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Their CEO, Francis Davidson, Forbes 30 under 30. Strikes again. Unicorn status (1 billion) in 2020, to bankrupt in 2025. Another Zero Interest Rate Phenomenon.

by 650 11mo ago

Their CEO, Francis Davidson, Forbes 30 under 30. Strikes again. Unicorn status (1 billion) in 2020, to bankrupt in 2025. Another Zero Interest Rate Phenomenon. https://en.wikipedia.org/wiki/Sonder_(company) https://en.wikipedia.org/wiki/Sonder_(company) https://www.linkedin.com/in/francisdavidson/ https://www.linkedin.com/in/francisdavidson/

parpfish 11mo ago
was this a case where a 1bil valuation in 2020 was increased because of covid (people wanted hotels that didn't require any human interaction) OR they were valued at 1bil pre-covid and covid killed their momentum when travel stopped?
- projektfu 11mo ago
  They IPO'd in 2021 and were worth about 22 billion until Jan 2022. Then a precipitous fall to about 2.2 billion in 2023, 220 million in 2024, and now 22 million.
  - gruez 11mo ago
    >They IPO'd in 2021 and were worth about 22 billion until Jan 2022 No, they IPOed via a merger with SPAC in January 2022, and almost immediately the price of the company took a dip. 2021 was probably when the SPAC was founded/IPOed, and the relatively flat price prior to 2022 was because it was basically a pot of money. https://en.wikipedia.org/wiki/Sonder_(company)#History https://en.wikipedia.org/wiki/Sonder_(company)#History
    - projektfu 11mo ago
      Ah, makes sense. But then the nearly geometric decline began.
ryandrake 11mo ago
> Forbes 30 under 30 Really amazing how much of a reliable indicator this has become.
- api 11mo ago
  Time Man of the Year is even worse. That’s like being led up a ladder into a big wicker man.
  - dabluecaboose 11mo ago
    TIME naming everyone Person of the Year in 2006 is really what started us down this twisted timeline
  - embedding-shape 11mo ago
    To be fair, Person of the Year is a prize that is more "This is a person who impacted the world", not necessarily "This is a good person that deserves praise". Both Stalin (twice!) and Hitler been Person of the Year. Forbes 30 under 30 seems to be a bit more interesting for narcissists, as it really focuses on their "great achievements".
    - Dettul 11mo ago
      [dead]
- Freedom2 11mo ago
  I'm not 100% sure - there's quite a few YC founders who have been on the Forbes 30 under 30. As we're commenting on one of their sites, I feel obligated to point out how great it is as an accelerator as well!
- roncesvalles 11mo ago
  I know of a startup founder (I think YC) who "won" the 30 Under 30 and now goes to great lengths to hide this fact, i.e. it's never mentioned on their LinkedIn or any online profile that they have control over. Probably can't stop search engines from indexing Forbes.com but still.
mirekrusin 11mo ago
Dude ejected himself 4 mo ago to "work on something new"? Nice one.
- jacquesm 11mo ago
  He's just hoping to be the next Altman.
  - luke5441 11mo ago
    You're thinking of Neumann, Altman will be in the same in the future, though. New equals old.
    - orwin 11mo ago
      Didn't Altman fail upward multiple times before working at YC?
      - apwell23 11mo ago
        yea paul graham knew with 10 mins of meeting teenage sam that sama is going to be the next bill gates . True story from silicon valley ( real one not HBO one)
- Projectiboga 11mo ago
  Likely split the minute his lockin ended.
yieldcrv 11mo ago
I was at some Forbes 30 under 30 party a couple years ago - as in, I started noticing a large number of guests were that - and I started offering myself up as a future character witness
- nandomrumber 11mo ago
  Sounds like something Michael Malice might say. Or P.J. O’Rourke. If you haven’t heard of him, check him out in his podcast ‘Your Welcome’, spelling intentional.
jacquesm 11mo ago
That's such a red flag by now. That and a Softbank investment. And I'm not sure which is worse.
raincom 11mo ago
Hope he cashed out by dumping his shares in the private market.
kylehotchkiss 11mo ago
> Forbes 30 under 30 Isn't this one of those pay-to-play accolades?
- recursivecaveat 11mo ago
  Oh 100%. If you actually browse through one of the lists a lot of people are nominated because they raised a bunch of investment to do X, not because they've actually done X. Venture capital sponsors brand events, forbes in return selects their prospects for marketing. Lists plural too, there are so many categories that I counted 1230 30u30 winners last year.

by 650 11mo ago

parpfish 11mo ago

was this a case where a 1bil valuation in 2020 was increased because of covid (people wanted hotels that didn't require any human interaction) OR they were valued at 1bil pre-covid and covid killed their momentum when travel stopped?

projektfu 11mo ago
They IPO'd in 2021 and were worth about 22 billion until Jan 2022. Then a precipitous fall to about 2.2 billion in 2023, 220 million in 2024, and now 22 million.
- gruez 11mo ago
  >They IPO'd in 2021 and were worth about 22 billion until Jan 2022 No, they IPOed via a merger with SPAC in January 2022, and almost immediately the price of the company took a dip. 2021 was probably when the SPAC was founded/IPOed, and the relatively flat price prior to 2022 was because it was basically a pot of money. https://en.wikipedia.org/wiki/Sonder_(company)#History https://en.wikipedia.org/wiki/Sonder_(company)#History
  - projektfu 11mo ago
    Ah, makes sense. But then the nearly geometric decline began.

ryandrake 11mo ago

> Forbes 30 under 30 Really amazing how much of a reliable indicator this has become.

api 11mo ago
Time Man of the Year is even worse. That’s like being led up a ladder into a big wicker man.
- dabluecaboose 11mo ago
  TIME naming everyone Person of the Year in 2006 is really what started us down this twisted timeline
- embedding-shape 11mo ago
  To be fair, Person of the Year is a prize that is more "This is a person who impacted the world", not necessarily "This is a good person that deserves praise". Both Stalin (twice!) and Hitler been Person of the Year. Forbes 30 under 30 seems to be a bit more interesting for narcissists, as it really focuses on their "great achievements".
  - Dettul 11mo ago
    [dead]
Freedom2 11mo ago
I'm not 100% sure - there's quite a few YC founders who have been on the Forbes 30 under 30. As we're commenting on one of their sites, I feel obligated to point out how great it is as an accelerator as well!
roncesvalles 11mo ago
I know of a startup founder (I think YC) who "won" the 30 Under 30 and now goes to great lengths to hide this fact, i.e. it's never mentioned on their LinkedIn or any online profile that they have control over. Probably can't stop search engines from indexing Forbes.com but still.

mirekrusin 11mo ago

Dude ejected himself 4 mo ago to "work on something new"? Nice one.

jacquesm 11mo ago
He's just hoping to be the next Altman.
- luke5441 11mo ago
  You're thinking of Neumann, Altman will be in the same in the future, though. New equals old.
  - orwin 11mo ago
    Didn't Altman fail upward multiple times before working at YC?
    - apwell23 11mo ago
      yea paul graham knew with 10 mins of meeting teenage sam that sama is going to be the next bill gates . True story from silicon valley ( real one not HBO one)
Projectiboga 11mo ago
Likely split the minute his lockin ended.

yieldcrv 11mo ago

I was at some Forbes 30 under 30 party a couple years ago - as in, I started noticing a large number of guests were that - and I started offering myself up as a future character witness

nandomrumber 11mo ago
Sounds like something Michael Malice might say. Or P.J. O’Rourke. If you haven’t heard of him, check him out in his podcast ‘Your Welcome’, spelling intentional.

jacquesm 11mo ago

That's such a red flag by now. That and a Softbank investment. And I'm not sure which is worse.

raincom 11mo ago

Hope he cashed out by dumping his shares in the private market.

kylehotchkiss 11mo ago

> Forbes 30 under 30 Isn't this one of those pay-to-play accolades?

recursivecaveat 11mo ago
Oh 100%. If you actually browse through one of the lists a lot of people are nominated because they raised a bunch of investment to do X, not because they've actually done X. Venture capital sponsors brand events, forbes in return selects their prospects for marketing. Lists plural too, there are so many categories that I counted 1230 30u30 winners last year.