All right our first story this week. Amc entertainment has sold two hundred and thirty million dollars in stock in order to go on a buying spree. they're already talking to the landlords of arclight cinemas pacific theatres. some of the movie chains. One of the things that happened in a pandemic or crisis is that some of the small players fall because they don't have enough cash or ability to raise cash to survive while bigger players that either have the cash or the ability to borrow cash and ab- scooping them up and i think that's what we're about to see we're about to see amc gonna buying spree of a bunch of little feeder jane's regionals and things like that that could have individually survived like the crazy thing is so it's not like amc had this money went and raise this money so arkley could also like investors could have just invested straight in arc light instead of investing game see to by arc light but there's this belief among certain investment groups. That bigger is better in there will be efficiencies of scale and like i guess there might be i guess. Amc might be able to get like cheaper popcorn buying it bigger volume and they'll have more powers negotiations with the studios. Here's a line from the from the article on the rap about this we also have coverage on it on no film school but the new deal The recent market surge has enabled the new deal since the eight point. Five million shares represent a small portion of the current trading volume. That's a wall street jargon. This transaction underscores the real value of having some authorized share capital available for us to opportunistically capitalize on shareholder value creation possibilities as and when they arise with our increase liquidity and increasing vaccinated population blah blah blah blah timeframe to go on the offense. So it's sort of like that's part of the the size and scale that affords them the ability to get their hands on this kind of cash quickly to make this kind of deal. That's my reading of that but it sounds like that's the reasoning. Why it's amc. I guess and not having the ability to get that kind of authorized share capital. What that means now. I feel like i need a glossary. Is it always goes back to we. Have this idea that like there are natural forces that are actually the results of design and so the way our stock markets are designed to operate is. They're designed to favor bigger organizations that think in shorter-term increments and so like if we redesigned our stock market. Which like. i don't know how to do. But i'm sure i'm sure there's a lot of people great ideas that favored longer term investments. That paid out money over time and favored smallness instability. It would have been easier for smaller companies to find those direct investments. I remember once. I met an investor and a coffee shop. It's a long story but we're like sitting three in a row and a coffee shop in someone else was like telling like the table next to us. Someone was saying about a need they had. I owned a company that time that provided that i like interrupted their conversation to be like. Oh hey i actually do what you need. You should call me. Give my card and the guy was like that was a really smooth way to do that. And we like a long conversation about sales and wind up people and stuff. And then i tried to put him in an idea and he was like. I'm really not interested in anything. That's not a core technology that will make billions of dollars. And i was like yeah. I don't have any like that. He's like yeah of course but like And it was one of those moments where i was like you know. Investors want tax returns investors. Big you know all of those things and so like does bum me out. That it's like. I really wish that somehow that two hundred like that the market. I don't blame any individual player in this but it would be awesome if our market were designed such that two hundred and thirty billion dollars could just be separately given to each of the individual little movie theater chains to keep doing what they are doing. As opposed to having to be given to one entity that will then go up by all the others and like that's can you realize names e in particular. Yeah yeah no i have. You make really good point. Amazing i think knocking min height myself before i say it but i think i have a really good corollary to industry creative experience in the film making industry. Which is that when you say you're a writer or director and you have a bunch of properties you're working on like ideas and you take a bunch to your manager and agent and they start trying to sell them. They will always take the ideas they think are the most profitable to the biggest companies. Because they're not that interested in small games because they get a small piece. They are interested the first they wanna they want to hunt the biggest game i because they're only going to get a certain amount like the hyenas that they are. Just kidding. 'cause you're doing the hunting right. They're just getting a percent. I'm just kidding they. They're they're whatever hunt you hunt and kill with your you know creative with your manager. Agent that manager agent is getting ten percent fifteen percent so or whatever so that i think the correlation is that amc is for the investor. It's the biggest bet. It's the biggest by. You're going to get the biggest chunk. Your tiny chunk is going to be a bigger chunk whereas if it's small investors then the junk is going to be smaller because the total is smaller. So i think that that's why we see this across all things in business where you know i. I am surprised. Honestly that we haven't seen in all this an amazon decide to buy an amc yet or frankly not just low but that was the other thing that was interesting in. This is like only two hundred and thirty million dollars like there's movies that cost two hundred thirty million dollars like this is too small potatoes for amazon. To care about like amazon's only ever bought two or three things ever and they're all in the billions of dollars range and mike. This is like why doesn't apple. Let's let's like. I wonder aloud. Why just say like hey you know what. Let's by all the movie theater like everywhere like why not right now would be the perfect time to just be like we own movie theaters like if you see a movie theater. You're seeing in an apple theater. Theory i wanna hear it. I'm curious dying model. No because that's no. I don't think i think that anybody. I don't think it's dying model. My grand children will still see movies in theaters. Like what's coming. The only be like one hundred people left on earth. But i think they'll still fire up the movie theater on friday nights. No i mean apple's not buying movie theaters because aesthetically. They're not interested in them. If every movie theatre had been built most in years and all had glass stairways the vast majority of them. They all like spaceships. Yeah the ugliest ones are the most revenue beneficial. The beautiful ones are still not apple. Beautiful right like be addiction. The are still like not anything. Apple is interest the end but then why does it networks netflix's basically in crazy debt. But don't you feel like net flicks would be a really interesting like we own the mood. The we are movies. It's part of our brand like it would be cool if netflix defined its friend beyond just we have a bunch of nasr really in their name though. Yeah yeah that's literally. But then i was on was known for like i'm sorry county just but but the that's true but then the thing with amazon to me. That's amazing is. They started opening bookstores because they were born to destroy the bookstore. None of.