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$SNE, MASSIVE DOUBLE DICK INSIDE. Poised to moon long-term (Computer vision boom, EV boom, autonomous driving tech, gaming boom, music streaming boom, cross-media IP, vertically integrated anime streaming monopoly, online medical services boom, shift to mirrorless cameras)

$SNE, MASSIVE DOUBLE DICK INSIDE. Poised to moon long-term (Computer vision boom, EV boom, autonomous driving tech, gaming boom, music streaming boom, cross-media IP, vertically integrated anime streaming monopoly, online medical services boom, shift to mirrorless cameras)
Listen up retards. Do you happen to feel regret because you always think “ohhh if I yoloed my savings on TSLA/AMD/NVDA 🚀 leaps years ago I could be rich by now!!!”
Well if you didn't know already, it doesn’t really matter what happened in the past. Hindsight will always be 20/20. You shouldn’t be harsh on yourself on your past self that your past self wasn’t retarded enough to yolo their savings into AMD/TSLA/.... Your past self doesn’t have the same knowledge that your current self has. It’s fine. If you judged those stocks with the best DD you could do at the time and didn’t think they were worth it, then you did a good job.
If you always think about what you could/should have done in the past, then you don't have the right attitude to play the stock market casino imho.
The single most important thing is to be able to look ahead. There are always plenty of opportunities around. There are thousands of rockets that are still on earth right now. Some may depart this year, others will stay a little longer on earth. The true strength lies in being able to identify those rockets with the knowledge you have right now. And if you still miss most rockets that will take-off this year that's fine, maybe you'll learn, get better and you'll do better next year.
Now, what if I told you there’s a big rocket that’s parked right right here on earth and it has decent chance for take-off this year? Maybe it won't quite reach the moon this year yet, but hey leaving the exosphere should already be a cool milestone.
It has rock-solid fundamentals and will see lots of growth in the following years/decade.
It’s a company that has the fundamental technology to power all the computer vision tech, which is bound to boom this decade.
The company we’re talking about is of course Sony, and it is extremely undervalued right now.
Its P/E is only 14. They have a P/S of 1.65, a PEG of 0.92 (< 2 is already somewhat exceptional for a company/conglomerate of Sony’s size, under 1 is a steal)
Much lower than all of its same-sector peers. This indicates significant undervaluation.
Next up Sony has a P/CF 13.2, ROE of 20% (S&P 500 average is 14% which would already be considered pretty good. 20% ROE is excellent), PEGY of 0.89, P/B of 2.65 and finally Sony has $41.6B in cash on hand. This makes Sony one of the cheapest tech/entertainment/EV/semiconductor growth stocks you will find on the market.
(ROE of 20% + PEGY of 0.89 + PEG of 0.92 means this company is a growth stock based on the numbers alone, but we’ll dig into the actual company and overall outlook in a moment)
I challenge all retards to find a company with similar benchmarks in one of the mentioned sectors, seriously.
Quite frankly doing this DD honestly blew my mind. I kept looking everywhere for reasons why the company could be so undervalued and why they may struggle in the future. Very important to look at all the challenges the company faces to make sure I’m not just doing confirmation bias DD. But all I could find was the opposite. After several weeks and months of working on this DD, I can only conclude that it is overall a very solid company for a bargain price. The new CEO is taking the company in a great direction imho and I'm begin to think he could be Sony's Satya Nadella.
So if you want some easy tendies, maybe consider $SNE while it is still cheap, I’d say.
For the autists out there who care about analyst ratings, SONY ($SNE) currently has 18 BUY ratings, 2 OVERWEIGHT, 4 HOLD and 0 SELL. (= analyst consensus is a STRONG BUY). Very little analysts cover this stock compared to other entertainment/tech companies, so this adds to my assertion that the stock is very much under the radar. Which means you have time to get in before it gets noticed by the larger investing world and before it starts to get a more fair valuation (P/E of around 30 would be more fair for this company I think, but still cheaper than many same sector peers). But, anyway the few analysts who do happen to cover this company are basically all saying it’s an instant-buy at its current price.
Most boomer investors still think big Japanese tech companies are dinosaurs that have long been surpassed by China, South Korea and Apple etc ages ago. Young boomers may think Sony = PlayStation and that it's it. But the truth is that PlayStation, while very important (about 24% of Sony's total revenue last year), is a part of a larger story.
Lots of investors in general associate Sony with the passé Japanese electronics companies from the 80’s and the 90’s. Just like a lot people may think BlackBerry is a struggling phone company.
While Sony may not be the powerhouse in consumer electronics it was in the 80’s and the 90’s, in a lot of ways they are more relevant than ever before. Despite being a well-known brand and being known as the company behind PlayStation, for some reason its stock still seems to be under the radar among both retail and institutional investors. And boy, are they mind-blowingly undervalued. Even if a big part of its business would collapse tomorrow, they would still be slightly undervalued. And I am about to tell you why.
(& btw compared to Japanese tech/entertainment stocks $SNE is still super cheap (Canon, Nikon, Toshiba, Sharp, Panasonic, Square Enix, Capcom, Nintendo, Fujitsu all have P/E ratios ranging from 18 to 77 and none of them have the combination of global clout, fundamentals & growth prospects that Sony has))
2021 Sony as a corparation is not the fucking Sony from 2005-2015’s, just like BlackBerry in 2021 is not the fucking Blackberry from 2012. Just like Garmin in 2021 is not Garmin from 2011. Just like AMD in 2021 is not AMD from 2012.
No, in 2021, Sony is the global leader in imaging technology and people do not fucking realize it. Sony has 50% marketshare in the CMOS image sensor market. There’s a very good chance the smartphone in your pocket has Sony image sensors (unless it’s a Samsung phone). Sony image sensors are powering a big part of today's vision/camera technology. And they will power even more of tomorrow's computer vision tech.
In 2021, Sony is a behemoth in video games, music, anime, movies and TV show production. Sony is present in every segment of entertainment. Sony’s entertainment branches have been doing great business over the past 5 years, especially music and PlayStation. Additionally, Sony Pictures has completely turned around.
In 2021, Sony is the world’s biggest music publisher (and second biggest music company overall). Music streaming has been a boon for Sony Music and will continue to be.
In 2021, Sony is among the biggest mobile gaming companies in the world (yes, you read that right). And it’s mainly thanks to one game (Fate/Grand Order) that nets them over $1B revenue each year. One of the biggest mobile gaming companies + arguably biggest gaming brand in the world (PlayStation).
In 2021, Sony is an EV company. They surprised the world when they revealed their “Vision-S” at CES 2020. At the reception was fantastic. It is seriously one of the best looking EV’s. They already sell sensors to Toyota. Sony will most like sell the Vision-S's tech to other car manufacturers (sensors for driving assistence / autonomous driving, LiDAR tech, infotainment system).

40 sensors in the Sony Vision-S
Considering the overwhelmingly good reception of the Vision-S so far, I suspect the Vision-S could be another catalyst that will put Sony as a company on the radar of investors and consumers.
We've seen insane investment hype for anything even remotely related to EV over the past year. We've seen a company that barely had a few EV design concepts (oh wait, they had a gravity-powered truck though) even get a $30B market cap at some point lmao.
But somehow a profitable company ($SNE) that has an EV that you can actually drive, doesn't even have a fair valuation?
In 2020’s Sony’s brand value is at their highest point since 12 years. In 2021, it is projected to be a its highest point since 2001 assuming same growth as average yearly growth from 2015 to 2020. Keep in mind brand valuation is a bit bullshitty as there’s no standardization to compare brands from different sectors, let alone non-consumer-facing brands with consumer-facing brands. But one thing we can note is that Sony both as B2C brand and as a B2B company is on a big upwards trend.
https://interbrand.com/best-global-brands/sony/
https://careers.uw.edu/blog/2020/03/17/these-are-the-10-biggest-video-game-companies-in-north-america-shared-article-from-zippia/
In 2021, Sony is an entertainment behemoth. They have grown their entertainment branches by a huge amount over the past 5 to 10 years (they made some big acquisitions in the music space especially and they’re now also all-in in anime). I don’t think people realize how big Sony is as an entertainment company. I dug up the numbers and as of Q3 2020, PlayStation is the second biggest video game company in the world (Tencent is #1) in revenue (I suspect Sony might dethrone Tencent after Sony’s FY Q3 2020 is released). But Sony already comes very close to Tencent especially if you add Fate/Grand Order (which is under Sony Music and not under PlayStation) under PlayStation.
There’s no single other company that has this unique combination of a dominant/important position in all entertainment segments. (video games + music + movies + TV series + anime + TV networks). I guess Tencent maybe?
In 2021, Sony has amazing momentum in the camera space. If you’re familiar with the enthusiast photography space, you should know this. Basically, the market is slowly shifting from SLR to mirrorless cameras. This is because mirrorless cameras tend to smallelighter, have faster AF, better low light performance, better battery life and better video performance. Sony is the company that has been specializing in the development for mirrorless cameras for over a decade while Canon’s bread and butter has always been SLR cameras. Sony is in the lead when it comes to mirrorless cameras and that’s where the market is shifting towards. Because the advantages of mirrorless have become more and more apparent and Sony’s cameras have become technically superior, Sony has gained quite a bit of market share over Canon and Nikon in the last few years. In 2019, Sony overtook Nikon as the #2 camera manufacturer. Sony is in an upwards trend here. (they have the ambition to become the world’s #1 camera brand) Sony also has very good marketing for their cameras. (Sony has a lot of YouTubers / influencers / brand ambassadors for their cameras despite being a smaller brand than Canon)
(just search on YouTube and/or Google “switching to Sony from Canon” just to give you an idea that they do have amazing brand momentum in the camera space. You won’t get as many hits for the opposite)
A huge portion of Sony’s profit comes from image sensors in addition to music and video games. This is in addition to their highly profitable financial holdings division & their more moderately profitable electronics division.
Sony’s electronics division, unlike other Japanese brands, has shown great resilience against the very strong competition from China & South Korea. They have been able to maintain their position in the audio space and as of 2020 are still the global market leader in high-end TV’s (a position they have been holding for decades) and it seems they will continue to be able to maintain that.
But seriously this company is dirt-cheap compared to any of its peers in any segment and there’s various huge growth prospects for Sony:
  • CMOS image sensors & Sony’s overall imaging prowess will boom due to increased demand from automotive sector, security & surveillance industry, manufacturing industry, medical sector and finally from the aerospace & defence industry. On the longer term, image sensors will continue to boom due to increased demand for computer vision & AI + robotics. And for consumer electronics demand will remain very high obviously.
  • Sony is aiming for 60% market share in the CMOS image sensor market by 2026. Biggest threat here is Samsung here who have recently started to aggressively invest in image sensors and are challenging Sony. Sony has technological lead + higher production capacity (and Sony will soon open a new plant in Nagasaki), so Sony should be able to hold off Samsung.
  • The iPhone 12 Pro has 3 cameras + a lidar sensor. Apple now buys 3 image sensors (from Sony) + LiDAR sensor (from Sony) per iPhone 12 Pro they manufacture. Remember the iPhone X and iPhone XS? That one had “only” 2 rear cameras (with image sensos from Sony of course). Basically, Sony will be selling exponentially more image sensors as more smartphones get equipped with more and more cameras.
  • Now think about how many image sensors Sony can sell to Apple if the iPhone 13 will have 5 cameras + LiDAR sensor (I mean the number of cameras on smartphones certainly won’t decrease)
  • Gaming (PS5 hype, PSN game sales are booming, add-on content is booming, PS+ subscribers count is booming and finally PSNow & first-party games sales are trending upwards as well). Very consistent year-on-year profit & revenue growth here. They have a history of beating earnings expectations here. The number of PS+ subscribers went from 4M to 48M in just 6-7 years. Investors love to hype up recurring revenue and subscription services such as Disney+ and Netflix. Let’s apply the same logic to PS+? PS+ already has more subscribers than HBO Max in the USA.
  • PlayStation (video games in general) has not even scratched the fucking surface. Most people who play video games now are millennials and kids. Do you think those millennials will stop playing video games when they grow older? No, of course not. Boomers today also still watch movies and TV. Those millennials have kids and those kids are now also playing video games. The kids of those kids will also play video games etc. Basically the total addressable audience for video games will by HUGE by the end of the decade (and the decades after that) because video games will have penetrated all age ranges of the population. Gaming is the fastest growing segment of the whole entertainment business. By a large margin. PlayStation is obviously in a great position here as you can guess from the PS5 hype, but more importantly imho, the growth of PS+ subscribers (currently a bit under 50 million) and PSN users (>100 million MAU) over the past 5 years shows that PlayStation is primed to profit from the audience growth.
  • On top of that you have huge video game growth in the China where Sony & PlayStation is already much better established than Xbox (but still super small compared to mobile games and PC gaming in China). Within the console market, Xbox only competes with PlayStation in North America. In the rest of the world, PlayStation has an enormous lead over Xbox. Xbox is simply a lesser known and lesser desirable brand in the rest of the world
  • Anime streaming (basically they have a monopoly already + vertical integration, it might still be somewhat niche right now, but it will be big within 5 years. Acquiring Crunchyroll was a very good move)
  • Music streaming (no, they don’t have a music streaming service, but as music streaming grows, Sony Music also gets a piece of the growing pie through licensing/royalties, and they also still have a little 2.8% stake in Spotify)
  • Apple, Amazon, Netflix, AT&T and Disney are currently battling it out in the streaming wars. When there’s a war you have little chances of winning, you shouldn’t be the one waging the war. You should be the one selling the ammo. Basically Sony Pictures (tv shows + movies) is in that position. Sony Pictures can negotiate good prices for their content because Apple, Amazon, Netflix, AT&T are thirsty for content and they all want their own exclusive content. Sony Pictures does not need to prop up their own streaming service just like Sony Music doesn’t need their own music streaming service when they can just license out their content and turn a profit. There will always be demand for TV & movies content, so Sony Pictures is well positioned is as an independent content provider. And while Apple, Amazon, Netflix, AT&T and Disney are battling it out on the forefront, Sony is quietly building their anime empire in the background. Genius business move from Sony here, seriously. They now have anime production & distribution.
  • Netflix has 200M subscribers and they currently have a 250M market cap. Think about what Sony will have in 5 years? >30M Crunchyroll subscribers (assuming all anime will be consolidated into Crunhyroll) & >100M PS+ & PSNow subscribers? Anime and gaming is growing faster than movies and TV shows. (9% CAGR for anime, 12% CAGR for gaming vs. 5% CAGR for the whole movies & TV show entertainment segment which includes PVOD, SVOD, box office, TV etc etc). And gaming as a whole is MUCH bigger than SVOD streaming. Netflix gets 99% of their revenue & profit through subscriptions. For the whole Sony Group Corporation, their subscription services (games + anime) it’s currently only 4.5% of their total revenue. And somehow Sony currently has a meagre $128B market cap?
  • PlayStation alone is bigger than Netflix in terms of operating profit. PlayStation has a MUCH higher profit margin than Netflix. For Q3 2020 Netflix posted $790M operating profit and PlayStation posted $988M operating profit. Revenue was was $6.44B for Netflix vs. $4.77B for PlayStation. (and btw Sony’s mobile gaming revenue (~$1B / year) is under Sony Music, it is not even in those PlayStation numbers!!!)
  • Think about it. PlayStation alone posts bigger operating profit than Netflix (yes revenue is bit smaller, but it’s the operating profit that matters most). And gaming is growing faster than movies. And PlayStation is about 24% of Sony’s total revenue. And yet Netflix has a market cap that is equal to the double of Sony's market cap? Basically If you apply Netflix’ valuation to PlayStation then PlayStation alone should have a bigger market cap than Netflix' market cap.

PS+ growth and software digital ratio growth

  • Sony Vision-S & autonomous driving tech (selling sensors + infotainment system to other car manufacturers). Sony surprised everyone when they revealed their Sony Vision-S electric vehicle last year at CES 2020 (in-house design and made in cooperation with Magna Steyr). And it’s currently being tested on public roads. Over the past year we have seen absurdly big investment hype into anything even remotely related to EV’s (including a few questionable companies). We’ve even seen an EV company with a gravity-powered truck get a $30B market cap in June last year. Meanwhile Sony, out of nowhere, revealed what is arguably (subjectively) one of the best looking EV’s. It got very positive reception at CES 2020. An EV that you can actually drive. But somehow their stock is still dirt-cheap based on their current fundamentals alone? Yet some companies that had pretty much nothing but some EV design concepts got insane valuations purely due to hype?
  • LTE chips for IoT & Industry 4.0 (Altair Semiconductors)
  • Cross-media IP (The Last of Us show on HBO, Uncharted movie etc). Huge unrealized potential synergy here (it’s about to change). We have seen that it can turn out super well when you look at The Witcher, Sonic the Hedgehog and Detective Pikachu. When The Witcher released on Netflix, sales of The Witcher 3 significantly increased again. Imagine the same thing, but with Sony IP’s. Sony Pictures is currently working on 7 video game IP based TV shows and 3 movies. We know The Last of Us tv series is currently in production for HBO. And then the Uncharted is currently in post-production and scheduled to be released in July this year currently. If Uncharted turns out to be successful, it will mark a big, new milestone for Sony as an entertainment company imho.
  • Aniplex (Sony Music Entertainment Japan subsidiary for anime production, distribution & mobile games) had a fantastic year in 2020. (more on this later) There is a lot of room for mobile games growth with Aniplex. Thanks to Aniplex, Sony might beat their earnings forecast.
  • Drones. DJI just got put on Entity List in USA and Sony started developing drones for prosumer / professional a few years ago. Big opportunity for Sony here to take a bit from DJI’s dominance. It only makes sense for Sony to enter the drone market targeting the professional & prosumer video market, considering Sony’s established position in the professional audio/video/photography space
  • Currently Sony also has several ventures & investments in AI & robotics
  • Over the past decade, Sony has also carefully expanded into medical equipment tech & biotechnology. Worth noting that Sony also has an important 33% stake in M3 inc (a medical services through-the-internet company with a market cap of $65.5B) (= just their stake in M3 Inc is worth $22B alone, remember Sony, with their large, diversified revenue streams & assets only has a market cap of $128B?)
  • Sony Pictures has a great upcoming movie slate (MCU Spider-Man, Uncharted, Ghostbusters: Afterlife, Venom 2, Morbius, Spider-Verse sequel, Hotel Transylvania 4, Peter Rabbit 2, Vivo, The Nightingale). They will profit from the theatre reopening and covid recovery. They may even become more favourable among movie theatre chains because they won’t release their movies on the same day on streaming services like Warner (and yeah movie theatres are here to stay, at least for a while imho)
  • All the above comes on top of established, mature markets (Financial Holdings & Electronic Products)
  • Oh yeah, btw though TV’s are a cyclical and mature market and are not that important for Sony Group Corporation’s bottomline*, Sony TV’s will continue to do well for the following successive years: o 2020: continued pandemic boost
  1. 2020-2021: PS5 / Xbox Series X/S
  2. 2021 Summer Olympics (tv sales ALWAYS spike during the olympics) (& the effect is more pronounced for high-end TV’s, = good for Sony because Sony’s market share is concentrated in the high-end range (they are market leader in the high-end range)
  3. 2022 FIFA world cup (exact same thing as for the olympics)
  4. You could say it’s already priced in, but the stock is already ridiculously undervalued so idk…
You would think this company somehow has a bad outlook, but that could not be further from the true, let me explain and go over some of the different divisions and explain why they will moon:
Sony Entertainment
While Netflix, Disney, AT&T, Amazon, and Apple are waging the great streaming war, Sony has been quietly building its anime streaming empire over the past years.
  • Sony recently acquired Crunchyroll for $1.175B (it is a great deal for Sony imho and will immediately be more valuable under Sony. Considering the growing appetite for anime I honestly do not even understand why AT&T sold it, they could have integrated it with their other streaming service (HBO Max) but ok)
  • With Crunchyroll Sony now has the following anime empire:
  • Aniplex (anime production & distribution, subsidiary of Sony Music Entertainment Japan) F
  • Funimation
  • Manga Entertainment UK (production, licensing, and distribution, UK)
  • Wakanam (licensing and distribution in Europe)
  • AnimeLab (licensing and distribution in Australia & New Zealand)
  • Crunchyroll (3 million paying subcribers, 90 million registered users and 50 million social media followers)
* Why anime matters:

Anime growth
“The global size is expected to reach USD 36.26 billion by 2025, registering a CAGR of 8.8% over the forecast period, according to a study conducted by Grand View Research, Inc. Growing popularity and sales of Japanese anime content across the globe apart from Japan is driving the growth”
(tl;dr anime 🚀🚀🚀🚀🚀, Sony is all in on anime and they have pretty much no competition)
Anime is the fastest growing subsegment of movies/video entertainment worldwide.
  • Sony also has a partnership with Bilibili for anime distribution in China:
https://www.chinadaily.com.cn/a/201903/26/WS5c990d93a3104842260b2737.html
  • Bilibili already partnered with Sony Music Entertainment Japan to bring Aniplex’s hugely successful Aniplex’s Fate/Grand Order mobile game in China.
  • Sony acquired a 5% stake in Bilibili for $400M in March 2020 (that 5% stake is now already worth $2.33B at Bilibili’s current share price ($BILI) and imho $BILI still has lots of upside potential considering it is the de facto video creation/sharing/viewing à la YouTube/Twitch for GenZ in China)
https://ir.bilibili.com/news-releases/news-release-details/bilibili-announces-equity-investment-sony

Sony Music Entertainment Japan
Aniplex
  • Sony Music (mobile games) generated $400M revenue from its mobile games in Q2 FY2020, published through Aniplex (Sony Music Entertainment Japan, “SMEJ”) subsidiary
  • They are the publisher of Fate/Grand Order, one of the most profitable mobile video games of the past 5 years (has generated $4B in revenue (!!) by the end of 2019 and is still as popular as ever). Fate/Grand order is the 7th most profitable mobile game in revenue worldwide as of 2020 (!)
Fate/Grand Order #9 game by revenue last year as of Q3 2020

  • Aniplex launched Disney: Twisted Wonderland in March this year. In Q3, it was the #10 most downloaded mobile game in Japan. (Aniplex now has two top ten games in Japan)
  • Fate/Grand Order was the #2 most tweeted game in 2020 and #3 was Disney: Twisted Wonderland. You can see that Aniplex has two hugely successful mobile games. (we are talking close to $1B of revenue a year here). It is the #2 game in Japan by total revenue from Q1 2016 to Q3 2020 and the #9 game in worldwide revenue from Q1 2020 to Q3 2020.
Aniplex has two very popular mobile games
  • SMEJ earns about > $1B from mobile games in revenue from mobile games and there is still a lot of future growth potential here considering Japan’s mobile game market grew a whopping 32% yoy from Q3 2019 to Q3 2020.
  • Aniplex recently co-distrubuted the movie Demon Slayer: Mugen Train in Japan in October 2020. It became the highest grossing film of all time in Japan with a total gross box office revenue of $380M. In the middle of a pandemic. It still needs to release in South Korea, China and USA where it will most likely do great as well.
Sony Interactive Entertainment (SIE) (Game & Netwerk Services business unit):

  • We all know 2020 was a huge year for video games with the stay-at-home pandemic boost. The whole video game sector brought in $180B of revenue in 2020, a whopping 20% increase yoy.
  • But 2020 will not be just a one-off temporary exceptional year for video games. The video game market has a CAGR of 13% which means it will be worth $291B in 2027. Video games is by far the segment with the highest growth rate in the whole entertainment industry.

US video game market growth (worldwide growth has a 13% CAGR)

PlayStation revenue and operating profit growth

  • PlayStation obviously has a huge piece of this pie and over the past years has seen consistent yoy revenue and profit growth. Think about it, for every FIFA/Call of Duty/Assassin’s Creed sold on PS4/PS5, Sony gets a 30% cut. There have been sold a billion PS4 games so far.
  • 5 years ago 20 to 30% of PS4 games were purchased digitally. Flashforward to 2020 and it’s 60-75% and the digital ratio looks set to still increase a bit. This means higher profit margin for game publishers and for Sony at the expense of retailers
  • SIE has seen huge success in its first-party games over the past 5 years. Spider-Man, God of War, Horizon: Zero Dawn, The Last of Us Part 2, Uncharted 4, Ghost of Tsushima, Days Gone, Ratchet & Clank have all been huge successes. This is really big and represents a big change compared to the previous generations where Sony never really hit it big as a games publisher even though most of their games were considered quality games.
  • SIE is now not only a powerful platform holdeprovider, but also a very successful games publisher with popular IP’s (Uncharted, God of War, The Last of Us, Horizon, Ghost of Tsushima, Ratchet & Clank). This is an enormous asset, because firstly it increases the chances of success for cross-media opportunities (Sony Pictures can make TV shows and movies out of it to expand the popularity of those IP’s even more). And secondly, it is an obvious selling point for PS5. The more popular and bigger their exclusive content, the more they can draw people to their platform/service. This should increases PS5 total marketshare over its competitor.
  • The hype for God of War: Ragnarok will be absolutely through the roof. Hype for Horizon: Forbidden West is also very good already (10 million yt views, 273K likes which is very good). Gran Turismo 7 and Ratchet & Clank will also do very well in 2021. (I suspect that GoW oand Horizon might be delayed to 2022)
  • PS5 reception has been extremely good. Demand is through the roof as well all know. The only problem is that they cannot quite capitalize on the demand due to lack of supply, but overall, it is a very good thing that demand is very high, and that reception has been very positive. The challenge will primarily supply and production-related for the following 6 months and to be able to maintain brand momentum. Hopefully, they won’t push disappointed/inpatient customers to competitors.
  • Considering there’s backwards compatibility from PS4 to PS5, users will want all their PSN content to transition with them as well, so I expect them to lose very little marketshare to Xbox. Also, I do not know if Americans realize it, but Xbox is not nearly as big as PlayStation in the rest of the world as it is in the USA. PlayStation just has global brand power that Xbox just doesn’t have, so Xbox isn’t much of threat at all I’d say. Where I live, in Belgium, In Europe everyone is talking about the PS5, nobody really seems to care about Xbox Series S/X that much. Comparing PlayStation to Xbox in terms of mindshare is like comparing Apple to Motorola (not meant to be a diss to Motorola, I have a Motorola phone myself, just saying that Xbox has significantly less mindshare / brand power in Europe).
  • SIE is likely working on PSVR 2, this could be big.
  • Sony has a small stake in Epic Games (1.4%) and they have a good business relationship with them, so this might also make them open to release first-party games on Epic Games Store after exclusivity period on PS5.
  • Remember the Travis Scott concert in Fortnite? I believe that was one of the reasons why Sony invested in Epic Games. It serves as an example how music can sometimes converge with video games, and this can play to Sony’s strengths.
  • PlayStation also has way superior presence in Asia compared to Xbox. Have been expanding into China as well. Another great opportunity for revenue growth.
  • PS+ subscribers grew from 5.7 million by the end of 2013 to 46 million by October 30th, 2020. This is an average growth rate of 28% over the past 5 years. Considering most of the growth was early on, it will slow down, but I predict that they will have about 70 million PS+ subscribers by the end of 2023. This is huge and represents a stable, recurring source of income. Investors who keep hyping Netflix/Disney+ will love this, but it seems they have yet to discover $SNE.
  • There is a reason why Amazon, Google, Nvidia have been aggressively investing in video games & games streaming. They know the business is huge and is about to get even bigger. But considering the established, loyal PlayStation userbase, the established global brand of PlayStation and the exclusive games, PlayStation should be able to easily standoff competition from Amazon, Google and Nvidia (GeForce Now) in the next few years. So far, Amazon’s venture into game development, publishing & streaming has completely failed. Stadia and GeForceNow seem to have a bit more success, but still relatively niche. Therefore, I think PlayStation is well-positioned to remain one of the leaders in the industry for the following decade.
I'll get to the other divisions later, I figured this is a good first step.
But so far the tl;dr
Image sensors: 🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀
IoT/Industry 4.0 chipsets: 🚀🚀🚀🚀🚀🚀🚀
PS5/PSN/PS+: 🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀
Online medical services (M3 inc.): 🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀
Anime: 🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀
Fate/Grand Order: 🚀🚀🚀🚀🚀
Demon Slayer: Mugen Train 🚀🚀🚀🚀🚀
Sony Music / music streaming (the performance of Sony Music’s in Sony’s business is seriously understated. The numbers speak for themselves): 🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀
Sony Electronics 🚀
Sony Financial Holdings (very stable & profitable business, even managed to grow slightly during pandemic when most insurance companies performed more poorly): 🚀🚀🚀
Still have to cover Sony Pictures, but their upcoming movie slate looks pretty good honestly (Spider-Man sequel, Venom: Let There Be Darkness, Ghostbusters: Afterlife, Uncharted, Morbius, Hotel Transylvania 4 so that's worth one rocket as well imho 🚀
tl;dr of tl;dr:
🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀

Disclaimer: I am not a financial advisor. I am an idiot that's trying to understand why $SNE stock is so cheap.
Positions: SNE 105C 21st January 22
submitted by Audacimmus to wallstreetbets [link] [comments]

ACAC Spac (PlayStudios): A Solid Risk Reward Longer Term Play (Long)

Hey guys, I have a bit of a long DD on ACAC / Playstudios. You can read the text below. If you want to see the full post with all the nice pictures, you can check it out here. I was too lazy to upload each picture individually to Imgur. Apologies in advance.
I've seen numerous people on Reddit compare the ACAC / Playstudios SPAC to Skillz, and some even to Draftkings. I think this is mainly because they're all in the online gaming / gambling industry, but aside from that, the companies themselves are quite different.
I think a more apt comparison should be between Playstudios and Playtika (Ticker: PLTK), since they operate in the same vertical, compete against one another in mobile slots games, and Playtika has publicly available financial data in which I will be making comparisons against.
Playtika Analysis
You can find Playtika's prospectus here
First and foremost, Playtika is one of the leaders in the mobile casino space. They have an assortment of games, and they themselves are diversifying into more casual games (similar to what Playstudios says they are trying to do), but their bread and butter are casino games, and the ones that make the most money for them are slots.
Slotomania, House of Fun, and Caesars Slots are all mobile slots games, and as you can see from the above, they generate a significant portion of Playtika's revenues (roughly 50% of their 2020 revenues).
OK, so why do I keep bringing up Playtika? Well, they had a very interesting graph that shows how much of their revenues come from different segments of their user base, based on when they acquired those users.
What this chart is saying is that 45% of their revenues came from users acquired from 2013 and earlier!
This is insane! They have such high user retention and user LTVs, that they're still monetizing a portion of their users that they acquired from 7 years ago.
If we go up to 2017, then roughly 75% of their revenues come from users acquired 2017 and earlier!
This is important because Playtika's oldest games are all slots games. So this is telling us that users that play mobile slots games, they tend to stay with those games for extremely long periods of time, and if they do stick with them, they spend a lot of money! This is great news since the vast majority of Playstudio's revenues come from mobile slots games.
If you look at Playtika's financials, you'll notice pretty nice revenue growth. However, a lot of that is non-organic, and was accomplished through M&A. This was because in 2016, Playtika was acquired by a consortium of Chinese game companies for $4.4 billion (including Giant Network, a well known gaming company in China), and they need to make revenue numbers higher to have a better story to sell for the IPO.
And part of their strategy was to diversify into casual games, and they did so by acquiring about 15 companies since 2016, including Wooga (developer of June's Journey, a very profitable find hidden objects mobile game) and Supertreat (developer of Solitaire Grand Harvest, a profitable card game).
However, one of the caveats of casual games is that the ARPPU (average revenue per paying user) is lower, and retention is lower than casino games. I did my own calculations on Playtika's ARPPU for 2018, 2019, and 2020, and you can see the noticeable downtrend. This was obviously not disclosed in the prospectus. Only ARPDAU (average revenue per daily active user) was disclosed.
My belief is that even though ARPPU and retention are lower, maybe the market is giving a higher multiple to casual games. I believe that even though online gambling is beginning to see legalization in many states, and more and more people are starting to be open to it, there is still a bit of a social stigma associated with it, and certain investors may be wary to investing in a pure "casino" play. That's why Playtika is making such a concerted effort to move away from purely casino games, and positioning itself as an mobile entertainment company. Another reason is also the immense competition and high user acquisition costs, but Playtika has shown that they are more than able to execute on a long term strategy here.
Playstudios Analysis
Before jumping into anything else, I want to go straight to Playstudio's financials.
The reason is because I think there's a lot of fluff here, and I want people to know the bullshit. But even when you see through the bullshit, the downside is still mitigated enough to warrant this play.
So first off, take any numbers you see from 2022 with a grain of salt. No one knows what's going to happen this year, let alone two years in the future, and in my eyes, those 2022 numbers look extremely unrealistic. Revenue growth will probably not be that high, unless they make some big acquisitions, and EBITDA margin expansion probably won't be that fast.
Revenue Growth
Playstudios is planning on launching a Bingo and an RPG game, and their plan is to aggressively spend on UA (User Acqusition) in 2021. Their hope is that revenues will scale up with their UA, and by 2022, they can lower their UA spend a bit, and continue to monetize the new games exceptionally well, maybe at an even better rate than 2021.
I think this is a bit farfetched, especially in such a competitive space as Bingo. I've done analysis on Bingo games before, and some of those games have also been around for 8 to 10 years, and they can't expect to just launch a game and have it ramped up to their expected revenue in a year's time. Development for those games requires game designers, people who are very good at math, product designers, and a many other people, which can make the development timeline quite long (at least a few months, for a more finished product, I think at least half a year for these guys). I think a more plausible scenario is that they acquire a smaller Bingo player, and then begin optimizing that game, and add in their own loyalty rewards, as that's the quickest way to ramp up revenues post IPO.
My guess is revenues are not going to ramp up as quickly as they expect, and they'll see limited revenue growth here, and still mainly see some growth from better monetizing their slots players. I think by 2022, somewhere between $350 million to $400 million in revenues is more reasonable, and I'd probably lean towards the lower end of that range.
Margin Expansion
In terms of margin expansion, I think the decrease in cost of sales is doable. It seems like there is some extra fat there that they can trim as they scale. The cost of sales is mainly the tax that Apple and Google charges when users make a purchase through their respective stores, and this is a flat 30%. I doubt they'll get it less than 30% any time soon, but that will probably be through getting their whales to make purchases outside of the Google Play Store or App Store, and using a much cheaper payment processor.
I think a long term goal of 20 - 25% for UA spend is reasonable. I'm OK with these numbers, though they may need to spend more initially to ramp up new games. One of the benefits of their loyalty rewards program is that they can have higher retention, and this might be a way for them to lower their UA spend, since people may be more willing to tell their friends about a free trip or prize they won through a mobile game.
Another reason I'm OK with the UA spend is because it seems like they have a pretty knowledgeable UA team. I have access to App Annie, a data analytics company that tracks mobile apps, and I checked out the download history for POP! Slots, one of Playstudio's mobile games.
You'll notice that US downloads spiked quite a bit in March. This is right when COVID-19 was beginning to spike in the US, and people began working from home. In the mobile app world, many apps had spikes in downloads in March and April 2020 because there was a much larger pool of users looking to download apps. CPAs came down, and companies that had strong UA teams were able to capture a lot of these new users. Thus, this tells me that Playstudios UA team was at least aware of ongoing trends in the mobile app space, and they were able to capitalize by gaining more users during that period of time.
The biggest issue I have is with the "All Other Expenses." I don't know why it's this high (R&D and G&A shouldn't be that high), and Playstudios definitely needs to do some expense cutting here. While this has the most room to cut, it may be the hardest since I'm guessing a lot of that cost is from legacy employees. But if they can get this to around 30% by 2022, I'll be happy.
Playstudios Has No Daily Active Users (DAU) Growth
This is a common issue I see raised on Reddit and I want to address it here. Below is another chart from App Annie, which has DAU estimates.
As you can see, DAU has remained pretty flat for the past 2 years, roughly between 150K and 200K users.
But have you considered that revenues were actually increasing during this time? This means that Playstudios is becoming more efficient at monetizing their current users (getting more money out of older players), or their user acquisition team is targeting more profitable users.
And this is just how the game is played in the mobile apps world.
Users will eventually get sick of a game and stop playing. Not many games can count on users organically finding their game, and continuing to play indefinitely. To maintain a certain DAU, companies generally have to spend money on UA to maintain that user base. It becomes a business where you are calculating how much you are spending on UA, and whether the LTV and retention are good enough that you can make money in the long run from those users. You can think of it as an ROI on your marketing spend.
And this is especially true for mobile game apps. If it were a social app, then yes, something like the network effect can come into play, and UA spend would be much lower. But for Playstudios, maintaining a steady DAU is actually a sign that their UA team knows what they're doing, and they're able to maintain a profitable and highly efficient business. It's actually a positive that they can maintain their DAU, and even INCREASE their revenues during that period.
End Game?
I don't actually know how this will end up. I don't give price targets cause I have no idea how the markets will value this company. But I can provide a few data points so that you can make your own decisions.
From a multiples standpoint, Playstudios is cheap on a revenue multiple basis compared to Playtika, and is about the same from an EBITDA multiple basis.
I personally don't think that Playstudios is a play that's going to 5X. Hell, even 3X I think will be a stretch. But, they do have a loyalty program that will help lower their UA costs, and extend the lifespan of their users. And they are moving into more types of games to diversify their revenue source.
The reason I like this play is because I think the downside is heavily limited. The lifespan of casino slots players are so long, and the revenues are pretty stable (even growing), that there isn't an immediate risk that revenues will all of a sudden drop 30%, as is the case with lots of other mobile game companies. Add on top of this the potential for new revenue growth drivers from Bingo and RPG games, and the potential for margin expansion, that this is an easy 30-50% upside from current prices with almost minimal downside.
One last minor bit, is that I'm sure lots of people missed out on the hype surrounding Draftkings and Skillz, and I'm sure there are some retail investors that will look for any type of casino / mobile gaming / gambling deals, and may jump on this as well. My feeling is that there is also a potential upside from the hype or FOMO factor.
Anyway, this is my analysis on Playstudios / ACAC, hope you guys enjoy.
Disclaimer: I am not a financial advisor. These are my personal views and analysis on Playstudios. Please do your own due diligence.
Disclosure: I own 400 shares of ACAC.
submitted by bananainbeijing to SPACs [link] [comments]

OBLIGATORY FILLER MATERIAL – Just take a hard left at Daeseong-dong…9

Continuing...
“I say that you’re way the fuck out of line, Chuckles. Are you an educated, experienced, fully licensed and internationally renowned master blaster?” I asked.
“No, but…” he tried to continue.
“But nothing, Scooter.” I said, “What, other than your insane xenophobia and nationalism, causes you to come to such unfounded, not to say stupid, conclusions?”
He looked down at the deck. Evidently, he was not used to being challenged in such a manner. He realized he walked face-first into a metaphorical wood chipper.
“I’m waiting for your answer, pally.” I continued.
Still nothing. He was either deep in thought or ill at ease from newly soggy undergarments.
“Want to know why I chose what I did? Fine, meet back here in 15 damn minutes.”
He looks at me with a most perplexed, and ignorant, look on his face.
“Dax, Cliff? I need you.” I say.
We go back to the weapons locker and I explain my idea.
“Let’s load a case of typical, TYPICAL Chinese-made dynamite. Then let’s load a case of American C-4. Be very careful with that leaky Chinese shit. Wait one. I’ll do it if you want and you can handle the C-4.” I say.
“Ah, Rock; yeah. We’d appreciate it. You being the Pro from Dover, after all.” Cliff agrees.
“No worries”, I say, “I got this. You make me up a nice, tightly packed case of C-4. For demonstration purposes.”
I find a near-empty case of dynamite and begin to judiciously fill the thing with random samples of shitty and leaky Chinese manufactured and Korean not-too-well-cared-for dynamite.
This stuff was so incredibly shitty and poorly manufactured that even when leaking and nasty, it was nowhere near as dangerous as its Western counterpart. It was loaded with so much and many interstitials, like sawdust, diatomaceous earth, literal horseshit, and shredded newspaper, the nitro denatured itself to some degree as it oozed out.
Plus, in the non-climate controlled weapons locker; the high humidity, salt air, and poor circulation from the small open grate facing the sea, the nitro had desensitized somewhat and evaporated. It left only sticky, thin, fly-ridden films rather than the usual ‘waiting for a good reason to explode’ puddles.
It was in no way as twitchy as that locker back in Nevada. Oh, but be assured, it was still a shit show.
If I really wanted to, I could blow myself, this boat and all occupants into the next dimension rather easily, but it was nothing like that old locker back in that disused Nevada mine. I still needed to be scrupulously careful as there could potentially be puddles of the pale yellow, viscous liquid explody stuff, instead of the thin films I was mostly finding.
Either way, it required caution and judiciousness.
Nitro’s twitchy as fuck and the last thing I need is a dropped nail, blasting cap, or hunk of the rotten box falling into an errant nitro wet patch…
Extra attention was exercised.
Dax and Cliff are halfway through, and I’m still picking through the leaky, smelly bundles.
“Next time”, I mused to myself, “I‘m writing in a ‘Handling fucked-up explosives”-clause in my contract. No matter how much I’m being paid for this, it ain’t enough…”
We find a couple of expendable, dry-rotted ‘life preserver’ floaty-rings, upon which we secure both cases of explosives. They’re tethered with a rope and primed with a number of blasting caps.
I let the head local Korean crank examine both to ensure that I’m not trying to pull a fast one.
He did not notice the 3-pound bag of Tannerite (an impact-actuated explosive) I snuck in the middle of the box of Chinese TNT.
“Now. Satisfied that they’re equal?” I asked. “Nothing fishy here. Just dynamite in bundles, with caps. Then, over here, C-4 blocks with cap. OK?”
He was satisfied; but only after letting a couple of the shiny suit squad check as well.
“Well”, I smirked,” So much for your ‘covert observation’, asshole.” This guy was DPRK secret service or equivalent.
“Holy cold-pack cheese-food product fuck”, I cogitate, “They are so goddamned suspicious”.
I ask Dax to go over to the pilothouse and borrow the mauled AK-47 I saw hanging on the bulkhead there. They keep it for run-ins with cranky sharks, walruses, and lovesick blue-footed boobies evidently.
“OK, here’s what we’ll do. We’ll float each out, and I‘ll trail with demolition wire. Once we’re a few hundred meters out, you can press the big, shiny, green button and detonate your dynamite. I even used 6 blasting caps, to give each bundle its own. You saw that. We green?” I ask.
He was, although suspicious of what I had in mind. He agreed although he refused to use my terminology, the stodgy prick.
So float away the dynamite case we did.
The case of Chinese dynamite floated out and away from the boat, leaving an oily slick in its wake. As it got to around 200-225 meters or so, I requested a rendition of the Korean version of the Safety Dance, as it was just too fucking hilarious to watch.
Once completed, I handed Doubting Korean Thomas the detonator.
“Your turn, Tweedles”, I said, “Hit the button to spark off your “much-better-than-the-West’s” Oriental dynamite.”
He grabbed the detonator, gnashed a tooth in my direction, and mashed down on the big, shiny, green button with a vengeance.
PFftt! PAH-foof! fuff
There was a cheery little pop, a puff of acrid smoke, and not much else.
Let it be said from the onset that I just selected examples of the Oriental manufactured dynamite at random. I didn’t look for the worst or leakiest. Though truthfully I really didn’t have much too choice in the matter.
“You! You swindled me! You knew the dynamite wouldn’t explode! Somehow you knew it!!” he swore in my general direction.
“Try it again”, I said after retrieving the detonator and doing a quick re-wire to another bank of blasting caps.
Gumeong-e bul!” [“Fire in the hole!”].
MASH goes the big, shiny, green button anew.
Pfffft!” *Pop. Poooof! Piffle. Blerp.
Nothing but a cute little pop, a poof, and a few acrid puffs of smoke.
He was crestfallen.
He had taken on the Motherfucking Pro from Dover in a necessarily explosive subject, with inevitably disastrous results.
I asked if anyone here was weapons trained. A couple of Coasties raised their hands.
“And you are? “ I asked the closest one.
“Lt. P'an Tae-Hyun, Sir”, as he snaps a snappy salute.
“Groovy.”, I reply and retrieve the AK from Dax.
“Can you squeeze off a couple of shots and hit that floating box of dynamite?” I asked.
“Yes, sir!” he replied, smiling.
“OK then”, I replied and turned to the crowd.
“Dynamite is usually pretty stable stuff and won’t detonate without a blasting cap or impulse source. A bullet will most certainly not detonate it. However, I’ve stuck in 3 pounds, imperial, of Tannerite, which is a type of binary explosive used for targeting. Tannerite will most definitely and energetically explode when impacted by a high-velocity bullet. I think we can agree that an AK-47 round is high-velocity?” I asked.
There were nods and a buzz of general agreement.
“Now, there’s the better part of a case of unexploded dynamite out there. That’s what we in the business call very, very fucking dangerous. Now those three pounds of Tannerite should vaporize everything within a 10-meter radius if it detonates as designed. Agreed?” I asked.
Again, there were nods and a buzz of general agreement.
“Lieutenant P'an?” I asked, “At your discretion. Fire at will. Or the dynamite case, as it were.”
He nodded. He walked over to the furthest point on the stern, checked to see everyone was back and out of harm’s way, as he was a consummate professional. He futzed around with the old AK for a bit and took a shot.
It was low and outside.
“Ball one”, I snickered.
“Sights are off. Not any problems.” He remarked.
The next round found its mark. The Tannerite exploded adeptly.
It threw sticks of unexploded Chinese dynamite over a 20-meter radius. They each sank into the briny deep leaving only an oily spot to mark their entry and eventual watery grave.
The top of the case of dynamite was blown off, but the floaty ring remained. We reeled it back in to find a few more scorched, but unexploded, sticks of fine Oriental manufacture explosive on the bottom of the case.
These were motherfuckingly dangerous. Cantankerous dynamite has no place on a ship.
I remarked, however, that this would be no problem. Dax and Cliff brought up the case of C-4, which I had wired with one single blasting cap and booster.
We had Korean Doubting Thomas and his shiny suit buddies give it the once over to ensure I wasn’t trying to pull a fast one.
He agreed, it was nothing but C-4 as advertised.
One of the more expendable Coasties jumped down on the stern transom-rack which is just above the waterline on the back of the boat. He wired the two rings together and set them adrift, tethered by a good nylon rope with my nasty, silky demolition wires trailing.
Dax was working the rope and I was handling the spool of demolition wire. I had a good 350 meters of the stuff on the spool and wasn’t about to return a single centimeter.
Old habits and all.
As they floated away, Mr. Kwan asked if we’d like a bit of refreshment, as, gosh, it sure was dusty out here today.
Of course, we agreed in unison.
Good old Mr. Kwan.
So, we’re unspooling our lines slowly, drinking our end of the day refreshers, smoking cigars, and watching our Oriental colleagues getting antsier every minute.
I knew what a case of C-4 was going to do when detonated. It would be one hell of a show.
I was so confident with my design I had Lt. P’ay return the AK to the pilothouse. Wouldn’t work here anyways if the C-4 failed to detonate.
But that’s not going to happen.
Dr. Pro from Dover Rocknocker has spoken.
Finally, I’m almost out of demolition wire, and Dax has tied off the tether.
I motion over to Herr Doubting Thomas and hand him the detonator.
“For ye of little faith”, I smiled, recalling the entreaty that even Satan quotes the Bible for his own nefarious uses.
But first, an encore of the Korean Safety Dance. They're guaranteed to raise a smile.
I look to the character fumbling with the detonator.
“At your convenience, good sir”, I say, dripping insincerity.
Gumeong-e bul!” [“Fire in the hole!”]. Mash goes the big, shiny, green button.
KA-MOTHERING-FUCKINGLY-HUGE-BOOM!
Even over 300 meters away, every one of us not only saw but felt that shock wave. It was like a solid Savate kick to the chest. The boat even rocked a bit in appreciation.
I smile, retrieved the detonator, safe it, and reply: “And that is the singular reason why I used good old American manufacture C-4 as a sonic seismic source rather than shitty, leaky Oriental dynamite. Any further questions?”
He shook his head in agreement, bowed slightly in my direction, slunk away, and that was the very last we ever saw of Mr. Korean Doubting Thomas.
The Captain saw and felt the detonation. He put the boat in park, actually, he handed it over to the sub-pilot for station keeping and came back to the fantail.
He wanted to know if we were now officially finished with our project.
We maintained that we were and it had come off very, very successfully; in no small degree because of his boat handling abilities.
He came over to me and shanghaied one of the translators.
“Doctor Stone?” he asked.
“Hrmph. Close enough.” I smiled.
“May I be first to congratulate your team. In eight sorties, you and your teams are the first to fulfill mission parameters. I am pleased to say that this will go on all our permanent records. It will mean bonuses for all present. I salute you.” And does with a naval flourish.
“No shit? Well, thanks, Cap”, I reply, “But I’m just the den mother for this special education class. Without them, and all their hard work, it’d never have happened.”
“I knew you would say this”, he smiled, “You are leader of men. We see that. You are teacher, but also not afraid to work. You should do this more often. Use your education and experience to train and teach others.” He says, shaking my hand.
Now it’s time for me to wonder. Did he hear of my offer back home? I don’t think he did, I’ve been playing those cards very close to the vest, as it were. I am now officially confused and bebothered.
But, since I don’t believe in anything, much less coincidence, I’m going to chalk it up to happenstance and just gratefully consider the source.
He asks that we wait here and he’ll return forthwith.
“On a boat this size, there are not too many places we can sneak off to…” I chuckle.
He returns with a very, very old bottle of something quite unidentifiable since it appears to be lacking a label. He yells something in official Korean and suddenly, a tray with little, itty-bitty demitasse-style glasses appear along with some smoked fish, I think, nibbles of some kind.
He pours a dram for all present. No one dares take as much as a preemptory sniff until he’s finished with the ceremony.
Everyone thusly charged, he begins a toast.
“Shoo-buddy”, I think, “I’ve been down this road before.”
It was quick, succinct, brief, and laudatory.
According to him, we had ‘hung the moon’.
I liked this style of toasting. Left more time to drink and for camaraderie.
The project thus finished, as we were running out of potables, especially freshwater, victuals, and toilet paper; we were headed back to base. That is, back to the hotel to see what our comrades who chose to stay onshore had developed.
But, that was going to be for another day. First, we needed to chug our way back to port, both literally and figuratively.
Ahem.
Before which, though, there were some housekeeping and paperwork chores. Dax, Cliff, and I did a quick reconnaissance of the explosives locker and created a ‘used’ manifest; which all three of us signed.
They may be officious, they may be obtrusive, but damn, they certainly love their goddamned paperwork over here.
We gave copies to the head shiny suit, one for the Captain, and we retained copies for our records. Along with notes that we expended two rounds from the pilothouse AK, as we were trying to out-officious these officious paper-pushers.
We made certain the keys were returned and logged in the proper logbooks and the explosives locker was locked securely, solidly, and soundly. Before which, we policed up the weapons locker and actually offered to the gods of the briny deep, quite the quantity of unsafe, leaky dynamite, and other ordinance that was more a disaster waiting to happen rather than inventory.
Seawater would neutralize the nasties and in the case of anything metallic, it’d be gone within a fortnight. and the phosphates might provide some nice fertilizer for some lucky passing Cnidarians. We were in water of near 45 fathoms. This stuff would never hurt another living thing.
The Captain was very pleased that we had taken that task upon ourselves. He wasn’t allowed to do anything about what was in the locker, but he was responsible for it and keeping the wrong people out of it. I commented that was a fairly stupid way of handling things, and he mentioned that he’d appreciate it if I made an official note of it to the powers that be once we go feet-dry, i.e., get back to shore.
I assured him we most certainly would.
From then on, all we had to do was putt-putt our way back to port.
It was going to take some hours and we’d end up berthing during the wee hours. This would not be a problem as our bus and driver would be waiting for us no matter what the time. He would briskly and without fanfare, return us to our hotel.
That we were actually looking forward to bunking back in the old hotel sort of gave one an idea of the Spartan arrangements we had endured for the last three days.
Most of the Westerners groused and complained in a humorous manner. Hell, it was only three bloody days. Some of our Oriental friends were so totally aghast they vowed to lodge formal complaints once they returned to dry land.
Landlubbers.
Odd that once we hit the beach, they all scattered to the four winds and not a single letter nor either a peep of protest was ever forthcoming.
Yes, this is an intensely weird place.
We wandered down the gangplank, cigars a-fume, and drinks recently and for one last time, refreshed by Mr. Kwan. The shiny suit squad was supervising the offloaded of the seismic data we had collected and had seen it soundly sealed and concealed in the very living bowels of the bus. It was to return with us to the hotel, where we’d demand a receipt. Then it would be off to the ‘Technological Center” on Scientific Street for processing.
They assured us that they’d handle that themselves. Evidently we were good enough to acquire the data, but not good enough to see the finished product.
Ack, Volna, and Ivan chuckled.
“OK, you pirates. What did you do?” I asked
“They can try with all their might. But without the decryption key, they’ll spend years processing encoded compressed nonsense.” They snickered. “We did offer to come and help set up the decryption for the decompression of the raw data, but they said they could handle it themselves. Oh, well. We tried. Seriously, we did.” Ack and Volna snickered.
“Well, keep it handy in case they come to their senses before we get out of here,” I said.
“Always our intention, Herr Denmother”, Volna chuckles.
“Oh, you heard that?” I snickered quietly.
Back at the hotel, the majority of us sent our sea-gear to our rooms via the on-site laundry. That being settled, the majority of us retired to the catacombs of the basement.
We needed strong drink, decent, non-tinned food, and seats that didn’t slop around every time you sat down.
Well, with the acquisition of our sea legs, two out of three wasn’t bad.
Since the hour was much too late, I decide that tomorrow, well, later today, would be a day of R&R for everyone.
Moreover, I was informed that tomorrow would be the “Day of the Sun” celebration, the insanely earnest celebration birth anniversary of Kim Il-sung, founder and Eternal President of North Korea. It’s supposed to be some sort of big, hairy nationwide deal. But aside from a couple of small posters, we heard little and knew less about the holiday and its celebration.
Everyone’s being even more uncharacteristically low key. It’s odd like there’s something weird going on here.
“What? Something weird and covert and sneaky going on in Best Korea? Pshaw, you old fart. You’re letting the paranoids get to you!”, I mused to myself.
This place will do that to you after a while.
I asked the front desk to place a note that made the rest of today a day of R&R in everyone’s mailbox. After another cigar, some decent prawn stir-fry, and a couple-twelve really stiff drinks, we were all ready to invade the land of Nod for a few hours.
I went downstairs for a drink, a nosh, and a smoke. I ran out of NK won as we tend to use them in Western Expat high-stakes poker games, so I needed to trade some of my weird Middle Eastern currency for weird Best Korea currency.
I was used to the 900:1 won:US dollar (equivalent) trade-off, but after cashing in the equivalent of US$500 in Middle Eastern dinero, I walked off with 650,000 won, not 450,000.
“Pardon me, Ms. Cashier”, I said to the nice little local woman behind the bird-cage security wires, “I do think you gave me too much.”
She took my stack, re-counted it, and proclaimed it correct.
“I thought the exchange rate was 900 to the dollar?” I asked.
“No”, she remarked, “Now 1,336.”
“Any idea what’s causing the fluctuations?” I asked.
She just smiled and shook her head ‘no’. I smiled back and tipped her 50 UAE dirhams for the information.
“Weird. Now what?” I mused.
Little did I know…
The next morning dawned dim and early as there some sort of something going on outside.
Oh, yes, it was ‘The Day of the Sun’ celebration. I discovered it was is an annual public holiday in North Korea celebrating the birth anniversary of Kim Il-sung, founder, and Eternal President and local Poobah-in-Charge of North Korea. It is the most important national holiday in the country, and is considered to be the North Korean pseudo-secular equivalent of Christmas.
“Well,” I thought to myself, “I picked a damn good day to call for an R&R break.”
Then I found out, why no one told us about any of this is still unknown, that the next two days after the holiday would also be considered a holiday.
Come to find out, there are all sorts of intrusive, inconvenient, and wholly unnecessary nonsense that accompany these high holy days here in Best Korea. There are exhibitions, fireworks, song and dance events, athletics competitions, idea seminars: “Think about it!”, and visits to places connected with Kim Il-sung's life, including his birthplace in Mangyongdae.
Shops close, the hotel televisions block any other ‘programming’ and show only ‘special’ movies. Either ridiculously fake documentaries on the life of the also ever so ronrey Kim Il-sung or movies he especially enjoyed. People parade to his statue on Mansu Hill to deposit flowers; later in the day, it resembled a pollinated glacier.
There’s general obviously forced elation, all of which is extraordinarily strained and appears fake. People are trucked by the groaning busload to the Kumsusan Palace of the Sun where the dead maniac lies in state.
“Fuck this”, I said in the exact spirit of international amity, “I’m going to the bar.”
I go downstairs to the basement bar, and even though it’s a high holy day, it’s open early. It didn’t used to be open until the afternoon, but since we’ve arrived, they have adjusted their hours for us.
They have also doubled their daily receipts. So they’ve got that going for them, which is nice.
One of my favorite barkeeps was station keeping that morning. I greeted him in the usual style and expressed to Mr. Ho Gun the best holiday wishes.
“Hi! Ho!”, I said, “Annyeonghaseyo”, which comes out ‘Annie young eez-yo!’ in my Baja Canuckian dialect.
Mr. Ho laughs at my attempt at Korean, but he does appreciate the effort.
“Doctor Rock”, he says, “Dawn greetings. You will drink what?”
Nice and direct, I like that.
“Ye’ ken Greenland Coffee, me ol’ mucker?” I asked in a swirl of different dizzying dialects.
Koran confounds me, so I thought I’d return the favor.
“No, but I’m sure it’s coffee with some of your usual high-proof liquors, correct?” he smiles as I hand him a nice, oily Oscuro cigar.
“For Best Most Happy Returns: Day of the Sun”, I said, waggling the stogie, as I hand it over.
“However, you are correct. Normally, ‘authentic’ Greenland Coffee is a paltry 1/3rd ounce each of Whiskey, Kahlua, and Grand Marnier with excess coffee. Well, I don’t cotton to those liquors or measures. So my Greenland Coffee recipe, really from Greenland, by the way, is Siku Vodka, or any other high-octane vodka, as long as it’s premium. Then Immiak, which is Greenland’s version of Jagermeister, so let’s just go with Jager. Then finish it off with a shot of Tia Maria or Kahlua, if available. Oh, yes, then hot coffee. Silly me, almost forgot…” I conclude.
“And measures?” Mr. Ho asked.
“Whatever fills the cup”, I replied, in a bastardization of an old Russian toast.
“OK, how about a 35 mils (~1 ounce) stiff shot each booze, then hot coffee to fill your mug? With a chilled vodka chaser, as per usual?” He asks.
“Make it so, Mr. Ho,” I say. “No whipped cream or crème liqueurs, please. I’m lactose intolerant, and, well, no one wants to hear that…”
He laughs and whips together a very nice morning sunriser.
It’s a real day off.
In a very, very weird land.
It’s Festival outside and I stayed up most of the night calling people back in the world, creating and updating dossiers, doing explosives-tracking paperwork, worrying over logistics, and how and when the fuck we’re going to eventually get out of here.
Fuck it, double front. I’m doing my ‘people watch’, perched high on Mahogany Ridge. I’m taking, for the first time since, hell, I left the Middle East, some real downtime.
I figured I deserved it.
I was the only one at the bar, but after a short time, there were festival-goers who infiltrated down into the hotel's subterranean catacombs. They didn’t know of the bar’s recently expanded hours and when they saw me sitting high up on Mahogany Ridge, smoking my ubiquitous cigar, they rejoiced.
Obligatory Festival and alcohol! Better than beer and power tools.
In the Baja Canada time-honored tradition, I have a pile of the local currency sitting on the bar. At the new exchange rate of 1,386 won to the dollar, I’m making out like a bandit.
Drinks here are cheap, really cheap, to begin with. With this fluctuation in exchange rates, which I figured reflected the holiday, I was flush. In the chips. Well-heeled. I've got a lot of what it takes to get along.
So, I was feeling magnanimous. I was tipping people very well.
“Paper?” one local asked.
“Sure. How much for a week-old English version of the Daily Worker’s Manifest and Pork Belly Futures Digest? 100 won? Here’s 1,000. Keep the change.”
Not wanting to become over-caffeinated, I switched from Greenland Coffees after a couple to my usual potato juice and citrus concoction. Each one came in a tall, frosted gimlet glass, a very nice touch, and was expertly made my Mr. Ho after I showed him once when we first arrived.
Each one, with the current exchange rate, was about 500 won; an exorbitant sum for any local. It was about US$0.40 for me. I bought several for people who bellied up to the bar and tried to engage me in conversation.
I was used to handing out business cards, hell, one never knew where contacts could lead; and not receiving one in return.
Today, I collected four new business cards; two from various European ex-pats, and two from locals.
I guess Festival! time brings out the best and least paranoid in people.
It’s only 1000 hours in the AM and people here are already seriously lubricated.
This will be a fun few days.
I decided to get a rather tall drink in one of my 100-ounce Kum-n-Go travel cups. With all the hoo-ha going on around here, I haven’t seen a handler, translator, or guide since we got off the boat. I decide with all the shenanigans and goings-on around the place on this festival day, no one would give me nor my wardrobe a second look if I were to venture outdoors for a walkabout.
Besides, we’re on a bloody island. It’s not like I can go too damned far.
So, quicker than a bunny fucks, I get my drink, fire up a cigar, and walk around the lobby of the hotel. There are the usual comings and goings of tourists, local workers, the security forces, and all that allied tat.
I wait until a tour bus pulls up and all eyes are somewhere besides me.
Pfft! And I’m standing outside the hotel, looking at all the sights.
Which, truth be told, weren’t much.
Yanggak Island is a slovenly-manicured island with shrubberies, tracks, trails, and assorted support buildings. The river is basically hidden behind stunted shrubs and nevergreens, and the remains of the defunct golf course. There’s a stadium on the island, which was thronging with festival-goers today. I don’t know what sport, if any, they play there, and didn’t care enough to ask anyone.
There was a cinema hall, which was currently empty and looking in need of some dire repair. There’s some sort of Chinese health complex in the process of being built or torn down, it was hard to tell which. Needless to say, the scenery paled almost immediately.
I did, after a concerted effort, find a small platform that overlooked the Taedong River. It was a very nice little observation platform with a couple of new-Tudor-esque electrical replica gas lights and two concrete benches where a weary traveler could sit and just watch the river.
So I did.
I was interested in the fish of the river, and wondered if any of the locals did any fishing; or if it was forbidden, as are so many ‘proletariat’ activities are in town.
I did see a few locals, huddled out of plain sight, down by the shores of the river fishing with long, 10 meter, reel-less poles. In Britain, they would call this type of fishing ‘noodling’.
I didn’t see them catch anything, but in the bar later, I spoke with a local who told me that they catch various species of fish here. These include Asian Aroana, Blue Guppy, Catfish, Crab, Eel, Halibut, Hucho Perryi, Octopus, Orange Guppy, Pacific Flying Squid, Rainbow Trout, Salmon, and Tuna.
I’m not saying my informant was lying or embroidering the tale, but from the nasty condition of the river, I think Coney Island Whitefish, Cotton River Horse, Dumpster Trout, and Bugle-Mouthed Salmon would be the more common species.
I had enough perambulation and even though I wasn’t given the least look, I felt a bit uncomfortable out here. That unfiltered sun and equally unfiltered air. After that, I wandered back to the hotel and went to enter to go to my room.
“HALT! Who goes there?” some door guard yelled at me.
“An American tourista who was out on a walk”, I replied.
“Impossible!”, he replied, “Tourists are not allowed out without their guides.”
“Look, Herr Mac”, I said, “I’m Dr. Rocknocker, and I am an invited Western Petroleum Scientist with the UN special-invited group here to evaluate the country’s oil and gas potential.”
“You are not allowed.” He replied loudly.
“My good man”, I replied, equally loudly, "Not allowed? Not allowed? I’m a geologist, I’m allowed everywhere.”
With that, I grab the handle of the ornate door, take a slurp out of my drink, and sally forth into the hotel.
Of course, he goes non-linear. He follows me and is making all sorts of bad noise. He is almost literally dancing around me, pointing, and exclaiming that I’m not allowed.
Then, he made a bit of a mistake.
He grabbed my arm.
Really, really poor career move.
I switched my drink to my left hand and executed a pretty spiffy opposite-side wrist grab on the noisy little nerf herder.
He was so shocked by this turn of events, he went slightly white and was rendered mute for a short time.
I frog marched the little irritant up to the front desk and asked the head clerk there to explain to my captive audience who I was and why I was here.
The clerk smiled and gave the character whom I was dragging around a quick background on the guy who was currently holding him captive. When I heard “닥터 락 노커” [dagteo lag nokeo, “Dr. Rocknocker”], I dropped this guy’s hand and just took a few steps back.
After a minute or two, he comes over, very, very abashed. He apologizes as he wasn’t told that any Americans were allowed outside the hotel.
I told him ‘No problem’, as I really didn’t have any special permission and didn’t want to get the guy into any trouble. I offered him a cigar, which he refused, but he readily accepted the half-pack of Sobranie pastel cigarettes I had in the pocket of my Hawaiian shirt.
I decided from that point to just stay inside the hotel to smoke, drink, and avoid any further Imperial entanglements.
I wandered on down to the casino because I was bored and it was unusually quiet. Too hepped-up to sleep, too tired to work, it was that odd interarea between “should I be giving a fuck” and “who the fuck cares?”
Leaving the basement, I wandered around the ground floor, just taking in the sights, and looking at the “Festival Specials” at the hotel shops.
I found an empty, unlocked conference room that looked inviting. About two dozen chairs, a large wooden table, TV monitors, and a southern view of the city from slightly above ground level.
I walked in like I owned the place, as it is always monumentally easier to get forgiveness than permission, sat down at the head of the table, propped my feet up, found an ashtray, and began playing with the remote to see what was available.
Evidently, these rooms were available for rent by various factions, cadres, and other sorts of like-minded individuals. However, whoever was here last forgot to re-set the filters on the satellite television.
There was real the BBC, real-time. There was German TV, Russian TV, Japanese TV, and even some American TV; all the best of the absolutely prohibited hit parade.
I shut it down and left immediately. I went to find my comrades. They simply had to see this.
I located Dax first, as he was losing won at a rapid rate down at the basement casino. He said he’d spread the word to any of the team members down in the tunnels and we’d meet at Conference Room #1.
I had taken the precaution before leaving to move the “Occupied/Unoccupied” placard to indicate it was in use and that if you hadn’t reserved the room, you’d do best to stay the fuck out.
I waited the obligatory 20 minutes for the elevator and went up to ‘our’ floor.
I knocked on all the doors where I knew they were occupied by our occupants. I found a few of our team and informed them that if they were so inclined, there would be an unannounced, impromptu, and wholly illicit meeting down in Conference room number 1; complete with refreshments and real, uncensored television. They all agreed and said they’d rouse the rest of our team on the floor.
I was feeling so brazen, that when I went down to the ground floor, I stopped at the front desk and ordered lunch and drinks for my team in Conference Room #1.
“Oh, sir”, the desk clerk responded, “We don’t have any reservations today for Conference Room #1.”
“Well”, I replied, “We are in there and if it wasn’t reserved, how would that have happened? The room would have been marked as unavailable, which it clearly was not; as it was open and available and we are now occupying it. Therefore, it wasn’t marked unavailable so it must have been available; not unavailable as you postulate. It’s almost a simple example of the single equation theory of universal containment. So we are meeting there now and requiring refreshments. It’s simply a logical progression of the facts of the matter.”
“You are, of course, correct”, she immediately responded, distracted by all the Festival goings-on in the hotel, “Now, you said you’d like to order 4 dozen assorted meat and cheese sandwiches, two cases of beer, and a mixed case of bottled liquor?”
“Yes”, I replied, “You see, it’s only going to be a brief meeting. I’ll also need ice, carbonated and non-carbonated mixers, sliced citrus fruit, and an on-call bartender if you have one available.”
“Oh, yes sir,”, she replied, “That will be immediately arranged. Anything else?”
“Yes”, I replied, “I’ll need about a dozen ashtrays, of the larger variety. Also, I am going to leave explicit instructions with you to disseminate to hotel staff that we are not to be disturbed. This is a very high-level meeting of the scientists of the IUPG. We will be discussing, umm, ‘sensitive information’”.
I used the international ‘don’t-even-think-of-bothering-us’ buzzword to let her know were being very serious indeed.
“Oh, yes sir”, she stiffened.
“Marvelous”, I said and slipped her 1000 won for her troubles. All sighs of nervousness instantly disappeared.
“Excellent. Excellent service.”, I said, rubbing both hands together most Mr. Burnsly.
I go over to the conference room and see that our order has begun to already arrive. Have to hand it to them, you call for room service and you get room service. Especially if you’re well known around the hotel to be free with imported cigars, pastel cigarettes, and lavish tips.
One by one, my teammates filtered in. There was everyone from out earlier pleasure cruise, and most of the force that remained back in the hotel to prepare the paperwork for our ground assault.
Cigars, cigarettes, and pipes were lit. Sandwiches consumed and drinks were downed. After everyone had a chance to see their home-town, or at least home-county, version of the news, I decided that it would indeed be a good time to have a bit of a meeting. It was going nuts outside with the Festival, and as long as we were in here, we were being left alone.
After the obligatory facilities break, I returned from a 40-minute round trip to my room to get a couple of my field notebooks. I wanted a record of the proceedings, no matter how spur-of-the-moment.
When I returned, I thought the room looked a bit spare. I did a quick headcount and I noted we were missing someone. I glanced through my notes and saw that our Bulgarian geomechanic, Dr. Iskren Dragomirov Dinev, or ‘Iskren’ was not present.
“Hey, guys”, I asked aloud, “Anyone seen Iskren lately?”
There was a brief conclave and the answer was a solid negative.
I called the front desk and got his room number. I asked them to ring his room for me. His room phone rang and rang and rang, but no answer.
“Who last saw Iskren?” I asked the assembled crew.
The Finnish PT, Joon, recalls drinking with him at the casino the night before last. He seemed normally jovial as was normal for him.
“Anyone else? Or since?” I asked.
Again, the answer was negative.
“Something’s not right”, I thought, my rock sense was tingling. “Dax, Cliff, you’re with me.”
We all left, stopped by the front desk, and asked for medical assistance. We explained where we were going and the sudden absence of our Bulgarian friend. We expressed deep concern.
25 minutes later, Dax, Cliff, me, the hotel security chief, and hotel doctor were standing outside Iskren’s room. We had pounded on the door for a good 3 minutes. He certainly wasn’t in the shower.
No answer.
“Fuck this. Open it”, I said.
“Under whose authority?” the chief of hotel security asked.
“Mine. Dr. Rocknocker. I’m the team leader of the IUPG crew. Do it.” I said.
The door was laboriously opened, as both door bolt locks had to be breached. The room was dark, silent, and entirely unnerving. In the gloom, it appeared that there was a human form, unmoving, on the bed.
“I’m a rock Doctor. I think we need a medical doctor here.” I said to the hotel sawbones.
The hotel doctor went in without switching on the lights nor touching anything. He examined the mound on the bed. Apparently, it wasn’t a pile of dirty laundry.
“Was the occupant of this room a large Caucasian male, approximately 60-65 years of age?” He asked.
“Yes”, we all answered together.
“I’m afraid he’s dead.” The doctor replied.
Dax looked at Cliff who looked at me. In unison, all that was heard was a tripartite:
“Oh…fuck.”
To be continued...
submitted by Rocknocker to Rocknocker [link] [comments]

Welcome to the B.L.o.K. (Big List of Kelowna)

Tons of posts are asking about this town (mine included), so I decided to go through the /kelowna history and put all the responses in a central place. It can be a guide for visitors and Kelowna newbies in general. All the information has been gathered exclusively from posts here. If you'd like to add anything to the list, or see any errors, reply below and I'll add it to the main post below. (Mods, if this is long-term useful, you can sticky it.)

Activities & Things To Do

Indoor

Outdoor

Barber

Bike Rental

Breweries / Craft Beer

Camping

BC Parks Campgrounds Reserve

Other Camping

Concert Hosts / Weeklies / Promoter Events

Dispensaries

Dog Parks

Festivals & Annual Large Events

Fly Fishing

Food and Restaurants

Asian

Chinese

Dog-friendly

Good for Groups

Indian

Ramen

Thai

Brunch

French

Hamburgers

Italian

Mexican / Comida Latina

Pies

Pizza

Subs / Sandwhiches

Sushi

Tasting Menus

Steakhouse

Vegan & Vegetarian

Not Dedicated Vegan, but a Decent Vegan Selection

Wineries

Wings

Gaming

Gyms

Hiking

Ice Skating

Internet Service Providers

Live Music

Mountain Biking

Nightlife / Clubs

Places to Avoid

Real Estate Agents

Salons

Hair

Nails

Skiing & Snowboarding

Local, within 90 minutes

Within a few hours drive

Helicopter

Cross Country & Nordic

Strippers

Swimming Pools

Taxis / Driver Service

(There's no Uber or Lyft in Kelowna)

Tailor

Tattoos

Theatre

Thrift Stores / Consignment Stores

Veterinarians

Watch Hockey

Wineries

Yoga

submitted by Indy_Pendant to kelowna [link] [comments]

Madison Square Garden - A Comprehensive History

Since there was a lot of positive response to my comment on the KD thread about The Garden, I floated the idea of a thread, and you all asked for it, so here it is! Here at reddit, there can be a lot of LOL this (Knicks) and LOL that (Knicks again), and while MSG certainly has its own shortcomings to say the least, there is a true story to be told about the buildings and how it came to be where it is today.
Known as ‘The Worlds Most Famous Arena’, MSG played a direct roll in making sports in America what it is today, and while many people criticize the current incarnation of the building, most people don’t know the full story - or that the current one is actually the 4th version (and 3rd location) of the building. The college basketball history at MSG, which I won’t give away yet, is one of if not THE main reason we have our beloved NBA and professional basketball in general today. This is going to be a very long read, like, very very long. But I’m going to try and throw all the really juicy facts in there that I picked up along my years of research from working in the tour department. I thought of splitting it up, but I wanted this post to be a comprehensive history of The World’s Most Famous Arena!
If you’re only concerned with the history of the joint once basketball enters into the picture, skip to MSG III.
If you want the juicy details on the controversy of tearing down old Penn Station then skip to MSG IIII.
If you have any questions on anything or want me to elaborate on anything that I only mention briefly, please feel free to ask! MSG’s history is full of not only amazing moments, but vengeful murders, and a whole lot of sketchy stuff. This is the story of how a small train station on the north east corner of Madison Square Park eventually led to the demolition of an iconic NYC train station some 100 years later. It’s not on Madison Avenue, it’s not square, and it’s not a garden, but there is a good reason for all of this - or at least a good explanation - I promise!
MADISON SQUARE GARDEN I
Ironically, just how this story’s climax involves tearing an iconic train station down to build the current arena, the beginning starts in much the same way. Just with a significantly less iconic train station. In the mid 1800’s there was a small railroad depot on the north east corner of Madison Square Park, occupied by New York and Harlem Railroad on East 26th street and Madison Ave and owned by Commodore Cornelius Vanderbilt. For those of you not familiar with the city (yes, we call it ‘the city’) that location is pretty central and throughout time has had a lot of important events happen there, which is a thread for another time. The park was named for president James Madison, just like the street, which was very common at the time. People loved that guy.
The railroad opened up another location you may have heard of, by the name of ‘Grand Central Station’ in 1871, therefor leaving the smaller rail depot on 26th street abandoned. After a few vacant years, the building was leased to PT Barnum, who converted it into what he called the ‘Great Roman Hippodrome’. This place was a big open air oval ‘arena’ where he did exactly what you’d expect. Circuses etc. What happens next is where things start getting interesting.
Then the building was leased to a band leader named Patrick Gilmore. Some historians in that field feel like Gilmore is a forgotten guy compared to the likes of John Phillips Sousa, who is really the only person we common modern folk recognize in terms of old timey band leaders. But Gilmore was a very important figure of his day. Gilmore purchased the building and…wait for it…called it Gilmore’s Concert GARDEN. ‘Garden’ was a semi-popular add on to entertainment centers in NY during that era, starting with what I can tell from my research when Castle Clinton (aka, the old fort turned venue turned place you buy your tickets to go out to the Statue of Liberty now) was converted into a venue called Castle garden in the 1820s.
The other notable contributions Gilmore made to The Garden are holding the first Westminster Kennel Club dog show, the longest running garden event obviously still held there today, and even doing the first boxing matches there. I always found this bit fascinating, because boxing matches were technically illegal at the time. He called them ‘illustrated lectures’ and as any good New Yorker trying to make a buck does, found a way around the rules and got away with it. This is a common theme within the history of The Garden as you will see.
The arena changed hands a few more times, first to an administrator with the dog show, who also started to do more sporty things like tennis and installing one of the first ‘indoor’ ice rinks in the US.
The building went back into Vanderbilt control when Commodore died, by his grandson William Vanderbilt. He was the one who decided, the ‘garden’ part was cool, but since it wasn’t leased by Gilmore anymore, he would rename it after the park which it shared a border. Hence the name, Madison Square Garden. He expanded the range of events that were held there including adding bicycle racing. This would be by far the most widely beloved event held at the Garden, including a long running race called ‘Six Days of New York’ where an insane SIX day bike race would be held. These were basically just endurance contests, with a single bicyclist doing as many laps as possible, they could sleep whenever and join back in whenever. This was all the rage, but also dangerous for not only the participants but the spectators. People who wanted to soak up all the action were easy targets for crooks who were also in attendance. These events were so popular nationwide however, that there is even a bicycle discipline called ‘Madison’ named after the OG garden.
The building however ran its course, because of its lack of roof and decaying infrastructure.
What I mean by decaying can probably best be summed up by the disaster which many people now a days don’t know of, when part of the building collapsed falling outward into the street and some of the roof also caving in with 800 people inside. Apparently it was chaos, and 20 something people were killed or injured. It’s pretty brutal, and if you want to know more about that incident you can read the newspaper article from the time here.
Vanderbilt sold the spot to who's who collection of rich white men. JP Morgan, Carnegie, Astor etc. So they decided to tear it down and build a new extremely extravagant arena on the same spot. They got renowned architect Stanford White (more on him later) and they demolished the building in 1889. After spending more than half a million dollars, MSG II was built.
Madison Square Garden II
By this point, MSG was still not the household name it would become in the future. This building was supposed to change that narrative, which is why these rich guys went all in on it. You’ll see, that they were maybe in over their heads. However, this might be the most fascinating of all the MSGs for several reasons.
Firstly, the building was extremely extravagant. That can not be overstated. I would encourage you all to just google pictures of the building, it was massive and you’ll see all the features I’m describing here. It featured a huge 32 story tall bell tower, which was good for the 2nd tallest building in the city at the time. The bellower was topped by a sculpture of the goddess Diana the huntress, which was sculpted by famous artist Augustus Saint-Gaudens, and was gilt in copper. They moved the statue not soon after, and you can see it today at the Philly Museum of art! It spun around in the wind, and their original brilliant idea was to have an actual cloth scarf draped on it, but since wind exists, it got blown away not too long after its installation.
Its main hall was the largest in the world. It had not only the main hall which sat 8,000 but just like today’s garden, had a small theater which sat 1200, and even another concert hall which sat 1500. Of course they also had the largest restaurant in the city, because why not. And because it is ‘The Garden’ they decided there should be a roof garden cabaret. They thought this would be a landmark the likes of central park, and it was certainly grandiose enough. They had the same kind of events that the first garden did, including sports, concerts, and all the random stuff they found fun before the invention of TV (not to mention radio, or at least the widespread broadcast of radio). But the problem was, the building was so damn extra, that they had a hard time making enough money to upkeep the place.
Now let’s talk about the architect. Stanford White is probably best remembered for designing the Triumphal arch in Washington square, but then closely followed by being murdered in his own building, MSG II, in a lovers quarrel. This was huge news at the time, and so was the trial that ensued, they called it ‘The Trial of The Century’. The building, being as ridiculous as it was, of course housed an apartment for White, and millionaire Harry Kendall Thaw was not too happy with White who apparently had an affair with his actress wife when she was 16. So he came through, and shot him dead in his own building. It’s all incredibly sketchy and simultaneously intriguing, involving major names of the day, which is probably why the trial was so juicy and gripping in the eyes of the general public.
Anyways, the building was ultimately a failure, and didn’t last very long in retrospect. Everyone knew what Madison Square Garden was, and it was a landmark from 1890-1926, but the building failed to live up to expectations, much less make money. A 36 year run is really nothing to write home about, especially with the illusions (or better yet delusions) of grandeur its rich owners had in mind. There were some important sporting events that happened there, but what would happen in the next building would be the reason The Garden is now known as, The Worlds most Famous Arena. Interestingly the building there today, the New York Life Insurance Company, was built on that plot directly after MSG II was demolished. They owned the mortgage on the building, so they just built their headquarters there. It’s an iconic building in its own right, and if you’re on the NE corner of the park, there’s a plaque on the building which notes that it was the location of the first 2 Gardens.
The only thing MSG still had was, well, the name. And in walked Tex Rickard, to seize an opportunity that proved to be golden.
Madison Square Garden III
If you’ve never heard of Tex Rickard, think PT Barnum, Don King, etc. He was the leading boxing (and more) promoter of the day, and was a very successful businessman, operating saloons, hotels, casinos, and the like. He was a country boy, born in Missouri and raised in Texas, but had a knack for business and promotion. Tex saw the opportunity to buy the name, and incorporated the ‘New Madison Square Garden Corporation’ in 1923. It was smart, although MSG II didn't make money, it was still a household name in NYC. The purpose was to build a less extravagant arena, but a place that would be iconic in its own right and host major sporting events, including NHL games. This is where MSG started to make a name for itself as a major player in venues, and eventually THE most famous arena in the world. So Tex bought a big block of land quite a bit of a ways away from the original site of The Garden, on 8th avenue between 49th and 50th street. He basically built a big box, designed by theater architect Thomas Lamb, at the cost of almost 5 million dollars and in a remarkable 249 days. I think it’s sufficient to say that ol’ Tex knew how to get things done. He had a bunch of rich backers, plenty of clout, and he threw his arena up in sharp contrast to the old garden. It did however have a very iconic marquee, and if you talk to anyone who was around at the time they will note that the marquee was the distinguishing feature of the building. The main draw originally was boxing, as that was Tex’s bag. They had major fights, and drew much larger crowds than the older gardens, mostly because they could cram almost 20,000 people in there. The site lines were apparently terrible, but by all accounts the energy that still haunts the current garden, was the main draw.
Then, hockey happened. This was the idea from the start, as fellow sports promoter Thomas Duggan had options on three expansion teams for the NHL, to be established in the US. One became the Bruins, and then one was arranged to be given to NYC’s most-celebrated prohibition bootlegger Bill Dwyer, who arranged with Tex to have the team play at MSG III. Tex had an agreement with the first team they started, The New York Americans, aka The Amerks (ever heard of them?), that they would be the only hockey team to ever play at The Garden. Although there was a clause in the contract that Tex claimed he would never exercise, that claimed if Tex and MSG ever made a bid for a team, the Amerks would support it. Tex kept his word for approximately one year, when due to the American’s success, he went out and got himself a hockey team. The tabloids dubbed this team Tex’s Rangers, an obvious play on words, and you can guess what that team that became today. The Rangers soon eclipsed the Amerks in success, and The Garden’s lore began to grow as the place to be in NYC.
One more note on Tex, and maybe the most important in my biased Knicks ‘no other arena is THE GARDEN’ mind. he started 7 other Madison Square Garden’s around the country. Including ‘Boston Madison Square Garden’ which as you may guess, became known as Boston Garden. Thats right Celtics fans, your building was named after ours. Thanks Tex, for unknowingly providing another iconic building, that the future inhabitants of your NYC building would lose in over and over again! Anyways…now is where basketball becomes the star - so you can all start paying attention!
At the time, nobody thought professional basketball was a viable way of making money. Rickard passed away in 1929, and during the great depression things stayed somewhat status quo, but also there were now a lot of days where the giant arena wasn’t being used at all. Then, in walked Ned Irish, a successful sports journalist who quit his job covering basketball games for the World-Telegram, to start promoting basketball games at MSG III. The Garden let him promote and hold games there, as long as he would just cover the rent, that’s how bad things were economically. To everyone’s pleasant surprise, the college games became a lot more financially successful than anyone had anticipated. Along with making money, these college games were probably the number one factor in growing the game nationwide in general. College ball became the marquee (pun intended) event at MSG III, especially the double headers. This was a time, before the infamous point shaving scandals, that NYC college basketball was a force in the college game. It’s hard to believe now, but teams like NYU and CCNY were the equivalent of today’s Duke and UNC. By 1946, they were selling out the arena, and the city (and country) had fallen in love with the game of basketball. The NIT was started during this time, and even the first televised basketball game happened there in the form of a Fordham-Pitt / Georgetown-NYU doubleheader. The previously mentioned point shaving scandal involving the NYC schools hamstrung Irish’s ability to put on marquee matchups at MSG III, as a lot of the major teams were banned from playing there, and the NCAA reduced its use of the arena as a result.
Ned, being the promoter genius that he was, saw the success of the college game, knew his limitations with that now, and thought…Why can’t we do this with professional athletes and start a league? There had technically been professional basketball being played at MSG III since its inception, but it was traveling teams like the original Celtics, which weren’t associated with a league. People just didn’t think there was enough money in it, or a means and arenas to have such a league. So with other owners of hockey arenas around the US (and Canada!) They started the NBA in 1946. It wasn’t instantly as popular as the college game as you may suspect, with the Knicks even having to play at the 69th (nice) regiment armory when a college game was on that took priority over the NBA. Ironically, the armory was a few blocks away from the original location of MSG I and II, on Lexington between 25th and 26th, it’s still there for those NYers who happen to walk by and notice the building.
There were other major nationally news worth events that happened at MSG III, including a host of politically themed ventures including both a packed Nazi rally (really, and people were NOT happy about it as you may imagine) and an anti-nazi rally. There are some very famous photos and press about the pro Nazi rally, which happened in 1939 and was organized by the ‘German American Bund’. As Nazi's were wont to do, they recorded the thing, and for what it's worth, its some of the best and most crisp footage of the old garden although the Nazi's really spoil it - Here are the receipts. If only they put their efforts into making beautiful videos of basketball games instead of hate. Too bad the guy who charged the stage didn't do any damage, and I hate to think of what they did to him. Anyways before I get too riled up, a few years later this group would be banned, but MSG certainly took some heat for allowing this to go down, and deservedly so. The tradition of MSG doing anything for a buck holds strong!
Probably the most noteworthy event ever held in that venue was also somewhat a political event. The most famous version of ‘Happy Birthday’ ever sung took place at JFK’s birthday party, sung of course by Marilyn Monroe, at MSG III. Most people probably had no idea where this took place, and it may be realistically the most famous moment from any of the incarnations of MSG.
Another one of my favorite stories from that time is when they had first built MSG III there was a boxer, who’s name escapes me but this is the NBA sub so you all don’t care, that didn’t realize there was a new venue, so he showed up at the site of MSG II only to see that it had been demolished. He scooted uptown as quickly as he could, and won his fight. There is a whole host of boxing history that went down there, but I won’t bore you all with the details, just go look it up if you’re interested! The boxing events most of you have heard of, such as The Fight of the Century, would happen at the building that stands today, MSG IIII.
Now, on to the controversy.
Madison Square Garden IIII (current arena)
This is all just fact, and I won’t get into my biased opinion on why or why not this was the right thing to do. I’m going to lay out the full controversy before I get into some fun facts about the current arena…So here goes…
Yes, there was an above ground Penn Station. It was thought of as one of the most iconic and beautiful landmarks in NYC. Look up some pictures, it’s very cool.
In 1959, Graham-Paige bought a 40% stake in MSG for $4 million. Then, in 1960, Graham-Paige president Irving Felt (old NYers will recognize the name, the Felt Forum, which was the original name for the theater under the arena floor) bought the right to Penn Station. The idea was always that he would tear the old station down, and build the sports complex. The Pennsylvania Railroad company sold the air rights to the property because passenger traffic was on the decline after WW2, and they weren’t making enough money to upkeep the station. I’m sure the Penn Railroad company wasn’t too keen on tearing the building down, but Felt made them an offer they couldn’t refuse. In exchange for the rights of a building they couldn’t support anymore, the Penn Railroad company got a brand new, smaller station completely below the street at no cost, and also a 25% stake in the new MSG complex. That probably worked out ok for them. People tried to save the old station, as it was a beautiful and a lot of people were outraged that the city would let this happen. At the end of the day, the city voted to demolish the building in 1963. A lot went into this, it was simply too much for the railroad company to upkeep, and like I said, they got a pretty great offer. Also, they had at first optioned the air rights to William Zeckendorf in 1954, and he had some plans which would reconfigure the train station into several different things including a ‘world trade center’ and a ‘Palace of Progress’. These things didn’t come to pass, again, this was a MASSIVE building. Now it should be noted, if NYC wanted to save the building, they could have saved the building. It would not have been cheap, but they could have done it. However the city thought that since it was originally intended to be a ‘cost-effective and functional piece of the city’s infrastructure’ it was now mostly just a ‘monument to the past’. Pretty cold, but the city had a history of destroying historic buildings to build even more historic ones. A lot of the criticism from people after MSG4 was built, was that this was not the case in this instance, as opposed to say - tearing down the original Waldorf-Astoria to put up the Empire State Building. That one in retrospect, doesn’t have as much contention. The city thought they were being ‘progressive’ and from what I can gather, people didn’t believe they were actually going to tear the building down until they actually started doing it. When they actually started tearing it down, it sparked international outrage. As another user pointed out on the other thread, this led to the establishment of the NYC landmarks preservation commission, which did in fact save Grand Central from demolition in 1968. So that’s a silver lining to all of this. NYC didn’t step up to save the old Penn Station, but its demolition was not in vain. The outrage that it caused has surely saved plenty of other historic buildings from their demise. Like I said, I’m not trying to say it was right or wrong, this post is simply to state the facts on what happened and why it all happened.
(((I realize that I may have been typing hastily and drunk when I responded with why the old landmark Penn Station building was torn down for the new MSG. Admittedly, my timeline was slightly off, as the ‘no property tax’ thing happened afterwards to keep the Knicks / Rangers / MSG in the city. I went back into my research and wanted to make sure I explained what happened 100% accurately. Even though nobody disputed this in the thread, my post may have been confusing and the timeline in my head was a bit skewed, as I said the threat of moving to NJ was a factor in them originally tearing the train station down. This was the reason for the property tax cut, but not the original demo of the train station, as you've just read. I wanted to make sure the accurate story was told. So this should clear up the timeline, and why and when things happened the way they did.)))
The next big controversy is what I had a little mixed up in my original post, as I clumped it together with the original controversy, and that is the threat of the teams moving to New Jersey. This did happen and this is where it gets very, very, VERY sketchy.
In 1982, when Gulf and Western owned MSG, they threatened to move the teams to NJ, as the Giants and Jets had done, and also the Devils although they didn’t come from Manhattan. NJ had proven a more than viable option for professional sports teams, as it was just a short train ride away to the new Meadowlands Sports Complex. The Garden was in need of renovation, so they made then mayor Ed Koch an ultimatum - give us a tax break to help us renovate the arena and add the new fangled luxury boxes that all the newer arenas had. That led to a full property tax exemption for the next 10 years.
Koch ‘didn’t realize’ that no one put in a sunset date for the tax exemption. Some think he confused the clause that stated the teams would be locked in for at least 10 more years, for a clause that said the tax exemption would only last for 10 more years. The first part of that is true, so interestingly enough the Knicks and Rangers are not allowed to play home games anywhere else but MSG, or they would break the agreement, so things like the NHL winter classic that the Rangers play in, even if in NY they have to be the away team. Knicks in London? Away team. Not that those teams would give up a home games worth of revenue, but still they technically have to be the away team. So the garden has saved somewhere around half a billion dollars, yes BILLION dollars in property tax payments. It’s around $50 Million now, and although there have been bills, most notably in 2014 to try and get this changed, so far it’s fallen on deaf ears.
The argument against this is pretty plain to see, the Knicks and the Rangers are the most profitable teams in their respective sports, and that they don’t need this tax break. Let’s make one thing clear, Jim Dolan definitely does NOT need the tax break. Everyone has to pay property taxes. Except, Dolan and MSG. It’s a hard pill to swallow, even as the most diehard Knicks fan. The City Council almost unanimously voted to take it to state legislature in 2014, which has authority over the cities tax rules. There is sketchy stuff all through this, like state assembly leader at the time Sheldon Silver having his daughter and one of his former top aides on MSG payroll. Oh yeah, Sheldon Silver was convicted of federal fraud and extortion charges sometime after that focused on large payments that Silver received for years from Goldberg & Iryami, a law firm that specialized in seeking reductions of New York City real estate taxes for real estate developers. Silver was alleged to have persuaded developers who had business with the state to use the firm, which in turn generated $700,000 in referral fees to Silver. Totally not sketchy at all.
Here’s where it stands today, as controversy will be back to a fever pitch in a few years.
In 2013, the NYC council voted unanimously to give MSG a ten year permit, as opposed to their current agreement which gave them operating rights in perpetuity. This means that MSG’s operating permit is up in 2023. Penn Station is in dire need of renovation. Like, more-so than the Knicks are in need of talent. Dolan also spent a couple billion on renovating the arena into the state of the art facility it is today. He’s not planning on moving it. If the city wants Dolan to move the garden so they can renovate the station, it would be massively complicated, and the city would be forced to offer huge subsidies to get MSG out of the way. So chances are, everything goes on, status quo. Now I will say, from my time receiving internal emails at MSG, Dolan does not want a fight with the city. They realize that there can potentially be a compromise here. Also, he has a ton of money, and politicians tend to respond to that.
One thing that is a step in the right direction, is the massive building across 8th avenue, the iconic post office, which just like the old Penn Station has gone largely unused but BECAUSE of Penn Stations demolition has been protected itself from demolition. It has already begun to be repurposed for the train station, and by 2021 they are supposed to finish the construction on the inside to a huge, new, modern train hub. This will do a lot honestly in reducing the congestion in the old underground station.
The other internal rumblings, were that Dolan was going to let them build into the theater. Cuomo actually announced this plan, which would leave the arena intact. I will explain the layout of the current building later, but underneath the arena floor up on the 5th floor, sits the 2nd largest theater in all of NYC. In my time there it was being used less and less, mostly because the garden also owns Radio City and The Beacon theater, which are much nicer venues. There have been iconic events down in the theater also, including many NBA drafts, and some epic Eddie Murphy stand up specials, but it is in need of renovation. It is the only area that they didn’t touch during the renovation, because the thought process is that they’d just be competing with themselves in Radio and The Beacon. So The idea is that Dolan will throw the city a bone, and let them build up into the theater, in exchange for keeping the status quo, which would give Penn a much larger footprint. Admittedly, I’m not sure what progress has gone into this plan, and if the Amtrak plan for the post office has changed any of that. Basically, we’re just going to have to wait until 2023 to see what the future really holds for MSG, but knowing a bit about NYC politics, I wouldn’t count on anything changing.
Ok, now that that’s all out of the way, lets talk about the fun side of MSG4, if it hasn’t already left too sour of a taste in your collective mouths.
The new building is actually a pretty fascinating piece of architecture in its own right. Some people think the facade is ugly, and that’s fair, but the inner workings are pretty cool. Charles Luckman was the architect, and he also designed the Forum out in LA, owned now by MSG as well. In my opinion, the most fascinating part of the structure is the cable system which supports it. 48 cables connect from the outer circumference of the building, meeting at the middle in a center tension ring. This allows the arena to not have visual support beams, like the arenas before it all boasted. No visual beams means better sight lines, and less obstructions. This is a cool article from the time about it if you care to know more about the actual construction. If you’re ever at The Garden, look for little circular plaques on the wall, numbered 1-48. These mark where the cables line up in the arena, and security can actually use these to dictate where they are in the building. You’ll probably never notice them, unless you’re looking for them.
The other cool thing about the roof, is that if you look closely you’ll see that the actual ceiling which sits between the cables, you’ll see that it has tiny holes all through it. Thats because the ceiling is designed to absorb sound, its filled with sound absorption material so when the sound passes through the holes it helps deaden the room. Usually arenas are the worst place to see a concert, and the general rule of thumb is - the bigger the room, the louder and boomier it will be. It’s certainly not as good sounding as a smaller concert venue but it is better than any arena you’ll find. As opposed to oracle arena, which has a concrete ceiling meant to amplify sound for sporting events etc. Which makes it even more impressive how loud it gets in there, despite the ceilings best efforts.
When the building was built there was a 48 lane bowling alley, an art gallery, a hall of fame, and a 501 seat cinema. Thats right, a 48 lane bowling alley. It closed in the 80s, but had a lot of bowling events including some sort of bowling TV show apparently. I haven’t been able to confirm this, but this was what I was told by a reliable source! Someone older than myself can probably speak to that.
Unlike most arenas, the arena floor of MSG is actually 5 floors above street level, which allows for the theater underneath the arena floor.
Although the Felt Forum Theater at Madison Square Garden doesn’t have as many events as it used to, they still have events and even at the same time that there are events going on up in the main arena. When I was working there, we had plenty of instances where there were crazy concerts or games going on upstairs, and other events going on in the theater. You would have never known the other was going on, and there is no sound transmitted from one venue to the other. Also if you’re familiar with the theater, the rumor is the lights (probably its defining characteristic) that pattern the theater ceiling, equates exactly to the number of seats in the theater. I never was bored enough to count, so that’ll just have to be a rumor for now!
The floor of the arena itself is pretty cool, and if you’re not familiar with how these multi-sport arenas work, the ice lives underneath the court all through hockey and basketball season. It’s pretty remarkable to watch the ice crew make the ice, and pretty sad when it gets melted. The fun fact here is, not only can they switch over in under 3 hours from one sport to the other, but they WILL do it and have to do it several times a year to do a Knicks and Rangers home game on the same day. All four sides of the arena have expandable seating, think high school gym, which allows for almost 2 thousand more seats during Knicks games as opposed to rangers games. They cover the ice with a fiberglass/plastic compound material, and then the floor fits together like a giant puzzle over top of the material. This current material has been used since the renovation, and the ridiculous thing is before the new material, supposedly they had to melt the ice once during the season - to accommodate for the longest running event in MSG history, the dog show. Apparently the dogs could sense the ice! I wasn’t there at that time, but that was what I was told was the scenario.
Another ridiculous thing is seeing them set up for professional bull riding. It’s insane, they bring in literally 20 something dump trucks of dirt and they do a ‘running of the bulls’ where all the bulls run up the ramp that goes to the street, and into their pens. It’s probably the wildest thing you’ll see being set up there, and also leaves the arena smelling like, well, you know, for several weeks. Not as bad as it smells after Phish comes through for NYE, and no I’m not talking about reefer. That would be one thing, but it just smells…grimy.
As much as we all collectively have some disdain for James Dolan, it hasn’t been all bad. He has hosted 3 of the biggest benifit concerts of all time, for 9/11, Katrina, and Sandy. All the proceeds from these shows went towards victim relief. But what people don’t realize is that the first ever benefit concert happened at MSG, in George Harrison’s ‘The Concert For Bangladesh’.
As for the new renovation, they really did a nice job in a lot of ways. It took 3 years, from 2011-13. First of all, if you’ve never sat on the bridge for a game, do it. It’s truly a one of a kind view. If you’re not familiar with the bridge, they are 2 suspended walkways that were added during the renovation, with several rows of seating that stretch across the arena. One side is the ‘Media bridge’ where there are TV’s with full cable, all kinds of plugs for laptops and internet and all that. They will sell tickets to this side when it’s a game that the media isn’t hogging the whole thing. I like hanging up there during games because there are advanced stats on some of the channels, anything you would need to be covering the game from a journalistic perspective, so it’s pretty cool. Also that’s where the radio, and the hockey TV broadcast booths are, since the vantage point is better up there for hockey than on the glass.
Pro tip - sometimes on stub hub or wherever, those seats can be cheaper than the ones further back not on the bridge. This is because they’re the ‘300’ level, where as the seats all the way up on the sides are the 200 level. However there really isn’t a bad seat in the house. And there are bars INSIDE the seating area, so if you’re up in the top of the 200’s, you can hit the bar without ever leaving the arena bowl and missing a single second of that can’t miss Knicks basketball. The 400 level is cool too, that’s the blue seats, which were the original color of all the 400 level seats.
Back in the day, when there were paper tickets, the seats in the different levels were different colors, and the tickets for those seats would be the same color as your seats!
The suite situation is very insane now a days. There are the event level suites, which are 20 suites located literally on the arena floor, underneath the seating. They have no view of the game, but they come with 8 seats each right in the first few rows. It’s the best of both worlds, so you’ll see the first few rows CLEAR OUT during half time to go into their little luxury caves. There are also suites all through the mid level of the arena, and then a 3rd level of suites up on the 9th floor, facing the stage.
There are also luxury clubs, including the Delta Club, which if you’ve never had a ticket with access to it, and can afford it - I highly recommend it. Everything (minus alcohol of course!) is free, and the food is honestly ridiculous. Further down the hall and down the stairs is the JP Morgan club (throwback!) where an even more elite club (closest 100 or so seats) can hang out. And even more so, there is a place called ‘suite 200’. I never knew about this until I worked there. You can only go there if you’re invited, which means you’re very famous. For some reason, my keycard had access to this, and I explored it a few times. It’s ridiculous. Original trophies, huge original paintings, etc.
Speaking of trophies - everyone used to ask me where the Knicks championship trophies are - and the truth is, back when the Knicks won it was so long ago, that the NBA trophy was like the Stanley cup and changed hands every year. So…no Knicks championship trophies. However if you go to MSG you’ll notice the defining moments collection, the top moments in MSG history that line the walls of the 2 main concourses. There is one dedicated to the 1970 championship, and it has the eastern conference trophy in it. Now this I can confirm is true - if you examine the trophy you’ll notice that the little basketball player on top is a different hue than the rest of the trophy. That’s because apparently when they were compiling these displays a few years ago, they found the trophy in storage with the basketball man broken off the top of it, so they had to replace it. That’s why you can visibly tell that there is a difference between him and the rest of the trophy, if you really examine it.
Obviously there have been so many huge events at The Garden, I don’t really need to get into that here.
Also if you ever get the chance, visit the 9th floor where the signature suites are located. The coolest memorabilia in the building is up there, including one of those signed 50 greatest lithographs, Patrick Ewing and Wayne Gretzky’s locker, and even the statue of Joe Gans, a legendary African American boxer. This statue has the patina pretty much gone from his outstretched left arm is it was tradition for boxers to tap gloves with Joe for good luck before they took the ring. Now it sits up there, right next to the scale that was in use during the time of the fight of the century featuring Frazier and Ali. They also have an old school ice resurfacer up there, which is pretty cool.
Well, I’m sure there’s a ton that I left out - If you made it this far, you’re a champ.
TL;DR - Boston Garden was originally called Boston Madison Square Garden and was named after the arena in NY. There is only one 'The Garden' and it's super duper important. ;)
Edit - I should have mentioned wrestling. It’s intimately tied to MSG, but really deserves its own thread and I have no more characters!
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I made a list of content from the current wave of Boxsets and whether DGM sells them [Part 1]

I made a list of content from the current wave of Boxsets and whether DGM sells them [Part 1]
You can find Part 2 here
Based on a previous post, I decided to make a list of every disc from each of the currently available King Crimson boxsets. I do not include the content from the original Court of the Crimson King boxset from 2009 as that is long out of print and King Crimson is going to be redoing that set in the future. Where possible, I will include links to DGM if the discs are available for sale digitally through their store, in case you aren't interested in the sets as a whole, but might still want portions of them. If the disc is exclusive to the boxset, then I will make a note of it. This list is in order of when in King Crimson's history the boxsets cover, not necessarily the release order the sets came out in. For the sake of condensing the list as well as ease of reading the list, I will leave off the Discs that do not include studio releases as the main focus of this post is to show where on DGM Live you can purchase the content of the boxsets without having to purchase the entire boxset.

Sailors' Tales (1970-1972)

Sailor's Tales
Having lost half the band after In the Court of the Crimson King, Fripp would convince Greg Lake and Michael Giles to return as session musicians for In the Wake of Poseidon, but after that he would need a new overall lineup if King Crimson were to continue. This second Lineup would encompass In the Wake of Poseidon post-studio recording through Islands. This boxset covers the Islands era of King Crimson at the beginning of the 1970's. It was released on November 10, 2017.
CD Content-
  1. In the Wake of Poseidon - Studio Album 2010 Stereo Mix
    1. Bonus tracks:
    2. Cat Food (Single A Side)
    3. Groon (Single B Side)
    4. Cadence and Cascade (Guide Vocal; Greg Lake)
    5. In the Wake of Poseidon (Take 3)
    6. The Devil's Triangle (Part I Early Running Mix)
    7. The Devil's Triangle (Part II Fripp/Tippett Overdubs)
    8. The Devil's Triangle (Part III Steven Wilson Mix)
    9. Peace - An End (Alternate Mix)
  2. Lizard - Studio Album 2009 Stereo Mix
    1. Bonus Tracks:
    2. Indoor Games (Alternate Take)
    3. Happy Family (Alternate Take)
    4. Lady of the Dancing Water (Alternate Take)
    5. Prince Rupert Awakes (Jon Anderson, Vocals 2017 Mix by David Singleton)
    6. Prince Rupert Awakes (Keith Tippett, Piano)
    7. Bolero - The Peacock's Tale (Original Studio Recording, Bass Overdubs: Tony Levin)
    8. Prince Rupert's Lament (Alternate Take, 2015 Mix by Jakko Jakszyk)
  3. Islands - Studio Album. 2010 Stereo Mix
    1. Bonus Tracks:
    2. Formentera Lady (Take 2, 2010 Mix by Steven Wilson)
    3. Sailor's Tale (Alternate Guitar Takes, Remix by Alex R. Mundy)
    4. Ladies of the Road (Rehearsal/Outtake, 2010 Mix by Steven Wilson)
    5. Prelude - Song of the Gulls (String Section, Take 2)
    6. Islands (Original Studio Recording, Vocal Overdub: Jakko Jakszyk)
  4. The Zoom Club, Frankfurt April 12, 1971 - Available from DGM Live Here
  5. The Zoom Club, Frankfurt April 13, 1971 - Available from DGM Live Here
  6. The Zoom Club, Frankfurt April 14, 1971 - Available from DGM Live Here
  7. The Zoom Club, Frankfurt April 15, 1971 - Available from DGM Live Here
  8. The Marquee, London August 10, 1971 - Available from DGM Live Here
  9. The Marquee, London August 10, 1971 - Part of same DGM Link as Disc 8
  10. The Armory, Wilmington February 11, 1972 (Early Show) - Available from DGM Live Here
  11. The Academy of Music, New York February 12, 1972 (Early Show) - Not on DGM Live
  12. The Academy of Music, New York February 12, 1972 (Late Show) - Not on DGM Live
  13. Cinderella Ballroom, Detroit February 18, 1972 - Available from DGM Live Here
  14. Stanley Theatre, Pittsburgh March 6, 1972 - Available from DGM Live Here
  15. Riverside Theatre, Milwaukee March 8, 1972 - Available from DGM Live Here
  16. The Barn, Peoria March 10, 1972 - Available from DGM Live Here
  17. Summit Studios, Denver March 12, 1972 - Available from DGM Live Here*
  18. Originally released as King Crimson Collector's Club 9 in 2000 in a different mix in an edited form
  19. Earthbound - Live album previously available. Available from DGM Live without bonus tracks
Blu-Ray Disc 1 Content-
  1. In the Wake of Poseidon - Original Stereo Mix / 2010 Stereo Mix / 5.1 Surround Mix - 24/96
  2. Additional Material - Stereo/5.1 Surround - 24/96
  3. In the Wake of Poseidon - An Alternate Album Selection - Stereo - 24/96
    1. The alternate album selections take the tracklist of In the Wake of Poseidon and recreate it using Live versions or Alternate versions of recordings of the tracks.
  4. Additional Material - Stereo - 24/96
  5. Needledrops (Vinyl Transfers) - ILPS 9127 (In the Wake of Poseidon) - Stereo - 24/96
  6. Needledrops (Vinyl Transfers) - WIP 6080 a/b (Cat Food EP) - Stereo - 24/96
Blu-Ray Disc 2 Content-
  1. Lizard - Original Stereo Mix / 2009 Stereo Mix / 5.1 Surround Mix - 24/96
  2. Lizard - An Alternate Album Selection - Stereo - 24/96
    1. The alternate album selections take the tracklist of Lizard and recreate it using Live versions or Alternate versions of recordings of the tracks
  3. Additional Material - Stereo - 24/96
  4. Needledrops (Vinyl Transfers) - ILPS 9141 (Lizard) - Stereo - 24/96
  5. Rehearsals for 1971/72 Band Line-Up
Blu-Ray Disc 3 Content-
  1. Islands - Original Stereo Mix / 2010 Stereo Mix / 5.1 Surround Mix - 24/96
  2. Islands - An Alternate Album Selection - Stereo - 24/48
    1. The alternate album selections take the tracklist of Islands and recreate it using Live versions or Alternate versions of recordings of the tracks
  3. Additional Material - Stereo - 24/48
  4. Needledrops (Vinyl Transfers) - ILPS 9175 (Islands) - Stereo - 24/96
  5. Guildhall, Plymouth May 11th, 1971 - Available from DGM Live Here
  6. Green's Playhouse, Glasgow May 28, 1971 - Available from DGM Live Here
  7. Eastown Theatre, Detroit November 13, 197 - Available from DGM Live Here
Blu-Ray Disc 4 Content-
  1. Earthbound
    1. Extended tracklist. 12 tracks instead of 5
  2. Schizoid Men Parts 1-11 - Not on DGM Live
    1. This is available as disc 2 of the King Crimson Club Special Edition album called Ladies of the Road: Live 1971-1972. It is not available as a digital purchase from DGM Live, however, you can purchase a CD copy currently from DGM USA or from DGM UK
  3. Needledrop (Vinyl Transfer) - HELP 6 (Earthbound)
  4. Unidentified 1972 Show No. 1 - Not on DGM Live
  5. Unidentified 1972 Show No. 2 - Not on DGM Live
  6. Chicago, February 17th - Available from DGM Live Here
  7. Jacksonville, February 26th - Available from DGM Live Here
  8. Orlando, February 27th - Available from DGM Live Here
  9. Indianapolis, March 11th - Available from DGM Live Here
  10. Denver, March 13th - Available from DGM Live Here
  11. Denver, March 14th - Available from DGM Live Here

Larks' Tongues in Aspic: The Complete Recordings

Larks' Tongues in Aspic: The Complete Recordings
After the Islands Lineup Broke up, Robert Fripp would recruit Bill Bruford of Yes, John Wetton of Family, and David Cross to form the lineup that would run for the rest of King Crimson's 70's career. This Boxset picks up where Sailors' Tales left off, covering Late 1972 and 1973's Larks' Tongues in Aspic Studio Album. The boxset was released on October 15, 2012.
CD Content-
  1. The Zoom Club, Frankfurt October 13, 1972 - Available on DGM Live Here
    1. On DGM Live, Discs 1 and 2 are swapped compared to the box set's listing. Based on the Tracklist, I'm assuming the Box set is correct.
  2. The Zoom Club, Frankfurt October 13, 1972 - Second half of Disc 1's Content
  3. Live in the Studio, Bremen October 17, 1972 - Available on DGM Live Here
  4. Hull Technical College November 10, 1972 - Available on DGM Live Here
  5. Hull Technical College November 10, 1972 - Second Half of Disc 4's Content
    1. The DGM Live Download does not include the John Wetton Interview that the Box Set disc includes here. The Interview is likely this one available on DGM Live.
  6. Guildford Civic Hall November 13, 1972 - Available on DGM Live Here
  7. Oxford New Theatre November 25, 1972 - Available on DGM Live Here
  8. Glasgow Green's Playhouse December 1, 1972 - Available on DGM Live Here
  9. Portsmouth Guildhall December 15, 1972 - Available on DGM Live Here
  10. Larks' Tongues in Aspic Session Reels - Not on DGM Live
  11. This Disc has one track that is 1:19:16 long, which is every first take the band made during the recording of Larks' Tongues in Aspic, with studio talk between the band members and the engineer between each song.
  12. Larks' Tongues in Aspic - Original 1973 Stereo Mix 30th Anniversary Remaster
  13. Bonus Tracks:
  14. US Radio Ad
  15. Easy Money (edit)
  16. Exiles (edit)
  17. Larks' Tongues in Aspic (Part II) - Not sure what is different on this. It is about 12 seconds shorter than the non-bonus Part II.
  18. Alternate Takes & Mixes (Box Set has this listed as Disc 13. The DVD is Disc 12)
  19. This is the tracklist for the Larks' Tongues in Aspic Studio Album made up of alternate takes or mixes of said tracks. The exception is that this disc has an extra Easy Money at the end.
  20. Larks' Tongues in Aspic - 2012 Stereo Mix (Box Set has this listed as Disc 14. The DVD is Disc 12)

Starless

Starless. But not Bible Black?
This Boxset takes place between Late 1973 and Early 1974, sandwiched between Larks' Tongues in Aspic and The Road to Red. This Boxset was released on October 20, 2014.
CD Content-
  1. Apollo Theatre, Glasgow, UK October 23, 1973 - Available on DGM Live Here
  2. Apollo Theatre, Glasgow, UK October 23, 1973 - Second half of Disc 1's content
  3. Volkshaus Zurich, Switzerland November 15, 1973 - Available on DGM Live Here
  4. Volkshaus Zurich, Switzerland November 15, 1973 - Second half of Disc 3's content
  5. Concertgebouw, Amsterdam, Netherlands November 23, 1973 - Not on DGM Live
    1. This and Disc 6 are not on DGM Live as a digital purchase, however they make up the Live Album The Night Watch, which can be purchased as a CD from DGM USA and DGM UK here.
  6. Concertgebouw, Amsterdam, Netherlands November 23, 1973 - Second half of Disc 5's content
  7. Palazzo Dello Sport, Udine, Italy March 19, 1974 - Available on DGM Live Here
  8. Palazzo Dello Sport, Brescia, Italy March 20, 1974 - Available on DGM Live Here
  9. ORTF T.V Paris, France March 22, 1974 - Not on DGM Live
  10. Palais Paul Videl, Avignon March 24, 1974 - Available on DGM Live Here
  11. Palais Des Sports, Besancon, France March 25, 1974 - Available on DGM Live Here
  12. Stadttheater, Augsburg, Germany March 27, 1974 - Available on DGM Live Here
  13. Halle Der Fachoschule, Diesburg, Germany March 28, 1974 - Available on DGM Live Here
  14. Stadthalle, Heidelberg, Germany March 29, 1974 - Available on DGM Live Here
  15. Elzer Hof, Mainz, Germany March 30, 1974 - Available on DGM Live Here
  16. Jahnhalle, Pforzheim, Germany March 31, 1974 - Available on DGM Live Here
  17. Stadthalle Kassel, Germany April 1, 1974 - Available on DGM Live Here
  18. Stadthalle, Gottingen, Germany April 2, 1974 - Available on DGM Live Here
  19. Concertgebouw, Amsterdam, Netherlands November23, 1973 - Not on DGM Live
  20. This is an alternate 'preparatory' mix of The Night Watch made for radio broadcast by George Chkiantz in 1974
  21. Starless and Bible Black - 2011 Stereo Mix
  22. University of Texas, Arlington, TX October 6, 1973 - Available on DGM Live Here
  23. Audio Curios - Not on DGM Live
  24. Essentially, this disc seems to include live recordings that do not really fit anywhere else, including for example the complete Mincer improv minus the overdubs, the final tracks of University of Texas that didn't fit on Disc 21, Dr. Diamond from Atlanta, etc.
  25. Palazzo Dello Sport, Udine, Italy March 19, 1974 - First half of Disc 7's Content
DVD Disc 2 Content
  1. Stanley Theatre, Pittsburgh, USA April 29, 1974 - Not on DGM Live
    1. More accurately, this is only a small portion of the concert. The whole concert is available in The Road to Red Boxset. This portion is not available separately on DGM Live, but the whole concert is on DGM Live. I will include a link to the concert under the concert in The Road to Red.

The Road to Red

The Road to Red
Rounding out the end of the 1970's saga of King Crimson, as well as the Larks' Tongues era, John Wetton's and David Cross' tenure, and even the final tour before Robert Fripp discovers Dapper Dan in the 1980's, we have The Road to Red. This Boxset picks up days after Starless leaves off in 1974 and goes through the American tour King Crimson embarked prior to the release of Red. This boxset was released on October 14, 2013.
CD Content-
  1. Veterans Memorial Colisseum, Columbus, OH April 28, 1974 - Available on DGM Live Here
  2. Stanley Theatre, Pittsburgh, PA April 29, 1974 - Available on DGM Live Here
    1. This is the entire concert that a small portion is available on in the Starless Boxset.
  3. Stanley Theatre, Pittsburgh, PA April 29, 1974 - Second half of Disc 2's Content
  4. Hofheinz Pavilion, Houston, TX June 5, 1974 - Available on DGM Live Here
  5. Tarrant County Convention Centre, Fort Worth, TX June 6, 1974 - Available on DGM Live Here
  6. Fairground Arena, Oklahoma City, OK June 7, 1974 - Available on DGM Live Here
  7. Civil Auditorium, El Paso, TX June 8, 1974 - Available on DGM Live Here
  8. Coliseum, Denver, CO June 16, 1974 - Available on DGM Live Here
  9. Performing Arts Centre, Milwaukee, WI June 22, 1974 - Available on DGM Live Here
  10. Aquinas College, Grand Rapids, MI June 23, 1974 - Available on DGM Live Here
  11. Massey Hall, Toronto, Ontario June 24, 1974 - Available on DGM Live Here
  12. Massey Hall, Toronto, Ontario June 24, 1974 - Second Half of Disc 11's contents
  13. Convention Center, Quebec City, Quebec June 25, 1974 - Available on DGM Live Here
  14. Kennedy Centre, Washington, DC June 27 - Available on DGM Live Here
  15. Casino Arena, Asbury Park, NJ June 28, 1974 - Not on DGM Live
  16. This is an alternate mix with an additional track.
  17. Casino Arena, Asbury Park, NJ June 28, 1974 - Available on DGM Live Here
  18. Penn State University, University Park, PA June 29, 1974 - Available on DGM Live Here
  19. Palace Theatre, Providence, RI June 30, 1974 - Available on DGM Live Here
  20. Palace Theatre, Providence, RI June 30, 1974 - Second half of Disc 18's content
  21. Central Park, New York, NY July 1, 1974 - Available on DGM Live Here
  22. Red - 2013 Stereo Mix
DVD Content (Also on Blu-Ray Disc 2)
  1. USA - 30th Anniversary Remaster - Available on DGM Live Here

On (and off) The Road

On (and off) The Road
After a nearly 7 year hiatus, King Crimson is back after Fripp brought back Bill Bruford and enlisted Americans Tony Levin and Adrian Belew into a very different iteration of King Crimson, one that wasn't even originally going to be called King Crimson. This box set covers this era, encompassing the 1980s and the associated studio albums of Discipline, Beat, and Three of a Perfect Pair. This Box set was released on October 28, 2016.
CD Content-
  1. Discipline
  2. Live in Japan December 18, 1981 - Available on DGM Live Here
  3. Beat
  4. Live at Alabamahalle September 29, 1982 - Available on DGM Live Here
  5. Fragmented - Available on DGM Live Here
    1. This is a set of studio recordings made that would eventually be scrapped in favor of what would become Three of a Perfect Pair. This was previously available in the King Crimson Collector's Club, but this version has 2 additional tracks. The DGM Live purchase lacks the additional tracks as well. The additional tracks are:
      1. Yoli Yoli
      2. Adrian and Robert
  6. Three of a Perfect Pair
  7. Absent Lovers- Not on DGM Live
    1. This is not available as a Digital purchase from DGM Live, however you can purchase a CD copy of it from DGM USA or DGM UK.
  8. Absent Lovers- Second half of Disc 7's content
  9. Are you recording Gary? - Not on DGM Live
    1. This disc is similar to Larks' Tongues in Aspic's Session Reels in that it is a behind the scenes look at King Crimson in the studio. The title track is 15 minutes of King Crimson jamming and chatting working out material. The other three tracks are essentially abridged versions of the three albums of the era showing various portions of the albums in work in progress states.
  10. Live at Moles Club - Available on DGM Live Here
DVD Bonus Disc 2 (Overall Disc 19) Content
  1. Philadelphia July 30, 1982 - Available on DGM Live Here
  2. Asbury Park July 31, 1982 - Available on DGM Live Here
  3. Cap D'Agde August 26, 1982 - Available on DGM Live Here
  4. Frejus August 27, 1982 - Available on DGM Live Here
You can find Part 2 Here
submitted by sonic10158 to KingCrimson [link] [comments]

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