Didn’t South Park literally just do this?
It’s weed but with ai.
It’s shoes but with ai.
What that fuck is this clown world I am living in?
Long Island Ice tea Company changed their name to Long Island Blockchain a few years ago, similar results.
This stock market is so unbelievably detached from reality it’s not even funny anymore. It’s all “meme stocks”.
At least back in the day there was the thinnest guise of this stuff having some semblance of a connection to the ground-level economics of business. (You know, old fashioned stuff like employing people to make products and selling them for a profit.) My parents generation could at least be forgiven for believing that it was driven by serious people making logical decisions about money…
But today it’s just so clearly based on vibes, algorithms, hype, and an unhealthy dose of total randomness that you might as well get into cryptocurrency or take your paycheck to the casino.
The whole thing stinks. It’s like one giant ponzi scheme fueled by ketamine and hopium.
Always has been. Nowadays it’s just visible to everyone.
Some things have changed, it used to be fueled by cocaine and hopium.
Back in what day? 25 years ago this is exactly what happened with the dotcom bubble and it was just as silly.
A shoe company going into AI? What could go wrong?
The other shoe could drop.
What do AI companies need? A place to house their datacenters. What does this failing shoe company likely have? Empty warehouses, and I bet they’re located close to good power infrastructure with proper zoning to get datacenters installed before the locals can change the zoning to keep them out.
if we’re assuming that they can actually achieve what they’re saying (and not doing a pump and dump) the market would have already shifted infrastructure-wise and the cost to setup would have increased.
We’d be presuming that Allbirds owns their warehousing space. For all I know they could be drop-shipping from third-party warehousing.
The retail investor market is full of ASSumptions.
This is private equity converting a warehouse into a data center though right?
Why does this feel like the new gig economy scam for companies?
Need extra cash? Make some easily by renting out server space!
It doesn’t take much to boost the price of a stock by 400% if the stock is already practically worthless.
$3 to $17. That’s a reasonably big jump.
But they IPO’d in 2021 around $400 and dropped to $100 in about four months and have been decaying since. From that perspective it’s only a small bump.
It’s insane they were valued that high to begin with.
It’s not the per-share, it’s the market cap.
Touché, but I counter with much being converting a shoe company to a consumer based AI sales company.
As in: well that’s a bit much.
I guess bullshit is easier to make than shoes.
It converted to a company that sells buzzwords to investors as far as I can tell.
This world is to stupid for me
I liked those shoes. Too bad.
I bet you can find them for cheap soon.
