Pete Davidson’s Billion-Dollar VHS Gamble: The Hilarious Update Fans Have Been Waiting For

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Remember when Pete Davidson announced he’d stockpiled thousands of sealed VHS tapes during the pandemic, convinced they’d become the next vinyl? 

Well, the comedian finally returned to Jimmy Fallon’s couch — and he delivered the follow-up that late-night fans have been anticipating for over two years.

It’s exactly the kind of self-deprecating punchline that makes Davidson such a compelling recurring guest.

Pete Davidson’s long-awaited VHS update

The 32-year-old former “Saturday Night Live” star appeared on the Jan. 26 episode of “The Tonight Show Starring Jimmy Fallon” and wasted no time addressing the elephant in the room. 

Or, in this case, the 10,000 VHS tapes presumably taking up a significant amount of space somewhere in his life.

“Last time — I was here a while ago — I had this, like, weird hunch that VHS’s would be worth billions of dollars,” he told host Jimmy Fallon. “I had a lot of fun during COVID and bought 10,000 VHS tapes, sealed.”

For those keeping track at home, that number represents a significant escalation from his original investment. 

Davidson went on to reveal that he thought they would sell for millions of dollars because they were “never opened,” but that’s not exactly what happened.

“Uh, they went down — so much,” he said. “But I get to look at them every day as a reminder not to do drugs.”

And there it is — the quintessential Pete Davidson moment that fans tune in for. Rather than deflect or minimize the failed investment, he leans directly into the absurdity, transforming what could be an embarrassing admission into comedy gold.

Pete Davidson was convinced his idea would work

The update comes more than two years since he first opened up about his VHS collection, and for dedicated Tonight Show viewers, this callback creates a satisfying narrative loop that rewards loyal fans.

During a 2023 appearance on “The Tonight Show Starring Jimmy Fallon,” Davidson revealed that he started collecting sealed VHS tapes during the COVID-19 pandemic with a theory that seemed almost reasonable at the time.

“Listen to this, guys,” he told Fallon. “In 2026, it’ll be 20 years since the last VHS was made, right? So 20 years goes by, that’s enough time for people to be, like, ‘Oh that was cool. Remember? Like vinyl.’”

The logic wasn’t entirely without merit. Vinyl records did experience a remarkable resurgence, transforming from obsolete technology into coveted collector’s items. Davidson was essentially betting that nostalgia would work its magic on another format — a gamble that plenty of collectors have made on various retro items over the years.

At the time, he said he bought around 3,000 to 5,000 tapes — and described it as his personal GameStop. 

“If it doesn’t work, dude, I’m gonna be on the road forever,” he said during that 2023 appearance.

For context on Davidson’s investment thesis, according to “The Los Angeles Times,” David Cronenberg’s 2006 movie “A History of Violence” is widely believed to be the last major Hollywood movie to be released on VHS. 

This means Davidson’s 2026 milestone — the 20-year anniversary he was banking on — is here, yet the anticipated nostalgia boom hasn’t materialized in the way he’d hoped.

From VHS Collector to Dad Van Designer

But here’s where the story takes an unexpectedly wholesome turn. 

Davidson’s collection might not be worth what he was hoping for, but he at least has a place for him and his new daughter to watch them, if he wants to unseal them.

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In December, Davidson collaborated with builder Tony Angelo as part of eBay’s new “Built to Spec” series to create the ultimate “dad van” complete with a VHS player, mini fridge, changing table and bottle warmer. 

Yes, you read that correctly — Pete Davidson now owns a custom minivan with a built-in VHS player, which feels like the universe’s way of ensuring those tapes don’t go completely to waste.

“The amount of VHS, weird Burger King watches from the ’90s that I’ve ordered, and VHS TVs,” he said in an interview with People at the time, revealing that his retro collecting habits extend well beyond magnetic tape.

And the timing of this dad van project wasn’t coincidental. Pete Davidson and his partner, Elsie Hewitt, welcomed their daughter, Scottie Rose Hewitt Davidson, on December 12, 2025, per People.