I recently read an article entitled “Game Over for Gamestop” on a website called SeekingAlpha.com which suggested that Gamestop as a business will collapse at some vaguely defined point in the near future if their business model does not change. Now I see several flaws in the theory and logic that they are using to make this claim, but let’s begin at the beginning. Who is Seeking Alpha?
Seeking Alpha is, first and foremost, a blog. It is not news. It’s not market research. It is a financial blog that attempts to guide stock market investors with tips, analysis, and sometimes the support of news. They are making an argument and drawing a conclusion. According to their About Seeking Alpha page “Seeking Alpha is the premier website for actionable stock market opinion and analysis, and vibrant, intelligent finance discussion.” And yes they really did boldface their font just like that to jump out at you so you won’t have any delusions about who they are or what their business mission is. Now as with every business in the modern competitive world, they have to justify who they are and why we should be reading this blog as opposed to say the online Wall Street Journal. In answer to this quandary, they respond “Seeking Alpha differs from other finance sites because it focuses on opinion and analysis rather than news, and is primarily written by investors who describe their personal approach to stock picking and portfolio management, rather than by journalists.” And once again they did feel the need to bold those specific phrases so there would be no confusion. So putting this all together, Seeking Alpha is a blog written by investors seeking to provide financial advice with regard to the stock market. They are not journalists, which I believe is a two-fold point. They are not writing news so if you are looking for stock market news, turn around and run the other way. Secondly, they are investors not journalists, but specifically not stock market (Wall Street Journal?) journalists. They are not judging companies based on the news of that company. Well really they are, but that’s not why they are here. They are here to take the news and take the history and take the products and take the numbers and take their own investment experience and coalesce all of that information into a coherent opinion of the company specifically with an eye toward consumer advice. Really this just makes them bad editorial journalists and product reviewers, but I digress as that’s an argument for another time. Now I apologize for having spent my first 500 words on this website and I’m sure you’re wondering what any of this has to do with games and gaming, but don’t worry I’m getting there.