Squawk Pod GameStop’s Ryan Cohen, a Stapler, & Billionaire Ken Langone 7/15/25
Jul 15, 2025
Ken Langone, co-founder of Home Depot and a prominent philanthropist, shares his thoughts on local politics and the national economy, expressing faith in Andrew Cuomo. Ryan Cohen, CEO of GameStop and meme-stock mogul, discusses his unique auction featuring a stapler, reflecting on the absurdity of current market behaviors. The conversation also touches on the resurgence of AI chip sales and Starbucks' call for remote workers to return to the office. Both guests provide insights on the evolving business landscape and political dynamics in New York.
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Ryan Cohen's Stapler Auction
- Ryan Cohen auctioned a stapler that damaged a Nintendo Switch and included the refurbished Switch and his underwear as collectibles.
- He joked about delivering the underwear personally and taking the winner to McDonald's, showcasing his quirky engagement with investors.
GameStop's Strategic Shift
- GameStop is now a smaller, more profitable business focusing on collectibles, away from hardware and software.
- The company holds a strong balance sheet with over nine billion dollars in cash and marketable securities.
CEO Alignment with Shareholders
- Ryan Cohen receives no CEO compensation and invests his own capital to align with shareholders.
- He criticizes executives collecting risk-free compensation and aims to maximize shareholder value responsibly.