

Roblox and Crocs. Plus, Van Eck On the Market
Jul 4, 2025
Jan Van Eck, CEO of VanEck, offers insights into the changing landscape of investments, focusing on sectors like gold and Bitcoin. The conversation explores Roblox's rising stock and its appeal to youthful audiences, including the surprising success of 'Grow a Garden.' Van Eck also contrasts the game economy with fashion trends, highlighting Crocs' recent struggles. Moreover, he discusses the significance of navigating the U.S. budget deficit and the potential of AI to reshape investment strategies, urging diversification for future stability.
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Roblox Teen Makes Big Money
- Grow a Garden, a Roblox fake farming game, made $150 million bookings shortly after launch.
- The 16-year-old creator sold stake and control at just about a thousand simultaneous players, highlighting game revenue potential.
Grow a Garden Already Priced In
- Roblox's Grow a Garden added just 4% to revenue but increased valuation by 72%, implying overpricing.
- Current Roblox stock trades at 62 times next year’s free cash flow, suggesting high expectations.
Roblox vs Crocs Valuation Gap
- Roblox and Crocs had near $4 billion sales each last year but vastly different market caps: $74 billion vs. $6 billion.
- This raises questions if Roblox is overvalued or Crocs undervalued despite different sector valuations.