Linus should stop his $GME "Investment"

[Quackers101]

1 minute ago, Rugg said:

That's rich, coming from the fact that the whole reason he wants to do this is he wants to make people who promised to much eat their words.

Linus is evidently very well off, he's fine, and should stick to his word.

unless he lose 500k on this.

[Rugg]

1 minute ago, Quackers101 said:

unless he lose 500k on this.

You can't lose $500k if you promised to spend $50k. Worst case is you lose $50k.

[Amias]

Linus is CEO of his own company which runs a very successful media group ... $50k is chump change to him. He doesn't act like it, because he's super cheap. But he is most definitely a wealthy individual.

 

He'll be fine. 

4 hours ago, Dtx1 said:

There are real jobs, real people, real lives involved and as much as i want to stick it to the big hedgefond guys i don't find it funny to see LTT or Linus get sucked into this.

Oh go home. To us it's f***ing HILAROUS. 

 

This little memef***about has guaranteed over 14,000 gamestop employees job and secured the future of that company. 

[Justaphysicsnerd]

4 hours ago, Dtx1 said:

Okay guys, we all had fun at the WAN Show right now, especially seeing Linus squeal. He thought he'd be in for $10K at most and could ride it out as a meme. $50K is not chump change and who knows if this publicity stunt he just accidentally did couldn't be construed as market manipulation.

I don't think it's funny anymore and I would accept a "OK, I fucked up" from Linus, followed by a more reasonable donation to a charity. I don't want to see LTT or Linus get F-ed by some oversight body he didn't know existed and I would still enjoy his content and believe in his integrity if he bowed out of this mess. There are real jobs, real people, real lives involved and as much as i want to stick it to the big hedgefond guys i don't find it funny to see LTT or Linus get sucked into this.

HEDGE FUND MANAGER DETECTED !

[Kisai]

I'm not sure what the issue is. If Linus solicited money from people to buy a security, and then didn't, that's a problem. If he did, then there's there's a different problem since the Superchat acts as tips, not a purchase, not a donation. So there's potentially a problem there, but that's more likely a problem with the streaming service ToS.

 

The BC Securities Act has rules

https://www.bclaws.gov.bc.ca/civix/document/id/complete/statreg/96418_01

 

There is NO federal securities act in Canada. So at worst, this might have been considered solicitations for investment, and people have been slapped on the wrist before for this activity (mainly in soliciting investors in real estate in BC.)

 

[Rugg]

7 minutes ago, Amias said:

Linus is CEO of his own company which runs a very successful media group ... $50k is chump change to him. He doesn't act like it, because he's super cheap. But he is most definitely a wealthy individual.

Not to mention he has bought his family member a tesla, and he offered to pay outright for another family member to take a lab DNA test out of his pocket.

[Loki0111]

No one is going to go after Linus for buying a stock out of a protest of the existing market system. I am doing exactly the same on a smaller scale as are many others obviously, I don't expect to make any money off GME at all. Its a protest purchase.

 

I just want to see Wall Street burn a bit and show why the current system and market players are not working in anyone's favor. If some small time investors manage to get a return on their tiny stimulus cheques because of all of this then all the better.

 

Also the fact OP created an account solely to discuss this one issue is suspect as fuck.

[LogicalDrm]

I actually do somewhat agree with you. Though I think Linus should go on with investment, just not the $50k. More like just matching the donations, not 5x matching them. At very least, it might teach him some humility and meaning of research and strategy.

 

I'm bit disappointed to see, yet again, that Linus gets such blind support from people who have no idea what he's dipping into. You all talk about him losing $50k is nothing to him. You mean he's acting when he's showing disbelief for spending tens of thousands of dollars in camera gear or workshop tools? Is he acting there when he knows he will make that money back in long term? Vs now just dropping $50k to something he doesn't know anything about? He can't know (no one knows) when the prices will crash and stock is again worth nothing.

 

For me, this isn't just about showing power of the internet and beating big men in their own game. While that might have been the beginning, the current movement isn't about that anymore. Its crazyness which can have effects on both sides, the big business, smaller business, banks, insurance companies and the individual investors. There's too much emotions connected, its not about calculated gains.

 

I have personally lost €1500 in badly timed investment decision. I was lucky as the bonds I invested in had insurance. Wait 5 years and cash back half if the criteria was matched. The profits would have been 10-50% of investment. I put €3000 into metal exchange 6 months before 2008/9 market crash. I also still have some stock in national airline. Still waiting on those to raise after 2008 crash and now COVID. Yes, these numbers are small when compared to Linus' investments. But for someone who doesn't have stable income for past 10 years, having some money saved has been my savior. And most of those savings come from stocks and bonds.

 

I wouldn't invest into GameStop. Nor in Nokia or Blackberry. Those are too volatile to guarantee any long-term gains. Those are good for getting experience. As you can time your purchase and selling to gain most out of current fluctuations. But spending more than couple hundreds? Nah.

[cachethrash]

Not sure if this is a thing that exists in Canada, but there's a way in the US to directly donate stock shares to charity. The reason is to avoid taxes on the sale of the stock, and instead donating the entire stock proceeds directly. If it comes to that. And if the fat cats even allow Linus to buy that much stock.

[Alan G]

54 minutes ago, LogicalDrm said:

I wouldn't invest into GameStop. Nor in Nokia or Blackberry. Those are too volatile to guarantee any long-term gains. Those are good for getting experience. As you can time your purchase and selling to gain most out of current fluctuations. But spending more than couple hundreds? Nah.

This is not investing but gambling on pricing.  There is no tangible investment thesis for GameStop but there is a gambling approach in the same manner that card counting works in Black Jack.

[LogicalDrm]

8 minutes ago, Alan G said:

This is not investing but gambling on pricing.  There is no tangible investment thesis for GameStop but there is a gambling approach in the same manner that card counting works in Black Jack.

You may call it whatever you want. Its still investing if you put your money on something where you expect a return. Its donation if you don't expect any return. So Linus might as well be donating to saving GameStop.

[Rugg]

2 hours ago, LogicalDrm said:

I actually do somewhat agree with you. Though I think Linus should go on with investment, just not the $50k. More like just matching the donations, not 5x matching them. At very least, it might teach him some humility and meaning of research and strategy.

 

I'm bit disappointed to see, yet again, that Linus gets such blind support from people who have no idea what he's dipping into. You all talk about him losing $50k is nothing to him. You mean he's acting when he's showing disbelief for spending tens of thousands of dollars in camera gear or workshop tools? Is he acting there when he knows he will make that money back in long term? Vs now just dropping $50k to something he doesn't know anything about? He can't know (no one knows) when the prices will crash and stock is again worth nothing.

 

For me, this isn't just about showing power of the internet and beating big men in their own game. While that might have been the beginning, the current movement isn't about that anymore. Its crazyness which can have effects on both sides, the big business, smaller business, banks, insurance companies and the individual investors. There's too much emotions connected, its not about calculated gains.

 

I have personally lost €1500 in badly timed investment decision. I was lucky as the bonds I invested in had insurance. Wait 5 years and cash back half if the criteria was matched. The profits would have been 10-50% of investment. I put €3000 into metal exchange 6 months before 2008/9 market crash. I also still have some stock in national airline. Still waiting on those to raise after 2008 crash and now COVID. Yes, these numbers are small when compared to Linus' investments. But for someone who doesn't have stable income for past 10 years, having some money saved has been my savior. And most of those savings come from stocks and bonds.

 

I wouldn't invest into GameStop. Nor in Nokia or Blackberry. Those are too volatile to guarantee any long-term gains. Those are good for getting experience. As you can time your purchase and selling to gain most out of current fluctuations. But spending more than couple hundreds? Nah.

Personally I believe investing in individually picked stocks has never been the way to get consistent gains.

 

He only got so much donation money because he specifically said it would be for this $GME nonsense.

 

[Rugg]

Also, Linus said they he would ride the stocks into the ground, meaning he knows he will lose money. No person who is actually so very cheap and careful with their finances would say such a thing.

[LogicalDrm]

10 minutes ago, Rugg said:

Personally I believe investing in individually picked stocks has never been the way to get consistent gains.

 

He only got so much donation money because he specifically said it would be for this $GME nonsense.

 

I don't mind picking the companies by hand. Its good learning process of how things work, and can be fun and exiting. Like buying stocks with couple of hundreds and selling them with minimal profits.

 

2 minutes ago, Rugg said:

Also, Linus said they he would ride the stocks into the ground, meaning he knows he will lose money. No person who is actually so very cheap and careful with their finances would say such a thing.

He is also entertainer and might say something without thinking of consequences.

[AdmiralKird]

This isn't going to really hurt hedge funds. The whole point of a hedge fund is it trades on both ends of the equation to hedge the bet; its in the name. Nor are any of those gains or losses on the derivatives side realized until the contracts come due on the third Saturday of the month - in about three weeks. If the stock itself was originally being shorted by these hedge funds than they would have also bought calls months ago, in which case Melvin Capital and the like are now making money when the stock goes up. It's just going to hurt individuals who had shorted Gamestop and don't have their positions properly hedged, and all the people buying into this now.

You had a stock valued on its fundamentals at around $10, then people boosted the value artificially, now it costs $300 when it's worth about $10. All those people that put money in it since are just going to lose it. No one is going to give you $300 for a stock worth $10. It's a pyramidal pump and dump, it's the same thing that happened with bitcoin several years ago when its price suddenly spiked way above comparable long-term storage assets. This whole thing is driven by scammers using social media to manipulate others into making them wealthy by giving them money. Its not the hedge funds giving them money, it's the people behind them they're encouraging to "invest" because they're sticking it to "bad people."

It's a scam.

 

And ya'll should stop and think about the company at the center of this. This is Gamestop. There has never been a retailer that deserves to go out of business more than Gamestop. Their entire business model for decades has relied, at its core, to largely preying on kids for their entire game collections, buying them up at 1/5th their market value, giving them credit for one new game, then turning around and selling everything that kid owned for a huge profit. How is this a corporation that should be saved?

[Zodiark1593]

11 hours ago, Rugg said:

You can't lose $500k if you promised to spend $50k. Worst case is you lose $50k.

Can’t say the same of the dummy Hedge Fund Managers that chose to short the stock.  Linus may have shot himself in the foot here, but bears have pretty much shot themselves in the face.

 

[urbancamper]

None of it matters. Title of his latest LTT video is"My Wife Said No..."

So anyone with brains knows, happy wife, happy life. Wife wins!!!

 

Leave our tech guru alone.

 

 

[piratemonkey]

17 hours ago, Dtx1 said:

There are real jobs, real people, real lives involved and as much as i want to stick it to the big hedgefond guys i don't find it funny to see LTT or Linus get sucked into this.

I hope you know no one is shorting the stock anymore. As others have said, LMG/Linus might get a slap on the wrist at most. This is all Linus money, otherwise that could be embezzlement (you know, stealing corporate funds from LMG). This is literally hurting no one, except maybe Gamestop but they'll probably be in the same spot as they were when they started

[Master Disaster]

Hey guys and girls, here a thought, its pretty out there but please stick with me.....

 

How about everyone keeps their noses out of Linus's personal life and stops trying to tell him what he should do, or not do, with HIS MONEY.

 

Linus is a big boy and the only other person who has any say in his decisions about his own money is his wife.

 

I mean, discussing it is one thing but the amount of people in this thread trying to tell him what to do is staggering.

[Jam Rocket]

Linus is a man of his word and if we don't stop him, he will go through with this 50k GAMESTOP purchase.
 

WE CANNOT MAKE HIM DO THIS.
 

We had the power to do it... We have the power to stop AND WE SHOULD.
 

He can still buy in. We can still have our fun. BUT 50k is just not the correct thing to do. It's not right for necessary for the Gamestop situation, it won't hold the price up. The fact it's even gone this far has raised enough publicity from his end.
 

Its not right financially - I'm sure if we are determined he has to spend 50k then at least SOME of it should go on other things but I think that is even too far. Charity, investment in the company, Fan giveaways. HIMSELF (THEY GUY HAS HARDLY ANY TIME OFF). This is NOT the right thing to do with 50K
 

MORE Importantly - Its NOT right for us to do it to Linus and we have to show him he doesn't have to do it and WE have his back as people who care for him and who are grateful for his content. Remember the things he was saying last year - I don't want this to push him over the edge with regards to his future and burn out.
 

THIS IS AN OPPORTUNITY TO SHOW LINUS HOW GRATEFUL HIS FANBASE IS. PLEASE LETS DO IT!
 

I propose 1x on GAMESTOP and a Further 1x to Charity or other good causes. If anyone has other ideas please let them be know. BUT WE MUST LET HIM KNOW HE DOESN'T HAVE TO DO THIS.

Please... lets show him we care and we're not just reckless a-holes out for destruction. 

 

Can you show some support for this please - and if you can go to the subreddit and upvote my original post...

https://www.reddit.com/r/LinusTechTips/comments/l8vehi/gamestop_we_cant_ask_linus_to_do_5x_please_upvote/

[WhitetailAni]

It's his money.

He can do what he wants with it.

[Dillpickle23422]

We DONT have the power to stop him, actually, in the same way that the citizens of communist countries have no control over their govt.

[Loki0111]

I love how there is this influx of completely new accounts who are posting about a single topic and panicking about Linus spending 50k of his own disposable money on a stock.

 

I seriously doubt there is a "we" here. No offense you guys actually suck at this, you couldn't be anymore transparent at this point.

[Dillpickle23422]

2 minutes ago, Loki0111 said:

I love how there is this influx of completely new accounts who are posting about a single topic and panicking about Linus spending 50k of his own disposable money on a stock.

 

I seriously doubt there is a "we" here. No offense you guys actually suck at this, you couldn't be anymore transparent at this point.

yeah lol

[LogicalDrm]

13 minutes ago, Jam Rocket said:

Linus is a man of his word and if we don't stop him, he will go through with this 50k GAMESTOP purchase.

Merged to previous thread about same subject.