Stock Broker Robinhood CEO explains why they had to limit GameStop buys
https://videosift.com/video/Elon-Musk-grills-Robinhood-CEO-about-trade-restriction

Ultimate wallstreetbets, Gamestop, Robinhood summary/update has been added as a related post - related requested by eric3579.

Louis summary and changed/updated views of all the things wallstreetbets, Gamestop, Robinhood. Makes situation much more understandable for someone like me with very little knowledge of how all these things work. https://youtu.be/jQDHWu32W7o

Your video, The Gamestop Short Squeeze in 4 Minutes, has made it into the Top 15 New Videos listing. Congratulations on your achievement. For your contribution you have been awarded 1 Power Point.

Your video, Payne ...Wall St over GameStop: All of this whining ..., has made it into the Top 15 New Videos listing. Congratulations on your achievement. For your contribution you have been awarded 1 Power Point.

...And I'm out. The local GameStop got me. :-/

I got to try one at an Electronics Boutique, a store that used to be around before Gamestop bought all game stores.

*promote punctuation

The X1 allows you to transfer the license once (borrow or sell the title) to a friend that's on your friends list for 30 days.

Select partners (Gamestop obviously) will be able to resell used games, I'm sure they have some huge massive contract with MS for this.

The big kicker is the online requirement, the system will check authentication once every 24 hours or once per hour if you're on your account but not on your machine. If you fail the check (internet goes down etc) you're unable to play any games, although the Bluray and media center functions remain unchanged.

Overall Microsofts policy and lackluster handling of the situation and info has been terrible overall. For the first time in years (since ps1 gen 1) I'll be getting a Sony system to pair up with my PC for games/entertainment.

Pretty true, except that they don't hire men to work at GameStop anymore.

So during the current armed robbery you're supposed to consider the possible consequences upon the next armed robbery? Try this logic. The current armed robbery is your supposed next robbery.>> ^Yogi:

>> ^MarineGunrock:
Anti-escalation policies can get people killed. Some robbers will just as easily shoot someone complying with their demands ans someone who tried to resist. I'd take the shot in a heartbeat.

Try this logic. Walgreens guy defends Walgreens with a hand gun...at the next Walgreens robbery a few towns over after this has made national news the robbers come in hyper aggressive with AK-47s. They don't fuck around they just shoot if they think anyone can possibly be reaching for a gun.
I remember when I used to work at Gamestop I helped out at another one...and they told me someone was just fired for leaving too many envelopes of the days earnings in the safe. I thought "That's stupid whats the big F'n deal?" They explained to me that if a robbery had happened and the thieves got away with a large haul...it could potentially put more people in danger because it would get the message out that there's a large haul to be had from Gamestop...people could die over something like that.
Also your "some robbers will just as easily shoot someone complying with their demands..." comment. Is it based on fact or a study?

I'm not sure what bias there would be. I seriously doubt that's the kind of thing you could easily study, so I'm not going to bother looking for data. But we all know that people on drugs, meth in particular, are/can be very paranoid and twitchy. It doesn't take but a bell to ring at the door for them to be spooked enough to pull the trigger while it's aiming at the clerk. Besides, I think that if they had access to AK-47s they'd use them the first time. It's why I go to the range as much as I can to keep my aim as good as possible. If I get the chance to draw a bead on someone who is actively and willingly endangering someone's life, they probably won't live to regret it. 15 hollow point rounds to the chest would make sure of that.>> ^Yogi:

>> ^MarineGunrock:
Anti-escalation policies can get people killed. Some robbers will just as easily shoot someone complying with their demands ans someone who tried to resist. I'd take the shot in a heartbeat.

Try this logic. Walgreens guy defends Walgreens with a hand gun...at the next Walgreens robbery a few towns over after this has made national news the robbers come in hyper aggressive with AK-47s. They don't fuck around they just shoot if they think anyone can possibly be reaching for a gun.
I remember when I used to work at Gamestop I helped out at another one...and they told me someone was just fired for leaving too many envelopes of the days earnings in the safe. I thought "That's stupid whats the big F'n deal?" They explained to me that if a robbery had happened and the thieves got away with a large haul...it could potentially put more people in danger because it would get the message out that there's a large haul to be had from Gamestop...people could die over something like that.
Also your "some robbers will just as easily shoot someone complying with their demands..." comment. Is it based on fact or a study?

>> ^MarineGunrock:

Anti-escalation policies can get people killed. Some robbers will just as easily shoot someone complying with their demands ans someone who tried to resist. I'd take the shot in a heartbeat.


Try this logic. Walgreens guy defends Walgreens with a hand gun...at the next Walgreens robbery a few towns over after this has made national news the robbers come in hyper aggressive with AK-47s. They don't fuck around they just shoot if they think anyone can possibly be reaching for a gun.

I remember when I used to work at Gamestop I helped out at another one...and they told me someone was just fired for leaving too many envelopes of the days earnings in the safe. I thought "That's stupid whats the big F'n deal?" They explained to me that if a robbery had happened and the thieves got away with a large haul...it could potentially put more people in danger because it would get the message out that there's a large haul to be had from Gamestop...people could die over something like that.

Also your "some robbers will just as easily shoot someone complying with their demands..." comment. Is it based on fact or a study?

I think it's both hilarious and insane that you think Wal-mart simply re-arranges a local economy. A lot of Mom & Pop stores are niche market but make a lot of their profit off your everyday Joe & Jane buying garbage. That is probably the majority of consumer product in America - garbage. I remember I was really good friends with the owner of a record store in a small town but he made most of his money from larger "indie" rock bands on Atlantic records or some shitty metal band. 98% of everything else was underground punk, pop-punk, grindcore, power-violence, thrash, straight-edge hardcore, emotive hardcore, gravity style, D-beat, black metal etc etc. But, he made most of his profits from garbage. Don't think about anything folks, just work your shitty job and hope your wife doesn't cheat on you. Remember to pay your taxes. BLEH!

The other problem in my eyes is that a lot of middle-class & lower-class people inevitably shop at Wal-mart because of cheaper prices. I remember reading an article about how Wal-mart lost revenue last year but luxury stores (Neiman Marcus, etc) finances skyrocketed. The rich are now uber rich and they burned up the middle-class as well as their jobs so we could get them to new heights of wealth. Wal-mart and a lot of shitty huge corporate stores are VERY much apart of this topic & apart of the problem America faces. As long as there are huge big-box stores stamping out local business and selling product cheaper because they are such a gigantic virus-like company - local economies across the entire country will never get "well". Make these stores into Co-ops and maybe we'll get somewhere, we have to snuff out at least some of these greedy fucks.

It's still stunning to me that people are able to stick up for such a piece of shit company.

>> ^Winstonfield_Pennypacker:

Wal-mart... crazy rant about how it kills your neighbors...
I've never quite understood this argument. Wal-Mart doesn't kill local businesses. It rearranges them and then creates more jobs. Every Wal-Mart that goes up has about 10 restaurants, 2 car dealerships, 1 Gamestop, a couple book stores, and a bunch of other ancillary businesses sprout up literally overnight right next to it once it opens. These places employ - that's right - your neighbors. It has been demonstrably proven over and over again that Wal-Marts increase employment and revenue in the communities they enter. Do they shake up the environment and force local shops to change it up? Of course. But for every guy that curses Wal-Mart because he had to close his Mom & Pop, there are 20 other guys who are cheering Wal-Mart as they take showers in new business money.

I'm sure that's a HUGE consolation to the other 40 people that lost their jobs.>> ^rychan:

>> ^Winstonfield_Pennypacker:
Wal-mart... crazy rant about how it kills your neighbors...
I've never quite understood this argument. Wal-Mart doesn't kill local businesses. It rearranges them and then creates more jobs. Every Wal-Mart that goes up has about 10 restaurants, 2 car dealerships, 1 Gamestop, a couple book stores, and a bunch of other ancillary businesses sprout up literally overnight right next to it once it opens. These places employ - that's right - your neighbors. It has been demonstrably proven over and over again that Wal-Marts increase employment and revenue in the communities they enter. Do they shake up the environment and force local shops to change it up? Of course. But for every guy that curses Wal-Mart because he had to close his Mom & Pop, there are 20 other guys who are cheering Wal-Mart as they take showers in new business money.

I agree that it's a crazy rant, but I'll take it further. Any argument about making or killing jobs is a crazy rant.
Our goal, as a society, is to reduce the number of jobs needed in stupid stuff (like retail), so that we can put more of our collective resources into things that actually improve us as a society (research, education, health care).
If a WalMart meets the retail needs of a community with 40 jobs instead of 80 independent merchants, FANTASTIC. That means we all get to spend less money on equipping and feeding ourselves, and more money on schools and space programs. If you went out of business because a WalMart showed up, your job was not adding enough value to the product to be worthwhile. Sorry, the free market has spoken. But don't worry, we haven't reduced the productive output of the human race, this just means that we have more resources to spend on science instead of mom and pop shoe stores.
So stop bragging about your stupid government project "creating hundreds of jobs". Anyone can create make-work jobs. The only job the government should be creating are those that directly serve the public good and that can't be financed on an individual scale. Basic research falls into this category. So does policing and homeland security, although I think we've gone way overboard on security spending.

>> ^Winstonfield_Pennypacker:

Wal-mart... crazy rant about how it kills your neighbors...
I've never quite understood this argument. Wal-Mart doesn't kill local businesses. It rearranges them and then creates more jobs. Every Wal-Mart that goes up has about 10 restaurants, 2 car dealerships, 1 Gamestop, a couple book stores, and a bunch of other ancillary businesses sprout up literally overnight right next to it once it opens. These places employ - that's right - your neighbors. It has been demonstrably proven over and over again that Wal-Marts increase employment and revenue in the communities they enter. Do they shake up the environment and force local shops to change it up? Of course. But for every guy that curses Wal-Mart because he had to close his Mom & Pop, there are 20 other guys who are cheering Wal-Mart as they take showers in new business money.


I agree that it's a crazy rant, but I'll take it further. Any argument about making or killing jobs is a crazy rant.

Our goal, as a society, is to reduce the number of jobs needed in stupid stuff (like retail), so that we can put more of our collective resources into things that actually improve us as a society (research, education, health care).

If a WalMart meets the retail needs of a community with 40 jobs instead of 80 independent merchants, FANTASTIC. That means we all get to spend less money on equipping and feeding ourselves, and spend more money on schools and space programs. If you went out of business because a WalMart showed up, your job was not adding enough value to the product to be worthwhile. Sorry, the free market has spoken. But don't worry, we haven't reduced the productive output of the human race, this just means that we have more resources to spend on science instead of mom and pop shoe stores.

So stop bragging about your stupid government project "creating hundreds of jobs". Anyone can create make-work jobs. The only job the government should be creating are those that directly serve the public good and that can't be financed on an individual scale. Basic research falls into this category. So does policing and homeland security, although I think we've gone way overboard on security spending.