4 ms·

If a company is based on its network effects, and is “worth” $11B, in an industry that you participate in, and you nor anyone you have ever met has seen it in t

If a company is based on its network effects, and is “worth” $11B, in an industry that you participate in, and you nor anyone you have ever met has seen it in the wild, it at least implies that something fishy is going on.

kumarm 4y ago
Comments like these are what make people like me to think may be bolt ex CEO has a point. Have you even read the article? ABG as part of lawsuit want 5% of stake in business for 30M (valued at 500M currently). Obviously their customer who is suing them want a part of business says something. Also article clearly mentions forever21 uses them.
- arbuge 4y ago
  > Obviously their customer who is suing them want a part of business says something. It might just say that they want to be able to take that stake and liquidate it now quickly while the private markets still have a high value on it.
  - daveed 4y ago
    The "private markets" right now are probably depressed, given that ABG is suing and kind of shitting on them? If they want a position in Bolt I feel like it would be the long view.
- nrmitchi 4y ago
  I have read the article, and I’m still not sure what your point was. Are you claiming that I’m part of “the mob”? My comment had nothing to do with ABG, or them wanting whatever is in their contract. It was commenting on that fact that I, not apparently the parent commenter, has ever actually seen the Bolt product in the wild. That’s weird for something apparently valued at 250x their ARR. Regarding ABG’s claim to a 5% stake, you can’t comment on what that means without knowing the terms that apply.
  - dbingham 4y ago
    You probably have seen it, but didn't realize you were seeing it. It powers the check out flow for many, many independent e-commerce websites. They don't brand it, so if you weren't oaying close attention to the details of the checkout flow ux, you wouldn't notice it. I became aware of it when I noticed that a bunch of online shops I use had exactly the same checkout UI.
    - nrmitchi 4y ago
      Bolts “network” page, which lets you search/shop across all their “network” only has 249 “customers” on it, many of which are absolutely tiny websites selling very niche products with 0 reviews. I’m not sure 249 counts as “many, many”
- didibus 4y ago
  > Also article clearly mentions forever21 uses them ABG is forever21, they're the one suing bolt.
- JumpCrisscross 4y ago
  > ABG as part of lawsuit want 5% of stake in business for 30M (valued at 500M currently) ABG claims they have a warrant. Bolt says no. Not sure how any third party can say anything to the veracity of these claims without the contracts. On the facts, it's no more ridiculous than an early employee exercising far in-the-money options.
spoonjim 4y ago
How much online apparel shopping do you do?
threeseed 4y ago
Except that Bolt has no network effects. It's literally you drop it in to your website and it improves your checkout experience. And I imagine they acquire customers by ringing them up and showing them improved conversion stats.
- nrmitchi 4y ago
  Half of Bolt's thing is "our existing network of customers will be able to buy stuff on your site easier". They can only build a network of customers by having a network of merchants dumping customers into their system. The article in qusetion literally includes the line: > Because Bolt’s business relies on having a large network of consumers
- rsanek 4y ago
  Have you ever used Shop Pay or Square checkout (the online version)? There is actually a massive network effect.
  - variaga 4y ago
    I've used Square checkout. I honestly have no idea what "network effect" you're referring to. It has literally never occurred to me to select/deselect an online store or purchase/not-purchase something based on who the payment processor is. I usually don't even know that until after the decision has already been made and I've hit the "proceed to checkout" button. Who are these people who are like "well, I wanted (or didn't want) $THING but then I saw which of the many basically identical forms I'd be filling out to complete the purchase and changed my mind"?
    - rsanek 4y ago
      It's possible you didn't pick the "remember me" option -- the network effect I get is that once I've used that payment network once, I can one-click purchase from any other merchant on the network (that is, I skip the "forms I'd be filling out" because the service already has a cookie and knows my payment/shipping info). I know I personally am more likely to finish a checkout flow if it is easy, and Shop Pay in particular is crazy fast when it's one-click even at merchants I've never before shopped at.

kumarm 4y ago

Comments like these are what make people like me to think may be bolt ex CEO has a point. Have you even read the article? ABG as part of lawsuit want 5% of stake in business for 30M (valued at 500M currently). Obviously their customer who is suing them want a part of business says something. Also article clearly mentions forever21 uses them.

arbuge 4y ago
> Obviously their customer who is suing them want a part of business says something. It might just say that they want to be able to take that stake and liquidate it now quickly while the private markets still have a high value on it.
- daveed 4y ago
  The "private markets" right now are probably depressed, given that ABG is suing and kind of shitting on them? If they want a position in Bolt I feel like it would be the long view.
nrmitchi 4y ago
I have read the article, and I’m still not sure what your point was. Are you claiming that I’m part of “the mob”? My comment had nothing to do with ABG, or them wanting whatever is in their contract. It was commenting on that fact that I, not apparently the parent commenter, has ever actually seen the Bolt product in the wild. That’s weird for something apparently valued at 250x their ARR. Regarding ABG’s claim to a 5% stake, you can’t comment on what that means without knowing the terms that apply.
- dbingham 4y ago
  You probably have seen it, but didn't realize you were seeing it. It powers the check out flow for many, many independent e-commerce websites. They don't brand it, so if you weren't oaying close attention to the details of the checkout flow ux, you wouldn't notice it. I became aware of it when I noticed that a bunch of online shops I use had exactly the same checkout UI.
  - nrmitchi 4y ago
    Bolts “network” page, which lets you search/shop across all their “network” only has 249 “customers” on it, many of which are absolutely tiny websites selling very niche products with 0 reviews. I’m not sure 249 counts as “many, many”
didibus 4y ago
> Also article clearly mentions forever21 uses them ABG is forever21, they're the one suing bolt.
JumpCrisscross 4y ago
> ABG as part of lawsuit want 5% of stake in business for 30M (valued at 500M currently) ABG claims they have a warrant. Bolt says no. Not sure how any third party can say anything to the veracity of these claims without the contracts. On the facts, it's no more ridiculous than an early employee exercising far in-the-money options.

spoonjim 4y ago

How much online apparel shopping do you do?

threeseed 4y ago

Except that Bolt has no network effects. It's literally you drop it in to your website and it improves your checkout experience. And I imagine they acquire customers by ringing them up and showing them improved conversion stats.

nrmitchi 4y ago
Half of Bolt's thing is "our existing network of customers will be able to buy stuff on your site easier". They can only build a network of customers by having a network of merchants dumping customers into their system. The article in qusetion literally includes the line: > Because Bolt’s business relies on having a large network of consumers
rsanek 4y ago
Have you ever used Shop Pay or Square checkout (the online version)? There is actually a massive network effect.
- variaga 4y ago
  I've used Square checkout. I honestly have no idea what "network effect" you're referring to. It has literally never occurred to me to select/deselect an online store or purchase/not-purchase something based on who the payment processor is. I usually don't even know that until after the decision has already been made and I've hit the "proceed to checkout" button. Who are these people who are like "well, I wanted (or didn't want) $THING but then I saw which of the many basically identical forms I'd be filling out to complete the purchase and changed my mind"?
  - rsanek 4y ago
    It's possible you didn't pick the "remember me" option -- the network effect I get is that once I've used that payment network once, I can one-click purchase from any other merchant on the network (that is, I skip the "forms I'd be filling out" because the service already has a cookie and knows my payment/shipping info). I know I personally am more likely to finish a checkout flow if it is easy, and Shop Pay in particular is crazy fast when it's one-click even at merchants I've never before shopped at.