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My favourite is Allbirds that pivoted from eco friendly shoes to AI infrastructure. How do you even make that decision?
by jamwise 5mo ago
My favourite is Allbirds that pivoted from eco friendly shoes to AI infrastructure. How do you even make that decision?
- deleted 5mo ago[deleted]
- root_axis 5mo agoIt's not really a pivot though, is it? As I understand it, the company went bust and sold their branding to a different company that wants to do AI infra.
- kjkjadksj 5mo agoBranding not used for its intended purpose is about as useful as calling your landscaping company four seasons.
- SpicyLemonZest 5mo agoTo be clear, everything about Allbirds including the brand name and other IP was sold off. The shoe store will continue operating (unless or perhaps until the new owners choose to shut it down) under the name "Allbirds"; the public company doing AI infra with the stock ticker BIRD will be named "NewBird AI".
- kjkjadksj 4mo agoSo all this ai company wanted was the stock ticker?
- duttish 5mo agoWhat I saw somewhere, don't know if it's true or a rumour, was that it was a wallstreet guy offering them $5M for if he could shift the strategy. So be bought a _lot_ of shares of the very cheap pre-pivot price, paid them $5M for the pivot, sold the shares at the now 600% stock increase. Netted a tidy profit after the $5M. They didn't trade company fundamentals, they traded the market sentiment.
- jknoepfler 5mo agoa.k.a. textbook bubble behavior
- dawnerd 5mo agoDidn’t even sell the branding since that got sold to the same company that buys up all sorts of brands. The ai “pivot” was a blatant last ditch effort to milk some of the stock. It’s nothing more than fraud.
- jgalt212 5mo agowhy not Aibirds then, it's almost like Allbirds?
- bee_rider 5mo agoThey should make an app that can identify any bird. Then they will be able to justify it: we always wanted to live up to our name, the shoes were a side quest.
- KennyBlanken 5mo agoWe live in an age when a guy who designed overblown mass-market "luxury" handbags and zero tech industry experience ends up in charge of software and hardware UX at the world's most successful mobile and computer hardware company. And be grossly incompetent, but still manage to last nearly a decade.
- kkotak 5mo agoSo.... Who's is it then?
- quickthrowman 4mo agoAre you referring to Joanie or Alan Dye? I still can’t understand why an adult chose to go by Joanie in their professional career. Don’t believe his lies, Jony rhymes with bony, Jonny rhymes with bonny.
- xboxnolifes 4mo agoThey didn't pivot. Their company is worthless, they sold whatever meager assets were left until they were left with only their name, and then they made an AI investment announcement to pump and dump their stock.