StubHub CEO is Reportedly Ticket Scalping Ringleader [QrZ9kayeJT5]
StubHub CEO Eric Baker built his company's reputation on being a neutral marketplace for fans, but SEC filings just revealed he also runs a hedge fund that bankrolls the same scalpers who dominate his platform. A class-action lawsuit filed this week accuses Baker and StubHub of deceptive practices after thousands of World Cup ticket holders were left stranded outside stadiums with tickets that never existed. We break down how a ticket bought for $100 can net a scalper 400% to 1,000% profit, and why StubHub might be less referee than player. DeepSeek shook Silicon Valley last year by building frontier-level AI at a fraction of the cost, and now it's finalizing paperwork for an IPO that could value the company near $71B. American companies like Airbnb, DoorDash, Coinbase, and Uber have quietly started swapping expensive US models for cheaper Chinese alternatives to cut ballooning AI bills. One analyst says China's models run six to nine months behind the frontier. So why are some of the biggest names in tech deciding that's close enough? Béis, the luggage brand founded by Shay Mitchell, just redesigned its bestselling Weekender bag using the exact TikTok comments that trashed it. The brand catalogued every complaint about ripped straps, jammed zippers, and TSA-machine snags, then built its next collection around the worst reviews it could find. Béis now pulls in over $250M a year and out-follows Away two to one on Instagram, all while Samsonite and Rimowa still control a quarter of the global luggage market between them. So how does a brand turn its angriest customers into its best product team? CHAPTERS: 00:00 - Intro 00:47 - StubHub CEO Eric Baker Sued Over Ties to a Mass Ticket-Scalping Operation 05:20 - DeepSeek Preps IPO at a $71 Billion Valuation as US Companies Buy Chinese AI Dupes 09:53 - Béis Turns TikTok Hate Comments Into a Product Redesign — The Grievance Growth Hack 14:00 - Takeaways 14:40 - Other Market and Business News 16:19 - The Best Fact Yet Buy tickets to The IPO Tour (our In-Person Offering) TODAY San Francisco 9/23 - Boston 10/14 - Seattle 11/4 - Get your TBOY Yeti Doll gift here: NEWSLETTER: OUR 2ND SHOW: Want more business storytelling from us? Check our weekly deepdive show, The Best Idea Yet: The untold origin story of the products you're obsessed with. Listen for free to The Best Idea Yet: NEW LISTENERS Fill out our 2 minute survey: GET ON THE POD: Submit a shoutout or fact: SOCIALS: Instagram: TikTok: YouTube: Linkedin (Nick): Linkedin (Jack): Anything else: About Us: The daily pop-biz news show making today’s top stories your business. Formerly known as Robinhood Snacks, The Best One Yet is hosted by Jack Crivici-Kramer & Nick Martell.