:47:14They have massive bank accounts,

00:47:15eat medium rare grade A Wagyu steak.

00:47:18What the fuck is that?

00:47:19That sounds delicious.

00:47:20With truffle shavings for lunch?

00:47:21Fuck.

00:47:22They frequent the finest strip clubs.

00:47:24They have blowin' escorts on their yacht parties.

00:47:26Why do we hate these guys?

00:47:28Then you know what they will tell these escorts.

00:47:30What's an escort?

00:47:31Stop listening.

00:47:32When the smoke and hop blonde asks them,

00:47:34like how do you have so much money?

00:47:38You know what they say?

00:47:38Dumb money, babe.

00:47:40Dumb money.

00:47:43Something is burning.

00:47:46Oh, damn it.

00:47:48Shit.

00:47:49You said shit.

00:47:59Lads, the GME trade is about class warfare.

00:48:02Playing it simple.

00:48:04We may be hyenas, yes.

00:48:06But guess what?

00:48:07We put enough of us together.

00:48:09We can destroy a lion.

00:48:11It's on, motherfuckers.

00:48:17Oh, we coming for y'all.

00:48:19Y'all better get ready.

00:48:20We fucking coming for you.

00:48:22That is some nerdy shit, man.

00:48:25My brother is a fucking nerd.

00:48:34Fuck!

00:48:37Fuck!

00:48:44Counting down from five

00:48:45and then I'm coming back in there

00:48:46and I don't think you want that.

00:48:50Five, four.

00:48:52Three, two.

00:48:56Thank you.

00:48:57How was your day?

00:48:58Long.

00:48:59It's so hard to keep them focused on Zoom school.

00:49:02They're just not into it.

00:49:05How was your day?

00:49:06Good.

00:49:10You're not worried about the short squeeze thing?

00:49:12The down will break next week.

00:49:14A few of them will decide it's gone high enough.

00:49:16They'll cash out.

00:49:17The rest will follow.

00:49:18Hopefully we'll come crashing down.

00:49:20I kept thinking the last short squeeze

00:49:22that actually worked.

00:49:24Acmin and Herbalife.

00:49:26Before that, Piggly Wiggly.

00:49:28Piggly Wiggly.

00:49:29Yeah, 1923, a bear cartel

00:49:31was shorting the Piggly Wiggly grocery store.

00:49:34Found her.

00:49:35He takes out a loan for what would be

00:49:37$150 million today.

00:49:39He buys back almost all the stock,

00:49:40like 99% of the stock.

00:49:41The price of the stock goes up 50%.

00:49:44How much does GameStop owe?

00:49:45Then, the exchange, they halt trading on the stock

00:49:48so the short sellers can cover their positions.

00:49:51Is that legal?

00:49:53The founder had to declare bankruptcy,

00:49:54so it was all fine in the end.

00:49:58And you knew all that or you looked it up?

00:50:01Every fund manager knows that story.

00:50:06You looked it up.

00:50:09Double check some numbers, maybe.

00:50:21Oh, you see what's going on at GME?

00:50:24There's more of these idiots?

00:50:25A lot more.

00:50:26They won't hold much longer.

00:50:27Okay, honey, they're holding.

00:50:30It just crossed 100.

00:50:31It just crossed 100.

00:50:35Gabe?

00:50:37Where are you?

00:50:43You should probably dial in.

00:50:45Yeah, be on in one second.

00:50:46GameStop, extraordinary volatility today.

00:50:49You know, we might wanna make this the stock of the day

00:50:52now that it's gaining 103%.

00:50:54That is volatility.

00:50:55I will tell you, I've never seen anything like it.

00:50:58I'm concerned about it deeply.

00:51:00I'm calling it the ultimate short squeeze.

00:51:02How much money is being made?

00:51:03Holy fucking shit.

00:51:05GameStop, no shares, not stocks.

00:51:07Holy fucking shit.

00:51:09130% today is bullish retail traders.

00:51:12Holy fucking shit.

00:51:13Yo, what is this?

00:51:15Shitballs.

00:51:16Holy shit.

00:51:17If you look at the chart for the month,

00:51:18it's up 220%.

00:51:21Oh, there, yeah.

00:51:23It's crazy.

00:51:24Holy fucking shit.

00:51:25Holy fucking shit.

00:51:26The fact that if you go short

00:51:27in some of these elaborate options trades,

00:51:30you can lose money to infinity.

00:51:32GameStop now 123 and change, another record high.

00:51:36Holy fucking shit.

00:51:37It's completely disconnected from the fundamentals

00:51:39and this is very much being driven by retail investors,

00:51:42many of them trading on Robinhood.

00:51:44When the music stops,

00:51:45somebody is gonna be left without a seat.

00:51:46This is for casino money.

00:51:48We're literally putting the game in GameStop.

00:51:50GameStop is the craziest I think I've ever seen.

00:51:53True investors never heard of Reddit a few years ago,

00:51:56but for that to drive a short-

00:51:58It is wall speed bets.

00:51:59It's worth going to the site

00:52:01because it's incredibly compelling.

00:52:03You may think it's fraught,

00:52:04but they're using arguments

00:52:06that they think are holed up under scrutiny.

00:52:08I just like the stock.

00:52:09I can't look.

00:52:10I can't look.

00:52:11I can't look.

00:52:12It's up another 4%.

00:52:12I'm gonna have a fucking heart attack.

00:52:14Should we sell?

00:52:14And betray your boyfriend?

00:52:15Absolutely not.

00:52:16No.

00:52:17Maybe.

00:52:18Well, how much they are being very specific

00:52:21to break the shorts.

00:52:22I mean, what's going on at GameStop right now

00:52:24conceivably could take a couple of firms out.

00:52:27If they were stupid enough to be short.

00:52:29Babe, how much did we make today?

00:52:32Five million.

00:52:34And yesterday?

00:52:35Four million.

00:52:39Babe.

00:52:40Yeah.

00:52:43We're like really fucking rich.

00:52:52How much did we lose today?

00:52:56A billion.

00:53:00And yesterday?

00:53:02A billion.

00:53:07Ugh.

00:53:08The news to bring you right now

00:53:09is that Melvin Capital Management,

00:53:11this is the hedge fund that had shorted this company

00:53:15that had effectively been attacked

00:53:17by an army of investors trying to push up

00:53:21and press up the stock of GameStop.

00:53:24They've taken a rather huge loss.

00:53:26Sorry, if you could just put your head up for a sec.

00:53:30Thanks.

00:53:31How long you been down here?

00:53:33A few months.

00:53:35You like the weather?

00:53:39Heat is nice.

00:53:40Humidity, not as much.

00:53:43I can see that.

00:53:45All right.

00:53:46I think you're good to go.

00:53:55Oh.

00:54:13Hey.

00:54:14Hey, man.

00:54:15Hi.

00:54:16It's good to connect.

00:54:17You too, great to be here, excited.

00:54:18I'm glad you are.

00:54:19Listen, I wanna get right to it.

00:54:21From what I'm hearing, you guys are bankrupt.

00:54:26No, what? Oh.

00:54:27Because the word on the street is that you're drowning.

00:54:30No, that's crazy. We're doing great.

00:54:33You're on the record with that?

00:54:35Obviously.

00:54:36All right, man, well then, we're going to get the live feed up right now,

00:54:39and then we're going to get to you right after this next advertising break.

00:54:42Perfect, great. Yes, can't wait.

00:54:45All right, one more spot, and then you're going to be up.

00:54:48I really do think this is the right time for you to communicate.

00:54:51Great, yes. Agreed.

00:54:53Address it all head-on. It's going to be good.

00:54:58No.

00:54:59Look, Gabe, we're on in ten seconds.

00:55:01I can't do this. I'm sorry.

00:55:02Gabe, seriously.

00:55:03Bye. I'm terribly sorry.

00:55:04Seriously, come on.

00:55:05We're going on right now.

00:55:15Hey.

00:55:17What's the damage?

00:55:45Let me guess. You need cash.

00:55:47You didn't call Ken first, did you?

00:55:49He had Phillips reach out.

00:55:51How much did he offer?

00:55:54I haven't called him back yet.

00:55:56Well, how much do you need?

00:55:57You know what? Don't answer that. The number doesn't matter.

00:55:59Whatever it is, I'd love to buy in.

00:56:01Tell Ken to fill in the rest.

00:56:03Prick.

00:56:05Hey, Ken.

00:56:06Hey.

00:56:07Hi.

00:56:08Um, so I might need, uh, a new investor.

00:56:14Consider it done.

00:56:15Just keep moving forward.

00:56:17Don't think about what Grandpa Melvin used to say.

00:56:20Prick.

00:56:23Thank you.

00:56:24Oh, sit it out, man.

00:56:25I'm sorry.

00:56:26I'm sorry.

00:56:27I'm sorry.

00:56:28I'm sorry.

00:56:29I'm sorry.

00:56:30I'm sorry.

00:56:31I'm sorry.

00:56:32I'm sorry.

00:56:33Poor guy.

00:56:35Another goddamn bailout.

00:56:38Can you believe this crap?

00:56:40Nobody bailed me out when Richard left me alone with 2 toddlers, a mortgage, a shit car that never worked.

00:56:47We can't just say shit, but we can.

00:56:49It's just so damn unfair.

00:56:50And you know it.

00:56:51All we've done for the last year is work our asses off helping people.

00:56:54And all we've gotten is one $600 check.

00:56:57is work our asses off helping people,

00:56:59and all we've gotten is one $600 check.

00:57:02This idiot Fs up just about as bad as anyone can F,

00:57:05and his friends come running in with $3 billion.

00:57:08That's why I keep telling you, you're never gonna win.

00:57:11Just take the money and do something nice.

00:57:12Pay off your mortgage, get that one braces.

00:57:15Look who's still holding.

00:57:17Oh.

00:57:18If he's in, I'm in.

00:57:20Yeah, he's still gonna need braces.

00:57:22Your teeth are perfect.

00:57:23So what, the stock's up $150?

00:57:25How much higher is it gonna go?

00:57:27We control the price now, not Wall Street,

00:57:29and no one on there is selling.

00:57:30Shoes?

00:57:31You're all so delusional.

00:57:33Maybe, but look at what we've managed to do

00:57:35with these hedge funds.

00:57:36If we keep driving up the price,

00:57:38maybe we'll scare more of these guys

00:57:40into closing out their shorts,

00:57:41and then all of that bailout money becomes ours.

00:57:44Wait, your screen name is Stonk Mom?

00:57:52Help your mother.

00:57:53Why me and not Keith?

00:57:54Just shut up and do it, okay?

00:57:56You have to take the potato.

00:57:57You're all rich now?

00:57:58Just a $23 million on paper, but I won't sell?

00:58:00Kevin!

00:58:01Loser says what?

00:58:03What?

00:58:04Kevin, let Keith do it.

00:58:09Tell us what.

00:58:11Oh, I was waiting to tell you in person,

00:58:14but the stock we bet on, GameStop, is up.

00:58:18Good.

00:58:20How much up?

00:58:20He's up $23 million, Pop.

00:58:23You're an asshole.

00:58:24Don't kid us.

00:58:26It's real.

00:58:26Yeah, it's real, and he's refusing to sell.

00:58:31What is going on?

00:58:33You're pulling our leg.

00:58:34No, your son's a huge internet celebrity now.

00:58:36Millions of people, including Stonk Mom,

00:58:38thinks he's some, I don't know, investment genius.

00:58:40No, he is a genius.

00:58:41No, he's not.

00:58:42You're up $23 million, and you're not selling.

00:58:48Jesus, Mary and Joseph.

00:58:50What the fuck is wrong with you?

00:58:51Do you even know how much $23 million is,

00:58:53and you're just gonna let it ride?

00:58:54What's the matter with you?

00:58:55I know what I'm doing.

00:58:56But why aren't you selling?

00:58:58What, wait, is this illegal?

00:58:59Are you in trouble?

00:59:00No, no, he's not in trouble.

00:59:01It's totally legal.

00:59:02He's posting his balance sheet on the internet.

00:59:03Hedge fund managers, they go on CNBC all the time

00:59:06to pump up the stock.

00:59:07All I do is post my balance sheet

00:59:09on Wall Street Bets after market close.

00:59:11You post your balance sheet?

00:59:13Yeah, the same idiot who left a fresh pair of Nikes

00:59:15out in the bleachers for just anyone to take.

00:59:17So you admit they were stolen.

00:59:18I admit you're a fucking moron.

00:59:19At least I won the race.

00:59:20What's the point of winning the race

00:59:21if you let some dipshit steal the prize?

00:59:23You would've broke a fork if you had the Zoom system.

00:59:25Maybe we should get in touch with Briggsy, you know?

00:59:27He works in finance.

00:59:29You think Briggsy knows more about this than Keith does?

00:59:32Well, can you talk about why you're putting your stocks

00:59:34in the Wall Street Journal?

00:59:35Wall Street Bets.

00:59:36What if somebody tries to rob you?

00:59:37Kidnap the baby?

00:59:38No one's gonna kidnap the baby.

00:59:39Nobody wants that baby.

00:59:40I'm just saying that if we're gonna talk to somebody,

00:59:42you need to talk to Briggsy.

00:59:43Yes, honey.

00:59:44This is the point I'm making.

00:59:45Enough!

00:59:46You guys, Keith has literally poured his heart

00:59:49and his soul into this for the past year.

00:59:50He knows what he's doing.

00:59:55You know it's been a tough time, right?

01:00:05You should still sell.

01:00:09I think you should sell.

01:00:12Now, eukaryotic cells.

01:00:14I just fucked the principle of the whole thing.

01:00:16I don't like it any more than you do.

01:00:18Are cells that have a lot of organelles.

01:00:22Or tiny little factories.

01:00:24For instance, the nucleus, the mitochondria.

01:00:28Now, eukaryotic cells are typically-

01:00:31You really don't think that he's fucking selling?

01:00:32No.

01:00:34Ladies?

01:00:36Masks?

01:00:40Kids are with their father for a few days,

01:00:42so I'm going to Florida.

01:00:44You finally fucking sold.

01:00:45How the fuck did I lose you?

01:00:47I don't know.

01:00:48I don't know.

01:00:49I don't know.

01:00:50You finally sold.

01:00:51How the fuck did I lose you?

01:00:52No, I'm putting it on my visa.

01:00:54You're shitting me.

01:00:55You're worth hundreds of thousands of dollars in stock

01:00:57and you're a massive credit card debt.

01:00:59You really are out of your mind.

01:01:01No, babe.

01:01:01I am all in.

01:01:03Diamond hand.

01:01:05Did you know that Gabe Plotkin gave an interview

01:01:07where he's been getting death threats

01:01:08and anti-Semitic messages from these WSB guys?

01:01:11He has 10 comments.

01:01:12There's only sad apples.

01:01:13And the moderator's deleted it right away.

01:01:14You're just going to ride this thing until zero?

01:01:16No.

01:01:17I'm buying call options.

01:01:19They could go to 600 by tomorrow.

01:01:21The kid has never been a racist.

01:01:30There's eight million people in there and they all hold it.

01:01:33It's only going to go up.

01:01:38Pops.

01:01:42Look.

01:01:43This is real.

01:01:46Oh, man.

01:01:47Eight million people is real.

01:01:49H-O-D-L.

01:01:55It's a joke.

01:01:56Un chiste sin gracia.

01:01:57It's not funny.

01:02:02Mom.

01:02:04Look.

01:02:06You're at $175,000 in stock right now.

01:02:08Okay, kid.

01:02:09Like serious money.

01:02:10Like I can get you a house

01:02:11and get you up out of here kind of money.

01:02:13Nene.

01:02:18Uh-huh.

01:02:19I bought call options for cheap.

01:02:22And they hit.

01:02:24So now you're going to sell?

01:02:25No, no.

01:02:26I'm going to buy more.

01:02:29When they hit, I'm going to buy you a mansion.

01:02:31It's going to be crazy.

01:02:48We have some breaking news right now

01:02:50on what has turned into the soap opera

01:02:53and saga of the markets right now.

01:02:55And that is the story of GameStop.

01:02:57A month ago today,

01:02:58it was trading at about 20 bucks per share.

01:03:00Two days ago, it was under $80.

01:03:02Today, nearly $350 a share.

01:03:05The GameStop stock frenzy

01:03:07even now has the attention of the White House.

01:03:09Our economic team,

01:03:10including Secretary Yellen and others,

01:03:12are monitoring the situation.

01:03:13You're witnessing the rise of the stock market.

01:03:16You're witnessing the French Revolution of Finance.

01:03:18There's a rebellion aspect to it.

01:03:20There's an anti-establishment aspect to it.

01:03:22I don't know if Wall Street's ever seen it like this.

01:03:24Nope.

01:03:25We never have.

01:03:26It's generational.

01:03:26And like a generational injustices.

01:03:28This is like battle.

01:03:29Poor guys versus rich guys.

01:03:31And poor guys are winning right now.

01:03:34Fucking hold.

01:03:35If you're new here and you're trying to make a profit,

01:03:37fuck off.

01:03:38Stop what you're doing and listen up.

01:03:38I own GameStop on Robinhood and I am not selling.

01:03:41Hold.

01:03:42All you need to do is hold.

01:03:43Keep fucking holding.

01:03:45Soon the Tindy man comes and sends our rockets to the sun.

01:03:48See this right here is the human being

01:03:50who's largely responsible for all this GameStop stuff.

01:03:53Just a pure specimen.

01:03:56A godlike undefeatable creature.

01:04:00This is what excellence looks like.

01:04:03I just let it stop.

01:04:04Yesterday he posted this

01:04:06and he's in profit.

01:04:07Wait for it.

01:04:0947 million.

01:04:1047 million.

01:04:13What the fuck is happening?

01:04:16Motherfucker!

01:04:19Hey, did you try to open a browser?

01:04:24Bro, what the fuck?

01:04:25What the fuck?

01:04:26I called you didn't you?

01:04:29What the fuck is going on?

01:04:32I can't get it to load.

01:04:40Fuck.

01:04:45What?

01:04:49They shut down Wall Street bets.

01:04:51What?

01:04:52Hateful and discriminatory content.

01:04:55And that stuff has always been on there.

01:05:02That's weird.

01:05:03No?

01:05:05It's like they're trying to stop people

01:05:07from talking to each other.

01:05:11Hello?

01:05:16Babe, are you gonna get that?

01:05:17Yes.

01:05:21Hello?

01:05:23Uh, yes.

01:05:25I am, uh,

01:05:27I have a Roaring Kitty and I think value.

01:05:33No, but, but I'm gonna be impressed.

01:05:38Oh, okay.

01:05:39Sir, I just want to say how grateful I am for this job

01:05:42and how much it means to me and my family

01:05:43and I would never let a hobby turn to this.

01:05:49I understand.

01:05:56Yeah?

01:05:57There's a mass mutual there.

01:05:58Getting calls from reporters concerned

01:06:00about my outside activities.

01:06:02Was all this against the rules?

01:06:04I wasn't.

01:06:05Maybe now it is.

01:06:06Okay.

01:06:10Well, what was that call?

01:06:13Keith.

01:06:14It's okay.

01:06:15What, are you gonna lose your job?

01:06:16It's fine.

01:06:18They gave me a choice.

01:06:19Between what?

01:06:20Between your job and Roaring Kitty?

01:06:22Uh, resign or I'm fired.

01:06:25That's what he just said?

01:06:28I got it.

01:06:31Fuck it, Wall Street Bets is down

01:06:32and I can't see Roaring Kitty's balance sheet.

01:06:34I don't know what to do.

01:06:36This could be the sell off.

01:06:37I really don't want to do that.

01:06:39Well, me neither, but you can't let it go to zero.

01:06:43It's 150 grand, you need that money.

01:06:45And nobody's gonna hold it

01:06:46if they can't see what he's doing.

01:06:50Close your eyes on the count of three.

01:06:53One.

01:06:55Two.

01:06:58Three.

01:06:59Three.

01:07:00Three.

01:07:01Three.

01:07:02Three.

01:07:03Three.

01:07:04Three.

01:07:05Three.

01:07:06Three.

01:07:07Three.

01:07:08Three.

01:07:09Robin Hood, yeah, it's an app, it's on the phone.

01:07:14Yeah, no, your phone is ringing.

01:07:16Oh, yes, yes.

01:07:23Slow down, Norm, what did you say?

01:07:25The NSCC just sent us a file.

01:07:28They want a deposit of three billion

01:07:30to clear all the trades coming in.

01:07:32Sorry.

01:07:33Wait, who?

01:07:34They're a subsidiary of the DTCC

01:07:37and they're requesting three billion.

01:07:42Sorry, it's a little loud in here.

01:07:43I thought you just said three billion.

01:07:45I did.

01:07:48We don't have three billion, Norm.

01:07:49That's correct.

01:07:51We've only ever raised two billion

01:07:52in the history of the company.

01:07:54Holy fuck, what if we don't pay?

01:07:56They shut us down.

01:07:59The IPO?

01:08:00Like everything.

01:08:02Proof.

01:08:02I reckon Dan and I are going to jump on a call

01:08:04with Citadel at nine.

01:08:08Maybe this would be a good time

01:08:09for me to chat with Ken Griffin.

01:08:11Sure, we'll mention that.

01:08:15I can't sleep.

01:08:17Me neither.

01:08:18I just feel sick.

01:08:20We'll buy it back first thing.

01:08:24Please shut up.

01:08:38What the fuck?

01:08:42What the fuck?

01:08:44What the fuck?

01:08:45Okay, let me try.

01:08:47Is it frozen?

01:08:54They cut off the buy option.

01:08:56What?

01:08:57That's fucking criminal.

01:08:58I can't hear you, Beiju.

01:08:59What the fuck did you do?

01:09:01Calm down.

01:09:01Me calm down?

01:09:02You shut down trading on GameStop.

01:09:04I'm not buying it.

01:09:05I'm not buying it.

01:09:06You shut down trading on GameStop.

01:09:07Not all trading.

01:09:08Norm worked it out.

01:09:10The DTCC agreed to lower the deposit to 700 million

01:09:13if we shut off buying, and that's what I did.

01:09:15The Depository Trade Commission?

01:09:17They're like one degree away from Dan Griffin.

01:09:20One more time, Beiju.

01:09:22What for?

01:09:25What?

01:09:26It's not going to be okay.

01:09:27You need to fix this.

01:09:31I did fix it, Beiju.

01:09:32We've been watching shares of GameStop all day long

01:09:35after hitting a staggering high of $483.

01:09:39Their shares are now down to about 140.

01:09:42Now the best we can tell is the Robinhood app,

01:09:45that seems to have triggered what really has become

01:09:47a panic sell-off in this name.

01:09:49So if you're a retail investor or a Reddit user

01:09:53and you've held, well you are feeling

01:09:55some serious pain right now.

01:10:03Now the criticism centered on Robinhood

01:10:05for abandoning their followers here

01:10:07in favor of helping those who have shorted

01:10:09all these stocks in the first place.

01:10:11I don't particularly like the move on Robinhood today.

01:10:13I'm talking to people this morning that say,

01:10:15okay, that is anti-capitalism.

01:10:17You can't do that.

01:10:19There's been some controversy about Citadel

01:10:21and some vague accusations that somehow Citadel

01:10:24may have been involved in Robinhood's decision

01:10:26will to stop or restrict trading in GameStop

01:10:29and other shorts.

01:10:30Who is that from?

01:10:32Tendy man.

01:10:35Come back inside.

01:10:36Diamond fucking man.

01:10:40We all know how I feel about him.

01:10:42I think he's a rat in a wire.

01:10:44Okay, Vlad, you know everybody here

01:10:47is watching this hates your guts, right?

01:10:50Thank you, Dave.

01:10:51That's what I hear, but I'm a really big fan of your show

01:10:56and hopefully I can answer some of your questions.

01:10:58Vlad, can you hear us?

01:11:00Vlad, the stock importer.

01:11:00Yes, I'm here.

01:11:02Hi.

01:11:03Spill the beans, man.

01:11:04What happened last week?

01:11:05Why can't people buy the GameStop shares?

01:11:08The people demand an answer.

01:11:09To give you some background,

01:11:11I'm chief executive of Robinhood.

01:11:13Robinhood.

01:11:14And I just want to say we had no liquidity problems.

01:11:18Did something maybe shady go down here?

01:11:19It seems weird that you'd get

01:11:20a sudden $10 billion demand.

01:11:22Three, three billion.

01:11:23Okay, three billion just suddenly out of nowhere.

01:11:26Well, I wouldn't impute any shadiness to any of this.

01:11:31I don't have the full context as to what was going on

01:11:33with the NSCC to make these calculations.

01:11:38To what degree are you beholden to Citadel?

01:11:40I mean, like basically if Citadel's unhappy,

01:11:42then what happens?

01:11:44Is anyone holding you hostage right now?

01:11:47It's just no rational explanation

01:11:50on why they would do what they did

01:11:51without outside pressure, interference,

01:11:54and they basically cratered the stock on purpose.

01:11:57So I just don't believe anything that guy says.

01:12:01I want to take a cold shower after seeing this.

01:12:02Robinhood is facing lawsuits.

01:12:04We know that.

01:12:05After halting trades,

01:12:06they are accused of rigging the markets.

01:12:08When the big guys,

01:12:09including one of your main investors in your company,

01:12:12started to lose,

01:12:13you shut down the game to starve the little guys.

01:12:15They're stealing from the poor.

01:12:17They're giving back to the rich.

01:12:18They're robbing from the hood.

01:12:21What?

01:12:22I want to be 100% clear.

01:12:23All you guys deserve to go burn in hell.

01:12:25This decision to restrict trading

01:12:27was not made on the direction of Citadel

01:12:30or any market maker.

01:12:30Fuck you and your mama dupes,

01:12:32you motherfuckers, Rob.

01:12:33Fuck this guy.

01:12:34This guy is just an obfuscating piece of shit.

01:12:37Fucker.

01:12:38There's only one man I want to hear from right now.

01:12:41And Wall Street bets is down,

01:12:42so it's crickets.

01:12:44It's crickets out here.

01:12:46Say it with me.

01:12:47Where my pussy at?

01:12:49Kill, kill, kill, kill, kill, kill, kill, kill, kill, kill.

01:12:52Kill, kill, kill, kill, kill, kill, kill, kill, kill, kill.

01:12:55Kill, kill, kill, kill, kill, kill, kill, kill, kill, kill.

01:12:57Please, please.

01:12:58I'm sorry, this is, like, my house.

01:13:01You want my autograph?

01:13:02Yeah.

01:13:04You've been served.

01:13:07Are you gonna sell?

01:13:08Hey, to the moon, baby.

01:13:10To the moon.

01:13:17Sorry to interrupt.

01:13:18We need to talk about the GameStop situation.

01:13:20I thought McCain was handling it.

01:13:22So did we,

01:13:22but the committee specifically requested you, sir.

01:13:25If they want specifics, they can have McCain.

01:13:27It's not a choice, unfortunately.

01:13:34Shitballs.

01:13:38Keith.

01:13:40A congressional subpoena.

01:13:41I never did anything illegal,

01:13:43and I always had disclaimers.

01:13:45Why would you have disclaimers if you weren't worried?

01:13:48They're standard practice, Caroline.

01:13:50Everyone has them.

01:13:56Babe.

01:13:58The answer is not in your computer.

01:14:01There's a dozen reporters on our lawn.

01:14:02You have to testify before Congress.

01:14:05The game has changed.

01:14:06I know.

01:14:07I hear you.

01:14:08I don't think you do.

01:14:16Oh my God, we're,

01:14:18we're gonna go to my mother's.

01:14:20No, she has terrible Wi-Fi.

01:14:22I'm not talking about you.

01:14:23I'm talking about me and her.

01:14:25You need to figure this out.

01:14:41Where are you going?

01:14:42The track.

01:14:43You were just on the track.

01:14:44I'm going again.

01:14:56Hi.

01:14:57Can I interest you in some champagne or a mimosa?

01:14:59Is it free?

01:15:00It is when you set up here.

01:15:01I don't have the last time for everything.

01:15:03Oh, you'll be back.

01:15:06I had half a million in stocks last week,

01:15:08but Wall Street cheated.

01:15:10Surprise, surprise.

01:15:13I could have cashed out.

01:15:15I could have paid my mortgage.

01:15:17Could have bought my kid braces,

01:15:19got a new car.

01:15:20Honey, I'm gonna get you something stronger.

01:15:21Thank you.

01:15:22You're welcome.

01:15:26Meow, kitty.

01:15:27You know, you can't just eat other people's food.

01:15:29They do reviews, right?

01:15:30Very funny.

01:15:31Here.

01:15:33What's this?

01:15:34Look, they were on sale, all right,

01:15:35before you get all emotional.

01:15:36Holy shit, you fucking softy.

01:15:38Who put you up to this?

01:15:39Carol, mom?

01:15:41No, dad.

01:15:42Called me in tears, said my big brother

01:15:43needed some moral support.

01:15:44Ha ha, fuck off.

01:15:46Come on, man, will you at least try them on, please?

01:15:49Try them.

01:15:50Come on, you're the richest man in the world.

01:15:51You're the richest man in the world.

01:15:52You're the richest man in the world.

01:15:53You're the richest man in the world.

01:15:54You're the richest man in the world.

01:15:55Come on, you're the richest man in Brockton.

01:15:56You dress like an asshole.

01:15:57I lost 15 million yesterday

01:15:58and another 15 the day before that.

01:16:00You're still the richest man in Brockton, like by far.

01:16:03Bro, you got rich dudes pissing in their pants right now.

01:16:07I mean, come on, man.

01:16:08How many people in Brockton, how I could say that?

01:16:10This has gone crazy.

01:16:11I got reporters hounding me outside my house.

01:16:14Yeah, man, me too.

01:16:15They're coming after you.

01:16:18You didn't talk to them, did you?

01:16:19What do I look like?

01:16:20I said no.

01:16:22I said give me 50 grand, maybe.

01:16:23Tell me you're kidding.

01:16:25Well, if you give me 20,

01:16:25then maybe we won't have to deal with this shit.

01:16:26What the fuck is wrong with you?

01:16:28Kevin, I've just been subpoenaed by Congress, man.

01:16:31I do not have time for your bullshit.

01:16:33Oh, come off it, man.

01:16:34Seriously, asshole.

01:16:35Chill.

01:16:36Fuck, it was a joke.

01:16:45I know.

01:16:47Sorry.

01:16:55We never used to fight this much.

01:17:00I'm sorry.

01:17:01I miss her.

01:17:02Me too.

01:17:04Kept your ego in check.

01:17:06The whole fucking world kept my ego in check.

01:17:09What the fuck are you gonna tell Congress, Keith, huh?

01:17:13Beg him not to send me to prison.

01:17:17Hey.

01:17:19Do you remember back at Stonehill

01:17:21when they dared me to run that mile naked?

01:17:24Yeah, there was a crazy storm that night, you dumb shit.

01:17:26Fuck you, man.

01:17:27That was dope, man.

01:17:28I'm a legend over there.

01:17:29Everybody remembers that.

01:17:31Okay.

01:17:31Me too, man.

01:17:32You don't think people remember your four-minute,

01:17:33three-second mile?

01:17:34Oh, what is this, a pep talk?

01:17:36Motherfucker, stop hiding.

01:17:37Seriously, okay?

01:17:39Stop being all meek and shit and running away.

01:17:42What, you want me to run through lightning

01:17:43with my dick out?

01:17:44Yeah.

01:17:45Please.

01:17:46Exactly that.

01:17:48Run through lightning with your dick out.

01:17:49Fuck it.

01:17:54You didn't go to your mom's?

01:17:56No.

01:17:58You took the car.

01:18:01How was the run?

01:18:02Did it clear your head?

01:18:04Kev found me and brought me these.

01:18:07And you guys talked?

01:18:08Yeah, he told me to run naked.

01:18:12You ran naked?

01:18:13No, it's a metaphor.

01:18:15He's saying I gotta take this thing head on.

01:18:18Well, I'm gonna run naked.

01:18:21You're gonna run naked head on?

01:18:22Well.

01:18:29I'd kinda like to see you run naked.

01:18:34By the way, Wall Street Bets is back up.

01:18:38The motherfucker held.

01:18:41Holy shit.

01:18:42He lost 30 million and he's still fucking held.

01:18:48Robinhood's back up.

01:18:49What?

01:18:52We gotta get back in.

01:18:52Where's his stock at right now?

01:18:54109.

01:18:56Are you sure?

01:18:57That's like all of the money that we made

01:18:59back into the stock.

01:19:04Yeah, you can't let them get away with this.

01:19:08Fuck them.

01:19:10If he's in, I'm in.

01:19:12He's in, I'm in.

01:19:19Fuck.

01:19:22Fuck.

01:19:23Why?

01:19:26The frenzy continues with retail investors

01:19:29bidding back up GameStop.

01:19:31Meme stock mania is back.

01:19:33As those message board traders simply send it higher.

01:19:35Stock volatility continuing it looks like this morning.

01:19:38Once again, GameStop involved in ongoing battle

01:19:41between retail investors and short sellers.

01:19:43We have a lot more on this story.

01:19:45Robinhood, Reddit, Citadel, and Melvin Capital,

01:19:48along with Keith Gill, better known as Roaring Kitty

01:19:51on social media, will be in the hot seat.

01:19:59I'm here testifying today far removed from my background.

01:20:02I grew up in a middle class family in Portland, Maine.

01:20:05My dad was a grocery store executive.

01:20:07Maybe leave that part out.

01:20:10Part about my dad?

01:20:11The executive part.

01:20:12Okay, okay.

01:20:13Fuck.

01:20:17I went to a public high school.

01:20:19I studied hard and got into Northwestern.

01:20:22Did you say a good college?

01:20:24I can't say I went to Northwestern.

01:20:25To Elite.

01:20:26Northwestern's too.

01:20:28All right.

01:20:33Upon graduation, I did not have a job.

01:20:35Today, I am married with four children.

01:20:37Gabe, where do you plan on doing your testimony?

01:20:42Here.

01:20:43In front of your wine collection?

01:20:47I mean, this is, I don't have that big a wine collection.

01:20:50Yeah, it's huge.

01:20:51Did your wrist seem to be on the bottom?

01:20:52Two.

01:20:53Maybe the center goes all the time.

01:20:55Three.

01:20:56Around you.

01:20:57Maybe here would be nice.

01:21:02Too many windows.

01:21:04Oh, it's very bright.

01:21:06Yeah, ocean front's not a great idea.

01:21:08It's blue.

01:21:09Yeah, okay, I hadn't thought of that.

01:21:11Yeah, downstairs there's more.

01:21:18Holy shit.

01:21:19Yo, Ria, our boy's on the news.

01:21:23Those relationships in D.C. are strong.

01:21:25The guys who run those hedge funds

01:21:26are the guys who fund presidential campaigns.

01:21:29You know, roaring kiddies don't have

01:21:31that kind of influence, but the hedge fund managers do.

01:21:33Gil is now being sued for securities fraud

01:21:34over his alleged role in the GameStop rally.

01:21:36Is Mr. Gil likely to appear,

01:21:38and if he appears, is he likely to talk

01:21:40if he faces the potential of prosecution?

01:21:43Fundamentals are based on three things.

01:21:46One, the digital risks are overblown.

01:21:48Two, the negative sentiment is overdone.

01:21:50And three.

01:21:56Come on, shut up.

01:21:59You guys, you guys, stop, stop.

01:22:01Let's keep going.

01:22:02All right, let's go.

01:22:03You're right, this is serious.

01:22:04You can go to jail forever.

01:22:05A long time, a long, long time.

01:22:07All right, here we go.

01:22:08Back of the game.

01:22:09Mr. Gil.

01:22:10Mr. Gil, may I call you Mr. Gil, sir?

01:22:12It's my name.

01:22:12Why the fuck wouldn't you be able to call him Mr. Gil?

01:22:13What were your intentions with the YouTube videos

01:22:17and your social media posts on GameStop?

01:22:18Yes.

01:22:19Thank you, Congresswoman.

01:22:20You're welcome.

01:22:21I developed a theory that the company

01:22:22was undervalued despite the significant short interest.

01:22:25Oh, so you were aware of the short interest?

01:22:27It is public knowledge.

01:22:28You could see it in the SEC file.

01:22:29And it was your goal to break these shorts, yes?

01:22:31To rally an online mob to artificially push

01:22:34the price of GameStop's soren?

01:22:36To the moon, as they say.

01:22:38Isn't that correct, Mr. Gil?

01:22:39Objection, objection.

01:22:40You lead the witness.

01:22:41Kev, I yield my time for the chair.

01:22:43You were hoping for the short squeeze, weren't you,

01:22:45Mr. Gil?

01:22:46Short squeeze, imbecile.

01:22:47The short squeeze was a marginal point of the thesis.

01:22:49Then why'd you talk about it in your videos all the time?

01:22:51You did talk about it in your videos.

01:22:52You talked about it a lot.

01:22:53Exactly.

01:22:54You were talking about the squeeze.

01:22:55You were like, it's just a little squeeze.

01:22:56Exactly.

01:22:57And you're really asking us to believe

01:22:58that you weren't a leader to all these retail traders?

01:23:00You're a fuck buddy.

01:23:01My point of view.

01:23:03Yes or no?

01:23:04Yes.

01:23:05Yes or no?

01:23:06You are admitting yes.

01:23:07You're a machine bottle of shit.

01:23:08Kevin.

01:23:09You were dunking tech.

01:23:09Kevin.

01:23:10You said it like a fucking what?

01:23:12I'm running with my dick out.

01:23:15Okay, why don't you just say that, okay?

01:23:17I'll stop.

01:23:19All right.

01:23:20Mr. Gil, what exactly about the fundamentals

01:23:24led you to build this bull cake?

01:23:26The fuck's with the voice?

01:23:27I don't know.

01:23:28I was trying to do AOC, but it was flat.

01:23:30I don't even think she's on the panel.

01:23:31You shut the fuck up, Breezy.

01:23:32I'll slap the shit out of you.

01:23:33Is she on the panel?

01:23:34You gonna slap me?

01:23:35Yeah, let's go.

01:23:35You ready to go?

01:23:37I've been waiting for this, dog.

01:23:56Come here.

01:23:58You're gonna be great.

01:24:01If it goes bad, it's gonna be real bad.

01:24:04Don't let it go bad.

01:24:06This year, we were voted first

01:24:07in a series of hearings by the committee

01:24:10to examine the recent market volatility

01:24:13involving GameStop.

01:24:15I wanna know how each of the witnesses here today

01:24:19will be able to answer the questions

01:24:21that have been asked by the committee.

01:24:24I wanna know how each of the witnesses here today

01:24:27contributed to the historic trading events in January.

01:24:33This recent market volatility has put a national spotlight

01:24:38on institutional practices by Wall Street firms,

01:24:42and they have demonstrated the enormous potential power

01:24:46of social media in our markets.

01:24:49We will hear firsthand from the witnesses

01:24:51regarding these events.

01:24:53The hearing will be an opportunity for this committee

01:24:56to get the facts about the role

01:24:58each of the witnesses represent,

01:25:00played, and the events we are examining today.

01:25:04Well, now, Mr. Griffin,

01:25:05if I could just ask you the first question.

01:25:07Of course.

01:25:07How many people are in the room with you?

01:25:10That's your question.

01:25:11If you could just count how many people

01:25:12are in the room with you.

01:25:18There are five people, including myself, in this room.

01:25:21Did anyone in your organization

01:25:23since January 1st contact Robinhood?

01:25:25We, of course, talk to Robinhood routinely

01:25:28in the ordinary course of business.

01:25:30We manage a substantial portion of their order.

01:25:32But did you talk to them about restricting

01:25:35or doing anything to prevent people from buying GameStop?

01:25:39I want to be perfectly clear.

01:25:42We had no role in Robinhood's decision

01:25:45to limit trading in GameStop.

01:25:47Fuck you, Ken Griffin.

01:25:48So if we depose everyone in your organization,

01:25:50we will find that?

01:25:52That is correct.

01:25:53It's like a Disney Channel villain.

01:25:56Mr. Plotkin, do you believe that there is

01:25:58a manipulation, distrust, and overall inequality

01:26:02with American finance?

01:26:03My focus is on my company, Melvin.

01:26:07Hello?

01:26:09You're on mute, dick.

01:26:10Uh, I'm sorry, you're on mute.

01:26:12Oh, no, no, no.

01:26:13Thank you, God.

01:26:15It's weird.

01:26:16It keeps going.

01:26:18In my area of expertise.

01:26:20You're still on mute.

01:26:21I haven't been able to hear a word you've said.

01:26:22Unfortunately.

01:26:23Mr. Tenev, would you be willing to commit today

01:26:25to volunteering to pass on the proceeds

01:26:27of the payment for order flow to Robinhood customers?

01:26:31Congresswoman, I appreciate that question.

01:26:33When the statement we referred to was made,

01:26:35it was before Robinhood forced the entire industry

01:26:38to drop commissions and rip the payroll.

01:26:40I should take that as a no.

01:26:41You're not willing to pass on the proceeds

01:26:43of payment for order flow to your customers?

01:26:45When the other brokers dropped.

01:26:46I'm just talking to them.

01:26:47Yes.

01:26:48I don't want to be rude.

01:26:49I just have limited time.

01:26:50But if removing the revenues that you make

01:26:52from a payment for order flow

01:26:54would cause the removal of free commissions,

01:26:58doesn't that mean that trading on Robinhood

01:26:59isn't actually free to begin with?

01:27:02Good question.

01:27:10Thank you very much, Mr. Gill.

01:27:12You are now recognized for five minutes

01:27:14to present your oral testimony.

01:27:19Thank you.

01:27:28Thank you, members of the committee.

01:27:33I am happy to discuss my purchase of GameStop shares

01:27:37and my discussions of their fair value on social media.

01:27:41But before I do that, a few things I am not.

01:27:47I am not a cat.

01:27:49What did he say?

01:27:50I am not an institutional investor.

01:27:52It's like a kiddie thing.

01:27:54I do not have clients

01:27:56and I do not provide personalized investment advice

01:27:59for fees or commissions.

01:28:01I grew up in Brockton, Mass.

01:28:04My family was not wealthy.

01:28:05My father was a truck driver

01:28:07and my mom, a registered nurse.

01:28:10I was one of three kids and the first in my family

01:28:12to earn a four-year college degree

01:28:14when I graduated from Stonehill College in 2009.

01:28:18That was not a good time to be looking for a job.

01:28:21From 2010 to 2017,

01:28:23there were significant periods when I was unemployed.

01:28:26I took an interest in the stock market.

01:28:29And even though I had very little money,

01:28:31I used those times to educate myself

01:28:34and learn more about investing.

01:28:35Mr. Gill, I find it hard to believe

01:28:38that you predicted everything that happened to GameStop

01:28:41with no inside information.

01:28:43I didn't predict it.

01:28:45I honestly couldn't explain

01:28:46everything that happened in January.

01:28:49I've seen your videos.

01:28:50You honestly couldn't recount to the committee

01:28:52what caused every single up and down

01:28:55of the stock in January?

01:28:57I think you could.

01:29:00I did follow the stock very closely,

01:29:03but threshold lists, order flows, halting purchases,

01:29:06according to the press,

01:29:07these all had a material impact on the stock.

01:29:09Here's the thing,

01:29:10I have a bit of experience with this stuff

01:29:11and even I barely understand these matters.

01:29:14It's alarming how little we all know

01:29:16about the inner workings of the market,

01:29:18and I'm glad this committee is examining what happened,

01:29:20particularly with the exorbitant short interest,

01:29:23as well as any potentially manipulative shorting practices

01:29:25and brokers' reported failures

01:29:27to timely deliver shares and settle trades.

01:29:33A lot of people feel the system is broken.

01:29:35The whole idea of the stock market

01:29:37is to be like kind of a fair playing field

01:29:39where if you're smart and maybe with a little luck

01:29:42you can make your fortune.

01:29:44But if it ever was that, it's certainly not anymore.

01:29:47The big firms have such a big advantage

01:29:49in terms of technology and information

01:29:51and just sheer wealth,

01:29:52there's no hope for the little guy anymore.

01:29:55Or there was no hope.

01:29:57Maybe now there is.

01:30:02And as for me, I like the stock.

01:30:05Yeah!

01:30:06Yeah!

01:30:07Big stuff for that.

01:30:08And I don't plan on selling anytime soon.

01:30:10Hold it!

01:30:11Diamond hands.

01:30:12Diamond fucking hands.

01:30:13Diamond hands, baby.

01:30:15Atta boy.

01:30:17What a nerd.

01:30:18Thank you.

01:30:27I was caught.

01:30:29I think.

01:30:31Yesterday's Reddit hearing in Congress

01:30:33brought together some of the power players

01:30:35behind the January trading frenzy.

01:30:37Maxine Waters did say that there will be

01:30:39additional hearings on this.

01:30:41And Roy Kitty, same guy, by the way.

01:30:44Whether it's markets or social media,

01:30:47or I'll just call it media,

01:30:48because that's what it is now.

01:30:49Do you think any new regulation gets done?

01:30:51What's clear is that we're in the wild west

01:30:53and that there is so much activity

01:30:54that's going on on these online forums.

01:30:56And we've seen in the last month,

01:30:58in the last six weeks,

01:30:59how much force day traders and mass

01:31:01can bring to the market and actually affect it.

01:31:03They used to just make some noise around the edges.

01:31:05Now they can actually move markets.

01:31:13Cheers.

01:31:40Cheers, everyone.

01:31:44Cheers.

01:31:57You're a fucking gangster.

01:32:14Hey, man, I noticed you've been selling a lot of new games,

01:32:16and I just want to remind you again

01:32:17that we really want to be pushing customers

01:32:19towards the higher margin premium games.

01:32:23No, I'm not going to do that.

01:32:25Excuse me?

01:32:26Oh, and in fact, I'm not going to do

01:32:28any of your circle-life bullshit

01:32:29or your TikTok dance content.

01:32:30You're quitting then?

01:32:33Okay.

01:32:34No, I mean, I thought about it,

01:32:36but, like, yo, I love it here.

01:32:39I mean, it's a good place to be.

01:32:42Like, yo, I love it here.

01:32:44So I think I'm going to stay.

01:32:45Oh, you're awfully smug for a kid

01:32:47who lost all his money buying stock.

01:32:49What'd you say it was going to?

01:32:51A thousand?

01:32:53I'm also not going to work

01:32:54at the ass-cracking bar in Newark.

01:32:56You're fired.

01:32:59No, I'm not.

01:33:01You got to get that approved

01:33:02by, like, seven levels of people, yo.

01:33:04Thanks to the geniuses who put that together, right?

01:33:07The ones who used to own my ass.

01:33:09You sold?

01:33:11Half.

01:33:14Right at the tippy-tippy top.

01:33:16And I'm holding the other half for the long haul.

01:33:19Cause I'm a savage.

01:33:21Classy, bougie, ratchet.

01:33:24Sassy, moody, nasty.

01:33:27Acting stupid, what's happening?

01:33:29I'm a savage.

01:33:31Classy, bougie, ratchet.

01:33:34Sassy, moody, nasty.

01:33:37Acting stupid, what's happening?

01:33:39Bitch, what's happening?

01:33:41Eat me and record it, but your edge up all I'm showing.

01:33:44I keep my niggas private, so his AP all I'm showing.

01:33:47Beefing with you bitches, really getting kind of boring.

01:33:49If it ain't about the money,

01:33:51then you know I'm going to ignore it.

01:33:52I'm the shit.

01:33:54I need a mouth to clean the floor, it's too much drips.

01:33:56I keep a night, I keep a watch, I keep a whip.

01:33:59Fuck it.

01:34:00Let's play a game, I'ma make you pay.

01:34:02I'm a savage.

01:34:03Classy, bougie, ratchet.

01:34:06Sassy, moody, nasty.

01:34:09Watch, I keep a whip.

01:34:10Fuck it.

01:34:11I'm here testifying today far removed from my background.

01:34:14I grew up in a middle-class family in Portland, Maine.

01:34:17I went to a public high school.

01:34:18I studied hard and got into a good college.

01:34:21Upon graduation, I did not have a job.

01:34:23Acting stupid, what's happening?

01:34:24Bitch, what's happening?

01:34:26When the statement you refer to was made,

01:34:30I believe 2015 or 2016,

01:34:32it was before Robinhood forced the entire industry

01:34:35to drop commissions.

01:34:37I should take that as a no.

01:34:38You're not willing to pass on the proceeds

01:34:40of paying for order flow to your customers?

01:34:42That body right, but you know this pussy fat.

01:34:44Ooh, I drop a picture, now these bitches feel attacked.

01:34:47Ay, don't let that nigga gas you up and get you whacked.

01:34:50Ooh, I make a call and get that pussy next night.

01:34:51But did you talk to them about restricting?

01:34:54Are you doing anything to prevent people from buying,

01:34:58not selling, but buying in-game stuff?

01:35:00Let me be perfectly clear.

01:35:03Absolutely not.

01:35:08You're not drunk, are you?

01:35:10No, I don't drink at all.

01:35:12I'm serious.

01:35:13I can't believe you're in my last best friend class,

01:35:15but I'm telling you, back in my day,

01:35:17my best friend class was about to kill me.

01:35:19I'm not gonna get it in a second.

01:35:21It's not gonna happen, so don't talk to me about it.

01:35:25Just leave me alone.

01:35:26I gotta get to my class.

01:35:27Sorry, I'm late.

01:35:29What time is it?

01:35:30I don't know.

01:35:31What time?

01:35:32It's five to seven.

01:35:34You found me?

01:35:35Thank you.

01:35:37Ah, I can't believe you're my brother.

01:35:39You look like a fuckin' ninja turtle.

01:35:40Really?

01:35:41Yep.

01:35:43You sad?

01:35:43Fuck you!

01:35:44What?

01:35:44Trevor!

01:35:47Come on, Katie!

01:36:07They're gonna rip it off

01:36:10Takin' their time right behind my back

01:36:15And a message comin' from my eyes

01:36:18Is leave it alone

01:36:37Don't wanna hear about it

01:36:56Every single one's got a story to tell

01:37:01Everyone knows about it

01:37:05From the queen of England to the hounds of hell

01:37:09And if I catch you comin' back my way

01:37:12I'm gonna serve it to you

01:37:18And that ain't what you want to hear

01:37:20But that's what I'll do

01:37:25And the feeling comin' from my bones

01:37:28Sets my heart on

01:37:58And that's what I'll do

01:38:21I'm goin' to Wichita

01:38:24Far from this opera forevermore

01:38:28I'm gonna work the straw

01:38:32Make the sweat drip out of every pore

01:38:36And I'm bleedin', and I'm bleedin', and I'm bleedin'

01:38:39Right before the Lord

01:38:44All the words are gonna bleed from me

01:38:47And I won't think no more

01:38:51And the stains comin' from my blood

01:38:54Tell me go back home

01:38:57I'm goin' to Wichita

01:39:00Far from this opera forevermore

01:39:03I'm gonna work the straw

01:39:06Make the sweat drip out of every pore

01:39:09And I'm bleedin', and I'm bleedin', and I'm bleedin'

01:39:12Right before the Lord

01:39:27Make me wanna

01:39:29Make me wanna

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Dumb Money Movies (2023)

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