1
00:00:00,001 --> 00:00:03,004
[ethereal music playing]

2
00:00:41,480 --> 00:00:43,899
[man 1] So, I'm here.

3
00:00:43,983 --> 00:00:48,070
{\an8}- And, I do not see anything happening.
- [man 2 on speaker] <i>Right.</i>

4
00:00:48,153 --> 00:00:49,905
{\an8}- <i>Right.</i>
- At all.

5
00:00:49,989 --> 00:00:50,990
<i>Look, I'm very sorry, sir.</i>

6
00:00:51,073 --> 00:00:54,201
Guess what I'm trying to understand is,
what is the reason for this delay exactly?

7
00:00:54,284 --> 00:00:56,412
<i>- Yeah. Mr. Plotkin, I'm so sorry.</i>
- Specifically.

8
00:00:56,495 --> 00:00:59,915
- <i>But it's just that when we set out...</i>
- Yeah, we closed in November.

9
00:00:59,999 --> 00:01:02,334
We had the permit applications in
before the end of the year.

10
00:01:02,418 --> 00:01:04,003
<i>Once we get the final stamp of approval...</i>

11
00:01:04,086 --> 00:01:05,462
We can't get the trucks here early?

12
00:01:05,546 --> 00:01:07,089
- Get 'em started.
<i>- Miami Beach ordinances</i>

13
00:01:07,172 --> 00:01:08,757
- <i>won't let me do that.</i>
- Is anyone actually

14
00:01:08,841 --> 00:01:10,926
- enforcing those regulations?
- <i>Look, Mr. Plotkin,</i>

15
00:01:11,010 --> 00:01:12,469
<i>I know you're eager to move in. Okay.</i>

16
00:01:12,553 --> 00:01:14,763
<i>Once we get the stamp of approval,</i>
y <i>ou'll be the first...</i>

17
00:01:14,847 --> 00:01:16,849
- One second.
<i>- Sure.</i>

18
00:01:17,349 --> 00:01:18,434
{\an8}Hello?

19
00:01:18,517 --> 00:01:20,019
{\an8}[man groaning]

20
00:01:20,102 --> 00:01:23,272
{\an8}[groans] You see what's going on at GME?

21
00:01:23,355 --> 00:01:24,898
{\an8}[Gabe] <i>There's more of these idiots?</i>

22
00:01:24,982 --> 00:01:27,860
<i>...the short sellers, now they're getting
creamed by the little guy...</i>

23
00:01:27,943 --> 00:01:29,028
A lot more.

24
00:01:29,111 --> 00:01:30,571
[Gabe] <i>They won't hold much longer.</i>

25
00:01:30,654 --> 00:01:31,697
Go away.

26
00:01:32,573 --> 00:01:34,825
Oh, Gabe, honey, they're holding.

27
00:01:35,826 --> 00:01:37,995
<i>It just crossed a hundred.</i>

28
00:01:38,078 --> 00:01:40,331
<i>Gabe, where are you?</i>

29
00:01:40,414 --> 00:01:41,498
Fuck!

30
00:01:41,582 --> 00:01:43,292
<i>You should probably dial in.</i>

31
00:01:43,375 --> 00:01:44,585
Yeah, be on in one sec.

32
00:01:44,668 --> 00:01:46,253
["WAP" playing]

33
00:01:46,337 --> 00:01:48,839
<i>♪ There's some whores in this house ♪</i>

34
00:01:48,922 --> 00:01:51,258
<i>- ♪ I said, certified freak ♪
- ♪ Hold up! ♪</i>

35
00:01:51,342 --> 00:01:53,177
<i>♪ Seven days a week ♪</i>

36
00:01:53,260 --> 00:01:56,513
<i>♪ Wet-ass pussy
Make that pull-out game weak ♪</i>

37
00:01:56,597 --> 00:01:59,266
<i>- ♪ Whoo! Yeah, yeah ♪
- ♪ There's some whores in this house ♪</i>

38
00:01:59,350 --> 00:02:01,643
<i>♪ Yeah, you fucking
With some wet-ass pussy... ♪</i>

39
00:02:01,727 --> 00:02:04,730
{\an8}<i>I will tell you I've never seen
anything like it. I'm concerned about it.</i>

40
00:02:04,813 --> 00:02:06,690
<i>I'm calling it the ultimate short squeeze.</i>

41
00:02:06,774 --> 00:02:08,984
{\an8}<i>You can lose money to infinity.</i>

42
00:02:09,068 --> 00:02:12,529
<i>It's very different, more highly leveraged
game on the other side.</i>

43
00:02:12,613 --> 00:02:13,822
<i>♪ Put this pussy... ♪</i>

44
00:02:13,906 --> 00:02:15,115
Holy fucking shit.

45
00:02:15,199 --> 00:02:16,200
<i>♪ Like a credit card... ♪</i>

46
00:02:16,283 --> 00:02:19,036
<i>Right now we're gonna talk about GameStop.
Those shares</i>

47
00:02:19,119 --> 00:02:22,247
- <i>are nonstop earning of about 130% today.</i>
- Holy fucking shit!

48
00:02:22,331 --> 00:02:23,957
- Holy shit!
<i>- What the...</i>

49
00:02:24,041 --> 00:02:25,209
...fuck!

50
00:02:25,292 --> 00:02:26,960
<i>♪ Let's role play, I'll wear a disguise ♪</i>

51
00:02:27,044 --> 00:02:29,713
<i>♪ I want you to park that big Mack truck
Right in this little garage ♪</i>

52
00:02:29,797 --> 00:02:30,881
- Holy shit.
- [song stops]

53
00:02:30,964 --> 00:02:32,633
- Yes. Hello?
- [man] <i>Great news, Mr. Plotkin.</i>

54
00:02:32,716 --> 00:02:34,676
<i>I think we'll be able to get you
into your new home</i>

55
00:02:34,760 --> 00:02:36,053
<i>sooner than I actually thought.</i>

56
00:02:36,136 --> 00:02:38,263
I think we're having
some sort of miscommunication here.

57
00:02:38,347 --> 00:02:39,890
I'm not trying to move into that house.

58
00:02:39,973 --> 00:02:42,601
I'm trying to tear that house down
so I can build a tennis court

59
00:02:42,684 --> 00:02:44,603
for me and my family to play
during the pandemic.

60
00:02:44,686 --> 00:02:46,021
I thought it would be very simple.

61
00:02:46,105 --> 00:02:48,232
Apparently, it isn't because
the pandemic is almost over

62
00:02:48,315 --> 00:02:51,110
and there's no tennis court.
Thank you for your time.

63
00:02:51,193 --> 00:02:52,861
Yes, what? Hello?

64
00:02:52,945 --> 00:02:55,697
Hi, it's Ken Griffin.

65
00:03:01,245 --> 00:03:03,247
Hi there, Ken, how are you?
Great to hear from you.

66
00:03:04,748 --> 00:03:05,833
Do you have a minute?

67
00:03:05,916 --> 00:03:07,793
[call waiting beeping]

68
00:03:07,876 --> 00:03:08,961
I, uh...

69
00:03:09,628 --> 00:03:10,462
Um...

70
00:03:10,546 --> 00:03:13,048
{\an8}<i>I gotta call you right back.
If that's okay. I'm so sorry.</i>

71
00:03:14,258 --> 00:03:15,592
- Sure.
- <i>Okay, great.</i>

72
00:03:17,136 --> 00:03:18,720
Hi. What's happening right now?

73
00:03:18,804 --> 00:03:21,223
It looks like there's one guy
driving all the buying.

74
00:03:21,306 --> 00:03:22,558
What... What... What guy?

75
00:03:22,641 --> 00:03:23,642
["WAP" resumes]

76
00:03:23,725 --> 00:03:26,019
[Steve]
<i>I believe his name is "Roaring Kitty."</i>

77
00:03:26,103 --> 00:03:27,563
<i>♪ There's some whores in this house ♪</i>

78
00:03:27,646 --> 00:03:29,982
<i>♪ Yeah, you fucking
With some wet-ass pussy... ♪</i>

79
00:03:30,065 --> 00:03:31,316
[Steve] <i>Oh, wait, or...</i>

80
00:03:31,400 --> 00:03:33,110
<i>♪ This wet-ass pussy... ♪</i>

81
00:03:33,193 --> 00:03:35,028
[Steve] <i>"Deep Fucking Value."</i>

82
00:03:35,112 --> 00:03:37,656
[Gabe] <i>"Roaring Kitty"
or "Deep Fucking Value." What?</i>

83
00:03:38,615 --> 00:03:41,743
He's "Roaring Kitty" on YouTube
and "Deep Fucking Value" on Reddit.

84
00:03:41,827 --> 00:03:44,288
[Gabe] <i>Both? He couldn't pick one name?</i>

85
00:03:44,371 --> 00:03:46,039
[Steve] I don't know. I love this guy.

86
00:03:46,123 --> 00:03:47,791
<i>♪ That's some wet-ass pussy ♪</i>

87
00:03:47,875 --> 00:03:49,626
<i>♪ Macaroni in a pot ♪</i>

88
00:03:49,710 --> 00:03:51,253
<i>♪ That's some wet-ass pussy ♪</i>

89
00:03:51,336 --> 00:03:53,213
<i>- ♪ Ha ♪
- ♪ There's some whores in this house... ♪</i>

90
00:03:53,297 --> 00:03:54,590
Who is this schmuck?

91
00:03:54,673 --> 00:03:56,467
[Steve]
<i>I don't know, but I think I just came.</i>

92
00:03:56,550 --> 00:03:57,384
[song stops]

93
00:03:58,010 --> 00:03:59,219
[cash register chimes]

94
00:04:00,637 --> 00:04:03,640
[pensive music playing]

95
00:04:22,534 --> 00:04:24,536
[man speaking indistinctly over PA]

96
00:05:00,155 --> 00:05:02,157
[music fades]

97
00:05:02,241 --> 00:05:04,451
- Uh, Ruby... Ruby, right?
- Yeah.

98
00:05:04,535 --> 00:05:07,329
- Can I get a couple of Heinies, please?
- Uh, one. Sorry, uh...

99
00:05:07,913 --> 00:05:10,165
- I'm gonna have a...
- What? What's wrong with a Heinie?

100
00:05:10,249 --> 00:05:11,667
Drinking it since we were 17!

101
00:05:11,750 --> 00:05:13,752
Hey, drink what you like. No judgment.

102
00:05:13,835 --> 00:05:15,420
Uh, you have a Hamm's?

103
00:05:15,504 --> 00:05:18,006
- I'll have one of those.
- The fuck did you just order?

104
00:05:18,090 --> 00:05:20,884
Oh, it's a nice one outta Milwaukee.
Good quality.

105
00:05:20,968 --> 00:05:23,762
- Fifty cents a can before markup.
- C'mon, Kitty. Forget about price.

106
00:05:23,845 --> 00:05:25,055
Get him a Heineken, thank you.

107
00:05:25,138 --> 00:05:26,515
- It's on me.
- Thanks, man.

108
00:05:26,598 --> 00:05:29,226
Thank you, that's nice.
I'll have a Hamm's.

109
00:05:29,309 --> 00:05:30,852
So, a Heineken and a Hamm's?

110
00:05:30,936 --> 00:05:31,979
Thank you.

111
00:05:32,062 --> 00:05:33,188
Please.

112
00:05:33,272 --> 00:05:34,523
Thank you, Ruby.

113
00:05:34,606 --> 00:05:36,608
[people chattering indistinctly]

114
00:05:40,153 --> 00:05:41,154
How you been, man?

115
00:05:41,238 --> 00:05:43,282
The whole Sara thing.

116
00:05:43,365 --> 00:05:46,493
Oh, yeah. Okay, uh...

117
00:05:46,576 --> 00:05:47,953
Up and down.

118
00:05:48,537 --> 00:05:49,663
Yeah.

119
00:05:51,206 --> 00:05:53,000
- How's your asshole brother?
- Still an asshole.

120
00:05:53,083 --> 00:05:54,751
- Okay.
- Yeah.

121
00:05:55,335 --> 00:05:56,962
- Keeping busy at least?
- Uh...

122
00:05:57,045 --> 00:06:00,090
Got the day job at MassMutual.
Working on my portfolio.

123
00:06:00,173 --> 00:06:02,509
That's the last thing you should be
worrying about right now.

124
00:06:03,010 --> 00:06:04,970
Why? It's a... It's a good distraction.

125
00:06:05,053 --> 00:06:06,305
Lemme take that over for you.

126
00:06:06,388 --> 00:06:07,889
We got thousands of analysts at B of A

127
00:06:07,973 --> 00:06:10,309
- that do just this. C'mon, Kitty.
- All good, man. Thank you.

128
00:06:10,392 --> 00:06:11,852
You should be focused on your family,

129
00:06:11,935 --> 00:06:13,395
not fucking around with penny stocks.

130
00:06:13,478 --> 00:06:16,106
They're not all penny stocks.
GameStop isn't a penny stock.

131
00:06:16,189 --> 00:06:17,607
GameStop?

132
00:06:17,691 --> 00:06:19,067
- Dude...
- You used to love GameStop!

133
00:06:19,151 --> 00:06:22,237
- Yeah, then I grew up.
- Well, I think it's undervalued.

134
00:06:22,821 --> 00:06:24,823
I just sold off a bunch of other shit
to double down.

135
00:06:24,906 --> 00:06:26,783
How much are we talking? A grand?

136
00:06:26,867 --> 00:06:27,909
- Fifty.
- Bucks?

137
00:06:27,993 --> 00:06:29,036
Grand.

138
00:06:29,119 --> 00:06:30,162
Fifty-three grand.

139
00:06:30,245 --> 00:06:32,122
[laughs] Yeah.

140
00:06:36,752 --> 00:06:37,669
Kitty...

141
00:06:39,546 --> 00:06:41,798
- You don't even own a house.
- It's got short interest,

142
00:06:41,882 --> 00:06:43,634
which is artificially pushing
the price down.

143
00:06:43,717 --> 00:06:47,471
- Bro, you never bet against Wall Street!
- Wall Street gets it wrong all the time.

144
00:06:47,554 --> 00:06:49,014
- Look at '08.
- That was a one-off.

145
00:06:49,097 --> 00:06:50,474
These guys, they have all the money

146
00:06:50,557 --> 00:06:52,601
and the fancy degrees
and the political juice,

147
00:06:52,684 --> 00:06:54,811
- and get it wrong.
- Are you out of your mind?

148
00:06:54,895 --> 00:06:57,606
They've got the advantage,
and they still get it wrong.

149
00:06:59,232 --> 00:07:01,777
No, gimme that, I'm drinking it.
Even if it's 50 cents.

150
00:07:01,860 --> 00:07:02,861
It's four bucks.

151
00:07:02,944 --> 00:07:04,946
Well, my man just spent 53K
on a penny stock.

152
00:07:05,030 --> 00:07:06,823
So, all he can afford is water.

153
00:07:06,907 --> 00:07:09,326
- You're a Wall Street guy?
- Very much no.

154
00:07:09,409 --> 00:07:10,869
I'm a Wall Street guy.

155
00:07:10,952 --> 00:07:12,371
What was the stock?

156
00:07:13,622 --> 00:07:14,706
GameStop.

157
00:07:16,083 --> 00:07:17,417
The video game store. At the mall.

158
00:07:17,501 --> 00:07:21,004
- You really bought $53,000 of it?
- Yeah, I don't believe it.

159
00:07:21,088 --> 00:07:23,173
He's fucking with us.
You're fucking with us, right?

160
00:07:23,256 --> 00:07:24,883
You don't even have 50 grand.

161
00:07:24,966 --> 00:07:26,051
Let's see.

162
00:07:28,470 --> 00:07:29,596
{\an8}[Ruby] Oh, shit.

163
00:07:31,598 --> 00:07:33,517
How are you falling for this?

164
00:07:33,600 --> 00:07:35,977
He won't spend five bucks for a beer,

165
00:07:36,061 --> 00:07:39,398
but he'll put 50K in a stock
that you think is a joke.

166
00:07:39,481 --> 00:07:40,982
And that's interesting to you?

167
00:07:41,858 --> 00:07:42,943
Yeah.

168
00:07:44,152 --> 00:07:45,278
It is.

169
00:07:51,243 --> 00:07:52,828
Drink your shitty beer.

170
00:07:52,911 --> 00:07:55,914
{\an8}[pensive music playing]

171
00:08:00,669 --> 00:08:02,212
[door opens]

172
00:08:02,295 --> 00:08:03,255
[Keith] Hey!

173
00:08:03,338 --> 00:08:04,381
[woman] Hey!

174
00:08:06,800 --> 00:08:08,343
Bedtime's already done?

175
00:08:08,427 --> 00:08:11,722
Yeah, she was exhausted.
She skipped her nap.

176
00:08:13,515 --> 00:08:15,058
- How was Briggsy?
- Uh...

177
00:08:15,142 --> 00:08:16,518
Good. Yeah.

178
00:08:20,147 --> 00:08:21,857
[faucet running]

179
00:08:24,818 --> 00:08:26,570
You guys talk about Sara?

180
00:08:28,488 --> 00:08:29,448
[Keith] Uh...

181
00:08:32,993 --> 00:08:34,661
Do you wanna sit down a minute?

182
00:08:34,745 --> 00:08:36,830
I'll feel better if I finish these first.

183
00:08:36,913 --> 00:08:37,789
[music fades]

184
00:08:37,873 --> 00:08:40,041
[Caroline] No, you won't.

185
00:09:05,442 --> 00:09:06,443
Do you think I'm insane?

186
00:09:06,526 --> 00:09:07,778
Yeah.

187
00:09:09,070 --> 00:09:10,697
Sorry. About what?

188
00:09:11,865 --> 00:09:12,991
GameStop.

189
00:09:13,074 --> 00:09:15,744
The most compelling
asymmetric opportunity in the market?

190
00:09:17,871 --> 00:09:20,165
- What, did Briggsy make you jumpy?
- A little.

191
00:09:20,248 --> 00:09:22,292
- What was his argument?
- He didn't have one.

192
00:09:22,375 --> 00:09:24,878
- Well.
- He just said it was a reckless bet.

193
00:09:24,961 --> 00:09:27,255
He said "you're putting your money
in the next Blockbuster."

194
00:09:27,339 --> 00:09:28,173
Enough. Fuck Briggsy.

195
00:09:28,256 --> 00:09:31,927
You literally know more about
this damn company than you know about me.

196
00:09:32,010 --> 00:09:32,928
It's true.

197
00:09:33,011 --> 00:09:35,931
And because of you, I know more about
this company than I know about myself.

198
00:09:36,014 --> 00:09:39,726
But what if I'm missing something?
We can't afford to miss something.

199
00:09:41,061 --> 00:09:42,813
It's all our savings.

200
00:09:43,522 --> 00:09:44,689
Go do a video.

201
00:09:45,982 --> 00:09:47,818
I can finish these first. I'm happy to...

202
00:09:47,901 --> 00:09:49,945
Go see what the nerds have to say.

203
00:09:50,028 --> 00:09:52,614
Our Wall Street Bets people
aren't nerds, Caroline.

204
00:09:52,697 --> 00:09:55,116
They're gangsters.
You make a dumb case and post it,

205
00:09:55,200 --> 00:09:57,536
- they'll rip you apart.
- Well, then don't make a dumb case.

206
00:09:59,996 --> 00:10:02,624
[tense, pensive music playing]

207
00:10:16,680 --> 00:10:18,181
Okay, let's see what's new.

208
00:10:21,142 --> 00:10:23,186
Oh, there's a share. Okay, here we go.

209
00:10:26,106 --> 00:10:27,399
Oh, shit.

210
00:10:50,755 --> 00:10:52,215
All right...

211
00:10:53,008 --> 00:10:55,594
Just check on... See here.

212
00:11:05,895 --> 00:11:08,648
Yo, what up, everybody?
Roaring Kitty here.

213
00:11:08,732 --> 00:11:11,776
Uh, I've done a few of these now,
mostly on my investing methodology.

214
00:11:11,860 --> 00:11:14,613
Uh, but today I'm gonna try something
a little different.

215
00:11:14,696 --> 00:11:18,033
I appreciate the feedback
you guys have been leaving me by the way.

216
00:11:18,116 --> 00:11:21,703
Uh... Oh! More feedback comin' in hot.

217
00:11:21,786 --> 00:11:25,498
"Less cats." Okay. Great.

218
00:11:25,582 --> 00:11:29,127
Ah, like I was saying...
Uh, what was I saying?

219
00:11:29,210 --> 00:11:30,086
Ah, I'm gonna try...

220
00:11:30,170 --> 00:11:32,297
Oh, and here's one from Ballz.

221
00:11:32,380 --> 00:11:33,798
"Nerd."

222
00:11:33,882 --> 00:11:35,800
And nerd is in all capitals.

223
00:11:35,884 --> 00:11:39,846
Like, okay, that's kinda mean.
But okay, fair.

224
00:11:39,929 --> 00:11:40,930
Uh...

225
00:11:41,014 --> 00:11:42,932
"Nice shirt, Grandpa"?

226
00:11:43,016 --> 00:11:46,227
What? How old do you think I am?

227
00:11:46,311 --> 00:11:47,187
You know what?

228
00:11:47,270 --> 00:11:50,315
Thanks for the comments.
We're gonna come back to them at the end.

229
00:11:50,398 --> 00:11:51,608
Here's what I wanna talk about.

230
00:11:52,400 --> 00:11:55,737
Uh, I'm gonna pick a stock and
talk about why I think it's interesting.

231
00:11:55,820 --> 00:11:57,697
And that stock is...

232
00:11:59,115 --> 00:12:01,117
GameStop. Uh...

233
00:12:01,910 --> 00:12:03,286
I know it's a polarizing stock

234
00:12:03,370 --> 00:12:05,789
and some of you probably gonna
tune out of the stream right now

235
00:12:05,872 --> 00:12:08,291
when you hear I'm bullish on GameStop.
But I am.

236
00:12:08,375 --> 00:12:12,379
You can see it is now the biggest position
by far in the Roaring Kitty portfolio.

237
00:12:12,462 --> 00:12:13,296
So...

238
00:12:13,380 --> 00:12:16,341
yeah, I think everyone else is crazy,
and I think I'm right.

239
00:12:16,424 --> 00:12:20,887
But I've been wrong plenty of times
in the past. So, uh...

240
00:12:20,970 --> 00:12:24,432
<i>So, there are a lot of aspects to this
bold thesis, a lot of moving parts,</i>

241
00:12:24,516 --> 00:12:26,935
<i>but I boil it down
to what I consider the three overs:</i>

242
00:12:27,018 --> 00:12:29,270
The digital risks seem to me
to be overblown,

243
00:12:29,354 --> 00:12:30,730
the negative sentiment is overdone,

244
00:12:30,814 --> 00:12:32,482
you can see it
with the huge short interest,

245
00:12:32,565 --> 00:12:34,401
and the value is overlooked.

246
00:12:34,484 --> 00:12:36,569
Wall Street just doesn't see it.

247
00:12:37,195 --> 00:12:38,363
Why?

248
00:12:38,446 --> 00:12:41,616
Mr. Market, why?

249
00:12:42,367 --> 00:12:45,120
<i>The hedge funds are overlooking
the value in the company</i>

250
00:12:45,203 --> 00:12:47,831
<i>just like they overlook
the people who shop there.</i>

251
00:12:47,914 --> 00:12:50,542
<i>They assume most people download
games online now.</i>

252
00:12:50,625 --> 00:12:54,879
{\an8}<i>But look, 25% of gamers
still buy new discs from GameStop,</i>

253
00:12:54,963 --> 00:12:57,924
<i>and 40% buy used games from the store.</i>

254
00:12:58,007 --> 00:12:59,884
<i>And the market's kinda forced
my hand here.</i>

255
00:12:59,968 --> 00:13:02,846
<i>What more can I say?
I just like the stock.</i>

256
00:13:02,929 --> 00:13:03,930
[man yells] Hey!

257
00:13:04,639 --> 00:13:06,057
Shit!

258
00:13:07,100 --> 00:13:08,768
- Did I wake you?
- [Chris] Please stop.

259
00:13:08,852 --> 00:13:11,646
Mr. Donaldson, I need you in your bed.

260
00:13:11,730 --> 00:13:13,648
Kerin, can you please
make sure Mr. Donaldson...

261
00:13:13,732 --> 00:13:16,109
[Donaldson] I don't need to go to bed.
I need a cup of coffee.

262
00:13:16,192 --> 00:13:18,987
We can get you a cup of coffee.
Kerin, coffee.

263
00:13:19,070 --> 00:13:20,155
[Chris] Oh!

264
00:13:20,780 --> 00:13:21,948
Well, isn't that beautiful?

265
00:13:22,532 --> 00:13:23,658
[Jenny] Oh, shit.

266
00:13:23,742 --> 00:13:24,993
[Chris laughs]

267
00:13:25,076 --> 00:13:29,873
"100% short GameStop stock (GME)"?

268
00:13:29,956 --> 00:13:31,249
It's an investment video.

269
00:13:31,332 --> 00:13:33,835
Hey, Jenny, for real,

270
00:13:33,918 --> 00:13:36,671
{\an8}I wouldn't take investment advice
from a guy in a cat shirt.

271
00:13:36,755 --> 00:13:39,299
Oh, okay.
Who do you take investment advice from?

272
00:13:39,382 --> 00:13:45,972
I don't have investments. And if I did,
I'd listen to, like, a banker.

273
00:13:46,055 --> 00:13:47,474
Just the way they like it.

274
00:13:47,557 --> 00:13:51,436
"They." [laughs] Oh boy. Here we go...

275
00:13:51,519 --> 00:13:52,604
Just never mind.

276
00:13:52,687 --> 00:13:54,064
No, no, no, please tell me.

277
00:13:54,147 --> 00:13:57,275
I'm dying to know what Luke Wilson
from <i>The Royal Tenenbaums</i>

278
00:13:57,358 --> 00:13:59,903
thinks we should do
with our $68,000 a year.

279
00:13:59,986 --> 00:14:01,029
Who from what?

280
00:14:01,112 --> 00:14:02,113
Ugly Björn Borg.

281
00:14:02,197 --> 00:14:03,281
{\an8}[Jenny] Okay, fine.

282
00:14:03,364 --> 00:14:06,201
{\an8}Wall Street is betting
that this company is gonna fail.

283
00:14:06,284 --> 00:14:07,786
It's called shorting.

284
00:14:07,869 --> 00:14:11,372
And if it fails, well,
then everybody loses their job,

285
00:14:11,456 --> 00:14:14,042
but these hedge fund assholes
make a shit ton of money.

286
00:14:14,125 --> 00:14:18,379
It's bullshit. It's a bullshit way
for rich people to get richer.

287
00:14:18,463 --> 00:14:20,048
How did you even find this guy?

288
00:14:20,131 --> 00:14:22,675
Seventy thousand people
have watched this video.

289
00:14:22,759 --> 00:14:25,095
He posts his balance sheets
and everything.

290
00:14:25,178 --> 00:14:26,930
Wall Street Bets is going crazy over this.

291
00:14:27,013 --> 00:14:29,057
- Who?
- It's an Internet forum.

292
00:14:29,140 --> 00:14:30,141
[Chris] Uh-huh.

293
00:14:30,934 --> 00:14:32,185
- On Reddit.
- Now, see. No, no.

294
00:14:32,268 --> 00:14:34,562
I'm not gonna do this.
The last time you brought up Reddit,

295
00:14:34,646 --> 00:14:37,315
it was just all these oil paintings
of Donald Trump on horseback.

296
00:14:37,398 --> 00:14:39,109
- You liked it.
- Detestable.

297
00:14:39,192 --> 00:14:41,778
- Look.
- Okay, yeah. Let's take a look.

298
00:14:41,861 --> 00:14:43,363
Um...

299
00:14:43,446 --> 00:14:45,824
"Shit's not a pump-and-dump

300
00:14:45,907 --> 00:14:49,202
if it never dumps, you fuckheads..."

301
00:14:49,285 --> 00:14:53,331
"Feed me your tears,
I use it as anal lube on your wives."

302
00:14:53,414 --> 00:14:54,457
Why did you go to that one?

303
00:14:54,541 --> 00:14:58,002
[Chris]
Oh! Oh! Oh! "Strap on ur theta dildo

304
00:14:58,086 --> 00:15:02,132
- n start pounding."
- Okay. Yes, that shit exists on here.

305
00:15:02,215 --> 00:15:05,927
But I also learned the difference between
a delta squeeze and a gamma squeeze.

306
00:15:06,010 --> 00:15:07,929
And now everyone
is talking about call options.

307
00:15:08,012 --> 00:15:11,474
Jenny, baby,
you're never gonna find a man on there.

308
00:15:11,558 --> 00:15:12,892
[sighs]

309
00:15:12,976 --> 00:15:15,145
And you're never gonna date Puff Daddy.

310
00:15:15,228 --> 00:15:17,564
First of all, no one has said Puff Daddy
since the '90s,

311
00:15:17,647 --> 00:15:19,941
and second of all, this isn't Puff Daddy.

312
00:15:20,733 --> 00:15:21,901
This is Loop Daddy.

313
00:15:22,819 --> 00:15:26,698
Okay, well, whatever Daddy he's called,
he's weird looking.

314
00:15:26,781 --> 00:15:29,450
Hey, well, my guy has, what,
five million TikTok followers.

315
00:15:29,534 --> 00:15:31,202
- How many does yours have?
- I don't know.

316
00:15:31,286 --> 00:15:33,955
Quick scroll. 412.

317
00:15:34,038 --> 00:15:36,291
- Who cares?
- The Internet at large.

318
00:15:36,374 --> 00:15:38,334
But hey. Least I aim high.

319
00:15:39,377 --> 00:15:41,254
- I aim high.
- [Chris laughs]

320
00:15:43,173 --> 00:15:46,176
["21" playing]

321
00:15:50,096 --> 00:15:53,349
<i>♪ 21 bands for the age of 21 ♪</i>

322
00:15:53,433 --> 00:15:56,728
<i>♪ I'mma flip the funds up
Then I cop the Chevy truck ♪</i>

323
00:15:56,811 --> 00:16:00,106
<i>♪ Buy her what she want
And you know she show me love ♪</i>

324
00:16:00,190 --> 00:16:03,067
<i>♪ Then I roll it up
Then I roll it up ♪</i>

325
00:16:03,151 --> 00:16:06,279
{\an8}<i>♪ Motherfuckers wanna hate me
And shame me ♪</i>

326
00:16:06,362 --> 00:16:09,490
<i>♪ Motherfuckers wanna drain me
Cobain me ♪</i>

327
00:16:09,574 --> 00:16:12,827
<i>♪ All these bitches trying to chain me
And blame me ♪</i>

328
00:16:12,911 --> 00:16:16,539
<i>♪ Motherfuckers wanna change me
And hate me ♪</i>

329
00:16:16,623 --> 00:16:19,125
[Keith on video]
<i>What up, everybody? Roaring Kitty here.</i>

330
00:16:19,209 --> 00:16:24,088
{\an8}<i>Yo! Yo! Yo! This price action,
gettin' kind of ridiculous, am I right?</i>

331
00:16:24,172 --> 00:16:26,633
<i>Let's see what happens.
See what happens at the end of the week.</i>

332
00:16:26,716 --> 00:16:28,885
<i>But it's all about
the trend staying intact.</i>

333
00:16:28,968 --> 00:16:30,678
<i>But this, this looks sick.</i>

334
00:16:31,554 --> 00:16:33,556
[wheels clacking]

335
00:16:34,182 --> 00:16:35,308
Morning, Marcos!

336
00:16:35,808 --> 00:16:38,770
[Marcos] Shit... Yo, what's... Hey, Brad.

337
00:16:45,985 --> 00:16:49,822
Yo, um, I was wondering
if could I get an advance on my pay?

338
00:16:50,448 --> 00:16:51,950
[Brad] I can run it up the chain,

339
00:16:52,033 --> 00:16:54,410
but with all the cutbacks,
that's unlikely.

340
00:16:55,495 --> 00:16:57,622
Oh, hey! You could do
the employee TikTok contest.

341
00:16:57,705 --> 00:17:00,083
You do a lip sync,
you can win 10 labor hours.

342
00:17:00,166 --> 00:17:01,793
[Marcos] Yeah, man, totally.

343
00:17:02,502 --> 00:17:05,463
That's dope. I was thinkin' "Savage."

344
00:17:06,839 --> 00:17:08,800
Yeah. Yeah, sure, I love it.

345
00:17:08,883 --> 00:17:11,261
Or yo, that Drake one with Lil Durk.

346
00:17:12,887 --> 00:17:14,097
That's a great one too.

347
00:17:14,180 --> 00:17:15,890
Because I know you love Lil Durk.

348
00:17:16,432 --> 00:17:17,350
- C'mon.
- [Brad scoffs]

349
00:17:17,433 --> 00:17:19,978
No, I'm gonna do Megan Thee Stallion.
For sure, for sure, for sure.

350
00:17:20,061 --> 00:17:21,020
<i>♪ I'm a savage ♪</i>

351
00:17:21,729 --> 00:17:24,023
<i>♪ Classy, bougie, ratchet ♪</i>

352
00:17:24,107 --> 00:17:26,734
<i>♪ Sassy, moody, nasty ♪</i>

353
00:17:26,818 --> 00:17:28,861
Okay, mask! Mask.

354
00:17:29,988 --> 00:17:31,281
Sorry.

355
00:17:31,364 --> 00:17:33,866
<i>♪ Acting stupid, what was happening? ♪</i>

356
00:17:34,450 --> 00:17:36,369
<i>♪ What's happening? I'm a savage ♪</i>

357
00:17:36,452 --> 00:17:39,580
Huh, A  man. You're a shoo-in
with moves like that.

358
00:17:39,664 --> 00:17:41,499
[Marcos]
Yo, you think so for real, though?

359
00:17:42,542 --> 00:17:43,543
That's sweet, real.

360
00:17:45,044 --> 00:17:46,212
Ten labor hours.

361
00:17:47,088 --> 00:17:48,548
Damn, it's like Christmas came early!

362
00:17:50,216 --> 00:17:51,718
I'm pullin' for ya!

363
00:17:51,801 --> 00:17:53,094
Thanks, man.

364
00:17:53,177 --> 00:17:55,388
["Savage" playing]

365
00:17:55,471 --> 00:17:56,514
<i>♪ I'm that bitch ♪</i>

366
00:17:56,597 --> 00:17:58,891
<i>♪ I'm that bitch
Hey ♪</i>

367
00:17:58,975 --> 00:18:02,061
<i>♪ I'm the hood Mona Lisa
Break a nigga into pieces ♪</i>

368
00:18:02,145 --> 00:18:05,023
<i>♪ Had to X some cheesy niggas
Out my circle like a pizza ♪</i>

369
00:18:05,106 --> 00:18:08,693
<i>♪ I'm way too exclusive
I don't shop on Insta' boutiques... ♪</i>

370
00:18:08,776 --> 00:18:11,029
<i>♪ ...only fit fake booties ♪</i>

371
00:18:11,112 --> 00:18:12,155
<i>♪ Fuck cash shit ♪</i>

372
00:18:12,238 --> 00:18:13,072
<i>♪ Talking cash shit ♪</i>

373
00:18:13,156 --> 00:18:15,241
<i>♪ Pussy like water
I'm unbothered and relaxing ♪</i>

374
00:18:15,325 --> 00:18:16,159
Mmm! Fries.

375
00:18:16,242 --> 00:18:18,828
<i>♪ I would never trip on a nigga
if I had him ♪</i>

376
00:18:18,911 --> 00:18:21,789
<i>♪ Bitch, that's my trash, you the maid
So, you bagged him ♪</i>

377
00:18:21,873 --> 00:18:25,126
<i>♪ I'm a savage
Classy, bougie, ratchet ♪</i>

378
00:18:25,209 --> 00:18:26,294
No, fuck!

379
00:18:26,377 --> 00:18:28,087
<i>♪ Sassy, moody, nasty... ♪</i>

380
00:18:28,171 --> 00:18:29,088
God!

381
00:18:29,172 --> 00:18:31,257
Goddamn it! Fuck!

382
00:18:31,341 --> 00:18:34,218
But first, cheers! Cheers, everybody.

383
00:18:34,302 --> 00:18:37,347
I mean, look. I know we still got
a lot of bear takes out there.

384
00:18:37,430 --> 00:18:39,265
But as I dive deeper and deeper
into this thing,

385
00:18:39,349 --> 00:18:41,142
it's looking increasingly
compelling to me.

386
00:18:41,225 --> 00:18:44,437
And then you got the huge short interest.
Now, I'm not betting on a short squeeze.

387
00:18:44,520 --> 00:18:46,272
I've been saying that the whole time.

388
00:18:46,356 --> 00:18:48,274
Thesis is grounded in fundamentals,
but I'm not...

389
00:18:48,358 --> 00:18:49,776
But to... I mean, today, I'm...

390
00:18:49,859 --> 00:18:51,611
It's starting to feel
a little squeezy, right?

391
00:18:51,694 --> 00:18:54,655
Starting to feel a little squeezy. Honk!
I mean, hello. Okay!

392
00:18:54,739 --> 00:18:56,866
All right, all right. I need a drink.
I need a drink.

393
00:18:59,285 --> 00:19:02,705
Now. A lot of you are accusing me
of talking a big game.

394
00:19:02,789 --> 00:19:03,873
- [Caroline] Keith?
- But...

395
00:19:03,956 --> 00:19:06,918
- [Caroline] Babe, where are you?
- Oh... Coming!

396
00:19:07,752 --> 00:19:10,338
Duh... I'm on Daddy duty tonight.
I'll be right back.

397
00:19:10,421 --> 00:19:11,839
["Stack It" playing]

398
00:19:11,923 --> 00:19:13,800
<i>♪ Stack it, pack it
Stack it, pack it, trap it ♪</i>

399
00:19:13,883 --> 00:19:16,803
<i>♪ Send it to a rich nigga
Tell him work his magic ♪</i>

400
00:19:16,886 --> 00:19:19,889
<i>♪ Stack it, pack it
Stack it, pack it, trap it ♪</i>

401
00:19:19,972 --> 00:19:22,892
<i>♪ Send it to a rich nigga
Tell him make somethin' happen ♪</i>

402
00:19:22,975 --> 00:19:24,644
<i>♪ I ain't slowin' down for no clown ♪</i>

403
00:19:24,727 --> 00:19:25,561
[rings]

404
00:19:25,645 --> 00:19:28,606
<i>♪ Tell him hit the next route
I'm the best out ♪</i>

405
00:19:28,689 --> 00:19:31,317
<i>♪ Work on my confidence
Now my chest out ♪</i>

406
00:19:31,401 --> 00:19:34,987
<i>♪ Pop it and I'm blessed now
They only love you when you down ♪</i>

407
00:19:35,071 --> 00:19:39,283
<i>♪ I'mma stack it, pack it
Stack it, pack it, trap it... ♪</i>

408
00:19:39,367 --> 00:19:41,869
Okay. There you go.

409
00:19:43,121 --> 00:19:45,581
Ooh! Sorry.

410
00:19:45,665 --> 00:19:47,125
Quick tendie break.

411
00:19:47,625 --> 00:19:48,543
Mmm!

412
00:19:48,626 --> 00:19:49,877
Gotta love those tendies.

413
00:19:49,961 --> 00:19:51,254
Sweet, sweet tendies.

414
00:19:52,213 --> 00:19:53,631
Speaking of tendies.

415
00:19:54,841 --> 00:19:57,635
- Look at this. Look at this chart.
- [auspicious music playing]

416
00:19:58,886 --> 00:20:02,598
We go from four, to six, to seven. Now...

417
00:20:03,141 --> 00:20:04,100
ten.

418
00:20:04,684 --> 00:20:07,353
Wall Street must be seeing this, right?

419
00:20:07,437 --> 00:20:09,856
Or are we just screaming into the void?

420
00:20:09,939 --> 00:20:13,317
Hello, Mr. Market. We got tendies too.

421
00:20:13,401 --> 00:20:15,736
We got tendies too.

422
00:20:17,530 --> 00:20:18,489
Maybe we are.

423
00:20:18,573 --> 00:20:23,911
They never saw the, like, nine billion
resumes I sent from 2016 to 2019.

424
00:20:23,995 --> 00:20:26,414
Or in 2009,
right after I graduated college.

425
00:20:26,497 --> 00:20:30,001
I guess they were busy
with that whole "market crash" thing then.

426
00:20:30,084 --> 00:20:31,419
[car approaching]

427
00:20:31,502 --> 00:20:33,045
["Stack It" blaring from car speakers]

428
00:20:33,129 --> 00:20:34,714
<i>♪ Send it to a rich nigga... ♪</i>

429
00:20:34,797 --> 00:20:36,674
- [tires screech]
- Fuck!

430
00:20:36,757 --> 00:20:37,800
<i>♪ Stack it... ♪</i>

431
00:20:37,884 --> 00:20:38,885
[engine stops]

432
00:20:41,262 --> 00:20:42,180
[groans]

433
00:20:45,725 --> 00:20:47,018
Kevin, you son of a bitch!

434
00:20:47,101 --> 00:20:49,145
You can't run with a baby.
You can't run with a baby!

435
00:20:49,228 --> 00:20:52,064
- Don't take my car, man!
- I fucked up your seat!

436
00:20:52,148 --> 00:20:53,691
There's no gas left.

437
00:20:54,484 --> 00:20:56,611
- [cries]
- I know.

438
00:20:56,694 --> 00:20:57,987
["Better Man" playing]

439
00:20:58,070 --> 00:21:00,740
<i>- ♪ You in the zone ♪
- ♪ I can be a better man... ♪</i>

440
00:21:00,823 --> 00:21:03,826
{\an8}[students chattering
and chanting indistinctly]

441
00:21:03,910 --> 00:21:05,912
{\an8}["Better Man" continues over speakers]

442
00:21:07,246 --> 00:21:08,873
How did that taste?

443
00:21:11,167 --> 00:21:13,211
Hey-oh, can I put my pants back on?

444
00:21:13,294 --> 00:21:14,295
[all] No!

445
00:21:14,378 --> 00:21:19,717
"Choose a player and put your hand
down their panties for a whole minute."

446
00:21:19,800 --> 00:21:21,260
[man 1] Panties, who's got panties?

447
00:21:21,344 --> 00:21:22,762
"Two shots if they refuse."

448
00:21:22,845 --> 00:21:25,181
- [students laugh]
- I mean, I got some panties.

449
00:21:25,264 --> 00:21:26,807
- [students groan]
- Ew!

450
00:21:26,891 --> 00:21:29,894
- [James] Bro.
- [students chattering]

451
00:21:31,062 --> 00:21:33,314
- [man 1] Hello. [laughs]
- [man 2] All right.

452
00:21:34,357 --> 00:21:36,150
- All right.
- [woman] Hey, girl.

453
00:21:36,234 --> 00:21:37,652
You said two shots, right?

454
00:21:37,735 --> 00:21:39,195
Oh, c'mon.

455
00:21:39,278 --> 00:21:40,905
[students chattering]

456
00:21:40,988 --> 00:21:42,448
[Harmony] Fuck, all good.

457
00:21:42,532 --> 00:21:44,867
- Can someone start the timer?
- I got you.

458
00:21:44,951 --> 00:21:47,370
- [Harmony] Should I just...? Okay.
- [Riri] Get in there.

459
00:21:47,453 --> 00:21:48,746
- You sure?
- Yeah.

460
00:21:49,497 --> 00:21:51,541
- [James] Whoa.
- [woman whoops]

461
00:21:52,250 --> 00:21:53,584
Okay...

462
00:21:54,252 --> 00:21:55,294
Hi.

463
00:21:55,378 --> 00:21:56,462
Hi.

464
00:21:58,714 --> 00:22:01,133
- How are you?
- [students laugh]

465
00:22:01,217 --> 00:22:02,635
Can you shut the fuck up?

466
00:22:02,718 --> 00:22:05,346
- Fuck off!
- [laughing continues]

467
00:22:05,429 --> 00:22:06,931
[Harmony] So, what'd you do today?

468
00:22:07,014 --> 00:22:10,601
Well, I attended a Zoom seminar

469
00:22:10,685 --> 00:22:14,438
during which I watched
two hours of TikTok.

470
00:22:16,274 --> 00:22:17,566
- [Harmony laughs]
- Oh!

471
00:22:17,650 --> 00:22:20,653
I, um, purchased three shares of stock.

472
00:22:21,612 --> 00:22:23,072
Okay, what stock?

473
00:22:23,155 --> 00:22:25,825
- GameStop.
- Yo, Roaring Kitty!

474
00:22:25,908 --> 00:22:27,576
C'mon. Yes, James.

475
00:22:27,660 --> 00:22:30,329
- [students laughing]
- Can I please put some pants back on?

476
00:22:30,413 --> 00:22:31,414
- [all] No!
- Sit down.

477
00:22:31,497 --> 00:22:34,709
<i>I'm three days into that shit. Look it.
That's just, that's only from today.</i>

478
00:22:34,792 --> 00:22:37,128
<i>I don't care.
I don't know what the fuck I'm doing.</i>

479
00:22:37,211 --> 00:22:39,922
<i>- I just know I'm making money.</i>
- I'm not sold on that.

480
00:22:40,006 --> 00:22:41,716
[Riri] It's doubled since summer.

481
00:22:41,799 --> 00:22:44,176
And the more people who buy in,
the higher it'll go.

482
00:22:44,260 --> 00:22:46,721
That sounds like the literal definition
of a pyramid scheme.

483
00:22:47,513 --> 00:22:49,140
- That's time.
- [man] Bravo!

484
00:22:50,224 --> 00:22:53,436
{\an8}["You Make Me Wanna Purr"
blaring over speakers]

485
00:22:53,519 --> 00:22:55,896
<i>♪ You make me wanna
You make me wanna ♪</i>

486
00:22:58,316 --> 00:23:01,610
<i>♪ You make me wanna
You make me wanna ♪</i>

487
00:23:01,694 --> 00:23:03,571
<i>♪ You make me wanna ♪</i>

488
00:23:05,614 --> 00:23:09,785
<i>♪ You make me wanna
You make me wanna ♪</i>

489
00:23:09,869 --> 00:23:11,454
<i>♪ You make me wanna... ♪</i>

490
00:23:12,496 --> 00:23:16,334
Sorry, I have terrible allergies.
And a killer headache.

491
00:23:16,417 --> 00:23:18,586
<i>Could just be the music coming
from next door though.</i>

492
00:23:18,669 --> 00:23:22,423
You see your buddy Ken's up to
57 billion in short positions?

493
00:23:22,506 --> 00:23:24,425
Yeah, smart. The economy's in free fall.

494
00:23:25,426 --> 00:23:26,927
- Mmm.
- [snorts]

495
00:23:28,637 --> 00:23:31,015
I honestly can't tell
if that was you or Romeo.

496
00:23:31,098 --> 00:23:32,641
Very funny.

497
00:23:32,725 --> 00:23:35,728
I'm telling you. This is when
they drag out the guillotines.

498
00:23:36,312 --> 00:23:38,439
- You're obsessed with him.
<i>- The man is an asshole.</i>

499
00:23:38,522 --> 00:23:42,485
He stole five analysts from me.
All mediocre by the way.

500
00:23:43,277 --> 00:23:44,487
Oh, and two paintings.

501
00:23:44,570 --> 00:23:46,781
- <i>What paintings?</i>
- A Picasso and a de Kooning.

502
00:23:46,864 --> 00:23:48,282
He overpaid 500 million.

503
00:23:48,366 --> 00:23:50,493
That is my entire nut from last year.

504
00:23:50,576 --> 00:23:52,286
The man is an asshole. Just admit it.

505
00:23:52,370 --> 00:23:54,705
You're just bitter
he stole those analysts.

506
00:23:54,789 --> 00:23:56,749
You seen Citadel's projected revenue?

507
00:23:56,832 --> 00:23:58,959
<i>Seven billion dollars.</i>

508
00:23:59,043 --> 00:24:01,587
That's, uh, double last year.

509
00:24:01,670 --> 00:24:03,756
<i>Hoovering up all the stimulus checks</i>.

510
00:24:03,839 --> 00:24:07,593
They go straight from the retail traders
right into Kenny boy's pockets.

511
00:24:07,676 --> 00:24:11,764
The man just gets away with murder.
Look at what I just sent you.

512
00:24:19,438 --> 00:24:23,025
Is this a video of a man drinking
his own urine because a stock went up?

513
00:24:23,109 --> 00:24:24,276
<i>

514
00:24:24,360 --> 00:24:25,903
Where did you get this?

515
00:24:25,986 --> 00:24:27,863
<i>My analysts sent it to me.</i>

516
00:24:27,947 --> 00:24:33,035
They call themselves apes and r-words.
Retard, can they say that?

517
00:24:33,119 --> 00:24:37,164
Remarkably self-aware. They've hooked
into GameStop for whatever reason.

518
00:24:37,248 --> 00:24:38,916
<i>They think it's funny, it seems.</i>

519
00:24:38,999 --> 00:24:40,292
I think it's funny.

520
00:24:40,376 --> 00:24:42,002
I think they think it's a good investment.

521
00:24:42,086 --> 00:24:44,380
Retail traders always lose.

522
00:24:46,215 --> 00:24:48,342
We've actually been short GameStop
since 2014.

523
00:24:48,426 --> 00:24:53,389
The company is a complete disaster.
They've had six CEOs in two years.

524
00:24:54,390 --> 00:24:56,892
Guess these guys are ignoring
obvious secular market trends.

525
00:24:56,976 --> 00:25:00,020
Or they're...
the stupidest people on earth.

526
00:25:00,104 --> 00:25:02,523
You're shorting more right now,
aren't you?

527
00:25:02,606 --> 00:25:04,984
600,000 shares, maybe.

528
00:25:05,568 --> 00:25:07,194
Dumb money, man.

529
00:25:07,278 --> 00:25:08,696
I'm happy to take it.

530
00:25:08,779 --> 00:25:11,782
["You Make Me Wanna Purr"
continues blaring outside]

531
00:25:12,700 --> 00:25:15,578
Mmm! Mmm-mmm-mmm!

532
00:25:16,203 --> 00:25:17,913
Mmm-mmm-mmm!

533
00:25:17,997 --> 00:25:19,874
[automated voice] <i>Listen up, retards,</i>

534
00:25:19,957 --> 00:25:24,879
<i>Melvin Capital has declared war on GME
by shorting the stock even more.</i>

535
00:25:24,962 --> 00:25:28,966
{\an8}<i>This is our call to activate
diamond hands, my fellow warriors.</i>

536
00:25:29,049 --> 00:25:33,971
{\an8}<i>We will not let the gay bears defeat us.
We are on a mission to the fucking moon.</i>

537
00:25:34,054 --> 00:25:37,016
{\an8}<i>This is one that is bigger
than your personal gains.</i>

538
00:25:37,099 --> 00:25:39,643
{\an8}<i>More than just tendies for a new Lambo.</i>

539
00:25:39,727 --> 00:25:43,814
{\an8}<i>This is our chance to rise up together.
To stick it to the big man.</i>

540
00:25:43,898 --> 00:25:46,066
{\an8}<i>Squeezing Melvin by the fucking balls</i>

541
00:25:46,150 --> 00:25:48,986
{\an8}<i>with the collective power
of diamond handing autists.</i>

542
00:25:49,570 --> 00:25:52,990
<i>Wall Street Bets I thought were a bunch
of idiots just throwing money at a stock</i>

543
00:25:53,073 --> 00:25:54,700
<i>because they thought it was funny</i>.

544
00:25:54,783 --> 00:25:56,035
<i>I was wrong.</i>

545
00:25:56,118 --> 00:25:58,579
<i>Now I see what Wall Street Bets really is.</i>

546
00:25:58,662 --> 00:26:01,624
<i>- It is a revolution.
- This is one of those rare moments</i>

547
00:26:01,707 --> 00:26:03,751
<i>where Wall Street are the ones
getting screwed over.</i>

548
00:26:03,834 --> 00:26:05,461
<i>And when we decide we're hungry,</i>

549
00:26:05,544 --> 00:26:07,922
<i>there is very little
the rich can do to stop us</i>

550
00:26:08,005 --> 00:26:10,090
<i>- from beating them.
- It's a GameStop to stop the game.</i>

551
00:26:10,174 --> 00:26:12,259
<i>- Power to the people.
- I'm jerking off right now.</i>

552
00:26:12,343 --> 00:26:13,302
<i>Jerking off right now.</i>

553
00:26:13,385 --> 00:26:15,930
[automated voice]
<i>So, welcome aboard, grab your peanuts,</i>

554
00:26:16,013 --> 00:26:17,890
<i>and get the fuck in, retard.</i>

555
00:26:17,973 --> 00:26:20,059
[Keith] Ho, ho, ho!

556
00:26:20,142 --> 00:26:25,481
What up, everybody? Merry Christmas,
Happy New Year's, happy holidays. Uh...

557
00:26:25,564 --> 00:26:27,900
2020... See ya.

558
00:26:27,983 --> 00:26:31,028
2020 has been a very rough year
for my family too.

559
00:26:31,111 --> 00:26:34,114
So, this GameStop news
has been a bit of a bright spot.

560
00:26:34,198 --> 00:26:36,700
Uh, look at this, I mean, where it's at.

561
00:26:36,784 --> 00:26:40,412
{\an8}It's a five bagger
from where it was over the summer.

562
00:26:40,496 --> 00:26:44,416
You don't often see a thesis
play out like this.

563
00:26:44,500 --> 00:26:45,501
So, we gotta...

564
00:26:45,584 --> 00:26:48,128
We can't take it for granted, right?
We gotta appreciate it.

565
00:26:49,046 --> 00:26:51,465
<i>Thank you, Santa. Right.</i>

566
00:26:52,216 --> 00:26:56,011
<i>Uh, I wanted to say cheers all of you.</i>

567
00:26:56,095 --> 00:26:58,264
You're why I'm here in the first place.

568
00:26:58,931 --> 00:27:02,017
Uh, it's fun to talk about.
I mean, I figure,

569
00:27:02,101 --> 00:27:04,603
if I worked at a hedge fund,
I'd compare notes with my colleagues.

570
00:27:04,687 --> 00:27:07,189
<i>But I don't.
I'm stuck at home like you guys. So...</i>

571
00:27:07,273 --> 00:27:09,567
{\an8}<i>Uh, I believe in this stock.</i>

572
00:27:09,650 --> 00:27:11,902
{\an8}<i>And I believe in this community.</i>

573
00:27:12,570 --> 00:27:13,779
<i>Um...</i>

574
00:27:13,862 --> 00:27:18,659
<i>I'll be honest, uh,
it's been kind of a shitty year.</i>

575
00:27:19,910 --> 00:27:24,665
<i>Uh, for a lot of people. Lotta people
lost people the past 12 months. I did too.</i>

576
00:27:24,748 --> 00:27:26,917
Uh, my sister, Sara.

577
00:27:27,001 --> 00:27:28,002
Uh...

578
00:27:28,085 --> 00:27:31,088
[poignant, pensive music playing]

579
00:27:35,968 --> 00:27:37,845
I don't talk about it much.

580
00:27:39,638 --> 00:27:41,599
<i>But it felt right to tell you.</i>

581
00:27:41,682 --> 00:27:43,934
<i>Uh, we've been through so much together.</i>

582
00:27:44,018 --> 00:27:47,062
<i>You've made me feel a part of something,
something big.</i>

583
00:27:48,022 --> 00:27:50,858
{\an8}<i>So, uh, Merry Christmas. Cheers.</i>

584
00:27:57,364 --> 00:27:59,366
[music fades]

585
00:28:03,912 --> 00:28:05,914
[keypad beeping]

586
00:28:24,725 --> 00:28:25,851
I like your car.

587
00:28:28,354 --> 00:28:29,563
It's a classic.

588
00:28:29,647 --> 00:28:31,231
- '95.
- [man] Yes!

589
00:28:31,315 --> 00:28:33,108
Sadly, it's a gas-guzzler.

590
00:28:33,192 --> 00:28:35,611
Yeah, yup, this one too.

591
00:28:36,570 --> 00:28:40,616
But she's such a beauty
I couldn't stand to trade her.

592
00:28:40,699 --> 00:28:42,284
'96 Honda Accord?

593
00:28:42,368 --> 00:28:45,704
Uh, 2003. Not quite a classic.

594
00:28:46,330 --> 00:28:47,331
[chuckles]

595
00:28:54,088 --> 00:28:58,175
It's kinda weird to talk to someone
and see their whole face. Right?

596
00:28:58,258 --> 00:28:59,718
It's been so long.

597
00:29:00,552 --> 00:29:04,306
I... I work at a hospital,
you could probably tell.

598
00:29:04,390 --> 00:29:05,557
Essential worker.

599
00:29:06,141 --> 00:29:07,559
Thank you for everything you do.

600
00:29:07,643 --> 00:29:08,852
Oh, you're very welcome.

601
00:29:10,896 --> 00:29:11,772
[pump clicks]

602
00:29:13,482 --> 00:29:14,483
[pump clacks]

603
00:29:16,360 --> 00:29:17,569
[pump receiver clicks]

604
00:29:20,322 --> 00:29:21,740
[man] Hey, uh...

605
00:29:22,866 --> 00:29:24,284
Have a good night.

606
00:29:25,202 --> 00:29:26,328
Cool.

607
00:29:27,121 --> 00:29:28,622
Safe travels.

608
00:29:34,753 --> 00:29:35,629
[car door closes]

609
00:29:36,296 --> 00:29:37,297
[engine starts]

610
00:29:45,305 --> 00:29:47,474
[Riri] <i>Remember when
you were just making fun of me</i>

611
00:29:47,558 --> 00:29:50,894
- and now you're literally obsessed.
- No, I don't recall.

612
00:29:50,978 --> 00:29:53,856
- How much are you up?
- 948.

613
00:29:53,939 --> 00:29:57,067
Stock dipped a little,
it was like 2,000 before Christmas.

614
00:29:57,151 --> 00:29:58,694
Maybe you should sell.

615
00:30:00,863 --> 00:30:02,990
No. It's not about the money.

616
00:30:03,073 --> 00:30:04,992
The stock market is not about the money?

617
00:30:05,075 --> 00:30:07,578
No. You just gotta read
some of the stuff on here.

618
00:30:08,162 --> 00:30:11,874
Never understood why my dad
was so pissed off about this whole thing,

619
00:30:11,957 --> 00:30:13,000
but now I do.

620
00:30:14,585 --> 00:30:16,086
I told you about his store, right?

621
00:30:16,170 --> 00:30:17,546
Costco?

622
00:30:18,213 --> 00:30:19,715
Shopko.

623
00:30:19,798 --> 00:30:21,383
It was like, this like...

624
00:30:22,217 --> 00:30:24,011
big chain in our area.

625
00:30:24,845 --> 00:30:28,724
My dad, he worked his way all the way up
from bag boy to general manager.

626
00:30:29,475 --> 00:30:32,186
Then one of these Wall Street funds
came in, bought it,

627
00:30:32,269 --> 00:30:36,648
and vampire-sucked all the money out of it
and then declared bankruptcy.

628
00:30:36,732 --> 00:30:37,816
Fuck.

629
00:30:38,942 --> 00:30:40,027
Yeah.

630
00:30:41,737 --> 00:30:44,782
He lost his pension. Everything.

631
00:30:46,116 --> 00:30:48,994
It's why he had to work at
Pick 'n fuckin' Save till the day he died.

632
00:30:49,078 --> 00:30:51,455
And now that's why
I'm up to my ass in debt.

633
00:30:52,790 --> 00:30:55,459
And these fuckers are trying to do
the same thing to GameStop.

634
00:30:56,919 --> 00:30:58,087
Fuck 'em.

635
00:30:59,713 --> 00:31:01,048
Fuck 'em all.

636
00:31:22,694 --> 00:31:24,571
- [Riri] Wait, look.
- Hm?

637
00:31:24,655 --> 00:31:25,989
Look at this.

638
00:31:26,073 --> 00:31:28,867
- This guy wants to CashApp me $100...
- Shut the fuck up.

639
00:31:28,951 --> 00:31:32,913
...to send him a selfie. Or 500
if I live chat him from a bubble bath.

640
00:31:32,996 --> 00:31:34,832
[Harmony] Yes! Yes, we should do it.

641
00:31:34,915 --> 00:31:37,042
- What?
- Yes, we do it.

642
00:31:37,126 --> 00:31:39,503
And then put the money into GameStop.

643
00:31:40,045 --> 00:31:43,799
- Who am I talking to right now?
- C'mon, bitch, let's go get a tub.

644
00:31:43,882 --> 00:31:45,509
["Litt" playing]

645
00:31:45,592 --> 00:31:47,970
<i>♪ We got this motherfucker lit
On some money shit ♪</i>

646
00:31:48,053 --> 00:31:50,973
<i>♪ Yeah, everybody's shit
Everybody's shit, yeah ♪</i>

647
00:31:51,056 --> 00:31:53,517
<i>♪ We got this motherfucker lit
On some money shit ♪</i>

648
00:31:53,600 --> 00:31:56,186
<i>♪ Everybody's shit
Everybody's shit ♪</i>

649
00:31:56,270 --> 00:31:57,521
<i>♪ Unh, please don't pretend... ♪</i>

650
00:31:57,604 --> 00:31:58,689
[woman] Your entire business

651
00:31:58,772 --> 00:32:00,816
is kids spending their lunch money
on random stocks.

652
00:32:00,899 --> 00:32:02,651
They come to you because it's free.

653
00:32:02,734 --> 00:32:06,738
{\an8}But if you don't charge a commission
on their trades,

654
00:32:06,822 --> 00:32:08,657
how do you make money?

655
00:32:08,740 --> 00:32:09,616
[song stops]

656
00:32:09,700 --> 00:32:15,289
The idea for Robinhood really came out
of the Occupy Wall Street movement.

657
00:32:15,372 --> 00:32:16,999
All those people
with no way of getting in.

658
00:32:17,082 --> 00:32:19,334
Is that what Occupy was about?

659
00:32:19,418 --> 00:32:22,171
I mean, were they trying to get in or...

660
00:32:22,254 --> 00:32:24,339
So, we said it's not enough to occupy.

661
00:32:24,423 --> 00:32:27,301
- We need to democratize Wall Street.
- Nat, I'm not sure you know this,

662
00:32:27,384 --> 00:32:28,802
but Baiju and I are both immigrants.

663
00:32:28,886 --> 00:32:30,596
I was born in Bulgaria,

664
00:32:30,679 --> 00:32:33,265
and Baiju's parents immigrated from India
to the Deep South.

665
00:32:34,141 --> 00:32:37,811
Can you imagine growing up
in rural Virginia with a name like

666
00:32:37,895 --> 00:32:40,856
Baiju Prafulkumar Bhatt? [laughs]

667
00:32:40,939 --> 00:32:44,193
We created commission-free trading
so that anyone can get in the game.

668
00:32:44,276 --> 00:32:47,738
You don't even need a bank account.
People have really responded.

669
00:32:47,821 --> 00:32:51,700
We've added five million users,
uh, in the last six months,

670
00:32:51,783 --> 00:32:54,536
- for a total of, um...
- Close to 20 at this point. Million.

671
00:32:54,620 --> 00:32:56,371
[Nat]
So, you're one of these tech companies

672
00:32:56,455 --> 00:32:58,707
that's exploded growth-wise,
but doesn't make any money.

673
00:32:58,790 --> 00:33:00,542
- We make money.
- [Nat] But how?

674
00:33:00,626 --> 00:33:03,545
- If you don't charge commission then...
- From interest on people's accounts.

675
00:33:03,629 --> 00:33:05,130
[Nat] But your users are mostly young.

676
00:33:05,214 --> 00:33:07,925
So, how much money can they
really be keeping in their account?

677
00:33:08,008 --> 00:33:09,551
There's also payment for order flow.

678
00:33:09,635 --> 00:33:10,469
What's that?

679
00:33:10,552 --> 00:33:13,347
We prefer the term "stock order routing."

680
00:33:13,430 --> 00:33:15,307
When you buy or sell a stock on our app,

681
00:33:15,390 --> 00:33:18,101
we send your order to market makers,
who process the order.

682
00:33:18,185 --> 00:33:20,479
They pay us a tiny rebate on every trade.

683
00:33:20,562 --> 00:33:22,272
- Tiny.
- But it adds up.

684
00:33:22,356 --> 00:33:24,608
We should really get back to how we...
started our company.

685
00:33:24,691 --> 00:33:26,109
What market maker do you work with?

686
00:33:26,193 --> 00:33:28,403
A few. Citadel Securities mostly.

687
00:33:28,487 --> 00:33:30,781
Ken Griffin's firm?
Isn't that a hedge fund?

688
00:33:30,864 --> 00:33:34,368
Well, Ken Griffin's hedge fund
is called Citadel.

689
00:33:34,451 --> 00:33:37,037
But Citadel Securities
is a completely different company.

690
00:33:37,120 --> 00:33:38,830
Also owned by Ken Griffin?

691
00:33:40,249 --> 00:33:41,333
All right,

692
00:33:42,000 --> 00:33:44,670
we weren't gonna do this,
but we'll give you a scoop.

693
00:33:45,337 --> 00:33:47,172
Off the record for now.

694
00:33:47,839 --> 00:33:48,882
Okay.

695
00:33:50,217 --> 00:33:52,135
We're looking to IPO soon.

696
00:33:54,012 --> 00:33:56,515
Damn. Okay.

697
00:33:57,641 --> 00:33:58,475
That's big.

698
00:33:58,558 --> 00:33:59,977
["Humble" playing]

699
00:34:00,060 --> 00:34:02,938
<i>♪ Girl, I can buy your ass the world
With my paystub ♪</i>

700
00:34:03,021 --> 00:34:06,316
<i>♪ Ooh, that pussy good
Won't you sit it on my taste bloods? ♪</i>

701
00:34:06,400 --> 00:34:09,611
<i>♪ I get way too petty
Once you let me do the extras ♪</i>

702
00:34:09,695 --> 00:34:12,572
<i>♪ Pull up on your block then break it down
We playin' Tetris ♪</i>

703
00:34:12,656 --> 00:34:15,784
<i>♪ AM to the PM, PM to the AM, funk ♪</i>

704
00:34:15,867 --> 00:34:18,996
<i>♪ Piss out your per diem
You just gotta hate 'em, funk ♪</i>

705
00:34:19,079 --> 00:34:20,455
<i>♪ If I quit your BM ♪</i>

706
00:34:20,539 --> 00:34:22,666
<i>♪ Hold up
Sit down, lil bitch ♪</i>

707
00:34:22,749 --> 00:34:24,584
<i>♪ Be humble, lil bitch... ♪</i>

708
00:34:24,668 --> 00:34:25,961
Okay, don't say the bad word.

709
00:34:26,044 --> 00:34:27,212
[boy] <i>♪ Be humble ♪</i>

710
00:34:27,296 --> 00:34:28,880
<i>♪ Sit down ♪</i>

711
00:34:28,964 --> 00:34:30,465
<i>♪ ...be humble... ♪</i>

712
00:34:30,549 --> 00:34:33,135
[Marcos] <i>♪ Sit down, be humble ♪</i>

713
00:34:33,760 --> 00:34:35,053
<i>- ♪ Sit down ♪
- ♪ Sit down ♪</i>

714
00:34:35,137 --> 00:34:36,972
<i>- ♪ ...be humble ♪
- ♪ Hold up, lil bitch ♪</i>

715
00:34:37,055 --> 00:34:39,725
<i>- ♪ Sit down, be humble ♪
- ♪ Sit down, lil bitch ♪</i>

716
00:34:39,808 --> 00:34:41,852
<i>- ♪ Bitch, sit down ♪
- ♪ Hold up... ♪</i>

717
00:34:41,935 --> 00:34:44,104
<i>♪ Be humble, sit down, lil bitch ♪</i>

718
00:34:44,187 --> 00:34:46,356
Kev, please.
Your father needs to concentrate.

719
00:34:46,440 --> 00:34:47,566
<i>♪ Well, sit down, lil bitch ♪</i>

720
00:34:47,649 --> 00:34:50,444
Drove long-haul for forty years.
I don't need to concentrate.

721
00:34:50,527 --> 00:34:52,863
- [song stops]
- Fine. I need to concentrate.

722
00:34:52,946 --> 00:34:55,115
- What do you need to concentrate about?
- [gasps]

723
00:34:55,198 --> 00:34:56,283
[Steve gasps] What?

724
00:34:56,366 --> 00:34:58,493
[Elaine] I thought they were veering over
into our lane.

725
00:34:58,577 --> 00:35:01,079
[Steve] Nobody was veering, Elaine.
It's okay.

726
00:35:02,039 --> 00:35:03,457
[sighs]

727
00:35:05,042 --> 00:35:07,085
You talk to any of the girls
at the clinic?

728
00:35:07,169 --> 00:35:08,795
A few of them have called.

729
00:35:10,881 --> 00:35:12,090
[Elaine sighs]

730
00:35:12,174 --> 00:35:13,508
I miss it.

731
00:35:13,592 --> 00:35:15,344
Boys, never retire.

732
00:35:16,011 --> 00:35:17,679
Keith, never retire.

733
00:35:18,347 --> 00:35:20,349
Kevin, if you ever get a job,
never retire.

734
00:35:20,432 --> 00:35:21,433
I have a job!

735
00:35:21,516 --> 00:35:23,727
Yet you still live with Ma and Dad.

736
00:35:23,810 --> 00:35:27,356
Oh, you're some big professional now
cuz you're fucking king dork on YouTube?

737
00:35:27,439 --> 00:35:28,690
Just one of many dorks.

738
00:35:28,774 --> 00:35:31,026
[scoffs] This asshole
thinks he's Jimmy Buffett now.

739
00:35:31,109 --> 00:35:32,611
- C'mon.
- [Keith] Warren Buffett.

740
00:35:32,694 --> 00:35:34,654
- Warren Buffett.
- See?

741
00:35:34,738 --> 00:35:37,657
You're not either of the Buffetts, Kitty!

742
00:35:40,911 --> 00:35:42,162
You're Ballz?

743
00:35:45,457 --> 00:35:47,167
- Hey!
- [Steve] Ah, good Christ.

744
00:35:47,250 --> 00:35:48,085
- Fellas.
- [Kevin] Ma.

745
00:35:48,168 --> 00:35:50,545
- [groans]
- Drop! Stop it!

746
00:35:55,008 --> 00:35:56,176
Door Dash is not a job.

747
00:35:57,344 --> 00:35:58,387
MassMutual's a job.

748
00:35:58,470 --> 00:36:00,639
- A job's got business cards.
- Door Dash is a job.

749
00:36:00,722 --> 00:36:01,932
Okay, I'm a first responder.

750
00:36:02,015 --> 00:36:04,726
And second of all, Ma,
nobody uses business cards anymore.

751
00:36:06,478 --> 00:36:08,397
We're proud of you, honey.

752
00:36:09,439 --> 00:36:10,690
Get a room.

753
00:36:10,774 --> 00:36:13,777
[poignant music playing]

754
00:36:30,585 --> 00:36:33,588
Take your time. I'll be in the car.

755
00:36:45,767 --> 00:36:47,102
Yeah.

756
00:36:55,694 --> 00:36:56,987
Love you.

757
00:36:58,989 --> 00:37:01,992
[dramatic music playing]

758
00:37:21,052 --> 00:37:22,637
[Gabe] <i>It has been dragging on.</i>

759
00:37:22,721 --> 00:37:24,931
<i>Honestly, I don't know
when we'll be able to start demo</i>

760
00:37:25,015 --> 00:37:26,766
<i>because local ordinances are a nightmare.</i>

761
00:37:26,850 --> 00:37:30,020
[Ken] <i>My heart bleeds for you.
Having to borrow a tennis court.</i>

762
00:37:30,103 --> 00:37:31,813
"Borrower is slave to the lender."

763
00:37:31,897 --> 00:37:32,856
Is that Buffett?

764
00:37:32,939 --> 00:37:36,067
It's the Bible. Uh, Proverbs.
My Grandpa Melvin used to say it.

765
00:37:36,151 --> 00:37:37,777
When he was starting
his convenience store,

766
00:37:37,861 --> 00:37:39,112
he refused to borrow one dollar.

767
00:37:39,196 --> 00:37:40,155
It was a point of pride.

768
00:37:40,238 --> 00:37:41,948
Ah, yes, your humble beginnings.

769
00:37:42,032 --> 00:37:46,077
"Grandpa Melvin" Capital,
now with 16 billion under management.

770
00:37:46,661 --> 00:37:49,331
Better than "Citadel."
You sound like you're preparing for war.

771
00:37:49,414 --> 00:37:50,457
I'm a man of the people.

772
00:37:50,540 --> 00:37:51,666
You rented out a resort,

773
00:37:51,750 --> 00:37:55,086
and relocated your entire firm here
so you could stay open during lockdown.

774
00:37:55,170 --> 00:37:58,340
Says the man who flew his whole firm
down private just for a party.

775
00:37:58,423 --> 00:38:00,258
And anyway,
what kind of company shuts down

776
00:38:00,342 --> 00:38:02,135
just because the government tells them to?

777
00:38:02,219 --> 00:38:04,346
All the ones in your short portfolio.

778
00:38:04,429 --> 00:38:06,306
- And yours.
- Ah!

779
00:38:06,389 --> 00:38:08,934
{\an8}<i>- All except for one actually.</i>
- [Ken] <i>Which one?</i>

780
00:38:09,017 --> 00:38:10,894
- [Gabe] <i>GameStop.</i>
- [Ken] <i>How?</i>

781
00:38:10,977 --> 00:38:13,563
[Gabe] <i>They sell computer mouses. Mice?</i>

782
00:38:13,647 --> 00:38:15,732
<i>They claim it makes them
an essential business.</i>

783
00:38:15,815 --> 00:38:18,318
[Ken] <i>That is the smartest dumbest thing
I've ever heard.</i>

784
00:38:18,401 --> 00:38:21,112
[Gabe] <i>I know, it's actually a fun one.
The revenue's in the toilet.</i>

785
00:38:21,196 --> 00:38:23,907
<i>632 million net loss last year.</i>

786
00:38:23,990 --> 00:38:26,952
<i>They'd be better off just burning
the whole company down.</i>

787
00:38:27,035 --> 00:38:30,121
<i>The stock though, it has been volatile.
It's been up.</i>

788
00:38:30,205 --> 00:38:32,707
- Buybacks?
- Retail traders.

789
00:38:32,791 --> 00:38:34,918
- [laughs]
- [Marcos] Bro. I don't have it, bro.

790
00:38:35,001 --> 00:38:36,044
- Damn, brother.
- Sorry, man.

791
00:38:36,127 --> 00:38:37,504
- Yeah, yeah, yeah.
- Have a good one.

792
00:38:37,587 --> 00:38:39,923
- Yo, stay up though! Aight, bro. Aight.
- Yeah.

793
00:38:45,595 --> 00:38:47,222
I'm gonna put these back real quick.

794
00:38:47,305 --> 00:38:49,307
[music fades]

795
00:38:54,729 --> 00:38:55,897
Hey, Marcos.

796
00:38:56,856 --> 00:38:58,024
[Marcos] Yes, Bradley?

797
00:38:59,317 --> 00:39:01,861
Uh, I... I love how you engaged
with that customer,

798
00:39:01,945 --> 00:39:04,155
but we really wanna close
those pre-owned sales.

799
00:39:04,239 --> 00:39:05,532
The margin's more than double.

800
00:39:05,615 --> 00:39:07,033
Oh, shit, double.

801
00:39:07,117 --> 00:39:08,994
Yeah, you didn't do
any of the five prongs, dude:

802
00:39:09,077 --> 00:39:12,455
Pre-orders. Reward-card subscriptions.
Used sales. New sales. Trade-ins.

803
00:39:12,539 --> 00:39:14,249
Yeah, I mean,
when I was a 16-year old gamer,

804
00:39:14,332 --> 00:39:16,251
all I wanted
was a reward-card subscription.

805
00:39:16,334 --> 00:39:19,588
Five dollars cash back monthly,
20 points for every dollar spent...

806
00:39:20,171 --> 00:39:21,006
Don't get me started.

807
00:39:21,089 --> 00:39:23,592
{\an8}A lot of really smart people in corporate
put this plan together.

808
00:39:23,675 --> 00:39:26,011
{\an8}Yeah, but any of them
ever played a video game?

809
00:39:26,094 --> 00:39:28,972
{\an8}Uh, it doesn't matter, Marcos,
because they own our asses.

810
00:39:29,055 --> 00:39:32,142
Yo, they don't own my ass, so.

811
00:39:32,684 --> 00:39:33,768
They do,

812
00:39:33,852 --> 00:39:35,228
and they always will.

813
00:39:38,315 --> 00:39:39,357
Mask.

814
00:39:41,276 --> 00:39:42,527
Hey, Bradley.

815
00:39:45,655 --> 00:39:47,741
You ever heard of a short squeeze?

816
00:39:55,498 --> 00:39:57,292
Is that a sexual thing?

817
00:39:59,127 --> 00:40:00,503
No.

818
00:40:01,963 --> 00:40:03,340
<i>Oh, yeah!</i>

819
00:40:03,423 --> 00:40:05,967
{\an8}[Colbert] <i>Here's what's going on.
Late last year,</i>

820
00:40:06,051 --> 00:40:10,639
{\an8}<i>hedge funds started shorting stock
in the retail store GameStop.</i>

821
00:40:10,722 --> 00:40:14,225
<i>Meaning they had bet against it
and needed it to drop in price</i>

822
00:40:14,309 --> 00:40:18,021
<i>for their investments to be successful.
Now unfortunately for the hedge funds,</i>

823
00:40:18,104 --> 00:40:23,568
<i>small investors started buying the stock
led by something called Wall Street Bets,</i>

824
00:40:23,652 --> 00:40:27,238
{\an8}<i>a popular, juvenile,
foul-mouthed Reddit page.</i>

825
00:40:27,322 --> 00:40:29,074
<i>And when Wall Street Bets noticed</i>

826
00:40:29,157 --> 00:40:32,911
<i>that hedge funds had taken
a large short position in GameStop stock,</i>

827
00:40:32,994 --> 00:40:35,580
<i>they decided to punish
the Wall Street big boys</i>

828
00:40:35,664 --> 00:40:38,416
<i>and launched a coordinated buying spree.</i>

829
00:40:39,042 --> 00:40:42,045
{\an8}<i>The revolutionaries on Reddit
are spanking Wall Street's ass.</i>

830
00:40:42,128 --> 00:40:48,134
{\an8}<i>GameStop shares absolutely going nuts.
I think it was up over 70% at one point.</i>

831
00:40:48,218 --> 00:40:50,136
<i>- Massive short squeeze...</i>
- [Keith] Show me...

832
00:40:50,220 --> 00:40:52,847
- ...<i>closing there, with a gain of 51%...</i>
- ...the tendiesss!

833
00:40:52,931 --> 00:40:54,808
<i>...after traders on message boards...</i>

834
00:40:54,891 --> 00:40:58,228
[yelling]

835
00:40:58,311 --> 00:40:59,646
What?

836
00:40:59,729 --> 00:41:04,651
Happy Wednesday! Happy hump day!
Gee... look at this!

837
00:41:04,734 --> 00:41:06,069
Look at this shit!

838
00:41:06,152 --> 00:41:09,280
A 90% increase in one day?
In one fucking day!

839
00:41:09,364 --> 00:41:12,659
We're goin' to the mooooon.

840
00:41:12,742 --> 00:41:15,829
Whoa-ho-ho-ho!

841
00:41:15,912 --> 00:41:19,624
If you've been watching this price action,
this is what I'm talking about.

842
00:41:19,708 --> 00:41:21,710
<i>You can really feel that panic
from Wall Street.</i>

843
00:41:21,793 --> 00:41:23,586
When they starting to feel
a little squeeze.

844
00:41:23,670 --> 00:41:25,630
You're starting to really feel
a little squeeze.

845
00:41:25,714 --> 00:41:28,425
I need a drink. I need a drink.
I know we all drinking tonight.

846
00:41:28,508 --> 00:41:29,968
We fucking did it!

847
00:41:30,051 --> 00:41:32,762
We started from the bottom
and now we're here!

848
00:41:32,846 --> 00:41:36,141
- ["I'd Do Anything for love" playing]
- Let's raise a glass

849
00:41:36,224 --> 00:41:40,061
to a great company
that's undervalued, cheers.

850
00:41:40,645 --> 00:41:44,274
<i>Soon may the tendiemen come...
Show me the tendies. Show me the tendies.</i>

851
00:41:44,357 --> 00:41:45,525
I got 'em right here.

852
00:41:45,608 --> 00:41:48,903
Show me the tendies. I just gotta...
I just gotta dip.

853
00:41:48,987 --> 00:41:51,614
I just gotta... I just gotta dip. Ah!

854
00:41:53,032 --> 00:41:53,867
Mmm.

855
00:41:53,950 --> 00:41:56,703
<i>♪ No way
And I would do... ♪</i>

856
00:41:56,786 --> 00:41:59,539
Mmm-mmm-mmm.

857
00:41:59,622 --> 00:42:01,249
Eleven fucking million dollars?

858
00:42:01,332 --> 00:42:02,208
<i>What the fuck!</i>

859
00:42:02,292 --> 00:42:04,961
- Oh, language. The baby's here.
- <i>What are you gonna do?</i>

860
00:42:05,044 --> 00:42:07,255
Get a Ferrari? A Lambo?

861
00:42:07,338 --> 00:42:09,007
You're gonna ask for a big diamond, right?

862
00:42:09,090 --> 00:42:10,383
I have a diamond.

863
00:42:10,467 --> 00:42:12,844
<i>Keith, you get a fucking diamond!
If I were you, I'd look like</i>

864
00:42:12,927 --> 00:42:15,430
- <i>DJ Khaled right now.</i>
- Kev! It's not real.

865
00:42:15,513 --> 00:42:17,056
I mean, it's real, but it's just paper.

866
00:42:17,140 --> 00:42:20,143
Just on paper! You're gonna sell, right?

867
00:42:20,226 --> 00:42:21,436
- No!
- Maybe.

868
00:42:21,978 --> 00:42:24,689
I mean, I don't know. Uh...

869
00:42:24,773 --> 00:42:28,193
- We... We haven't talked about it.
- <i>What the fuck is wrong with you?</i>

870
00:42:28,276 --> 00:42:31,446
I'm riding Mom's bike every day
to Dorchester to drop off cheeseburgers

871
00:42:31,529 --> 00:42:33,031
because you won't let me use your car.

872
00:42:33,114 --> 00:42:35,700
And you're mister, "I won't sell
and take millions of dollars."

873
00:42:35,784 --> 00:42:37,410
What you do with your life is your choice.

874
00:42:37,494 --> 00:42:40,330
<i>You think I wanted to get laid off
from Dick's during a global pandemic?</i>

875
00:42:40,413 --> 00:42:43,541
I love those sneakers, man.
I loved that store. I love Dick's.

876
00:42:43,625 --> 00:42:46,628
- <i>Mom's bike doesn't even have gears.</i>
- We don't know if it's reached the top.

877
00:42:46,711 --> 00:42:49,547
The stock jumped like 23% yesterday.

878
00:42:49,631 --> 00:42:51,424
- Double from Friday's close.
- But he's right.

879
00:42:51,508 --> 00:42:53,802
I mean, 11 million dollars
is a lot of fucking dough.

880
00:42:53,885 --> 00:42:55,053
- Thank you!
- [Keith] <i>Okay, yes,</i>

881
00:42:55,136 --> 00:42:58,181
<i>but since Ryan Cohen
joined the board, the...</i>

882
00:42:58,264 --> 00:42:59,516
This fucking guy.

883
00:42:59,599 --> 00:43:01,935
...got a two billion market cap.
Could it go pff? Yeah.

884
00:43:02,018 --> 00:43:04,896
But that's not what I'm seeing.
That's not what I'm seeing, Kev.

885
00:43:05,980 --> 00:43:07,732
Kev? You there?

886
00:43:10,360 --> 00:43:11,486
Did he hang up?

887
00:43:12,195 --> 00:43:13,530
Yeah.

888
00:43:14,113 --> 00:43:15,031
[groans]

889
00:43:24,040 --> 00:43:25,917
Fuck, I think hold.

890
00:43:26,000 --> 00:43:29,212
[pensive music playing]

891
00:43:29,295 --> 00:43:31,923
- [Chris] Girl, you gotta sell.
- [Jenny] I'm not selling.

892
00:43:32,006 --> 00:43:33,132
How much are you up?

893
00:43:33,216 --> 00:43:35,134
[Jenny] 58,000 and some change.

894
00:43:35,218 --> 00:43:37,595
[man speaking indistinctly]

895
00:43:37,679 --> 00:43:40,014
Baby girl, what the fuck?

896
00:43:40,098 --> 00:43:42,141
You need to get out while you can.

897
00:43:42,225 --> 00:43:44,811
- Don't be an idiot.
- You remember red headband guy.

898
00:43:44,894 --> 00:43:48,314
He's worth 11 million dollars.
And he's not selling.

899
00:43:48,398 --> 00:43:50,358
- No fucking way.
- [Jenny] Yes fucking way.

900
00:43:50,441 --> 00:43:52,986
This is what I'm telling you.
Diamond hands.

901
00:43:54,153 --> 00:43:57,699
Diamond hands. You hold the line
no matter what the market does.

902
00:43:57,782 --> 00:43:59,117
No matter what Wall Street says.

903
00:43:59,200 --> 00:44:01,160
What happens
when everyone else sells first,

904
00:44:01,244 --> 00:44:03,955
and before you get out
you've lost all your money?

905
00:44:04,038 --> 00:44:05,707
[woman] Are there any volunteers?

906
00:44:05,790 --> 00:44:07,542
- [Jenny] I'm...
- [man] Anyone?

907
00:44:07,625 --> 00:44:09,752
- [Jenny] We're gonna hold the line.
- [woman] C'mon.

908
00:44:09,836 --> 00:44:11,880
- Someone has to go first.
- Okay, yeah. I'll do it.

909
00:44:17,260 --> 00:44:18,803
[man] Here we go everyone.

910
00:44:18,887 --> 00:44:21,806
The first Covid vaccine
at Pittsburgh Presbyterian.

911
00:44:21,889 --> 00:44:23,266
[Riri] <i>Ah!</i>

912
00:44:23,349 --> 00:44:24,726
Fuck! Fuck!

913
00:44:24,809 --> 00:44:28,730
<i>Fuck! Guys, we need your help.
What should we do?</i>

914
00:44:29,981 --> 00:44:33,818
So, listen, my girl bought in under 20
and now it is over 60.

915
00:44:33,901 --> 00:44:35,737
So, like, should she sell?

916
00:44:35,820 --> 00:44:38,031
On the one hand, she has principles.

917
00:44:39,073 --> 00:44:42,452
On the other,
she has 100K in student debt. So...

918
00:44:42,535 --> 00:44:45,204
One way you could think
about the comparison between

919
00:44:45,288 --> 00:44:47,832
Marxism and Utilitarian tradition

920
00:44:47,915 --> 00:44:51,544
is that they both have a micro story
and a macro story.

921
00:44:51,628 --> 00:44:53,921
When you think of Utilitarian tradition...

922
00:44:54,005 --> 00:44:58,343
The only thing that would convince her
to sell is if Roaring Kitty sold.

923
00:44:59,552 --> 00:45:01,971
So... Where my pussy at?

924
00:45:02,055 --> 00:45:05,058
[professor] You have the micro story
for the Pareto principle

925
00:45:05,141 --> 00:45:07,810
for how each individual action will go.

926
00:45:08,645 --> 00:45:09,896
But you also have a macro story.

927
00:45:09,979 --> 00:45:12,023
[over speakers]
<i>Where my pussy at? Where my pussy at?</i>

928
00:45:12,106 --> 00:45:14,192
<i>- Where my pussy at?!</i>
- [Harmony] Sorry.

929
00:45:14,275 --> 00:45:17,445
<i>- Where my pussy aaaaatttt?!</i>
- [students laughing]

930
00:45:17,528 --> 00:45:18,988
[Harmony] I'm so sorry.

931
00:45:19,072 --> 00:45:22,367
Hey, hey, where my pussy at? Ha!

932
00:45:22,450 --> 00:45:25,244
- Where is my pussy at?
- It's not in here.

933
00:45:31,751 --> 00:45:34,754
[pensive music playing]

934
00:45:46,182 --> 00:45:47,934
[Riri] Whoa,

935
00:45:48,017 --> 00:45:50,520
- wait, listen, hold on.
- [chattering indistinctly]

936
00:45:51,854 --> 00:45:55,525
"Future generations will look back
and say 'Good men stood here,

937
00:45:55,608 --> 00:45:58,236
good men fought,
and died on this ground...

938
00:45:58,319 --> 00:46:02,907
as they point to a TradingView daily chart
of GME zoomed in on January.'

939
00:46:03,574 --> 00:46:05,243
<i>Since the spawn of the stonkmarket,</i>

940
00:46:05,326 --> 00:46:07,870
<i>two classes of people
have been pitted against each other..."</i>

941
00:46:07,954 --> 00:46:12,500
"Eternal enemies, forever forced and
fated to combat: lions and hyenas."

942
00:46:12,583 --> 00:46:16,254
[Marcos] <i>"These lions</i>...
<i>these Wall Street hedge funds have it all.</i>

943
00:46:16,337 --> 00:46:17,422
<i>Billions of dollars,</i>

944
00:46:17,505 --> 00:46:22,385
bail outs for reckless trades,
these dirty fucking criminal bastards."

945
00:46:22,468 --> 00:46:27,140
Yup, these fucking motherfuckers.

946
00:46:27,223 --> 00:46:28,725
<i>"And then there's us.</i>

947
00:46:28,808 --> 00:46:33,396
<i>The working man, the average Joe.
What do we have?</i>

948
00:46:33,980 --> 00:46:36,774
<i>What the fuck do we have?</i>

949
00:46:36,858 --> 00:46:38,860
<i>They literally call us 'dumb money.'"</i>

950
00:46:38,943 --> 00:46:40,695
[Kevin]
<i>"These lions, these hedge fund guys,</i>

951
00:46:40,778 --> 00:46:42,697
<i>were born with silver spoons
in their mouths.</i>

952
00:46:42,780 --> 00:46:44,323
<i>The top 1% of the 1%.</i>

953
00:46:44,407 --> 00:46:47,994
<i>They have massive bank accounts,
eat medium rare Grade A Wagyu steak."</i>

954
00:46:48,077 --> 00:46:50,371
What the fuck is that?
That sounds delicious.

955
00:46:50,455 --> 00:46:52,790
"With truffle shavings for lunch."
That's fuck!

956
00:46:52,874 --> 00:46:54,625
<i>"They frequent the finest strip clubs.</i>

957
00:46:54,709 --> 00:46:56,794
<i>They have blow and escorts
on their yacht parties."</i>

958
00:46:56,878 --> 00:46:58,713
Why do we hate these guys?

959
00:46:58,796 --> 00:47:00,757
"Then you know what
they will tell these escorts?"

960
00:47:00,840 --> 00:47:02,925
- What's an escort?
- Stop listening!

961
00:47:03,009 --> 00:47:07,221
"When the smoking hot blonde asks them,
'Like, how do you have so much money?'"

962
00:47:08,139 --> 00:47:12,977
"You know what they say? They say
'Ha, dumb money, babe. Dumb money.'"

963
00:47:15,188 --> 00:47:17,940
- [boy] Something's burning.
- [smoke alarm beeping]

964
00:47:18,024 --> 00:47:20,485
Oh... damn it.

965
00:47:20,568 --> 00:47:22,320
- Shit!
- You said "shit."

966
00:47:27,033 --> 00:47:28,201
[clicks]

967
00:47:31,162 --> 00:47:35,249
[Marcos] <i>"Last, the GME trade is about
class warfare. Plain and simple.</i>

968
00:47:35,958 --> 00:47:39,212
<i>We may be hyenas, yes. But guess what?</i>

969
00:47:39,295 --> 00:47:42,548
<i>You put enough of us together,
and we can destroy a lion."</i>

970
00:47:43,716 --> 00:47:46,552
It's on, motherfuckers! [howls]

971
00:47:46,636 --> 00:47:48,721
[music turns dramatic]

972
00:47:48,805 --> 00:47:51,057
<i>Aw, we coming for y'all.</i>

973
00:47:51,140 --> 00:47:52,975
<i>Y'all better get ready.</i>

974
00:47:53,059 --> 00:47:54,227
<i>We fucking coming for you.</i>

975
00:47:54,310 --> 00:47:56,938
That is some nerdy shit, man.

976
00:47:57,605 --> 00:48:00,274
My brother is a fucking nerd.

977
00:48:02,902 --> 00:48:04,987
[panting]

978
00:48:06,614 --> 00:48:08,658
Fuck!

979
00:48:11,577 --> 00:48:13,162
[footsteps thumping]

980
00:48:13,246 --> 00:48:14,247
[girl screams]

981
00:48:14,330 --> 00:48:17,041
Counting down from five
and then I'm coming back in there.

982
00:48:17,124 --> 00:48:19,085
I don't think you want that.

983
00:48:19,168 --> 00:48:20,628
[girl screams]

984
00:48:20,711 --> 00:48:21,587
Five.

985
00:48:22,213 --> 00:48:23,965
- Four.
- Three.

986
00:48:24,048 --> 00:48:25,216
Two.

987
00:48:25,299 --> 00:48:26,425
[screaming stops]

988
00:48:26,509 --> 00:48:27,802
Thank you.

989
00:48:27,885 --> 00:48:29,637
- How was your day?
- Long.

990
00:48:29,720 --> 00:48:34,225
It's so hard to keep them focused
on Zoom school. They're just not into it.

991
00:48:35,101 --> 00:48:36,727
How was your day?

992
00:48:36,811 --> 00:48:37,895
[Gabe] Good.

993
00:48:40,189 --> 00:48:42,650
You're not worried
about the short squeeze thing?

994
00:48:42,733 --> 00:48:44,735
The dam'll break next week.

995
00:48:44,819 --> 00:48:47,321
A few of them will decide it's gone
high enough, they'll cash out,

996
00:48:47,405 --> 00:48:50,408
the rest will follow,
whole thing will come crashing down.

997
00:48:50,491 --> 00:48:53,578
I can't think of the last short squeeze
that actually worked.

998
00:48:54,537 --> 00:48:55,872
Ackman and Herbalife.

999
00:48:56,455 --> 00:48:58,457
Before that... Piggly Wiggly? [laughs]

1000
00:48:58,541 --> 00:48:59,792
Piggly Wiggly.

1001
00:48:59,876 --> 00:49:04,463
Yeah. 1923, a bear cartel was shorting
the Piggly Wiggly grocery store.

1002
00:49:04,547 --> 00:49:09,510
The founder, he takes out a loan
for what would be $150 million today.

1003
00:49:09,594 --> 00:49:11,971
He buys back almost all the stock,
like 99% of the stock.

1004
00:49:12,054 --> 00:49:14,307
The price of the stock goes up 50%.

1005
00:49:14,390 --> 00:49:16,559
- How much is GameStop up?
- Then, the exchange,

1006
00:49:16,642 --> 00:49:18,436
they halt trading on the stock

1007
00:49:18,519 --> 00:49:21,272
so the short sellers
can cover their positions.

1008
00:49:21,355 --> 00:49:22,940
Is that legal?

1009
00:49:23,024 --> 00:49:25,693
The founder had to declare bankruptcy.
So...

1010
00:49:26,569 --> 00:49:28,070
it was all fine in the end.

1011
00:49:28,154 --> 00:49:30,615
And you knew all that or you looked it up?

1012
00:49:31,908 --> 00:49:33,868
Every fund manager knows that story.

1013
00:49:37,955 --> 00:49:39,332
You looked it up.

1014
00:49:41,167 --> 00:49:43,044
Double checked some numbers maybe.

1015
00:49:52,428 --> 00:49:55,348
[Steve Cohen]
<i>Oh, do you see what's going on at GME?</i>

1016
00:49:55,431 --> 00:49:57,642
- [Gabe] <i>There's more of these idiots.</i>
- [Steve] <i>A lot more.</i>

1017
00:49:57,725 --> 00:50:01,562
- [Gabe] <i>They won't hold much longer.</i>
- [Steve] <i>Oh, Gabe, honey, they're holding.</i>

1018
00:50:01,646 --> 00:50:03,648
It just crossed a hundred.

1019
00:50:03,731 --> 00:50:05,942
[tense, pensive music playing]

1020
00:50:06,025 --> 00:50:07,526
Gabe?

1021
00:50:07,610 --> 00:50:09,028
Where are you?

1022
00:50:13,449 --> 00:50:15,451
You should probably dial in.

1023
00:50:15,534 --> 00:50:17,078
Yeah, be on in one sec.

1024
00:50:17,161 --> 00:50:19,789
[man on TV]
<i>GameStop, extraordinary volatility today</i>.

1025
00:50:19,872 --> 00:50:22,041
<i>We might want
to make this the stock of the day.</i>

1026
00:50:22,124 --> 00:50:25,378
<i>Now that it's gaining 103%.
That is volatility.</i>

1027
00:50:25,461 --> 00:50:27,380
{\an8}<i>I will tell you,
I've never seen anything like it.</i>

1028
00:50:27,463 --> 00:50:29,966
<i>Um, I'm concerned about it deeply.</i>

1029
00:50:30,049 --> 00:50:32,259
<i>I'm calling it the ultimate short squeeze.</i>

1030
00:50:32,343 --> 00:50:34,929
<i>- How much money is being made...</i>
- Holy fucking shit.

1031
00:50:35,012 --> 00:50:37,264
<i>...now we're gonna talk about GameStop.
Those shares...</i>

1032
00:50:37,348 --> 00:50:40,393
- <i>nonstop earning about of 130% today.</i>
- Holy fucking shit!

1033
00:50:40,476 --> 00:50:42,478
<i>As bullish retail traders
frenetically buy shares.</i>

1034
00:50:42,561 --> 00:50:43,396
Holy fucking shit!

1035
00:50:43,479 --> 00:50:44,772
Yo, holy shit!

1036
00:50:45,356 --> 00:50:47,149
- Shit balls.
- Holy shit!

1037
00:50:47,233 --> 00:50:48,859
<i>Look at the chart for the month.</i>

1038
00:50:48,943 --> 00:50:51,487
<i>- It's up 220%.</i>
- [Riri] <i>Oh, fuck!</i>

1039
00:50:52,071 --> 00:50:53,781
- <i>Look there... It's crazy.</i>
- Everything okay?

1040
00:50:53,864 --> 00:50:55,533
[Keith] Holy fucking shit!

1041
00:50:55,616 --> 00:50:56,742
Holy fucking shit!

1042
00:50:56,826 --> 00:51:00,413
{\an8}<i>...if you go short in some of these
elaborate options trades</i>,

1043
00:51:00,496 --> 00:51:02,623
{\an8}<i>you can lose money to infinity.</i>

1044
00:51:02,707 --> 00:51:06,293
[man on TV] <i>GameStop now at 123
and change, another record high.</i>

1045
00:51:06,377 --> 00:51:07,294
Holy fucking shit!

1046
00:51:07,378 --> 00:51:09,588
[man on TV] <i>Completely disconnected
from the fundamentals.</i>

1047
00:51:09,672 --> 00:51:12,675
<i>And this is very much being driven
by retail investors.</i>

1048
00:51:12,758 --> 00:51:14,468
<i>Many of them trading on Robinhood.</i>

1049
00:51:14,552 --> 00:51:17,346
{\an8}<i>When the music stops,
somebody is gonna be left without a seat.</i>

1050
00:51:17,430 --> 00:51:19,056
{\an8}<i>This for casino money only.</i>

1051
00:51:19,140 --> 00:51:21,100
{\an8}<i>They're literally putting the game
in GameStop.</i>

1052
00:51:21,183 --> 00:51:23,144
{\an8}<i>...is the craziest I think I've ever seen.</i>

1053
00:51:23,227 --> 00:51:26,981
<i>True investors never heard of Reddit
a few years ago.</i>

1054
00:51:27,064 --> 00:51:28,858
<i>But for that to drive a short squeeze...</i>

1055
00:51:28,941 --> 00:51:30,317
[man on TV] <i>It is Wall Street Bets.</i>

1056
00:51:30,401 --> 00:51:33,070
<i>It's worth going to the site
because it is incredibly compelling.</i>

1057
00:51:33,154 --> 00:51:35,906
<i>You may think it's froth,
but they are using arguments</i>

1058
00:51:35,990 --> 00:51:37,950
<i>that they think hold up under scrutiny.</i>

1059
00:51:38,034 --> 00:51:40,453
<i>- I just like the stock!</i>
- [Harmony] <i>I can't look.</i>

1060
00:51:40,536 --> 00:51:42,663
- I can't look. I can't look.
- It's up another 4%.

1061
00:51:42,747 --> 00:51:45,041
I'm gonna have a fucking heart attack.
Should we sell?

1062
00:51:45,124 --> 00:51:46,917
And betray your boyfriend?
Absolutely not. No.

1063
00:51:47,001 --> 00:51:48,919
- [man 1 on TV] <i>The stock is up 581%.</i>
- Maybe.

1064
00:51:49,003 --> 00:51:51,088
<i>...they are being very specific:</i>

1065
00:51:51,172 --> 00:51:52,381
<i>- To break the shorts.
- Yes.</i>

1066
00:51:52,465 --> 00:51:54,508
[man 2] <i>I mean, what's going on
in GameStop right now</i>

1067
00:51:54,592 --> 00:51:56,343
<i>conceivably could take
a couple of firms out.</i>

1068
00:51:56,427 --> 00:51:59,180
<i>Hedge funds if they were
stupid enough to be short.</i>

1069
00:51:59,263 --> 00:52:01,223
Babe, how much did we make today?

1070
00:52:02,683 --> 00:52:03,559
Five million.

1071
00:52:04,143 --> 00:52:05,644
[Caroline] And yesterday?

1072
00:52:05,728 --> 00:52:06,812
Four million.

1073
00:52:09,356 --> 00:52:10,191
Babe...

1074
00:52:10,900 --> 00:52:11,942
Yeah?

1075
00:52:12,902 --> 00:52:15,613
We're, like, really fucking rich.

1076
00:52:15,696 --> 00:52:18,908
[pensive music playing]

1077
00:52:22,286 --> 00:52:24,038
How much did we lose today?

1078
00:52:26,582 --> 00:52:27,458
A billion.

1079
00:52:30,086 --> 00:52:31,003
And yesterday?

1080
00:52:32,630 --> 00:52:33,631
A billion.

1081
00:52:37,676 --> 00:52:38,511
[groans]

1082
00:52:38,594 --> 00:52:41,305
{\an8}<i>Some news to bring you right now
is that Melvin Capital Management,</i>

1083
00:52:41,388 --> 00:52:45,434
{\an8}<i>this is the hedge fund
that had shorted this company,</i>

1084
00:52:45,518 --> 00:52:51,107
{\an8}<i>that had effectively been attacked
by an army of investors trying to push up</i>

1085
00:52:51,190 --> 00:52:53,943
{\an8}<i>and press up the stock of GameStop.</i>

1086
00:52:54,026 --> 00:52:56,529
<i>They've taken a rather huge loss...</i>

1087
00:52:56,612 --> 00:52:59,448
Sorry, if you could just
put your head up for a sec?

1088
00:53:00,116 --> 00:53:01,033
Thanks.

1089
00:53:01,534 --> 00:53:02,952
How long've you been down here?

1090
00:53:03,452 --> 00:53:04,286
A few months.

1091
00:53:05,746 --> 00:53:07,081
You like the weather?

1092
00:53:09,250 --> 00:53:12,711
Heat is nice. The humidity not as much.

1093
00:53:12,795 --> 00:53:14,547
I can see that. [laughs]

1094
00:53:14,630 --> 00:53:18,134
- Hm.
- All right, I think you're good to go.

1095
00:53:20,219 --> 00:53:23,222
[tense music playing]

1096
00:53:43,826 --> 00:53:45,744
- Hey!
<i>- Hey, man.</i>

1097
00:53:45,828 --> 00:53:47,580
- Hi.
- <i>It's good to connect.</i>

1098
00:53:47,663 --> 00:53:48,789
You too. Great to be here.

1099
00:53:48,873 --> 00:53:49,957
- Excited.
<i>- I'm glad you are.</i>

1100
00:53:50,040 --> 00:53:51,750
<i>Listen, I want to get right to it.</i>

1101
00:53:51,834 --> 00:53:54,628
<i>From what I'm hearing,
you guys are bankrupt.</i>

1102
00:53:56,380 --> 00:53:57,882
No! What? No.

1103
00:53:57,965 --> 00:54:00,968
<i>'Cause the word on the street
is that you're drowning.</i>

1104
00:54:01,051 --> 00:54:03,220
No, that's... That's crazy.

1105
00:54:03,304 --> 00:54:05,723
- We're doing great.
- <i>You're on the record with that?</i>

1106
00:54:06,307 --> 00:54:07,183
Obviously.

1107
00:54:07,266 --> 00:54:10,436
<i>All right, man. Well, then, we're gonna
get the live feed up right now,</i>

1108
00:54:10,519 --> 00:54:13,105
<i>and then we're gonna get to you
after this next advertising break.</i>

1109
00:54:13,189 --> 00:54:14,940
Perfect, great. Yes, can't wait.

1110
00:54:19,278 --> 00:54:21,280
<i>All right, one more spot
and then you're gonna be up.</i>

1111
00:54:21,363 --> 00:54:24,366
<i>I really do think this is the right time
for you to communicate.</i>

1112
00:54:24,450 --> 00:54:26,452
- Great, yes. Agreed.
- <i>Great. We're gonna do it.</i>

1113
00:54:26,535 --> 00:54:28,954
<i>Address it all head on.
It's gonna be good</i>.

1114
00:54:31,040 --> 00:54:33,209
- No.
- <i>What? Gabe, we're on in 10 seconds.</i>

1115
00:54:33,292 --> 00:54:34,501
I can't do this. I'm sorry.

1116
00:54:34,585 --> 00:54:35,419
<i>Gabe, seriously.</i>

1117
00:54:35,502 --> 00:54:37,171
- Bye, I'm terribly sorry.
<i>- Seriously, c'mon.</i>

1118
00:54:37,254 --> 00:54:39,256
- Good to see you.
- <i>We're going on right now.</i>

1119
00:54:45,763 --> 00:54:46,597
[Yaara] Babe,

1120
00:54:47,765 --> 00:54:48,933
what's the damage?

1121
00:55:08,869 --> 00:55:09,870
[exhales]

1122
00:55:09,954 --> 00:55:12,414
[tense music continues]

1123
00:55:15,334 --> 00:55:18,337
- [seagulls cawing]
- [cell phone ringing]

1124
00:55:21,257 --> 00:55:22,549
Let me guess, you need cash.

1125
00:55:22,633 --> 00:55:24,593
<i>Didn't call Ken first, did you?</i>

1126
00:55:24,677 --> 00:55:26,262
He had Phillips reach out.

1127
00:55:26,762 --> 00:55:28,138
<i>How much did he offer?</i>

1128
00:55:29,640 --> 00:55:31,100
I haven't called him back yet.

1129
00:55:31,183 --> 00:55:32,559
Well, how much do you need?

1130
00:55:32,643 --> 00:55:34,979
You know what? Don't answer that.
The number doesn't matter.

1131
00:55:35,062 --> 00:55:36,563
Whatever it is, I'd love to buy in.

1132
00:55:36,647 --> 00:55:38,649
<i>Tell Ken to fill in the rest.</i>

1133
00:55:38,732 --> 00:55:39,858
Prick.

1134
00:55:41,026 --> 00:55:42,528
[cell phone ringing]

1135
00:55:45,906 --> 00:55:46,949
- [Gabe] <i>Hey, Ken.</i>
- Hey.

1136
00:55:47,032 --> 00:55:50,077
<i>Hi, um... So, I might need...</i>

1137
00:55:50,995 --> 00:55:51,912
<i>Uh...</i>

1138
00:55:52,830 --> 00:55:53,831
<i>A new investor.</i>

1139
00:55:53,914 --> 00:55:55,124
Consider it done.

1140
00:55:55,207 --> 00:55:57,126
<i>Just keep moving forward.</i>

1141
00:55:57,209 --> 00:55:59,753
<i>Don't think about
what Grandpa Melvin used to say.</i>

1142
00:55:59,837 --> 00:56:01,088
Prick.

1143
00:56:02,965 --> 00:56:04,925
- Thank you.
- [man on TV] <i>Both Citadel</i>

1144
00:56:05,009 --> 00:56:08,637
- <i>and Point72 have infused...</i>
- Poor guy.

1145
00:56:08,721 --> 00:56:12,141
<i>...three billion dollars
into Melvin Capital</i>

1146
00:56:12,224 --> 00:56:15,019
- <i>to try to shore up...</i>
- Another goddamn bailout.

1147
00:56:15,102 --> 00:56:16,729
Can you believe this crap?

1148
00:56:16,812 --> 00:56:17,938
Nobody bailed me out

1149
00:56:18,022 --> 00:56:20,941
when Richard left me alone
with two toddlers, a mortgage,

1150
00:56:21,025 --> 00:56:22,234
a shit car that never works.

1151
00:56:22,318 --> 00:56:23,986
You can say "shit" but we can't?

1152
00:56:24,069 --> 00:56:26,030
[Jenny]
It's just so damn unfair and you know it.

1153
00:56:26,113 --> 00:56:30,034
All we've done for the last year
is work our asses off helping people,

1154
00:56:30,117 --> 00:56:32,745
and all we've gotten is one $600 check.

1155
00:56:32,828 --> 00:56:35,789
This idiot effs up just about as bad
as anyone could eff,

1156
00:56:35,873 --> 00:56:38,834
and his friends come running in
with three billion dollars.

1157
00:56:38,917 --> 00:56:41,086
That's why I keep telling you:
you're never gonna win.

1158
00:56:41,170 --> 00:56:43,672
Just take the money and do something nice.
Pay off your mortgage.

1159
00:56:43,756 --> 00:56:45,215
Get that one braces.

1160
00:56:45,799 --> 00:56:47,301
Look who's still holding.

1161
00:56:48,761 --> 00:56:50,763
If he's in, I'm in.

1162
00:56:50,846 --> 00:56:52,723
Yeah, he's still gonna need braces.

1163
00:56:52,806 --> 00:56:53,807
Your teeth are perfect.

1164
00:56:53,891 --> 00:56:57,061
So what? The stock's up $150.
How much higher is it gonna go?

1165
00:56:57,144 --> 00:56:59,355
We control the price now. Not Wall Street.

1166
00:56:59,438 --> 00:57:00,856
And no one on there is selling.

1167
00:57:00,939 --> 00:57:01,899
Shoes.

1168
00:57:01,982 --> 00:57:04,109
- Ugh. You're all so delusional.
- [Jenny] Maybe.

1169
00:57:04,193 --> 00:57:06,528
But look at what we managed to do
with these hedge funds.

1170
00:57:06,612 --> 00:57:08,155
If we keep driving up the price,

1171
00:57:08,238 --> 00:57:11,325
maybe we'll scare more of these guys
into closing out their shorts,

1172
00:57:11,408 --> 00:57:13,410
and then all of that bailout money...

1173
00:57:13,494 --> 00:57:14,828
- [Chris] Wait.
- ...becomes ours.

1174
00:57:14,912 --> 00:57:15,746
Your screen name...

1175
00:57:16,538 --> 00:57:18,082
is Stonkmom?

1176
00:57:22,503 --> 00:57:23,504
- Hey!
- Help your mother.

1177
00:57:23,587 --> 00:57:26,006
- Why me and not Keith?
- Just shut up and do it, okay?

1178
00:57:26,090 --> 00:57:28,217
- Kev, take the potatoes.
- 'Cause you're rich now?

1179
00:57:28,300 --> 00:57:30,302
Mr. 23 million on paper, but I won't sell.

1180
00:57:30,386 --> 00:57:32,554
- Kevin.
- Loser says what?

1181
00:57:33,555 --> 00:57:36,016
- What?
- Kevin, let Keith tell them.

1182
00:57:39,228 --> 00:57:40,104
Tell us what?

1183
00:57:41,730 --> 00:57:44,441
Oh, uh...
I was waiting to tell you in person.

1184
00:57:44,525 --> 00:57:47,569
But the, uh, stock we bet on,
GameStop, is up.

1185
00:57:47,653 --> 00:57:48,737
Ah, good.

1186
00:57:49,863 --> 00:57:52,324
- How much up?
- He's up 23 million, Pop.

1187
00:57:52,908 --> 00:57:53,909
[Steve] You're an asshole.

1188
00:57:53,992 --> 00:57:56,453
- Don't kid us.
- Uh, it's real.

1189
00:57:56,537 --> 00:57:59,123
Yeah, it's real.
And he's refusing to sell.

1190
00:58:00,999 --> 00:58:02,042
What is going on?

1191
00:58:03,085 --> 00:58:04,420
- You're pulling our leg.
- No.

1192
00:58:04,503 --> 00:58:06,338
Your son's a huge Internet celebrity now.

1193
00:58:06,422 --> 00:58:09,174
Millions of people including "Stonkmom"
thinks he's some, like,

1194
00:58:09,258 --> 00:58:11,343
- I don't know, investment genius.
- No, he is a genius.

1195
00:58:11,427 --> 00:58:12,553
No, he's not.

1196
00:58:12,636 --> 00:58:14,304
You're up 23 million?

1197
00:58:15,305 --> 00:58:16,724
And you're not selling.

1198
00:58:18,350 --> 00:58:19,685
Jesus, Mary and Joseph.

1199
00:58:19,768 --> 00:58:21,186
What the fuck is wrong with you?

1200
00:58:21,270 --> 00:58:23,522
Do you even know how much $23 million is?

1201
00:58:23,605 --> 00:58:24,773
And you're gonna let it ride?

1202
00:58:24,857 --> 00:58:26,859
- What's the matter with you?
- I know what I'm doing.

1203
00:58:26,942 --> 00:58:29,945
Why aren't you selling?
Wait! Is this illegal? Are you in trouble?

1204
00:58:30,028 --> 00:58:32,072
No. No, he's not in trouble.
It's totally legal.

1205
00:58:32,156 --> 00:58:33,991
He's posting his balance sheet
on the Internet.

1206
00:58:34,074 --> 00:58:35,159
[Keith] Hedge fund managers,

1207
00:58:35,242 --> 00:58:37,619
they go on CNBC all the time
to pump up the stock.

1208
00:58:37,703 --> 00:58:40,080
All I do is post my balance sheet
on Wall Street Bets

1209
00:58:40,164 --> 00:58:43,333
- after market close.
- You post your balance sheet?

1210
00:58:43,417 --> 00:58:44,501
Yeah, the same idiot

1211
00:58:44,585 --> 00:58:47,296
who left a fresh pair of Nikes out on
the bleachers for anyone to take.

1212
00:58:47,379 --> 00:58:49,673
- So, you admit they were stolen!
- I admit you're a moron.

1213
00:58:49,798 --> 00:58:50,632
At least I won.

1214
00:58:50,716 --> 00:58:52,885
What's the point
if you let some dipshit steal the prize?

1215
00:58:52,968 --> 00:58:55,929
- You would've broke a four with Zooms.
- A four minute mile isn't everything.

1216
00:58:56,013 --> 00:58:57,806
Maybe we should get in touch with Briggsy.

1217
00:58:57,890 --> 00:58:59,808
- You know, he works in finance.
- Yes.

1218
00:58:59,892 --> 00:59:02,019
You think Briggsy knows
more about this than Keith does?

1219
00:59:02,102 --> 00:59:04,062
Can you talk about why
you're putting your stocks

1220
00:59:04,146 --> 00:59:06,315
- in the Wall Street Journal?
- Wall Street Bets.

1221
00:59:06,398 --> 00:59:09,151
- What if someone kidnaps the baby?
- No one's gonna kidnap the baby.

1222
00:59:09,234 --> 00:59:11,028
- Nobody wants that baby.
- [Steve] I'm saying,

1223
00:59:11,111 --> 00:59:12,362
if we're gonna talk to somebody,

1224
00:59:12,446 --> 00:59:14,615
- you need to talk to Briggsy.
- [Elaine] Yes.

1225
00:59:14,698 --> 00:59:15,616
Enough!

1226
00:59:16,700 --> 00:59:18,285
You guys, Keith has literally

1227
00:59:18,368 --> 00:59:20,579
poured his heart and his soul
into this for the past year.

1228
00:59:20,662 --> 00:59:21,955
He knows what he's doing.

1229
00:59:27,711 --> 00:59:30,214
I know it's been a tough time, Elaine.

1230
00:59:38,138 --> 00:59:39,223
You should still sell.

1231
00:59:41,642 --> 00:59:42,810
Think you should sell.

1232
00:59:44,937 --> 00:59:46,647
[professor speaking indistinctly]

1233
00:59:46,730 --> 00:59:48,941
And just fuck the principle
of the whole thing?

1234
00:59:49,024 --> 00:59:50,901
I don't like it any more than you do.

1235
00:59:50,984 --> 00:59:52,945
[tense, pensive music playing]

1236
01:00:06,250 --> 01:00:07,709
You don't think that he's selling?

1237
01:00:07,793 --> 01:00:08,627
[Harmony] No!

1238
01:00:09,127 --> 01:00:09,962
Ladies.

1239
01:00:11,505 --> 01:00:12,339
Masks.

1240
01:00:15,884 --> 01:00:19,263
Kids are with their father for a few days.
So, I'm going to Florida.

1241
01:00:19,346 --> 01:00:22,015
You finally fucking sold.
Halle­fuckin-lujah.

1242
01:00:22,099 --> 01:00:24,142
No, I'm putting it on my Visa.

1243
01:00:24,226 --> 01:00:25,227
You shitting me?

1244
01:00:25,310 --> 01:00:27,396
You're worth hundreds of thousands
of dollars in stock,

1245
01:00:27,479 --> 01:00:29,022
and you're amassing credit card debt.

1246
01:00:29,106 --> 01:00:31,024
You really are out of your mind.

1247
01:00:31,108 --> 01:00:35,028
No, babe, I'm all in. Diamond hand.

1248
01:00:35,112 --> 01:00:37,114
Did you know that Gabe Plotkin
gave an interview?

1249
01:00:37,197 --> 01:00:39,658
He's been getting death threats,
anti-Semitic messages

1250
01:00:39,741 --> 01:00:41,994
- from these WSB guys.
- It was ten comments.

1251
01:00:42,077 --> 01:00:44,913
There's always bad apples.
And the moderators deleted it right away.

1252
01:00:44,997 --> 01:00:46,999
[Chris] You're just gonna ride this thing
till zero?

1253
01:00:47,082 --> 01:00:49,209
No. I'm buying call options.

1254
01:00:49,293 --> 01:00:52,754
- That could go to 600 by tomorrow.
- Your kid is never getting braces.

1255
01:01:00,762 --> 01:01:03,307
[Marcos] <i>There's 8 million people in there
and they're all holding.</i>

1256
01:01:03,390 --> 01:01:04,433
<i>It's only going to go up.</i>

1257
01:01:04,516 --> 01:01:05,976
[in Spanish] It's a joke, Marcos.

1258
01:01:06,059 --> 01:01:08,020
But you're treating it
like it's real life.

1259
01:01:08,896 --> 01:01:09,730
Pops.

1260
01:01:11,940 --> 01:01:12,774
Look.

1261
01:01:13,817 --> 01:01:16,236
- This is real. Hold it. Look.
- [in English] Hey.

1262
01:01:16,320 --> 01:01:17,195
Aw, man.

1263
01:01:18,864 --> 01:01:20,574
Eight million people is real.

1264
01:01:20,657 --> 01:01:22,242
[in Spanish] H-O-D-L.

1265
01:01:22,951 --> 01:01:26,413
Eight million don't even know
how to spell "hold."

1266
01:01:26,496 --> 01:01:27,331
It's a joke.

1267
01:01:27,414 --> 01:01:30,083
- [woman speaks in Spanish] A corny joke.
- [in English] It's not funny.

1268
01:01:33,879 --> 01:01:34,713
Mom,

1269
01:01:36,048 --> 01:01:37,090
look.

1270
01:01:37,174 --> 01:01:39,718
I got $175,000 in stock right now.

1271
01:01:39,801 --> 01:01:40,886
[in Spanish] What?

1272
01:01:40,969 --> 01:01:41,845
Like serious money,

1273
01:01:41,929 --> 01:01:44,932
like I could get you a house
and get you up out of here, kind of money.

1274
01:01:45,015 --> 01:01:46,099
Baby.

1275
01:01:46,183 --> 01:01:48,518
Where did you get the money to buy this?

1276
01:01:48,602 --> 01:01:49,603
[father] Uh-huh.

1277
01:01:49,686 --> 01:01:52,481
I bought call options, for cheap.

1278
01:01:52,564 --> 01:01:55,567
- And they hit.
- [in English] So, now you're gonna sell?

1279
01:01:55,651 --> 01:01:56,985
Nah. No, I buy more.

1280
01:01:57,819 --> 01:01:59,655
[in Spanish] At this price!?

1281
01:01:59,738 --> 01:02:01,698
When they hit,
I'm gonna buy you a mansion.

1282
01:02:01,782 --> 01:02:02,783
It's gonna be crazy.

1283
01:02:02,866 --> 01:02:05,577
My son, I don't need a mansion.

1284
01:02:07,496 --> 01:02:08,872
<i>Papi.</i>

1285
01:02:09,247 --> 01:02:10,415
Be careful.

1286
01:02:10,916 --> 01:02:13,293
Don't get addicted to this, my son.

1287
01:02:13,377 --> 01:02:15,003
This can be like a drug.

1288
01:02:21,051 --> 01:02:25,806
{\an8}<i>Some breaking news right now
on what has turned into the soap opera</i>

1289
01:02:25,889 --> 01:02:30,143
{\an8}<i>and, uh, saga of the markets right now.
And that is the story of GameStop.</i>

1290
01:02:30,227 --> 01:02:32,938
<i>A month ago today, it was trading
at about 20 bucks per share.</i>

1291
01:02:33,021 --> 01:02:35,107
<i>Two days ago, it was under $80.</i>

1292
01:02:35,190 --> 01:02:38,527
<i>Today, nearly $350 a share.</i>

1293
01:02:38,610 --> 01:02:42,572
{\an8}<i>The GameStop stock frenzy even now
has the attention of the White House.</i>

1294
01:02:42,656 --> 01:02:44,992
{\an8}<i>...our economic team
including Secretary Yellen and others</i>

1295
01:02:45,075 --> 01:02:46,660
{\an8}<i>are monitoring the situation.</i>

1296
01:02:46,743 --> 01:02:49,079
{\an8}<i>You're witnessing
the French Revolution of finance.</i>

1297
01:02:49,162 --> 01:02:50,497
{\an8}<i>There is a rebellion aspect to it.</i>

1298
01:02:50,580 --> 01:02:52,582
{\an8}<i>There is
an anti-establishment aspect to it.</i>

1299
01:02:52,666 --> 01:02:54,793
{\an8}<i>I don't know if Wall Street's ever seen it
like this.</i>

1300
01:02:54,876 --> 01:02:56,378
{\an8}<i>- No. It's generational.
- We never have.</i>

1301
01:02:56,461 --> 01:02:58,088
{\an8}<i>It's like generational injustices.</i>

1302
01:02:58,171 --> 01:03:01,550
{\an8}[man] <i>This is like
little poor guys vs. rich guys.</i>

1303
01:03:01,633 --> 01:03:04,428
<i>- And poor guys are winning right now</i>.
- ["Seven Nation Army" playing]

1304
01:03:04,511 --> 01:03:06,888
{\an8}[woman] <i>If you're new here
and you're trying to make a profit,</i>

1305
01:03:06,972 --> 01:03:08,849
{\an8}<i>- fuck off!
- Stop what you're doing, and listen.</i>

1306
01:03:08,932 --> 01:03:11,226
<i>I own GameStop on Robinhood
and I am not selling.</i>

1307
01:03:11,309 --> 01:03:14,938
<i>Hold. All you need to do is hold.
Keep fucking holding.</i>

1308
01:03:15,022 --> 01:03:18,650
<i>Soon the Tendieman comes
to send our rocket to the sun.</i>

1309
01:03:18,734 --> 01:03:21,903
<i>See this right here is the human being
who's largely responsible</i>

1310
01:03:21,987 --> 01:03:23,780
<i>for all this GameStop stuff.</i>

1311
01:03:23,864 --> 01:03:30,162
<i>Just a pure specimen.
A God-like undefeatable creature.</i>

1312
01:03:30,245 --> 01:03:33,790
<i>This is what excellence looks like.</i>

1313
01:03:33,874 --> 01:03:34,916
<i>I just like the stock.</i>

1314
01:03:35,000 --> 01:03:38,545
<i>Yesterday he posted this,
that he's in profit, wait for it...</i>

1315
01:03:39,546 --> 01:03:42,090
<i>Forty-seven million.</i>

1316
01:03:43,425 --> 01:03:45,802
- [man 1] <i>What the fuck is happening?</i>
- [tense music playing]

1317
01:03:45,886 --> 01:03:49,347
- [man 2] What the fuck?
- [students clamoring]

1318
01:03:49,431 --> 01:03:50,891
Hey, did you try a different browser?

1319
01:03:50,974 --> 01:03:53,185
- I plugged the browser.
- [James] Shit, we're fucked.

1320
01:03:54,352 --> 01:03:55,520
Bro, what the fuck?

1321
01:03:55,604 --> 01:03:57,647
- What the fuck, dude?
- I told you this shit is rigged.

1322
01:03:59,066 --> 01:04:00,192
What the fuck is going on?

1323
01:04:02,736 --> 01:04:03,945
I can't get it to load.

1324
01:04:06,615 --> 01:04:07,616
[cell phone chimes]

1325
01:04:10,410 --> 01:04:11,328
Fuck!

1326
01:04:15,624 --> 01:04:16,458
What?

1327
01:04:19,628 --> 01:04:21,421
{\an8}They shut down Wall Street Bets.

1328
01:04:21,922 --> 01:04:24,925
{\an8}- What?
- "Hateful and discriminatory content."

1329
01:04:25,008 --> 01:04:26,635
That stuff has always been on there.

1330
01:04:32,140 --> 01:04:33,475
That's weird.

1331
01:04:33,558 --> 01:04:34,476
No?

1332
01:04:35,519 --> 01:04:38,855
I mean, it's like they're trying
to stop people from talking to each other.

1333
01:04:38,939 --> 01:04:40,148
[buzzing]

1334
01:04:46,196 --> 01:04:47,364
Babe, are you gonna get that?

1335
01:04:47,447 --> 01:04:48,281
Yes.

1336
01:04:48,365 --> 01:04:49,199
Oh.

1337
01:04:51,326 --> 01:04:52,160
Hello?

1338
01:04:53,829 --> 01:04:56,790
Ah, yes, I am...

1339
01:04:57,290 --> 01:05:00,544
I am the Roaring Kitty
and Deep F-ing Value.

1340
01:05:02,337 --> 01:05:05,757
Ah, no, but nobody ever asked me.

1341
01:05:07,843 --> 01:05:09,177
Oh, okay.

1342
01:05:09,261 --> 01:05:11,972
Sir, I just want to say
how grateful I am for this job

1343
01:05:12,055 --> 01:05:13,890
and how much it means to me and my family.

1344
01:05:13,974 --> 01:05:16,309
I would never let a hobby jeopardize...

1345
01:05:18,019 --> 01:05:19,980
Okay. I understand.

1346
01:05:25,944 --> 01:05:28,405
- Yeah?
- It's MassMutual. They're...

1347
01:05:28,488 --> 01:05:31,825
getting calls from reporters "concerned"
about my "outside activities."

1348
01:05:31,908 --> 01:05:33,702
Was all this against the rules?

1349
01:05:33,785 --> 01:05:36,621
I wasn't...? Maybe now it is.

1350
01:05:36,705 --> 01:05:37,539
Okay.

1351
01:05:40,584 --> 01:05:42,127
Well, what was that call?

1352
01:05:43,753 --> 01:05:45,213
- Keith?
- It's okay.

1353
01:05:45,297 --> 01:05:47,340
- What, are you going to lose your job?
- It's fine.

1354
01:05:48,466 --> 01:05:50,302
- They gave me a choice.
- Between what?

1355
01:05:50,385 --> 01:05:52,095
Between your job and Roaring Kitty?

1356
01:05:52,179 --> 01:05:54,014
- [baby crying over monitor]
- Uh...

1357
01:05:54,097 --> 01:05:56,892
- Resign or I'm fired.
- That's what he just said?

1358
01:05:56,975 --> 01:05:58,185
[crying continues]

1359
01:05:58,268 --> 01:05:59,102
I got it.

1360
01:06:01,396 --> 01:06:02,772
[Harmony] <i>Wall Street Bets is down,</i>

1361
01:06:02,856 --> 01:06:04,357
<i>- can't see Kitty's balance sheet.
- Fuck.</i>

1362
01:06:04,441 --> 01:06:05,609
I don't know what to do.

1363
01:06:06,109 --> 01:06:07,194
This could be the sell-off.

1364
01:06:07,277 --> 01:06:09,237
I really don't wanna do that.

1365
01:06:09,321 --> 01:06:12,407
Well, me neither.
But you can't let it go to zero.

1366
01:06:13,283 --> 01:06:15,619
It's 150 grand. You need that money.

1367
01:06:15,702 --> 01:06:18,079
And nobody is gonna hold
if they can't see what he's doing.

1368
01:06:20,790 --> 01:06:22,250
Close your eyes and count to three.

1369
01:06:22,959 --> 01:06:23,793
One.

1370
01:06:25,795 --> 01:06:26,713
- Two.
- Two.

1371
01:06:27,923 --> 01:06:28,924
{\an8}- Three.
- Three.

1372
01:06:32,594 --> 01:06:34,638
- ["Boss" blaring over speakers]
- Your phone's ringing.

1373
01:06:34,721 --> 01:06:36,848
This is the sound of the world.

1374
01:06:36,932 --> 01:06:38,558
Your phone is ringing!

1375
01:06:38,642 --> 01:06:42,687
Oh, Robinhood. Yeah. It's an app.

1376
01:06:43,271 --> 01:06:44,564
It's on the phone.

1377
01:06:44,648 --> 01:06:46,942
- Yeah, no, your phone is ringing.
- Oh.

1378
01:06:47,984 --> 01:06:49,069
Yes.

1379
01:06:49,152 --> 01:06:50,278
Yes...

1380
01:06:50,362 --> 01:06:53,156
<i>♪ I'm a boss in a fucking dress... ♪</i>

1381
01:06:53,240 --> 01:06:55,075
Slow down, Norm, what did you say?

1382
01:06:55,575 --> 01:06:59,996
The NSCC just sent us a file,
they want a deposit of three billion

1383
01:07:00,080 --> 01:07:01,706
to clear all the trades coming in.

1384
01:07:02,415 --> 01:07:03,708
Sorry.

1385
01:07:03,792 --> 01:07:04,793
Wait, who?

1386
01:07:04,876 --> 01:07:10,340
They're a subsidiary of the DTCC.
And they're requesting three billion.

1387
01:07:10,423 --> 01:07:13,260
Ah... Okay. Sorry,
it's a little loud in here.

1388
01:07:13,343 --> 01:07:15,303
I thought you just said three billion.

1389
01:07:15,804 --> 01:07:16,846
<i>I did!</i>

1390
01:07:18,139 --> 01:07:20,850
- But we don't have three billion, Norm.
- That's correct.

1391
01:07:20,934 --> 01:07:23,895
<i>We've only ever raised two billion
in the history of the company.</i>

1392
01:07:24,771 --> 01:07:26,731
Holy fuck! What if we don't pay?

1393
01:07:26,815 --> 01:07:28,191
They shut us down.

1394
01:07:29,150 --> 01:07:32,153
The IPO, like, everything... poof.

1395
01:07:32,237 --> 01:07:35,031
Gretchen, Dan and I are going to
jump on a call with Citadel at 9.

1396
01:07:38,868 --> 01:07:41,913
Maybe this would be a good time
for me to chat with Ken Griffin.

1397
01:07:41,997 --> 01:07:44,624
<i>Sure. We'll mention that.</i>

1398
01:07:46,209 --> 01:07:47,502
I can't sleep.

1399
01:07:47,585 --> 01:07:48,545
Me neither.

1400
01:07:49,045 --> 01:07:50,338
I just feel sick!

1401
01:07:51,339 --> 01:07:52,924
We'll buy it back first thing.

1402
01:07:54,759 --> 01:07:56,177
Please shut up.

1403
01:08:07,480 --> 01:08:10,483
[tense, pensive music playing]

1404
01:08:11,026 --> 01:08:12,485
What the fuck.

1405
01:08:15,572 --> 01:08:16,698
Oh! What the fuck!

1406
01:08:17,741 --> 01:08:19,826
- What the fuck!
- Okay, let me try.

1407
01:08:20,910 --> 01:08:22,287
Is it frozen?

1408
01:08:27,542 --> 01:08:29,336
They cut off the buy option.

1409
01:08:30,045 --> 01:08:31,588
What?! That's fucking criminal.

1410
01:08:31,671 --> 01:08:32,881
[Vlad] I can't hear you, Baiju!

1411
01:08:32,964 --> 01:08:34,257
[Baiju] <i>What the fuck did you do?</i>

1412
01:08:34,341 --> 01:08:35,967
- Calm down.
- Me calm down?

1413
01:08:36,051 --> 01:08:37,552
You shut down trading on GameStop?

1414
01:08:37,635 --> 01:08:38,720
<i>Not all trading.</i>

1415
01:08:38,803 --> 01:08:39,888
Norm worked it out.

1416
01:08:39,971 --> 01:08:43,433
The DTCC agreed to lower the deposit
to 700 million

1417
01:08:43,516 --> 01:08:45,602
if we shut off buying,
and that's what I did.

1418
01:08:45,685 --> 01:08:47,645
<i>- The Depository Trade Commission?</i>
- [blender whirs]

1419
01:08:47,729 --> 01:08:49,898
<i>They're like one degree away
from Ken Griffin.</i>

1420
01:08:49,981 --> 01:08:52,108
- One more time, Baiju.
- [blender whirs]

1421
01:08:52,192 --> 01:08:53,109
...butt boys!

1422
01:08:55,111 --> 01:08:57,238
- What?
<i>- It's not going to be okay.</i>

1423
01:08:57,322 --> 01:08:58,490
You need to fix this...

1424
01:08:58,573 --> 01:09:00,116
Shh. I know, it's okay.

1425
01:09:00,992 --> 01:09:02,410
I did fix it, Baiju.

1426
01:09:04,621 --> 01:09:07,332
<i>We've been watching shares
of GameStop all day long</i>

1427
01:09:07,415 --> 01:09:11,002
<i>after hitting a staggering high of $483.</i>

1428
01:09:11,086 --> 01:09:13,963
<i>The shares are now down to about 140.</i>

1429
01:09:14,047 --> 01:09:16,925
<i>Now, the best we can tell
is the Robinhood app</i>

1430
01:09:17,008 --> 01:09:21,554
<i>that seems to have triggered what really
has become a panic sell-off in this name.</i>

1431
01:09:21,638 --> 01:09:26,184
<i>And so if you're a retail investor
or a Reddit user and you've held,</i>

1432
01:09:26,267 --> 01:09:28,937
<i>well, you are feeling some serious pain
right now.</i>

1433
01:09:30,146 --> 01:09:31,314
Oh God.

1434
01:09:32,774 --> 01:09:33,608
Fuck.

1435
01:09:33,691 --> 01:09:35,568
[man 1 on TV]
<i>The criticism centered on Robinhood</i>

1436
01:09:35,652 --> 01:09:39,531
<i>for abandoning their followers here
in favor of helping those who had shorted</i>

1437
01:09:39,614 --> 01:09:41,074
<i>all these stocks in the first place.</i>

1438
01:09:41,157 --> 01:09:43,535
[woman] <i>I don't particularly like the move
on Robinhood today.</i>

1439
01:09:43,618 --> 01:09:45,328
<i>I'm talking to people this morning
that say,</i>

1440
01:09:45,412 --> 01:09:47,205
<i>"Okay, that is anti-capitalism.</i>

1441
01:09:47,288 --> 01:09:48,706
<i>- You can't do that."</i>
- Fuck you!

1442
01:09:48,790 --> 01:09:53,420
[man 2] <i>There's been some controversy
about Citadel and some vague accusations</i>

1443
01:09:53,503 --> 01:09:56,589
<i>that somehow Citadel may have been
involved in Robinhood's decision, Wolf,</i>

1444
01:09:56,673 --> 01:10:00,051
{\an8}<i>to stop or restrict trading
in GameStop and other shorts...</i>

1445
01:10:00,135 --> 01:10:01,094
[Yaara] <i>Who is it from?</i>

1446
01:10:01,177 --> 01:10:03,888
{\an8}The Tendieman...?

1447
01:10:05,765 --> 01:10:06,683
Come back inside.

1448
01:10:06,766 --> 01:10:08,226
[man] Diamond fucking hands!

1449
01:10:10,395 --> 01:10:14,566
<i>We all know how I feel about him.
I think he's a rat, a liar.</i>

1450
01:10:14,649 --> 01:10:19,404
<i>Okay, Vlad, you know everybody here
who's watching us hates your guts, right?</i>

1451
01:10:20,405 --> 01:10:23,908
<i>Thank you, Dave, that's, uh...
that's what I hear.</i>

1452
01:10:23,992 --> 01:10:27,829
<i>But I'm a really big fan of your show
and hopefully I can answer</i>

1453
01:10:27,912 --> 01:10:29,956
<i>- some of your questions.</i>
- [man] <i>Vlad, can you hear us?</i>

1454
01:10:30,039 --> 01:10:32,959
<i>- Vlad the stock impaler.</i>
- Yes, I'm here... Hi.

1455
01:10:33,042 --> 01:10:35,086
<i>Spill the beans, man,
what happened last week?</i>

1456
01:10:35,170 --> 01:10:37,881
<i>Why couldn't people buy GameStop shares?</i>

1457
01:10:37,964 --> 01:10:39,799
<i>The people demand an answer.</i>

1458
01:10:39,883 --> 01:10:43,344
<i>To give you some background,
I'm chief executive of Robinhood...</i>

1459
01:10:43,428 --> 01:10:44,679
<i>- Robbing executive.
- We know.</i>

1460
01:10:44,762 --> 01:10:46,347
And I just want to say,

1461
01:10:46,431 --> 01:10:49,017
- we had no liquidity problem.
<i>- Well, did something maybe shady</i>

1462
01:10:49,100 --> 01:10:50,852
<i>go down?
Seems weird that you'd get a sudden</i>

1463
01:10:50,935 --> 01:10:52,979
<i>- 10 billion dollar demand...</i>
- Three, three billion...

1464
01:10:53,062 --> 01:10:56,065
<i>Okay, but three billion just suddenly,
out of nowhere and...</i>

1465
01:10:56,149 --> 01:11:00,403
<i>Well, I wouldn't impute
any shadiness to any of this, um...</i>

1466
01:11:00,487 --> 01:11:02,614
I don't have the full context, uh,

1467
01:11:02,697 --> 01:11:05,116
as to what was going on with the NSCC to,

1468
01:11:05,200 --> 01:11:08,161
to, uh, make these calculations.

1469
01:11:08,244 --> 01:11:10,622
<i>To what degree
are you beholden to Citadel?</i>

1470
01:11:10,705 --> 01:11:14,000
<i>I mean, like, basically,
if Citadel is unhappy, then what happens?</i>

1471
01:11:14,083 --> 01:11:16,961
- [Vlad] <i>It was a hard temperance.
- Is anyone holding you hostage right now?</i>

1472
01:11:17,045 --> 01:11:17,879
<i>Uh, no.</i>

1473
01:11:17,962 --> 01:11:21,758
{\an8}<i>There's just no rational explanation
on why they would do what they did</i>

1474
01:11:21,841 --> 01:11:24,469
{\an8}<i>without outside pressure, interference.</i>

1475
01:11:24,552 --> 01:11:27,138
{\an8}<i>And they basically cratered the stock
on purpose.</i>

1476
01:11:27,222 --> 01:11:30,183
{\an8}<i>So, I just don't believe
anything that guy says.</i>

1477
01:11:30,266 --> 01:11:32,560
{\an8}<i>I wanted to take a cold shower
after seeing him say that.</i>

1478
01:11:32,644 --> 01:11:35,230
{\an8}<i>Robinhood is facing lawsuits,
we know that.</i>

1479
01:11:35,313 --> 01:11:37,607
{\an8}<i>After halting trade, they are accused</i>

1480
01:11:37,690 --> 01:11:39,776
{\an8}<i>- of rigging the market.
- When the big guys,</i>

1481
01:11:39,859 --> 01:11:43,029
{\an8}<i>including one of your main investors
in your company started to lose,</i>

1482
01:11:43,112 --> 01:11:45,698
{\an8}<i>you shut down the game
to starve the little guy.</i>

1483
01:11:45,782 --> 01:11:48,701
{\an8}<i>They're stealing from the poor
and giving back to the rich.</i>

1484
01:11:48,785 --> 01:11:52,080
{\an8}<i>They're robbing from the 'hood! Why?</i>

1485
01:11:52,163 --> 01:11:55,124
{\an8}<i>- I want to be 100% clear.
- All of you guys deserve to burn in hell.</i>

1486
01:11:55,208 --> 01:11:56,501
<i>- This decision...
- And go to jail.</i>

1487
01:11:56,584 --> 01:11:59,629
<i>...to restrict trade was not made
on the direction of Citadel</i>

1488
01:11:59,712 --> 01:12:01,673
<i>- or any market maker.
- What the fuck? Fuck you!</i>

1489
01:12:01,756 --> 01:12:04,008
<i>- And your Mama Dukes, you fraud.
- Fuck this guy.</i>

1490
01:12:04,884 --> 01:12:07,387
This guy is just
an obfuscating piece of shit.

1491
01:12:07,470 --> 01:12:08,680
Fucker.

1492
01:12:08,763 --> 01:12:11,015
There's only one man
I wanna hear from right now.

1493
01:12:11,099 --> 01:12:13,643
And Wall Street Bets is down,
so it's crickets.

1494
01:12:13,726 --> 01:12:15,228
It's crickets out here.

1495
01:12:16,104 --> 01:12:17,230
Say it with me.

1496
01:12:17,730 --> 01:12:19,732
- Where my pussy at!
- Where my pussy at!

1497
01:12:20,441 --> 01:12:21,985
- [man 1] Mr. Gill!
- [man 2] Mr. Gill!

1498
01:12:22,777 --> 01:12:26,614
- Roaring Kitty, I fucking love you!
- Keith Gill!

1499
01:12:26,698 --> 01:12:28,366
- Keith Gill, please!
- Okay.

1500
01:12:28,449 --> 01:12:31,494
- Please.
- Oh, sorry, this is, like, my house, uh...

1501
01:12:31,578 --> 01:12:33,079
- You want my autograph?
- Yeah.

1502
01:12:33,997 --> 01:12:34,872
You've been served.

1503
01:12:37,959 --> 01:12:40,795
[man 3]
Hey, to the moon, baby! To the moon.

1504
01:12:40,878 --> 01:12:42,005
Holy shit.

1505
01:12:42,088 --> 01:12:43,881
[crowd clamoring]

1506
01:12:46,926 --> 01:12:50,763
Sorry to interrupt. We need to talk
about the GameStop situation.

1507
01:12:50,847 --> 01:12:52,140
I thought Mecane was handling it.

1508
01:12:52,223 --> 01:12:54,976
So did we. But the committee's
specifically requested you, sir.

1509
01:12:55,059 --> 01:12:57,186
If they want specifics,
they can have Mecane.

1510
01:12:57,895 --> 01:12:59,814
It's not a choice, unfortunately.

1511
01:13:04,027 --> 01:13:05,278
Shitballs.

1512
01:13:05,778 --> 01:13:08,072
{\an8}[keyboard clacking]

1513
01:13:08,156 --> 01:13:09,032
[Caroline] Keith?

1514
01:13:10,575 --> 01:13:13,661
- A congressional subpoena.
- I never did anything illegal.

1515
01:13:13,745 --> 01:13:15,121
And I always had disclaimers...

1516
01:13:15,788 --> 01:13:17,999
Why would you have disclaimers
if you weren't worried?

1517
01:13:18,541 --> 01:13:20,960
They're standard practice, Caroline,
everyone has them.

1518
01:13:25,965 --> 01:13:26,799
Babe...

1519
01:13:30,345 --> 01:13:32,889
- the answer is not in your computer.
- Whoa!

1520
01:13:33,514 --> 01:13:37,477
There's a dozen reporters on our lawn!
You have to testify before Congress.

1521
01:13:38,144 --> 01:13:40,897
- The game has changed.
- I know. I hear you.

1522
01:13:40,980 --> 01:13:42,315
I don't think you do.

1523
01:13:47,862 --> 01:13:49,280
Oh, my God. We're...

1524
01:13:50,823 --> 01:13:52,158
We're gonna go to my mother's.

1525
01:13:52,241 --> 01:13:54,327
No, she has terrible Wi-Fi.

1526
01:13:54,410 --> 01:13:56,371
I'm not talking about you.

1527
01:13:56,454 --> 01:13:58,247
I'm talking about me and her.

1528
01:13:58,998 --> 01:14:00,541
You need to figure this out.

1529
01:14:13,721 --> 01:14:15,598
- Where are you going?
- To the track.

1530
01:14:15,682 --> 01:14:17,934
- You were just on the track.
- I'm going again.

1531
01:14:18,017 --> 01:14:20,812
[tense music playing]

1532
01:14:28,444 --> 01:14:30,863
Hi. Can I interest you in
some champagne or a mimosa?

1533
01:14:30,947 --> 01:14:33,157
- Is it free?
- It is when you sit up here.

1534
01:14:33,241 --> 01:14:35,159
Well, there is a last time for everything.

1535
01:14:35,243 --> 01:14:36,661
Oh, you'll be back.

1536
01:14:36,744 --> 01:14:40,915
I had half a million in stocks last week,
but Wall Street cheated.

1537
01:14:41,416 --> 01:14:42,583
Surprise, surprise.

1538
01:14:44,377 --> 01:14:45,628
I could have cashed out.

1539
01:14:46,754 --> 01:14:48,548
I could have paid my mortgage.

1540
01:14:48,631 --> 01:14:50,216
Could have gotten my kid braces.

1541
01:14:50,299 --> 01:14:51,134
Got a new car.

1542
01:14:51,217 --> 01:14:52,885
Honey, I'm gonna get you
something stronger.

1543
01:14:52,969 --> 01:14:54,387
- Thank you.
- You're welcome.

1544
01:15:00,518 --> 01:15:01,644
[Kevin] Meow!

1545
01:15:01,728 --> 01:15:02,770
Kitty!

1546
01:15:02,854 --> 01:15:05,481
You can't just eat other people's food.
They do reviews, right?

1547
01:15:05,565 --> 01:15:06,524
Very funny.

1548
01:15:06,607 --> 01:15:07,442
Here.

1549
01:15:08,025 --> 01:15:09,318
What's this?

1550
01:15:09,402 --> 01:15:10,778
Look, they were on sale, all right,

1551
01:15:10,862 --> 01:15:13,823
- before you get all emotional and shit.
- Holy shit, you fucking softy.

1552
01:15:13,906 --> 01:15:16,033
Who put you up to this? Caro? Ma?

1553
01:15:16,117 --> 01:15:17,827
No, Dad called me in tears,

1554
01:15:17,910 --> 01:15:19,662
said my big brother
needed some moral support.

1555
01:15:19,746 --> 01:15:22,123
Ah, fuck off. I can't.

1556
01:15:22,206 --> 01:15:24,208
C'mon, man.
Will you at least try 'em on? Please?

1557
01:15:24,292 --> 01:15:26,252
Try 'em. C'mon,
you're the richest man in Brockton,

1558
01:15:26,335 --> 01:15:28,838
- you dress like an asshole.
- I lost 15 million yesterday.

1559
01:15:28,921 --> 01:15:30,798
And another 15 the day before that.

1560
01:15:30,882 --> 01:15:33,176
You're still the richest man in Brockton,
like, by far.

1561
01:15:33,843 --> 01:15:37,680
Bro, you got rich dudes
pissing in their pants right now.

1562
01:15:37,764 --> 01:15:40,475
I mean, c'mon, man, how many people
from Brockton High can say that?

1563
01:15:40,558 --> 01:15:41,642
This has gone crazy.

1564
01:15:41,726 --> 01:15:44,479
I got reporters hounding me
outside my house.

1565
01:15:44,562 --> 01:15:46,606
Yeah, man, me too.
They're coming after you.

1566
01:15:48,191 --> 01:15:49,901
You didn't talk to them, did you?

1567
01:15:49,984 --> 01:15:53,237
What do I look like? I said no.
I said give me 50 grand maybe.

1568
01:15:53,321 --> 01:15:54,322
Tell me you're kidding.

1569
01:15:54,405 --> 01:15:56,991
If you give me 20, maybe
we wouldn't have to deal with this shit.

1570
01:15:57,074 --> 01:15:58,034
What is wrong with you?!

1571
01:15:58,117 --> 01:16:01,454
Kevin, I've just been subpoenaed
by Congress, man.

1572
01:16:01,537 --> 01:16:03,122
I do not have time for your bullshit.

1573
01:16:03,206 --> 01:16:05,666
- Oh, come off it, man!
- Seriously, asshole.

1574
01:16:05,750 --> 01:16:07,627
- Chill! It was a joke!
- Fuck!

1575
01:16:08,711 --> 01:16:10,171
[Keith sighs]

1576
01:16:12,173 --> 01:16:13,007
[groans]

1577
01:16:15,551 --> 01:16:16,385
I know.

1578
01:16:17,220 --> 01:16:18,095
Sorry.

1579
01:16:25,186 --> 01:16:27,355
We never used to fight this much.

1580
01:16:30,274 --> 01:16:32,235
- Sara.
- I miss her.

1581
01:16:32,860 --> 01:16:33,736
Me too.

1582
01:16:34,320 --> 01:16:35,738
She kept your ego in check.

1583
01:16:36,405 --> 01:16:38,574
Whole fuckin' world kept my ego in check.

1584
01:16:39,659 --> 01:16:42,328
What the fuck are you gonna tell
Congress, Keith? Huh?

1585
01:16:43,412 --> 01:16:45,456
Beg them not to send me to prison?

1586
01:16:47,708 --> 01:16:48,543
Hey...

1587
01:16:49,293 --> 01:16:53,422
Hey, do you remember back at Stonehill
when they dared me to run that mile naked?

1588
01:16:53,923 --> 01:16:55,633
Yeah, there was a crazy storm that night.

1589
01:16:55,716 --> 01:16:57,343
- You dumb shit.
- Fuck you, man.

1590
01:16:57,426 --> 01:16:59,762
That was dope, man.
I'm a legend over there.

1591
01:16:59,846 --> 01:17:01,013
Everybody remembers that!

1592
01:17:01,097 --> 01:17:02,139
- Okay.
- They do, man.

1593
01:17:02,223 --> 01:17:04,183
People remember
your 4-minute 3-second mile.

1594
01:17:04,267 --> 01:17:06,143
Oh... what is this, a pep talk?

1595
01:17:06,227 --> 01:17:07,645
Motherfucker, stop hiding.

1596
01:17:07,728 --> 01:17:11,190
Seriously. Okay, stop being all meek
and shit and running away.

1597
01:17:12,024 --> 01:17:14,569
What, you want me to run through
lightning with my dick out?

1598
01:17:14,652 --> 01:17:15,570
Yeah.

1599
01:17:15,653 --> 01:17:17,738
Please, exactly that.

1600
01:17:18,447 --> 01:17:20,741
Run through lightning with your dick out.
Fuck it.

1601
01:17:22,535 --> 01:17:25,538
[pensive music playing]

1602
01:17:28,958 --> 01:17:30,418
You didn't go to your mom's?

1603
01:17:32,336 --> 01:17:33,546
You took the car.

1604
01:17:35,298 --> 01:17:37,383
How was the run? Did it clear your head?

1605
01:17:38,175 --> 01:17:39,719
Kev found me, brought me these.

1606
01:17:39,802 --> 01:17:42,221
Hm. You guys talked?

1607
01:17:42,722 --> 01:17:45,474
Yup, he, uh, told me to run naked.

1608
01:17:45,975 --> 01:17:47,560
- You ran naked?
- No.

1609
01:17:47,643 --> 01:17:51,731
Uh, it's a metaphor. He's saying
I gotta take this thing head on.

1610
01:17:52,815 --> 01:17:53,649
Well...

1611
01:17:59,238 --> 01:18:00,823
I'd kinda like to see you run naked.

1612
01:18:02,700 --> 01:18:04,452
[sprinkler spraying]

1613
01:18:04,535 --> 01:18:07,121
By the way, Wall Street Bets is back up.

1614
01:18:08,748 --> 01:18:10,124
The motherfucker held.

1615
01:18:10,875 --> 01:18:15,254
Holy shit! He lost 30 million,
and he still fucking held.

1616
01:18:18,633 --> 01:18:20,343
- Robinhood's back up.
- What?

1617
01:18:21,135 --> 01:18:23,554
- We gotta get back in.
- Where's the stock at right now?

1618
01:18:24,305 --> 01:18:25,306
109.

1619
01:18:25,806 --> 01:18:26,849
Are you sure?

1620
01:18:27,350 --> 01:18:30,102
That's like all of the money
that we made back into the stock.

1621
01:18:33,981 --> 01:18:36,484
Yeah. We can't let them
get away with this.

1622
01:18:38,569 --> 01:18:39,403
Fuck 'em.

1623
01:18:39,987 --> 01:18:41,197
If he's in, I'm in.

1624
01:18:42,073 --> 01:18:43,282
If he's in, I'm in.

1625
01:18:46,786 --> 01:18:47,787
Okay.

1626
01:18:49,455 --> 01:18:50,414
Fuck!

1627
01:18:52,583 --> 01:18:55,419
- [Harmony sighs, then laughs]
- [Riri yells]

1628
01:18:56,462 --> 01:19:01,092
{\an8}<i>The frenzy continues with retail investors
bidding back up GameStop.</i>

1629
01:19:01,175 --> 01:19:03,260
<i>- Meme stock mania is back.</i>
- [woman] <i>...up more than 80%</i>

1630
01:19:03,344 --> 01:19:05,805
<i>as those message board traders
simply sent it higher.</i>

1631
01:19:05,888 --> 01:19:07,473
[man] <i>Stock volatility continuing,</i>

1632
01:19:07,556 --> 01:19:10,351
<i>it looks like this morning once again
GameStop are involved in</i>

1633
01:19:10,434 --> 01:19:13,771
<i>an ongoing battle between
retail investors and short sellers.</i>

1634
01:19:13,854 --> 01:19:15,314
<i>We're gonna have more on this story.</i>

1635
01:19:15,398 --> 01:19:18,401
{\an8}[woman] <i>CEOs of Robinhood, Reddit,
Citadel and Melvin Capital.</i>

1636
01:19:18,484 --> 01:19:21,821
{\an8}<i>Along with Keith Gill,
better known as Roaring Kitty</i>

1637
01:19:21,904 --> 01:19:25,199
<i>on social media, will be in the hot seat.</i>

1638
01:19:25,282 --> 01:19:28,285
[tense music playing]

1639
01:19:29,662 --> 01:19:32,748
[Gabe] <i>I'm here testifying today
far removed from my background.</i>

1640
01:19:32,832 --> 01:19:35,835
<i>I grew up in a middle-class family
in Portland, Maine.</i>

1641
01:19:35,918 --> 01:19:37,503
My dad was a grocery store executive.

1642
01:19:37,586 --> 01:19:38,963
[woman] Maybe leave that part out.

1643
01:19:40,297 --> 01:19:41,382
The part about my dad?

1644
01:19:41,465 --> 01:19:42,508
The executive part.

1645
01:19:42,591 --> 01:19:44,093
Okay... Okay.

1646
01:19:47,430 --> 01:19:51,892
I went to a public high school.
I studied hard and got into Northwestern.

1647
01:19:51,976 --> 01:19:53,978
- Just say "a good college."
- Upon...

1648
01:19:54,061 --> 01:19:55,563
I can't say I went to Northwestern?

1649
01:19:55,646 --> 01:19:57,440
- Too elite.
- Northwestern's too...

1650
01:19:58,107 --> 01:19:58,941
All right.

1651
01:20:02,945 --> 01:20:07,533
Upon graduation, I did not have a job.
Today, I'm married with four children.

1652
01:20:07,616 --> 01:20:09,785
Gabe, where do you plan on
doing your testimony?

1653
01:20:12,163 --> 01:20:14,915
- Here.
- In front of your wine collection?

1654
01:20:16,959 --> 01:20:20,129
I mean, this is... I don't have that big
of a wine collection honestly.

1655
01:20:20,212 --> 01:20:21,172
Yeah, it's huge.

1656
01:20:21,255 --> 01:20:23,090
[Keith]
Digital risks seem to be overblown.

1657
01:20:23,174 --> 01:20:25,593
Two, the negative sentiment is overdone.

1658
01:20:25,676 --> 01:20:29,388
- Three, the value...
- Maybe... here would be nice.

1659
01:20:32,683 --> 01:20:34,685
- Too many windows.
- Too many windows... Oh.

1660
01:20:34,769 --> 01:20:35,853
It's very bright.

1661
01:20:35,936 --> 01:20:39,023
- Yeah, ocean front's not a great idea.
- It's blue.

1662
01:20:39,106 --> 01:20:40,775
Yeah. Okay, I hadn't thought of that.

1663
01:20:40,858 --> 01:20:43,694
That, uh, yeah, downstairs there's more...
there's probably darker rooms.

1664
01:20:43,778 --> 01:20:45,863
[woman on TV] <i>What a bandit.
Most of you know this guy,</i>

1665
01:20:45,946 --> 01:20:47,490
<i>who is the Roaring Kitty character,</i>

1666
01:20:47,573 --> 01:20:48,949
- <i>who was pushing it.</i>
- Holy shit.

1667
01:20:49,033 --> 01:20:50,993
- <i>Voicing the information.</i>
- Our boy's on the news.

1668
01:20:51,077 --> 01:20:52,912
<i>And what's the potentially systemic risk?</i>

1669
01:20:52,995 --> 01:20:55,247
[man]
<i>Those relationships in D.C. are strong.</i>

1670
01:20:55,331 --> 01:20:59,376
<i>The guys who run those hedge funds are
the guys who fund presidential campaigns.</i>

1671
01:20:59,460 --> 01:21:01,712
<i>You know Roaring Kitties don't have
that kind of influence.</i>

1672
01:21:01,796 --> 01:21:03,964
<i>- Gill is being sued for fraud...
- Hedge fund managers do.</i>

1673
01:21:04,048 --> 01:21:06,175
<i>over his alleged role
in the GameStop rally.</i>

1674
01:21:06,258 --> 01:21:09,053
{\an8}<i>Is Mr. Gill likely to appear,
and if he appears,</i>

1675
01:21:09,136 --> 01:21:13,224
{\an8}<i>is he likely to talk
if he faces the potential of prosecution?</i>

1676
01:21:13,307 --> 01:21:18,229
Fundamentals are based on three things:
One, digital risks are overblown.

1677
01:21:18,312 --> 01:21:20,147
Two, the negative sentiment is overdone.

1678
01:21:20,231 --> 01:21:21,357
And three...

1679
01:21:25,069 --> 01:21:25,903
Fuck.

1680
01:21:25,986 --> 01:21:28,114
- Ah, c'mon, shut up.
- [Keith] I know all this.

1681
01:21:28,197 --> 01:21:29,532
[Kevin laughing]

1682
01:21:29,615 --> 01:21:32,034
You guys, you guys, stop.
Stop, let's keep going.

1683
01:21:32,118 --> 01:21:33,160
All right, let's go again.

1684
01:21:33,244 --> 01:21:35,496
You're right, this is serious.
You can go to jail forever.

1685
01:21:35,579 --> 01:21:37,206
- A long time. Long, long time.
- You ready?

1686
01:21:37,289 --> 01:21:39,083
You ready? Here we go. Back in the game.

1687
01:21:39,166 --> 01:21:42,253
- Mr. Gill. May I call you Mr. Gill, sir?
- It's my name.

1688
01:21:42,336 --> 01:21:44,755
[Kevin] Why the fuck wouldn't you be able
to call him Mr. Gill?

1689
01:21:44,839 --> 01:21:46,715
What were your intentions
with the YouTube videos

1690
01:21:46,799 --> 01:21:48,342
and your social media posts on GameStop?

1691
01:21:48,425 --> 01:21:49,927
- Yes.
- [Keith] Thank you, congresswoman.

1692
01:21:50,010 --> 01:21:51,428
[Caroline] You're welcome.

1693
01:21:51,512 --> 01:21:53,556
I developed a theory
that the company was undervalued

1694
01:21:53,639 --> 01:21:55,349
despite the significant short interest.

1695
01:21:55,432 --> 01:21:57,351
Oh, so you were aware
of the short interest.

1696
01:21:57,434 --> 01:21:59,937
It is public knowledge.
You can see it in the SEC filings.

1697
01:22:00,020 --> 01:22:02,273
[Briggsy] And your goal
was to break these shorts, yes?

1698
01:22:02,356 --> 01:22:05,901
To rally an online mob to artificially
push the price of GameStop soaring,

1699
01:22:05,985 --> 01:22:09,029
ah, "to the moon" as they say,
isn't that correct, Mr. Gill?

1700
01:22:09,113 --> 01:22:10,990
Objection, objection,
you're leading the witness.

1701
01:22:11,073 --> 01:22:12,074
- Kev...
- [Briggsy] Witness.

1702
01:22:12,158 --> 01:22:13,534
I yield my time to the chair.

1703
01:22:13,617 --> 01:22:15,995
You were hoping for the short squeeze,
weren't you, Mr. Gill?

1704
01:22:16,078 --> 01:22:17,163
You short squeezing bastard.

1705
01:22:17,246 --> 01:22:19,248
The short squeeze
was a marginal point of the thesis.

1706
01:22:19,331 --> 01:22:22,084
[Briggsy] Then why did you talk about it
in your videos all the time?

1707
01:22:22,168 --> 01:22:24,795
You talked about it a lot.
You remember, about the squeeze.

1708
01:22:24,879 --> 01:22:27,006
- "It's just a little squeeze."
- [Briggsy] Exactly.

1709
01:22:27,089 --> 01:22:29,550
Are you really asking us to believe
that you weren't a leader

1710
01:22:29,633 --> 01:22:31,760
- to all these retail traders?
- You're fucked, buddy.

1711
01:22:31,844 --> 01:22:33,929
- My point of view...
- Asking. Yes or no?

1712
01:22:34,013 --> 01:22:35,431
- [Kevin] Yes or no?
- [Briggsy] Yes.

1713
01:22:35,514 --> 01:22:38,058
- You're admitting it.
- You had the cheap bottle of champagne.

1714
01:22:38,142 --> 01:22:41,228
- Kevin. Kevin!
- Dunking tendies like a fucking... What?

1715
01:22:42,521 --> 01:22:44,899
I'm running with my dick out.

1716
01:22:45,983 --> 01:22:47,359
Okay, why don't you just say that?

1717
01:22:47,443 --> 01:22:48,736
Okay, I'll stop.

1718
01:22:49,528 --> 01:22:54,408
All right. Mr. Gill, what exactly
about the fundamentals

1719
01:22:54,491 --> 01:22:57,703
- led you to build this bull case?
- [Briggsy] What the fuck's with the voice?

1720
01:22:57,786 --> 01:23:00,039
I don't know, I was trying to do AOC,
but it was flat.

1721
01:23:00,122 --> 01:23:02,541
- [Briggsy] She's not on the panel.
- [Kevin] Shut the fuck up.

1722
01:23:02,625 --> 01:23:04,710
- I'll slap the shit out of you.
- You're gonna slap me?

1723
01:23:04,793 --> 01:23:06,879
- [Kevin] Let's go.
- [Briggsy] You ready to go?

1724
01:23:06,962 --> 01:23:08,881
[Kevin] <i>I've been waiting for this, dog.</i>

1725
01:23:14,261 --> 01:23:17,264
{\an8}[tense, pensive music playing]

1726
01:23:20,601 --> 01:23:21,685
[sighs]

1727
01:23:26,315 --> 01:23:27,149
Come here.

1728
01:23:35,908 --> 01:23:37,868
You're gonna be great.

1729
01:23:39,119 --> 01:23:41,830
If it goes bad, it's gonna be real bad.

1730
01:23:41,914 --> 01:23:43,624
Well, don't let it go bad.

1731
01:23:43,707 --> 01:23:47,878
[Waters] <i>This hearing will be first
in a series of hearings by the committee</i>

1732
01:23:47,962 --> 01:23:52,967
<i>to examine the recent market volatility
involving GameStop.</i>

1733
01:23:53,050 --> 01:23:57,554
<i>I want to know how each
of the witnesses here today</i>

1734
01:23:57,638 --> 01:23:59,723
- <i>contributed to the historic...</i>
- Gabe, can you sit up?

1735
01:23:59,807 --> 01:24:02,893
<i>...trading events in January.</i>

1736
01:24:03,435 --> 01:24:05,688
<i>This recent market volatility</i>

1737
01:24:05,771 --> 01:24:10,276
<i>has put a national spotlight
on institutional practices</i>

1738
01:24:10,359 --> 01:24:11,944
<i>by Wall Street firms.</i>

1739
01:24:12,027 --> 01:24:15,614
<i>And they have demonstrated
the enormous potential power</i>

1740
01:24:15,698 --> 01:24:18,325
<i>of social media in our markets.</i>

1741
01:24:18,909 --> 01:24:22,454
<i>We will hear firsthand from the witnesses
regarding these events.</i>

1742
01:24:23,080 --> 01:24:27,251
<i>The hearing will be an opportunity
for this committee to get the facts</i>

1743
01:24:27,334 --> 01:24:30,504
<i>about the role
each of the witnesses represent,</i>

1744
01:24:30,587 --> 01:24:34,133
<i>played in the events
we are examining today.</i>

1745
01:24:34,216 --> 01:24:36,593
[Vargas] <i>Mr. Griffin,
if I could ask you this first question.</i>

1746
01:24:36,677 --> 01:24:37,511
Of course.

1747
01:24:37,594 --> 01:24:39,680
{\an8}<i>How many people are in the room with you?</i>

1748
01:24:40,556 --> 01:24:41,598
[Ken] That's your question?

1749
01:24:41,682 --> 01:24:43,684
<i>Count how many people
are in the room with you.</i>

1750
01:24:48,314 --> 01:24:51,817
<i>There are five people,
including myself, in this room.</i>

1751
01:24:51,900 --> 01:24:53,485
[Vargas] <i>Did anyone in your organization</i>

1752
01:24:53,569 --> 01:24:55,696
<i>since January 1st, contact Robinhood?</i>

1753
01:24:55,779 --> 01:25:00,534
We of course talk to Robinhood routinely
in the ordinary course of business.

1754
01:25:00,617 --> 01:25:02,870
We manage a substantial portion
of their order flow.

1755
01:25:02,953 --> 01:25:05,247
{\an8}<i>But did you talk to them about restricting</i>

1756
01:25:05,331 --> 01:25:09,460
{\an8}<i>or doing anything to prevent people
from buying GameStop?</i>

1757
01:25:09,543 --> 01:25:12,254
I want to be perfectly clear.

1758
01:25:12,338 --> 01:25:15,966
<i>We had no role in Robinhood's decision</i>

1759
01:25:16,050 --> 01:25:18,218
- <i>to limit trading in GameStop.</i>
- Fuck you, Ken Griffin.

1760
01:25:18,302 --> 01:25:22,097
[Vargas] <i>So, if we depose everyone
in your organization, we would find that?</i>

1761
01:25:22,765 --> 01:25:23,682
That is correct.

1762
01:25:23,766 --> 01:25:26,310
Looks like a Disney Channel villain.

1763
01:25:26,393 --> 01:25:30,898
<i>Mr. Plotkin, do you believe
that there is manipulation, distrust,</i>

1764
01:25:30,981 --> 01:25:33,817
<i>and overall inequality
within American finance?</i>

1765
01:25:33,901 --> 01:25:35,986
My focus is on my company, Melvin...

1766
01:25:36,070 --> 01:25:37,654
[inaudible]

1767
01:25:37,738 --> 01:25:38,822
[Kevin] Hello?

1768
01:25:38,906 --> 01:25:40,532
You're on mute, dick!

1769
01:25:40,616 --> 01:25:42,159
<i>Ah, I'm sorry, you're on mute.</i>

1770
01:25:42,659 --> 01:25:43,786
[all laughing]

1771
01:25:46,372 --> 01:25:48,040
[woman] He just keeps going.

1772
01:25:48,123 --> 01:25:49,875
...my area of expertise.

1773
01:25:49,958 --> 01:25:53,629
<i>You're still on mute. I haven't been able
to hear a word you said, unfortunately.</i>

1774
01:25:53,712 --> 01:25:56,006
[Ocasio-Cortez] <i>Would you be willing
to commit today</i>

1775
01:25:56,090 --> 01:25:58,175
<i>- to voluntarily pass on the proceeds...</i>
- Oh. Marry me.

1776
01:25:58,258 --> 01:26:00,969
<i>...of the payment for order flow
to Robinhood customers?</i>

1777
01:26:01,053 --> 01:26:03,514
Congresswoman, I appreciate that question.

1778
01:26:03,597 --> 01:26:06,058
When the statement you refer to was made,

1779
01:26:06,141 --> 01:26:09,353
{\an8}it was before Robinhood
forced the entire industry

1780
01:26:09,436 --> 01:26:11,438
{\an8}- to drop commissions...
<i>- I should take that as a no.</i>

1781
01:26:11,522 --> 01:26:14,233
{\an8}<i>You're not willing to pass on
the proceeds of payment for order flow</i>

1782
01:26:14,316 --> 01:26:16,235
<i>- to your customers?</i>
- When the other brokers drop...

1783
01:26:16,318 --> 01:26:17,361
{\an8}<i>I'm talking about today.</i>

1784
01:26:17,444 --> 01:26:19,154
- Asshole.
- <i>I don't wanna be rude.</i>

1785
01:26:19,238 --> 01:26:20,531
{\an8}<i>I just have limited time,</i>

1786
01:26:20,614 --> 01:26:24,535
{\an8}<i>but if removing the revenues that you make
from a payment for order flow</i>

1787
01:26:24,618 --> 01:26:28,038
<i>would cause the removal
of free commissions,</i>

1788
01:26:28,122 --> 01:26:29,832
<i>doesn't that mean that
trading on Robinhood</i>

1789
01:26:29,915 --> 01:26:31,792
<i>isn't actually free to begin with?</i>

1790
01:26:31,875 --> 01:26:33,168
[woman] Good question.

1791
01:26:39,800 --> 01:26:42,052
[Waters] <i>Thank you very much, Mr. Gill.</i>

1792
01:26:42,136 --> 01:26:46,682
<i>You are now recognized for five minutes
to present your oral testimony.</i>

1793
01:26:48,684 --> 01:26:50,936
[inhales, then exhales]

1794
01:26:58,610 --> 01:27:01,071
Thank you, members of the committee.

1795
01:27:03,615 --> 01:27:06,910
I am happy to discuss my purchase
of GameStop shares

1796
01:27:07,494 --> 01:27:10,873
and my discussions of their fair value
on social media.

1797
01:27:11,707 --> 01:27:13,333
But before I do that,

1798
01:27:13,417 --> 01:27:15,252
a few things I am not:

1799
01:27:17,045 --> 01:27:18,255
I am not a cat.

1800
01:27:19,798 --> 01:27:22,050
- What did he say?
- [Kevin] He just said cat, Ma.

1801
01:27:22,134 --> 01:27:23,343
It's like a kitty thing.

1802
01:27:23,427 --> 01:27:25,762
<i>Nor am I a hedge fund.
I do not have clients,</i>

1803
01:27:25,846 --> 01:27:31,101
<i>and I do not provide personalized
investment advice for fees or commissions.</i>

1804
01:27:31,185 --> 01:27:33,187
I grew up in Brockton, Mass.

1805
01:27:33,937 --> 01:27:35,814
My family was not wealthy.

1806
01:27:35,898 --> 01:27:39,151
<i>My father was a truck driver
and my mom a registered nurse.</i>

1807
01:27:39,234 --> 01:27:41,361
- [Kevin] That's you, Ma!
- I was one of three kids

1808
01:27:41,445 --> 01:27:44,448
and the first in my family
to earn a four-year college degree

1809
01:27:44,531 --> 01:27:48,619
when I graduated from Stonehill College
in 2009.

1810
01:27:48,702 --> 01:27:50,746
<i>That was not a good time
to be looking for a job.</i>

1811
01:27:50,829 --> 01:27:53,248
<i>From 2010-2017,</i>

1812
01:27:53,332 --> 01:27:56,710
<i>there were significant periods
when I was unemployed.</i>

1813
01:27:56,793 --> 01:27:59,087
<i>I took an interest in the stock market,</i>

1814
01:27:59,171 --> 01:28:01,381
and even though I had very little money,

1815
01:28:01,465 --> 01:28:05,594
I used those times to educate myself
and learn more about investing.

1816
01:28:05,677 --> 01:28:09,556
<i>Mr. Gill, I find it hard to believe
that you predicted everything</i>

1817
01:28:09,640 --> 01:28:13,227
<i>that happened to GameStop
with no inside information.</i>

1818
01:28:13,310 --> 01:28:14,978
Uh, I didn't predict it.

1819
01:28:15,062 --> 01:28:18,357
I honestly couldn't explain everything
that happened in January.

1820
01:28:18,440 --> 01:28:22,194
<i>I've seen your videos. You honestly
couldn't recount to the committee</i>

1821
01:28:22,277 --> 01:28:26,782
<i>what caused every single up and down
of the stock in January?</i>

1822
01:28:27,366 --> 01:28:28,492
<i>I think you could.</i>

1823
01:28:29,826 --> 01:28:33,205
I did follow the stock, uh, very closely,

1824
01:28:33,288 --> 01:28:36,833
but threshold lists, order flows,
halting purchases, according to the press,

1825
01:28:36,917 --> 01:28:38,794
these all had a material impact
on the stock.

1826
01:28:38,877 --> 01:28:41,463
Here's the thing: I have
a bit of experience with this stuff,

1827
01:28:41,547 --> 01:28:43,465
and even I barely understand
these matters.

1828
01:28:43,549 --> 01:28:47,344
It's alarming how little we all know
about the inner workings of the market.

1829
01:28:47,427 --> 01:28:50,055
Which is why I'm glad this committee
is examining what happened,

1830
01:28:50,138 --> 01:28:52,849
particularly with the exorbitant
short interest

1831
01:28:52,933 --> 01:28:55,811
as well as any potentially
manipulative shorting practices

1832
01:28:55,894 --> 01:28:59,982
and brokers' reported failures to
timely deliver shares and settle trades.

1833
01:29:00,065 --> 01:29:01,733
[mouths]

1834
01:29:03,277 --> 01:29:05,487
A lot of people feel the system is broken.

1835
01:29:05,571 --> 01:29:09,575
<i>The whole idea of the stock market is to
be, like, kind of a fair playing field,</i>

1836
01:29:09,658 --> 01:29:13,495
<i>where if you're smart, maybe with a little
luck, you could make your fortune.</i>

1837
01:29:14,288 --> 01:29:16,623
<i>But, if it ever was that,
it's certainly not any more.</i>

1838
01:29:17,708 --> 01:29:21,044
The big firms have such a big advantage,
in terms of technology and information

1839
01:29:21,128 --> 01:29:24,381
and just sheer wealth, there's no hope
for the little guy anymore.

1840
01:29:25,132 --> 01:29:27,009
<i>Or there was no hope.</i>

1841
01:29:27,759 --> 01:29:29,803
<i>Maybe now, there is.</i>

1842
01:29:31,972 --> 01:29:33,432
And as for me,

1843
01:29:34,141 --> 01:29:35,309
I like the stock.

1844
01:29:35,392 --> 01:29:36,310
[cheering]

1845
01:29:36,393 --> 01:29:38,770
He's a gangster for that.

1846
01:29:38,854 --> 01:29:40,480
I don't plan on selling any time soon.

1847
01:29:40,564 --> 01:29:42,190
- [man] Hold it.
- Say that shit.

1848
01:29:42,274 --> 01:29:43,233
Diamond fucking hands.

1849
01:29:43,317 --> 01:29:44,234
Diamond hands, baby.

1850
01:29:45,360 --> 01:29:46,903
Attaboy.

1851
01:29:46,987 --> 01:29:48,280
What a nerd.

1852
01:29:48,905 --> 01:29:49,740
{\an8}Thank you.

1853
01:29:51,116 --> 01:29:52,117
[sighs]

1854
01:29:57,497 --> 01:29:59,916
It was good. I think.

1855
01:30:01,084 --> 01:30:03,962
[man on TV] <i>Yesterday's Reddit hearing
in Congress brought together</i>

1856
01:30:04,046 --> 01:30:06,340
<i>some of the power players
behind the January trading frenzy.</i>

1857
01:30:06,423 --> 01:30:09,593
[woman] <i>Representative Maxine Waters did
say there will be additional hearings...</i>

1858
01:30:09,676 --> 01:30:12,804
[man] <i>What you got here involves people
named DFV and Roaring Kitty, ultimately...</i>

1859
01:30:12,888 --> 01:30:15,849
[woman] <i>...two more to follow to find
more answers, one market expert...</i>

1860
01:30:15,932 --> 01:30:17,642
[man] <i>Whether it's markets
or social media,</i>

1861
01:30:17,726 --> 01:30:19,436
<i>I'll just call it media because it is now.</i>

1862
01:30:19,519 --> 01:30:21,355
<i>Do you think any new regulation gets done?</i>

1863
01:30:21,438 --> 01:30:23,523
[man 2] <i>What's clear is that
we're in the Wild West</i>

1864
01:30:23,607 --> 01:30:26,693
<i>and that there is so much activity
that's going on, on these online forums.</i>

1865
01:30:26,777 --> 01:30:29,988
<i>And we've seen in the last month
and the last six weeks how much force</i>

1866
01:30:30,072 --> 01:30:33,617
<i>day traders en masse can bring
to the market and actually affect it.</i>

1867
01:30:33,700 --> 01:30:35,660
<i>They used to just make some noise
around the edges.</i>

1868
01:30:35,744 --> 01:30:38,455
<i>Now they can actually move markets,
move securities.</i>

1869
01:30:38,538 --> 01:30:41,124
[pensive music playing]

1870
01:31:09,945 --> 01:31:11,071
Cheers, everyone.

1871
01:31:18,120 --> 01:31:19,037
Ah.

1872
01:31:23,542 --> 01:31:24,376
[sighs]

1873
01:31:27,587 --> 01:31:29,131
You're a fucking gangster.

1874
01:31:48,775 --> 01:31:51,278
[Brad] Hey, man, I notice you've been
selling a lot of new games,

1875
01:31:51,361 --> 01:31:54,573
and I just wanted to remind you, again,
that we really wanna be pushing customers

1876
01:31:54,656 --> 01:31:57,159
towards the higher-margin pre-owned games.

1877
01:31:58,201 --> 01:32:00,162
Yeah, I'm not gonna do that.

1878
01:32:00,245 --> 01:32:01,079
Excuse me?

1879
01:32:01,163 --> 01:32:03,790
Oh, and in fact, I'm not gonna do
any of the Circle of Life bullshit.

1880
01:32:03,874 --> 01:32:05,250
Or your TikTok dance contest.

1881
01:32:05,333 --> 01:32:06,626
You're quitting, then.

1882
01:32:08,295 --> 01:32:09,296
Okay.

1883
01:32:09,379 --> 01:32:11,131
I mean, I thought about it, but...

1884
01:32:12,132 --> 01:32:13,925
Like, yo, I love it here.

1885
01:32:14,009 --> 01:32:15,677
So, I think I'm gonna stay.

1886
01:32:15,760 --> 01:32:19,222
You're awfully smug for a kid
who lost all his money buying stock.

1887
01:32:19,723 --> 01:32:22,142
What did you say it was going to?
A thousand?

1888
01:32:23,393 --> 01:32:25,896
I'm also not gonna work
at the ass crack of dawn any more.

1889
01:32:27,022 --> 01:32:27,898
You're fired.

1890
01:32:29,816 --> 01:32:31,067
No, I'm not.

1891
01:32:31,151 --> 01:32:33,862
You gotta get that approved
by like seven levels of people, yo.

1892
01:32:34,362 --> 01:32:36,907
Thanks to the geniuses
who put that together.

1893
01:32:36,990 --> 01:32:38,950
The ones who used to own my ass.

1894
01:32:39,451 --> 01:32:40,452
You sold?

1895
01:32:41,745 --> 01:32:42,579
Half.

1896
01:32:43,914 --> 01:32:45,874
Right at the tippy tippy top.

1897
01:32:45,957 --> 01:32:48,710
And I'm holding the other half
for the long haul.

1898
01:32:48,793 --> 01:32:50,545
<i>♪ 'Cause I'm a savage ♪</i>

1899
01:32:51,046 --> 01:32:53,632
<i>♪ Classy, bougie, ratchet ♪</i>

1900
01:32:54,174 --> 01:32:57,010
<i>♪ Sassy, moody, nasty ♪</i>

1901
01:32:57,093 --> 01:32:59,346
<i>♪ Acting stupid what was happening ♪</i>

1902
01:32:59,429 --> 01:33:00,680
["Savage" playing]

1903
01:33:00,764 --> 01:33:04,351
<i>♪ Classy, bougie, ratchet ♪</i>

1904
01:33:04,434 --> 01:33:07,270
{\an8}<i>♪ Sassy, moody, nasty ♪</i>

1905
01:33:07,354 --> 01:33:09,314
{\an8}<i>♪ Acting stupid, what's happening? ♪</i>

1906
01:33:09,397 --> 01:33:10,815
<i>♪ Bitch, what's happening? ♪</i>

1907
01:33:10,899 --> 01:33:12,776
<i>♪ Bitch, I'm a savage, yeah ♪</i>

1908
01:33:12,859 --> 01:33:15,445
<i>♪ Classy, bougie, ratchet, yeah ♪</i>

1909
01:33:15,529 --> 01:33:18,281
<i>♪ Sassy, moody, nasty ♪</i>

1910
01:33:18,365 --> 01:33:20,909
<i>♪ Acting stupid, what's happening? ♪</i>

1911
01:33:20,992 --> 01:33:22,827
<i>♪ Bitch, what's happening? ♪</i>

1912
01:33:22,911 --> 01:33:25,622
<i>♪ Eat me and record it
But your edge-up all I'm showing ♪</i>

1913
01:33:25,705 --> 01:33:28,500
<i>♪ I keep my niggas private
So, his AP all I'm showing ♪</i>

1914
01:33:28,583 --> 01:33:31,086
<i>♪ Beefing with you bitches
Really getting kinda boring ♪</i>

1915
01:33:31,169 --> 01:33:33,838
<i>♪ If it ain't about the money
Then you know I'm gon' ignore it ♪</i>

1916
01:33:33,922 --> 01:33:34,756
<i>♪ I'm the shit, ooh ♪</i>

1917
01:33:34,839 --> 01:33:37,926
<i>♪ I need a mop to clean the floor
It's too much drip, ooh ♪</i>

1918
01:33:38,009 --> 01:33:40,053
<i>♪ I keep a knot, I keep a watch
I keep a whip... ♪</i>

1919
01:33:40,136 --> 01:33:41,388
Fuck yeah!

1920
01:33:41,930 --> 01:33:44,766
<i>I'm here testifying today
far removed from my background.</i>

1921
01:33:44,849 --> 01:33:46,977
<i>I grew up in a middle-class family
in Portland, Maine.</i>

1922
01:33:47,060 --> 01:33:48,645
<i>I went to a public high school.</i>

1923
01:33:48,728 --> 01:33:51,064
<i>I studied hard
and got into a good college.</i>

1924
01:33:51,147 --> 01:33:53,608
<i>Upon graduation, I did not have a job.</i>

1925
01:33:53,692 --> 01:33:56,695
<i>♪ Bitch, what's happening? ♪</i>

1926
01:33:56,778 --> 01:34:02,659
<i>When the statement you refer to was made,
uh, I believe 2015 or 2016,</i>

1927
01:34:02,742 --> 01:34:05,745
<i>it was before Robinhood
forced the entire industry</i>

1928
01:34:05,829 --> 01:34:08,498
<i>- to drop commissions and replicate our...
- I should take that as a no.</i>

1929
01:34:08,582 --> 01:34:11,418
<i>You're not willing to pass on
the proceeds of payment for order flow</i>

1930
01:34:11,501 --> 01:34:12,627
<i>to your customers?</i>

1931
01:34:12,711 --> 01:34:14,879
<i>♪ That body right
But you know this pussy fat, ooh ♪</i>

1932
01:34:14,963 --> 01:34:17,299
<i>♪ I drop a picture
Now these bitches feel attacked ♪</i>

1933
01:34:17,382 --> 01:34:20,135
<i>♪ Don't let that nigga gas you up
And get you whacked, ooh ♪</i>

1934
01:34:20,218 --> 01:34:22,137
<i>♪ I make a call
and get a pussy nigga smacked... ♪</i>

1935
01:34:22,220 --> 01:34:27,017
<i>But did you talk to them about restricting
or doing anything to prevent people</i>

1936
01:34:27,100 --> 01:34:30,437
<i>from buying, not selling
but buying, in GameStop?</i>

1937
01:34:30,520 --> 01:34:32,564
<i>Let me be perfectly clear.</i>

1938
01:34:33,315 --> 01:34:35,609
<i>Absolutely not.</i>

1939
01:34:35,692 --> 01:34:38,695
["Savage" continues playing]

1940
01:35:00,425 --> 01:35:02,469
<i>As for me, I like the stock.</i>

1941
01:35:02,552 --> 01:35:03,553
<i>♪ Mwah ♪</i>

1942
01:35:05,305 --> 01:35:06,765
Hurry up, dick, it's cold.

1943
01:35:07,432 --> 01:35:09,225
I can't believe you're my brother.

1944
01:35:09,309 --> 01:35:10,769
You look like a fucking Ninja Turtle.

1945
01:35:10,852 --> 01:35:12,437
- Ready?
- Yup.

1946
01:35:13,271 --> 01:35:14,689
- Set... What?
- Fuck you!

1947
01:35:14,773 --> 01:35:15,607
Kevin!

1948
01:35:15,690 --> 01:35:17,901
["Seven Nation Army" playing]

1949
01:35:17,984 --> 01:35:18,943
C'mon, Kitty!

1950
01:35:19,027 --> 01:35:21,029
[thunder rumbles]

1951
01:35:29,537 --> 01:35:31,665
<i>♪ I'm gonna fight 'em off ♪</i>

1952
01:35:32,999 --> 01:35:36,836
<i>♪ A seven nation army
Couldn't hold me back ♪</i>

1953
01:35:37,379 --> 01:35:39,381
<i>♪ They're gonna rip it off ♪</i>

1954
01:35:40,924 --> 01:35:44,886
<i>♪ Takin' their time right behind my back ♪</i>

1955
01:35:44,969 --> 01:35:50,433
<i>♪ And the message comin' from my eyes
Says, "Leave it alone" ♪</i>

1956
01:36:24,634 --> 01:36:26,845
<i>♪ Don't want to hear about it ♪</i>

1957
01:36:28,471 --> 01:36:31,933
<i>♪ Every single one's got a story to tell ♪</i>

1958
01:36:32,600 --> 01:36:34,561
<i>♪ Everyone knows about it ♪</i>

1959
01:36:36,146 --> 01:36:39,649
<i>♪ From the Queen of England
To the Hounds of Hell ♪</i>

1960
01:36:40,316 --> 01:36:45,405
<i>♪ And if I catch it comin' back my way
I'm gonna serve it to you ♪</i>

1961
01:36:48,450 --> 01:36:53,163
<i>♪ And that ain't what you want to hear
But that's what I'll do ♪</i>

1962
01:36:55,999 --> 01:37:01,337
<i>♪ And the feelin' comin' from my bones
Says, "Find a home" ♪</i>

1963
01:37:51,346 --> 01:37:53,348
<i>♪ I'm goin' to Wichita ♪</i>

1964
01:37:54,974 --> 01:37:58,353
<i>♪ Far from this opera forevermore ♪</i>

1965
01:37:59,103 --> 01:38:01,147
<i>♪ I'm gonna work the straw ♪</i>

1966
01:38:02,649 --> 01:38:06,319
<i>♪ Make the sweat drip out of every pore ♪</i>

1967
01:38:07,070 --> 01:38:12,242
<i>♪ And I'm bleedin' and I'm bleedin'
And I'm bleedin' right before the Lord ♪</i>

1968
01:38:14,911 --> 01:38:19,958
<i>♪ All the words are gonna bleed from me
And I will think no more ♪</i>

1969
01:38:22,669 --> 01:38:27,632
<i>♪ And the stains comin' from my blood
Tell me, "Go back home" ♪</i>

1970
01:38:45,942 --> 01:38:46,943
[song ends]

1971
01:38:47,026 --> 01:38:50,029
["You Make Me Wanna Purr" playing]

1972
01:38:50,113 --> 01:38:52,657
<i>♪ You make me wanna
You make me wanna ♪</i>

1973
01:38:53,700 --> 01:38:54,909
<i>♪ You make me wanna ♪</i>

1974
01:38:57,537 --> 01:39:00,331
<i>♪ You make me wanna
You make me wanna ♪</i>

1975
01:39:01,165 --> 01:39:02,625
<i>♪ You make me wanna ♪</i>

1976
01:39:05,169 --> 01:39:08,089
<i>♪ You make me wanna
You make me wanna ♪</i>

1977
01:39:08,756 --> 01:39:10,258
<i>♪ You make me wanna ♪</i>

1978
01:39:26,399 --> 01:39:27,609
<i>♪ You make me wanna ♪</i>

1979
01:39:33,364 --> 01:39:34,824
<i>♪ You make me wanna ♪</i>

1980
01:39:35,867 --> 01:39:38,786
<i>♪ You make me wanna
You make me wanna ♪</i>

1981
01:39:39,454 --> 01:39:40,914
<i>♪ You make me wanna ♪</i>

1982
01:39:43,249 --> 01:39:46,669
<i>♪ You make me wanna
You make me wanna ♪</i>

1983
01:39:47,462 --> 01:39:48,713
<i>♪ You make me wanna ♪</i>

1984
01:40:06,731 --> 01:40:09,651
<i>♪ You make me wanna
You make me wanna ♪</i>

1985
01:40:10,610 --> 01:40:11,694
<i>♪ You make me wanna ♪</i>

1986
01:40:14,238 --> 01:40:17,408
<i>♪ You make me wanna
You make me wanna ♪</i>

1987
01:40:18,034 --> 01:40:19,327
<i>♪ You make me wanna ♪</i>

1988
01:40:21,245 --> 01:40:24,999
<i>♪ You make me wanna
You make me wanna ♪</i>

1989
01:40:25,833 --> 01:40:27,210
<i>♪ You make me wanna ♪</i>

1990
01:40:40,723 --> 01:40:42,350
<i>♪ You make me wanna ♪</i>

1991
01:40:48,690 --> 01:40:49,816
<i>♪ You make me wanna ♪</i>

1992
01:40:50,900 --> 01:40:53,861
<i>♪ You make me wanna
You make me wanna ♪</i>

1993
01:40:54,654 --> 01:40:55,905
<i>♪ You make me wanna ♪</i>

1994
01:40:58,074 --> 01:41:01,536
<i>♪ You make me wanna
You make me wanna ♪</i>

1995
01:41:02,370 --> 01:41:03,496
<i>♪ You make me wanna ♪</i>

1996
01:41:03,579 --> 01:41:04,580
[song ends]

1997
01:41:04,664 --> 01:41:07,667
[dramatic music playing]