Ryan Cohen pitched a $56B offer to acquire eBay, citing mismanagement, rising costs, and stalled growth. The GameStop CEO outlined a three-part turnaround plan: cutting $2B in expenses, expanding live commerce, and building a digital marketplace for in-game collectibles. eBay's board rejected the bid, but Cohen remains committed to pursuing the acquisition despite media skepticism and management resistance. Cohen built Chewy into a $3.35B exit by obsessing over unit economics, negotiating fiercely with suppliers, and maintaining negative working capital while competing directly against Amazon.