"“I did not want to be the CEO of GameStop. I want to be the CEO of eBay,” he said. “I'm passionate about eBay. I believe in eBay's business. I wasn't passionate about GameStop. That's the difference.”"
"Cohen claimed that eBay could become more successful by dramatically cutting sales and marketing costs, and by using GameStop's 1,600 US stores as “a national network for authentication, intake, fulfillment, and live commerce.” But eBay's board told Cohen that the company can succeed with its current plan."
"“eBay is a strong, resilient business that has delivered meaningful results over the past several years,” the board's letter to Cohen said. “We have sharpened our strategic focus, strengthened execution, enhanced our marketplace and seller experience, and consistently returned capital to shareholders. With its differentiated global marketplace and a clear strategy, eBay's board is confident that the company, under its current management team, is well-positioned to continue to drive sustainable growth, execute with discipline, and deliver long-term value for our shareholders.”"
"“Cohen's eBay account was initially flagged for suspicious activity by eBay's internal artificial-intelligence tool, leading to an automatic ban, a person familiar with the matter told MarketWatch. But after further review, his account was reinstated and he is now able to buy and sell again,” MarketWatch wrote."
Cohen said he wanted to be CEO of eBay rather than CEO of GameStop, stating he was passionate about eBay’s business and not passionate about GameStop. He claimed eBay could improve by cutting sales and marketing costs and by using GameStop’s 1,600 U.S. stores as a national network for authentication, intake, fulfillment, and live commerce. eBay’s board responded that the company is strong and resilient, with sharpened strategic focus, strengthened execution, improved marketplace and seller experience, and consistent capital returns. Cohen also sold personal items on eBay to raise money for a $55.5 billion offer. His account was temporarily suspended due to suspicious activity flagged by an internal AI tool, then reinstated after review.
Read at Ars Technica
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