Millennial Addiction To Comforting Nostalgia Making Hedge Fund Manager Very Rich

Thanks Pokemon Go!
Author:
Publish date:
By Xabi Vazquez (Flickr: game boy color) [CC BY 2.0], via Wikimedia Commons

via Wikimedia Commons

For a week-old free gaming app, you’d have to admit that Pokémon Go is pretty impressive. Just look at the numbers: Five percent of Android users had installed it within two days—and they’re now more interested in it than in hooking up with Martin Shkreli. Players are off seeking 20-year-old children’s TV show monsters in virtual reality for 43 minutes a day, more than they waste on WhatsApp or Instagram or Snapchat. It’s added $10 billion to minority owner Nintendo’s bottom line over the past week. Undoubtedly, we’ll shortly learn that the number of vehicular accidents involving pedestrians has gone through the roof. And it’s all music to Seth Fischer’s ears.

Seth Fischer’s Oasis Management Co. stands to make tens of millions of dollars after a three-year campaign to push Nintendo Co. into mobile gaming. The success of “Pokémon Go,” a new smartphone game part-owned by Nintendo, has boosted the Japanese company’s shares by more than 50% in the past week, adding over $10 billion to its market capitalization.

Now, before some Gaijin hedge fund activist starts taking all the credit for this revenueless renaissance, let Nintendo make one thing perfectly clear:

“Our decision to tap into the smartphone game [market] was not due to any particular advice from any particular investors,” a Nintendo spokesman told The Wall Street Journal in response to questions about Oasis and the role of outside shareholders.

Monster Bet on ‘Pokémon Go’ to Pay Off for Hong Kong Hedge Fund Manager [WSJ]
Pokemon game adds $7.5 billion to Nintendo market value in two days [Reuters]
Pokemon GO Ousts WhatsApp, Instagram in Daily Usage Time [Bloomberg]

Related