Not Investment Advice 266: GameStop x eBay (?), Zoom’s Anthropic Stake, Spirit Airlines Shuts Down & Amazon Logistics
May 6, 2026
Discussion of a curious GameStop and eBay tie-up and why its financing and scale raise eyebrows. A dive into Zoom’s Anthropic stake and how small equity moves can sway stock chatter. Reaction to Spirit Airlines’ shutdown and the economics that doom budget carriers. A look at Amazon opening logistics to merchants and how its long-term asset plays reshape shipping.
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Why GameStop's eBay Offer Doesn't Add Up
- GameStop's proposed half-cash, half-stock offer to buy eBay is financially implausible given GameStop's ~$9B cash and ~$400M EBITDA.
- Issuing ~1B new shares would heavily dilute existing holders and likely crash the current meme-driven price, per Bilal Zaidi's breakdown.
Collectibles Make the GameStop eBay Idea Logical
- The bull case for a GameStop-eBay tie is a strategic overlap in secondary markets like collectibles and Pokemon trading cards driving volume.
- Bilal notes both platforms benefit from resurging collectibles demand, which could make a business tie sensible despite financing hurdles.
We Upgraded Zoom Live And Saw A Dark Pattern
- Jack Butcher upgraded Zoom live on the podcast and mocked the dark-pattern annual billing options while the hosts riffed on upsells.
- The team demonstrated how Zoom defaults and pricing nudges push users toward annual commitments during the call.