Business | The Verge

eBay rejects GameStop’s $56 billion acquisition bid

2026-05-12T06:55:02-04:00

No thank you, we’re good. | Photo by Brandon Bell/Getty Images

eBay has officially rejected GameStop's offer to buy the online marketplace for $56 billion, citing concerns around "operational risks" and how the acquisition will be financed. In a letter to GameStop CEO Ryan Cohen on Tuesday, eBay's board of directors said it has "concluded that your proposal is neither credible nor attractive."

"We have taken into account such factors as 1) eBay's standalone prospects, 2) the uncertainty regarding your financing proposal, 3) the impact of your proposal on eBay's long-term growth and profitability, 4) the leverage, operational risks, and leadership structure of a combined entity, 5) the resulting implic …

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Palantir’s true believers are wearing this jacket

2026-05-12T08:27:13-04:00

In late April, Palantir - the software company that, in recent years, has perhaps become best known for its defense industry contracts and work with Immigration and Customs Enforcement - announced that it would be adding new products to its merch store. The latest offering was a cotton chore coat.

At $239 and in bright blue and black options, the jacket looks like a standard offering that has, by way of photographer Bill Cunningham, trickled down into mainstream menswear for years. This jacket is a pastiche of 19th century French workwear that was worn by people actually doing physical labor; the only noticeable difference is that a dainty …

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Nintendo is raising Switch 2 prices

2026-05-08T05:43:32-04:00

Nintendo is raising the price of its Switch 2 console globally, "in light of changes in market conditions," and is now forecasting a drop in sales over the next year. Starting September 1st, the Switch 2 will cost $499.99 in the US, up from its current $449.99 price.

At the same time, prices will also increase by $50 in Canada ($679.99, up from $629.99) and €40 in Europe, bringing it to €499.99 (about $587). The price increases in Japan go into effect sooner, on May 25th, and impact a greater range of Switch products. The Switch 2 will increase from ¥49,980 (about $318) to ¥59,980 (about $382), with similar increases being applied to the o …

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The clippening

2026-05-07T13:10:06-04:00

Earlier this year, after a tumultuous period serving as the former second-in-command at the FBI, Dan Bongino went back to what he is perhaps known best for: video podcasting. After Bongino exited the role in January, he began promotion for the return of his podcast, The Dan Bongino Show. He bought out a billboard in Times Square in New York; he dropped teaser videos for his first new episode in months. Bongino also deployed a more experimental promotional tactic, aimed at getting portions of his show in front of a wider audience. For this, he used clippers.

Clippers are largely anonymous social media accounts whose sole purpose is to rack …

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OpenAI’s president does ‘all the things,’ except answer a question

2026-05-05T20:40:47-04:00

When the bromance sours, we all end up in court. | Image: Cath Virginia / The Verge, Getty Images

The strongest witness for Elon Musk's case against OpenAI so far has been Greg Brockman's journal. Brockman himself is running as a close second.

Brockman was called to the stand in a rather unusual way - he was cross-examined first, followed by a direct examination - and he had some serious high school debate club energy. There was a lot of "I wouldn't characterize it that way," "I wouldn't say it that way," and "That sounds like something I wrote. Can I see it in context?" When Musk's attorney, Steven Molo, read some of the evidence aloud, Brockman would pedantically correct him if he skipped a word, even if that word was "a" or "the." Wh …

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Amazon’s trying to turn its massive shipping operation into another AWS

2026-05-04T12:28:42-04:00

Amazon might have a part in delivering all kinds of stuff to your door soon, as its massive shipping network opens up to other companies outside its marketplace, more directly competing with giants like DHL, UPS, and FedEx. The new Amazon Supply Chain Services (ASCS) will offer freight, distribution, fulfillment, and parcel shipping to businesses "of all types and sizes," including Procter & Gamble, 3M, Lands' End, and American Eagle Outfitters.

With ASCS, Amazon is betting that other companies will pay to use its sprawling fulfillment network - much like they pay to use its web infrastructure, which the e-commerce giant started offering t …

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GameStop makes $56 billion offer to acquire eBay

2026-05-04T09:46:24-04:00

GameStop has made an offer to acquire eBay for $56 billion, which comes as part of GameStop CEO Ryan Cohen's plan to transform the online marketplace into a "legit competitor to Amazon," he tells The Wall Street Journal. In an announcement on Monday, eBay says it will "carefully review" the unsolicited proposal, adding that it had "no discussions with or outreach from GameStop" before receiving the bid.

GameStop says it will fund the acquisition using $9.4 billion on the company's balance sheet and third-party financing, including up to $20 billion from TD Securities. As noted by the WSJ, the company doesn't say how it will fund the rest of …

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Spirit Airlines shuts down after Trump’s war on Iran doubled jet fuel prices

2026-05-04T05:34:50-04:00

Spirit Airlines planes are parked on the tarmac at the Fort Lauderdale-Hollywood International Airport on May 02, 2026 in Fort Lauderdale, Florida. | Getty Images

The ultra-low-cost air carrier Spirit Airlines shut down operations after 34 years in business and canceled all flights at 3AM ET on Saturday morning. Its website now redirects to spiritrestructuring.com, instructing fliers not to go to airports, with air traffic control records capturing controllers and pilots signing off to each other as its last flights came in for landings after the shutdown was announced.

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A statement on its website said that for people who purchased tickets directly, "Refunds for tickets purchased by credit card and debit card have been issued, and will be processed by …

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Rivian’s revenue is up as R2 production kicks into gear

2026-04-30T17:38:05-04:00

Rivian reported its first quarter earnings of 2026, providing us a closer look at the company's financial health as it kicks off production for the crucial R2 electric vehicle.

We've already got Rivian's production and delivery statement from the first three months of the year. The company sold 10,365 vehicles in Q1, representing 20 percent increase year over year. And it produced 10,236 vehicles at its factory in Normal, Illinois, which represents a 30 percent increase compared to the same period last year. The company also reaffirmed its prediction that it will sell 62,000-67,000 vehicles this year.

In terms of earnings, Rivian said it …

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Meta lost 20 million users last quarter

2026-04-30T07:49:17-04:00

Meta is planning to pump billions more into AI investments this year, despite noting that millions of users have seemingly started to abandon its platforms. In an earning call on Wednesday, Meta reported that figures for "Family daily active people" - the term Meta has coined for all collective users of Facebook, Instagram, WhatsApp, or Messenger - declined by 20 million this quarter compared to the previous three months.

Meta attributes this fall to "internet disruptions in Iran, as well as a restriction on access to WhatsApp in Russia." It's up to you whether you take Meta on its word, given that by bundling the user stats together across …

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