It comes off rather grim.

But, this is just a letter to set the stage for RC as the new CEO, what his employees can expect of him. Grim maybe, but it might just be hard dose of reality.

Recent words by Pulte also seem to lean towards this notion that we are up against powerful forces that oppose our success, and that victory won't be easy.

RC has emphasized to judge him by his actions and not his words. And, from my point of view, the action sequence in summary has gone kind of like this:

• RC buys in to GameStop
• RC replaces the entire board and becomes chairman
• GameStop raises $1.7 billion through the 2 ATMs, pays off debts, provides funding for operations, etc.
• 2 years later GameStop currently holds nearly $900 million in cash and a negligible amount of debt
• GameStop's recent quarter showed very small losses overall, a major improvement over previous years
• RC is now in the CEO chair and has the most at stake here

Though this letter has a particular tone that might come off as grim, it seems to me like GameStop is in a pretty safe position regardless. I've seen some comments on Reddit about appearing weak when you are strong, that whole art of war thing.

In any case, I trust that RC is the man for the job, he puts his money where his mouth is, and he works hard. I feel confident knowing that the interests of this person leading the company are in alignment with my own interests as a shareholder.

This doesn't sound like him at all. I've posted a comment coming from the Reddit subs, but it seems like a bunch of his interviews, put into ChatGPT and spewed a bunch of negative sentiment.

I then noticed, "we must be profitable." That's not something he'd say like that. He always has learned the intersection of customers and profitability. Definitely not how his father taught him.

I find it odd, that people immediately jump to calling something like this fake, because it doesn't fit their idea of how something like this should read. Ryan Cohen has repeatedly shown that he has zero patience for people who aren't going above and beyond at their job. He has also said he wouldn't become CEO. To me this reads like his plans aren't working out and he has to take it in his own hands now.

I still believe the short thesis is correct, the shutting off of the buy button, the vanishing stocks in Germany after the split, it's all unprecedented.

That doesn't mean that Cohen, or the former CEO couldn't have made some bad calls running the business. The whole NFT thing was dead on arrival and didn't even address the second hand digital game market as it should have, but focussed on really wierd gaming experiences.

This doesn't seem too out of character to me.

The letter is so out of character that it's almost hilarious... after 3 years of silence he comes out with this doom and gloom crappy letter? If somebody crafted a letter for maximum spin-effect of painting GameStop in a negative light, it could hardly be more perfect.

I know what Mr. Occam and hir razor would believe in this scenario.

I don’t know if I can link to Reddit here but, I think this post says it all: https://reddit.com/r/Superstonk/s/V2fc4761Ui

This is obviously fake. Not the tone of a corporate letter, an unexpected negative sentiment, not a single shred of evidence that it is real besides an anonymous twitter account.

edit: now apparently it's confirmed. I'll be damned.

once their idea for an NFT store failed it had to reconsider its options

The final nail in the coffin of the 'it's legit' argument: https://www.reddit.com/r/Superstonk/comments/16van7s/indisputable_proof_ryan_cohen_did_not_write_the/

Fake fuckin news