Resident Evil's PS5 Demo and Hitman 3 Wow Us - Beyond Episode 685

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Automatic TRANSCRIPT

And whether you've spent the last week buying stock in game stop and probably getting extraordinarily rich very quickly or being very bad in hitman. Which is how. I've spent the last week Hopefully you've had a good time since our last episode. We have quite a bit to talk about both including the games. We'd been playing some of the news around them and thankfully some questions from all of you at home before we do that though. I'm joined this week by brian. Altana who me you. Yes you lucy. O'brien as well. If i knew anything about the stock market i would be rich by now. Even those who know a lot about the stock market aren't rich though to be fair sometimes makes me. Yeah and of course. We're also joined this week by max scoville but two things about business and stocks never any chance that it will be bad invest in a brick and mortar retail space or physical media. What could go wrong. I'm going to invest in video game magazines house game produce in these days. I think i might might take stock in them. Yeah it's it's i. I read an article from game pro the other day. Are they still around yet. They're they're i think they're they're like a european site now and i don't know if there's to the magazine we saw but i had this like weird like you know balancing bears thing where you're like was this was. This was your that. I forget this. I should know this was watching shows or cousin. It's a strange time for. Yeah i like. I've seen a lot of discussion. Obviously we won't talk too much about a business because let's face it. We're all pretty much. Vincent adult men and women here but I i it is just such a bizarre story to see right now. Going on with for those who don't know a a reddit group of people who watched the stock market and like to talk about making decisions you know. They're not all working together as one hive. Mind they all talk about. What's going on a bunch of them of bought stock and game. Stop to basically kind of been. Trolling wall street And suddenly all these big walmart xers. Excuse me wall street. Investors have had to kind of look at this sweat reddit thread and understand what the hell's going on. It's very strange. And if this is how game stop falls. I would never have called that in a million years honestly i. I love that. They used an app called for this. Like when i first saw that name. I was like you guys. Don't get to be that. And then i was like. Oh yeah a bunch of kids robbed from the rich. This berquin as you say. It's such a weird thing. His like pre pandemic game stop. Put all its chips into brick and mortar experiences. Right like that's how they were going to kind of re assess their business model is do this whole like you know. It's going to be a social space. He can go in and play will the old consoles the classic games and stuff and then they get and that still didn't kill them you are this is. This is something of a delightful surprise. That was literally weeks before the pandemic hint like they were talking about those revisions a little bit in two thousand nineteen. But i think they were really going to make that concerted effort like in twenty twenty. It was kind of going to be that first few months they are really going to get off the ground and that didn't happen but yeah we're in this weird place where they're still around and there. They are now one of the biggest topics on wall street but not for the reasons. They probably would hope yet. We we were getting messages in listener mail from like know regional managers being like. Hey we're all ready for like we all got briefed on the couch. Show up in the sack bowls in whatever. Always you know for your dirty hands in twenty twenty and that didn't materialize. But i think that video games did so well and are continuing to do so well because their windows the outside world also were depressed and bored. The we can't go anywhere. And that i think even game stop was like we can get in on this and they just kept going plus the next gen. Consoles did okay. This was explained to maximize a meeting this morning. And i will paraphrase in completely screwed up. Basically a bunch of investor types bought in max. Please help me out here. I want to city dude. I had a doctor's appointment. I've no idea what's going through. Mckim former news team worked on a great report about this of screws with to he. It's the tease at the not the exit. You're looking for your it's He spoke to a few people on the red. At sub reddit called slash a wall street bets were essentially day traders. Who do this as a hobby. These aren't people who are heavily. There's a wide range of interest in the stock markets but essentially The game stop stock. Price continued to go up and up and up and obviously people on wall street. Were very confused and what it seems to be is there is something called short-selling and i'm looking up the the full Definition here just make mispronouncing this. Because i don't have a business degree But essentially people investors began to short sell the company which is a strategy were an investor borrow stock of particular company. In this case game stop sells it in the hopes that prices for the stock will continue to drop and if that happens they can buy back the stock for even cheaper and keep the differences of profit but instead of going down the prices have been going up which is essentially screwing over the short seller's. Who thought they were being savvy with how they were. You know buying until engage stop stock and it's due to these people in the sub reddit. There's they were apparently short-selling when a bad news started to trickle in a while back about game stops next. Move and their annual financials and stuff like that. But outside of this being being very hilarious gamified. There's also that you know that next layer of some tax which is like this is a. This is a store predicated on pie. And selling us things ripping people off for the most part We've said good things about them on the show. I'm glad they exist. But this this is very just holy funny on a large scale like we were reading There were tweets from some kid who was like there was like an investor guy being like. Oh this this. I listened to this kind of valor at being like. I stole my brothers. robin hood a cow and made fifteen thousand dollars in like ten minutes. And like all these all these people just like. What's happening and i was saying reminds me of that scene in die hard with a vengeance for like the kids steals from the store. Europe's for me. It was like my mind to be illegal trading places and just Yeah those guys going nuts when they do. Yeah yeah it was orange juice right and yet it's just they explore the you know they exploited a flaw in this in this system and it's wild.

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