If your friends and family are wondering why you’re buying $GME @ $300, maybe you can explain it to them like this:
There’s a rich kid in town. Let’s call him Melvin. He thinks he’s really smart. He finds a coupon for $5 off the new Nintendo Switch during the holidays with no limit on number of units. This is easy. I’ll go ahead and sell the Switch now for $200 and then buy it for $195 with the coupon. Easiest $5 I’ll ever make. He goes and tells all his parents’ friends at the Citadel Country Club that he can get them the new Nintendo Switch for their kids. He collects $200 each from 200 parents. He now has $40K and will use that money to purchase Nintendo Switches for $39K. He’ll have earned $1K in just a few hours. His parents will be so proud.
There’s another kid watching Melvin this entire time. Let’s call him Keith. Keith doesn’t like Melvin. Keith is good friends with the guys over at Gamestop. He finds out that there are were only 100 new Switches shipped to the entire country. Keith and his 99 friends buy all 100 Nintendo Switches on the spot.
Later in the day, Melvin goes to Gamestop with his $5 off coupon and says, “I’ll take 200 Nintendo Switches please.” Gamestop guy looks at him and says, “Sorry, we’re all sold out.” Melvin goes to the next Gamestop. Same story. All sold out. He goes to all the Gamestops in the city and can’t find a single Switch. He won’t be able to fulfill the orders.
Meanwhile, Keith is telling all his friends about what Melvin promised the members at the Country Club. Nobody sell him the Nintendo Switch that you bought, no matter how much he offers you. Nobody likes Melvin, so everybody holds on to their Nintendo Switch.
Melvin is in trouble. His parents rich friends are all asking when they are getting their Nintendo Switch. Melvins parents are angry, but they don’t want to lose their standing in the Citadel Country Club. They have to help Melvin gets 200 Nintendo Switches.
The price of Nintendo Switches in the city skyrockets. Melvin’s parents were able to get a few units from Keith’s friends, but they had to pay really inflated prices for them, first $1,000, then $2,000, now $3,000. It’s nearing Christmas, and every rich parent at the Country Club is desperate for the Nintendo Switch they promised their kids. They can’t trust that Melvin will be able to get them one. They all start bidding against each other for Switches. Everybody in town is in on the action now. Everybody wants to get a Nintendo Switch to sell at the country club for $10,000. Meanwhile, Keith and his friends are just hanging out and playing Animal Crossing.
20 Replies to “Another Explanation of the GameStop Phenomenon”
Just how does one make money from blogs? How does one start it or go about it? Is there a specific way to do it? Just how does one make money from blogs in the first place? Where does one get started in this? Do you have to advertise and use your credit card? Are there any certain kinds of rules you have to follow? Do you have to set the blog up yourself or are there ones that help you set up it up? How do you get advertisers on your blog? Are people limited to the number of blogs online? How often do you get paid?. . Thanks for the help!.
I am not interested in making money here so I cannot answer your question. My commercial website does pay for itself by posting links to various businesses though.
What are good blog posts for a writer who wants to start a blog that even non-readers might want to visit?
Gee, I do not know. This is my first attempt at blogging and only been at it 4 1/2 months.
Hi there would you mind letting me know which web host you’re utilizing? I’ve loaded your blog in 3 completely different web browsers and I must say this blog loads a lot faster then most. Can you suggest a good internet hosting provider at a reasonable price? Many thanks, I appreciate it!
I use ionos.com. Used to be called 1and1.com. But they are not cheap any more.
How blatant does Wall Street corruption have to be before anything gets done? Is there even anything anyone can do at this point?
In general, political change requires one or more individuals with the backbone and reach to convince others to do so. In our current situation, such is difficult to find. So many of those in power are driven by their own selfish greed. Others are gutless ninnies. If the people rise up and keep such behavior alive, maybe we can get those “in charge” to move. But don’t hold your breath.
Rich people (most of them) got that way because they were greedy.
How do I start website for the sole purpose of redirecting people to another website?
Assemble a large group of interesting links. If you go to lifesmith.com/hotlinks.html , you will find a large collection of them…
I really love to write and I’m pretty good at it. But whenever I try to write a story or something I start off good but always end up throwing it away–I can never seem to finish it. . . Sometimes I have a good idea that I really like but it’s just hard for me to write a story about and keep going. I like creative writing, but now I’ve almost given up because I can’t even write a short story. HELP!!! What should I do?. Any good creative writing websites to help me get started? Books?. I’m DESPERATE!!.
Part of good creative writing is planning. Oh sure, there is a style that says “Just write,” but most writers have, in their mind, knowledge of exactly where the story will go. Some use outlines as a skeleton and then flesh out the plot by adding more pieces to the outline, weaving a plot and its characters in and out as needed. Each develops their own method, but that is how I was taught to write longer stories, etc. As far as writing your basic five- or six-paragraph essay goes, there are many instructive websites on the net that can help you.
Great site. A lot of useful info here. Im sending it to some friends ans also sharing in delicious. And obviously, thanks for your effort!
You are very welcome.
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