00:00I don't want to bash it too much, but it was basically seen by most on Wall Street as kind
00:02of a marketing campaign from Ryan Cohen, who is the now head of GameStop. He was a big driver
00:07between behind that 2021 meme stock mania around GameStop, become the largest shareholder, one of
00:14the largest shareholders leading the company. He was a co-founder of Chewy, made his name through
00:18that. So it was broadly seen as kind of a interesting thought, but resoundingly rejected
00:26by eBay back in May. He said he was going to come for him one way or another. And ultimately,
00:31according to our reporting, now considering pulling that bid.
00:35Why does GameStop want eBay? I mean, the market seemed quite disappointed this didn't happen
00:39or isn't going to happen potentially.
00:41Well, the big debate always was you want to make a $56 billion takeover when you have a
00:46market value of $8 billion and you have cash and equivalents of $8 billion. So there's a
00:51huge gap you have to bridge at some point.
00:53Yeah. Yeah. You know, if you work on Wall Street, there are levers you can pull. But
00:58the reason I think we're seeing eBay shares down a little bit again is just given kind
01:04of that option, the call option potential of this being something that could work out.
01:09Cohen basically has really been vocal in bashing eBay management, talking up the potential synergies
01:15that they could see. Again, eBay downplayed those banker or analysts were really like $2 billion
01:20in proposed synergies. Still feels like a bridge too far on the potential merger.
01:25This is a company that Cohen has been either publicly leading or behind the scenes leading
01:29for quite some time. And the big question has been, what does it actually look like?
01:33What do you look like if you're a game retailer in an era where people download games?
01:37All right. Data center company Switch, good name, filed confidentially for a US IPO. What do we know
01:45about Switch? Data center REITs are hot. Anything around data center is hot. We had reported back in
01:52July, early July, the company was kicking off a private funding round led by Anderson Horowitz.
01:58That would raise $2 billion equity value or enterprise value, excuse me, approaching $50 billion.
02:04So our reporting that they filed confidentially on Friday, working with B of A, Citi, Goldman,
02:09JP, and Morgan Stanley, the who's who, and that that funding round was either complete or near
02:14complete. And then Ben Horowitz, co-founder of Anderson Horowitz, would be joining the board.
02:19So now the big question is, as we reported, targeting a November IPO, how quickly does that come together?
02:25Will the market still be there? And if you're doing a $2 billion private raise,
02:28IPO is probably going to be much larger.
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