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As long as we’re pointing things out, we should also point out that unsustainable companies have not quite yet collapsed due to interest rates. We’re only seein
by xwdv 3y ago
As long as we’re pointing things out, we should also point out that unsustainable companies have not quite yet collapsed due to interest rates. We’re only seeing some pain, but once we due reach a proper high interest rate era these companies will be gone.
- tempsy 3y agoBirds scooter (remember them?) was just kicked off NYSE and trading on OTC. It's literally down -99.7% since they IPO'd. This was valued at nearly $10B at the peak.
- jamiek88 3y agoSPAC’s don’t count. They were all scams to start with.
- tempsy 3y agoof course this counts. scooters were viewed at the next Uber in 2017-2018 with massive amounts of funding from well known VCs. and yes I realize the majority of SPACs were pre-product scams.
- xwdv 3y agoIt doesn’t. But if it did, I would still say the collapse wasn’t due to interest rate hikes but rather from increasing regulation banning these scooters from major cities and from a flood of cheap competitors.
- kikokikokiko 3y agoWhy wouldn't SPACs count? What allowed those financial scams, spacs, crypto, zombie companies, was this low interest rates environment, for over a decade. Of course SPACs count, they are a consequence of LIR.
- EFreethought 3y agoI think SPACs are a bit different. They have been around since the 1990s, and for a long time there were maybe a dozen SPACs in a year. In 2021 there were about 600. I think they will stick around and go back to their previous volume. Grift-o-currency is a scam and I hope it dies soon.