Support Your Freedom to Speak:
WHO IS BEHIND GAMESTOP? – an idiot’s guide.
channel image
kodoan
3 Subscribers
70 views
Published 3 years ago
Idiot's guide to gamestonks: https://www.brighteon.com/b26c1b0f-e51c-420a-a20c-5b34c3158213


WHO IS BEHIND GAMESTOP?
– an idiot’s guide.



Hi! This is Kodo with Kodoan. You can find out more about me at kodoan.com.

That’s K O D O A N DOT COM.

If you keep hearing about GameStop and were kinda hoping for an “idiots guide” version of who is behind it – heads up! this might be just what you’re looking for!

Three days ago, I made a video giving an overview of what GameStop is. I’ll leave a link in the description below to that video for those of you who want to brush up on your GameStonk. Today, however, I’ll explain more about “who”….exactly...Gamestop is.

GameStop, the now infamous American video game retailer who was, up until a month ago, most famous for how stingy they were in paying people for their used video games, started out in life way back in 1983 in Dallas, Texas. Back then, it was called Babbage’s Inc.

Babbage’s was a clever name to give a computer products store as it was named after the English genius Charles Babbage, who was credited with creating the world’s first computer. Charles Babbage was Born on December 26th 1791 and died on October 18th, 1871. Being elected a Fellow of England’s Prestigious Royal Society in 1816, Babbage was a brilliant mathematician, philosopher, inventor and mechanical engineer. He invented the “difference machine” – a sort of precursor to the modern calculator and then the “analytical Engine” which was basically a low-level, fully functional, general purpose computer.

“OK”, you say, “I got it...Babbage...smart guy, clever name...get on with it.”

Sorry, just thought that was some cool background stuff – OK, back to the Idiot’s Guide!

Babbage’s the company, started out as an idea between two Harvard Business School classmates; James B. McCurry and Gary M, Kusin in the mid-1970s. They talked about going into business together but ended up going their separate ways after graduation. However, in 1982, McCurry approached Kusin with a business proposal to establish a chain of software stores that would capitalize on the growing home computer and video game industries.

McCurry, who was working as a consultant for the San Francisco office of Bain & Company, believed a specialty store for computer equipment and games would be a hit. Kusin, who at the time, was a general merchandise manager for the Sanger-Harris division of Federated Department stores based in Dallas, had been watching these exact type of stores gradually take over more and more of the department store business. He jumped on board and, by the end of the year both men quit their jobs and began seeking financing for their new idea.

There was no “shark tank” back then to pitch their idea and none of the venture capitalists of that time seemed interested. That is until February of 1983, when Texas billionaire and later 1996 Reform Party Presidential candidate Ross “Call Me Ross” Perot offered to provide a $3 million dollar credit line in exchange for a one-third ownership in the company.

Perot, who knew Kusin’s family back in Texarkana, advised the entrepreneurs to shelve their plan for immediately opening twenty stores in favor of establishing just one outlet – which they would manage themselves until they knew the business inside and out.

Taking both Perot’s money and advice, Babbage’s was filed with the Texas Secretary of State as a Domestic For-Profit Corporation on Monday, April 4, 1983 (Texas State ID: 64995100) and McCurry and Kusin opened the first Babbage’s in a Dallas regional mall on Monday, May 30th, 1983 – Memorial Day.

McCurry, the company’s chairperson, managed the company’s finances, while Kusin, the company’s president, acquired software products from local distributors. Both partners took turns opening and closing the store and seeing to other administrative details.

McCurry and Kusin focused on a constantly updated mix of products, a competitive pricing system, a flexible store design and an enthusiastic, non-commissioned sales staff that would not intimidate customers with technical jargon.
Keywords
redditgamestopshort squeezegame stopwallstreetbetsgamestonkwall street betsgamestonksgame stonkgame stonksstonkstonksshortsqueeze

FREE email alerts of the most important BANNED videos in the world

Get FREE email alerts of the most important BANNED videos in the world that are usually blacklisted by YouTube, Facebook, Google, Twitter and Vimeo. Watch documentaries the techno-fascists don't want you to know even exist. Join the free Brighteon email newsletter. Unsubscribe at any time. 100% privacy protected.

Your privacy is protected. Subscription confirmation required.