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GME absolutely has no future. Before the pandemic, they unveiled a sort of "Dave and Busters" style of "experience" of making the stores a social and activity hub. This was roundly panned as ludicrous, never mind that this doesn't actually boost their revenue in any tangible way. Then the pandemic came and...welp. The stock price is meaningless unless the company is either planning a secondary offering (they aren't) to raise capital at these inflated prices, or using it as ammo in an all-stock acquisition (there is likely not a single acquisition target that is going to accept the pumped wooden nickels being offered). Whether the price is $4 or $4000 nothing changes the underlying business.
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Feb 1, 2021 15:02
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kw0134 posted:using it as ammo in an all-stock acquisition That wouldn't help their long-term future either, because they've tried that. They bought / funded some game devs, and acquired stardock's minor digital distribution platform. It was a complete failure because their core business is buying a used disc for $10 and selling it for $45, and they don't know how to do anything else.
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Feb 1, 2021 16:31
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Arguably they've not tried hard enough, and were this price action sustainable they'd be able to acquire something more substantial and pivot away from a losing business plan. But it's not and the price today fell by 33% so far. RIP. Anyway the point is that the price is an illusion and everyone at this point is putting money on a roulette wheel and hoping that it keeps landing on 00.
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Feb 1, 2021 16:35
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I disagree about GME having no future. They have no future under their current model. But it's not too late to change. If they switch their predatory resale practices to something a bit more consumer friendly, add some real quality control to what they resell (no more discs without cases), and put real effort into retro gaming, they should be able to stay afloat. The demand for games is still there. All digital isn't coming any time soon. And retro gaming is only gaining in popularity. Gamestop already has the stores everywhere. They just need to fix poo poo internally. But they won't. And are going to go out of business.
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Feb 1, 2021 18:13
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Didn't they just get a new person on the board and that's why people think it will turn around?
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Feb 1, 2021 20:42
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GameStop suddenly not becoming GameStop isn't going to happen because it got a single new board member and a temporarily inflated stock price. This is like Kodak, where people think that "oh if they just went to digital cameras" when that would have been a move that stopped letting Kodak be Kodak, a chemical company involved in selling consumables to everyone on the planet. Whatever pivot people envisage, it's going to be basically a brand new company. That's not happening.
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Feb 1, 2021 20:50
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Kodak invented the digital camera lmao.
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Feb 1, 2021 20:50
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And it would have been a completely worthless invention to them, particularly at the time (late 70s) when there was no storage, no way to interact with it except by copying it back to film. It would have killed their revenue stream of selling consumables to everyone on the planet, does not play to their true strengths, and been eaten alive when the real camera makers beat them at the high end, and cell phones take over on the low-medium end. It's like Verizon inventing a new phone that can communicate with any other phone of its type any where in the world without the use of an intermediary network. Sure, that would be an epochal accomplishment. It would also render their entire business plan worth literal trillions absolutely nil. They'd sell a generation's worth and then go out of business.
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Feb 1, 2021 20:58
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it'd be like netflix pivoting away from being a logistics company shipping around physical media and turning into a digital content producer (but yeah most companies don't transition that well)
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Feb 1, 2021 21:00
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kw0134 posted:And it would have been a completely worthless invention to them, particularly at the time (late 70s) when there was no storage, no way to interact with it except by copying it back to film. It would have killed their revenue stream of selling consumables to everyone on the planet, does not play to their true strengths, and been eaten alive when the real camera makers beat them at the high end, and cell phones take over on the low-medium end. Companies can pivot. Look at Netflix. They aren't at all what they started as. You could say similar things for apple and amazon. But with those it's just that they have expanded so far away from where they started. Kodak could have survived if they weren't stubborn about change. GS could still survive if they take a step back from their lovely practices and fill a niche that really doesn't have a good source. I mean, you've got ebay and online marketplaces and mom and pops. But a nationwide vendor that sells retro stuff that is tested and works and is honest about what they are selling would be insanely well. And the product is out there. There are a lot of people who have old stuff lying around that they'd take to GS because it is much easier than ebay or craigslist. GS is afraid to take a chance on it, though. I remember reading an article about a manager there who was trying to get them into retro stuff about 10 years ago but the corp heads just wouldn't do it the right way. Totally bungled. GS will die and something else might take its place. Its just a hard business to get up and running, let alone to expand. Nowadays, unless you already had the store before things started to blow up, the startup costs are just too high. I mean getting enough retro stuff to have a decent shop.
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Feb 1, 2021 21:05
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GameStop should sell used videogames on some sort of Blockchain based system.
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Feb 1, 2021 21:26
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I don't think GameStop is a Netflix in waiting, because I don't think the retro stuff is enough to carry that. Like, part of the point of retro gaming is that there's a fixed amount of old stuff available to purchase and sell, and that's not really a growth business unless there's suddenly new stock in cartridges, old consoles, etc. And then you can just get that at Amazon or Walmart. It'd be a bit like opening a mass market for old French Impressionist artists. Also a key difference: Netflix had low overhead. Amazon had low overhead. Netflix still retained its envelope service and cut costs while growing the digital side. Amazon famously plowed all its profits into more and more sectors to sell since the underlying concept of "sell books on interwebs" translates well to pretty much any non-perishable good. Whatever GameStop has, it has a big retail presence that is doing it no good right now and a pile of inventory that is losing value as time goes on. You need a clear plan to get from A to B. Even Apple had strong design chops at its nadir in 2002ish, that's how we got the iPod and then finally the iPhone. Even leaving aside that no one at GameStop is proposing this plan, I doubt that if they focused on retro stuff that they'll suddenly abandon their predatory practices. That's, after all, how they got big enough to be in trouble in the first place. Anyone expect that to happen? If not, then why bother talking about other counterfactuals?
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Feb 1, 2021 21:28
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not even the gamestop thread but, japan has made three or four major brick and mortar chains out of buying and reselling retro games and other goods. sometimes they'll stock something really rare and expensive but for the most part it's like, here's a refurbished NES that's guaranteed to turn on and load a game for $30, by the way we have dragon quest, castlevania 1, and the adventures of lolo for $3 each
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Feb 1, 2021 21:49
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My point isn't that it will happen, but that it could. Physical media isn't going away any time soon. Definitely not this generation and probably not next gen, either. There will continue to be a demand for in person sales. GS could tap into other markets to supplement their business. They aren't and that is why they are going to die. It's poorly run and has been for a long time. That is also why it is going to die. It deserves to die.
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Feb 1, 2021 21:49
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FWIW, Netflix still has a disc-based service. If only they could market a recommendation/curation service to go with it, a la Criterion Channel's rotating offerings and celebrations. A lot of people would like to be told what to watch under the guise of cultural education.
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Feb 1, 2021 21:50
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If GameStop paid out in Bitcoin instead of store credit...
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Feb 1, 2021 21:51
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Fur20 posted:not even the gamestop thread but, japan has made three or four major brick and mortar chains out of buying and reselling retro games and other goods. sometimes they'll stock something really rare and expensive but for the most part it's like, here's a refurbished NES that's guaranteed to turn on and load a game for $30, by the way we have dragon quest, castlevania 1, and the adventures of lolo for $3 each
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Feb 1, 2021 22:31
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kw0134 posted:And it would have been a completely worthless invention to them, particularly at the time (late 70s) when there was no storage, no way to interact with it except by copying it back to film. It would have killed their revenue stream of selling consumables to everyone on the planet, does not play to their true strengths, and been eaten alive when the real camera makers beat them at the high end, and cell phones take over on the low-medium end. Just jumping in, your post kind of reminds me of Xerox anticipating the threat to its business model of the paperless office, setting up a lab in Palo Alto to research the paperless office and inventing all the ways we interact with computers, then all their competitors being the ones to corner the market with innovations that Xerox researched.
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Feb 1, 2021 22:46
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Sometimes just because you can see the meteor that is about to hit your business model doesn't mean you are in a position to do anything about it.
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Feb 2, 2021 00:05
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GameStop shuts down all locations, sells real estate, and pivots into an investment bank?
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Feb 2, 2021 00:27
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Gamestop sells its own shares at retail locations and takes a 2% spread
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Feb 2, 2021 00:32
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The PS5 has 600GB usable space for games, and NBA PS5 for example is 150GB. I think the digital only argument is overblown. That said I just order physical games from Amazon so GameStop has a behemoth to compete with in regards to selling physical games.
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Feb 2, 2021 02:41
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salt shakeup posted:The PS5 has 600GB usable space for games, and NBA PS5 for example is 150GB. I think the digital only argument is overblown. That said I just order physical games from Amazon so GameStop has a behemoth to compete with in regards to selling physical games. You know that the nextgen systems have to install 100% of the game onto the internal drive regardless of whether you have physical media or not, right? (Also that installing giant games from bluray will take an hour, which is faster than most people's internet at least but still means you can't just put it in and play. If drive space was the only issue and someone preferred digital, the better solution is to get a cheap external HD and move games back and forth. Way faster than dealing with discs.) OTOH if you are a bargain hunter there are better discounts and sales buying physical than there are digital on consoles, even if you ignore used.
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Feb 2, 2021 03:14
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Klyith posted:You know that the nextgen systems have to install 100% of the game onto the internal drive regardless of whether you have physical media or not, right? No I did not know that - I guess that makes sense in the context of the ultra fast game loading. Oops so maybe it's not overlooked. Last I read you can't put PS5 games on external drives, only PS4 games. Hopefully that will change. As you said it would be easier to load/unload using a Bluray than downloading it.
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Feb 2, 2021 03:20
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jokes posted:I just don’t know how Bitcoins could ever be a real thing. As you'll find, bitcoin is already a step ahead of its doubters.   Pay no attention to the theft problems behind the curtain. quote:Paper wallet generation is one of the most popular methods of generating private keys offline. Users only need to prepare a clean and safe computer, connect to a paper wallet generation website, disconnect from the network, and directly use the function of generating a private key to obtain a new set of private keys and the corresponding wallet address.
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Feb 2, 2021 03:51
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Waltzing Along posted:I disagree about GME having no future. They have no future under their current model. But it's not too late to change. I would add collectibles to this. It's a huge market, and they consistently price themselves alongside ebay gougers. But yeah. It's not 1998 anymore, there are other options. Instead they're going to Blockbuster themselves. Edit: I typed this out before reading all the Netflix mentions.
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Feb 2, 2021 04:01
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salt shakeup posted:Last I read you can't put PS5 games on external drives, only PS4 games. Hopefully that will change. You can't run them from an external drive, but you can move a game off onto the external to free up space on the internal and save having to download it again. To play it again you'd have to move it back to the internal, but that should only take 5-10 minutes. And it will probably never change that the PS5 games can't run from external -- super fast storage is a big feature of the nextgen stuff and USB3 just isn't fast enough. However, the PS5 does have an extra internal slot for NVMe drives, the same as PCs use. If sony follows their recent pattern, that slot will be able to use generic non-proprietary drives for decently priced expansion. But for now the slot can't be used at all so it's impossible to say for sure. (If sony are continuing to be nice, they're just waiting for more PCIe 4 drives to be available so they can release a list that says "these drives are fast enough to work as additional storage" that has move than like 3 things on it. If they're not gonna be nice you will have to buy some sony-only drive same as the xbox's proprietary and overpriced extra storage.)
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Feb 2, 2021 04:02
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Klyith posted:You can't run them from an external drive, but you can move a game off onto the external to free up space on the internal and save having to download it again. To play it again you'd have to move it back to the internal, but that should only take 5-10 minutes. Thanks for clarifying, that seems kind of painful
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Feb 2, 2021 04:15
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Is there even a way to make sensible crypto bets? What you see is certain coins will spike 30% and then drop. But Google doesn't provide answers for what happened before the spike. Discord-planned PND? Few other ideas than cryptocurrency people attacking any minor jump.
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Feb 2, 2021 04:30
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Bright Bart posted:Is there even a way to make sensible crypto bets? What you see is certain coins will spike 30% and then drop. But Google doesn't provide answers for what happened before the spike. Discord-planned PND? Few other ideas than cryptocurrency people attacking any minor jump. Yeah, buy and hold bitcoin. As the dollar value falls due to inflation bitcoins value rises vs the dollar. It cant really have inflation and the more people trust and use it the more scarce it is. Id rather invest in stocks and sell options personally. The main risk with crypto is a mass market exodus.
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Feb 2, 2021 04:43
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spunkshui posted:As the dollar value falls due to inflation 
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Feb 2, 2021 04:52
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Bright Bart posted:Is there even a way to make sensible crypto bets? What you see is certain coins will spike 30% and then drop. But Google doesn't provide answers for what happened before the spike. Discord-planned PND? Few other ideas than cryptocurrency people attacking any minor jump. A ton of crypto market activity happens on overseas exchanges that have zero regulation and don't try to stop things like wash trading and fake buy / sell orders that are straight up illegal in the US, EU, and everywhere else with functional markets. Heck, trading that happens in defi isn't regulated even by a country with bad laws, since it has no physical presence in the real world. Also, collusion for market manipulation absolutely happens, there's a fairly well-known group called "whalepool" that is or was doing that. Also also, a huge amount of crypto value is likely backed by a company that prints fake dollars by the billion and is ducking several jurisdictions that want to audit their claims about their fake dollars being backed. If your experience with GME was that markets are manipulated to gently caress you over, buddy you ain't seen nothing yet.
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Feb 2, 2021 04:58
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butthereum
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Feb 2, 2021 17:55
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Apparently DOGE is worth some money now, and I remembered I had a small amount on an old laptop back when millions were flying around, so this weekend I set out about trying to get them into an exchange and turn it into money. This entire process has reminded me why these coins will not work in a practical sense as a everyday currency. It has been so convoluted, error prone, and LONG. I've been trying to get these dog coins into a new wallet and then into the exchange for like four days, and I'm still running into issues. I also consider myself more tech-literate then a normal person on the street - so I can only image what the average joe consumer would be doing if they lost/locked their wallet or couldn't make a transfer due to some random "ERROR CODE 400" or tried to verify/sign/broadcast their own transactions or couldn't sync their client to the network.
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Feb 2, 2021 18:12
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Goon investment advice explained:Jesustheastronaut! posted:Goons when bitcoins are $100 each: "what a bubble, if you buy now you're an idiot who deserves what you're about to lose" Dogecoin, 24 hours later:  Dogegoons: "Well gently caress." Meanwhile: Goons when bitcoin is at $5 each: “It's a scam, it's a bubble, never invest in this poo poo!” Goons when bitcoin is at $500 each: “It's a scam, it's a bubble, never invest in this poo poo!” Goons when bitcoin is at $5,000 each: “It's a scam, it's a bubble, never invest in this poo poo!” Goons when bitcoin is at $15,000 each: “It's a scam, it's a bubble, never invest in this poo poo!” Goons when bitcoin is at $35,000 each: “It's a scam, it's a bubble, never invest in this poo poo!” Seraph84 when bitcoin is at $255 and every day since: “buy and hold bitcoin!” Seraph84 when bitcoin is at $40,000 each: “I just realized $150,000 in profit. Time to buy some Manhattan real estate.” Never take investment advice from goons, unless that goon's name starts with Seraph and ends with 84. ChronoBasher posted:Apparently DOGE is worth some money now, and I remembered I had a small amount on an old laptop back when millions were flying around, so this weekend I set out about trying to get them into an exchange and turn it into money. quote:these coins (USER WAS PUT ON PROBATION FOR THIS POST) (USER WAS PERMABANNED FOR THIS POST)
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Feb 3, 2021 14:36
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Who is Sueraph84?
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Feb 3, 2021 14:39
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xtal posted:Who is Sueraph84?
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Feb 3, 2021 14:40
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drat HugeGrossBurrito been exercising the index
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Feb 3, 2021 14:41
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what will 150k get you in manhattan?
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Feb 3, 2021 14:45
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While it's sometimes really funny to engage sueraph25, it gets lost in the comedy that they're a mentally unstable pedophile, an actually dangerous person, not in the good way that was used for Emma Goldman or John McAfee.
xtal fucked around with this message at 14:52 on Feb 3, 2021 |
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Feb 3, 2021 14:47
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