I'd love to read the mind of an investor that actually falls for this shit. Who actually thinks that Allbirds will see much higher returns because they "have an AI graphics division?"
I like AI, but seriously, who actually invests on this basis? Where is the critical thinking? I don't feel sympathy for any investor that gets rug pulled on this stuff.
A lot of it is prisoner's dilemma and its variants. As an investor, even if you think a particular AI shift is bullshit, you have to take into account the possibility that other investors won't - and at that point you might miss out on the gains.
This is one of the reasons stock market is so disconnected from reality.
Allbirds sold their shoe business and is basically a SPAC that spun up an AI company under the existing publicly traded company. For all intents and purposes it’s just a new AI company.
My favourite is Allbirds that pivoted from eco friendly shoes to AI infrastructure. How do you even make that decision?
Two past co's I know well rebranded themselves as "cloud" a decade ago with a narrow definition
My favourite example is Allbirds which was an eco friendly shoe brand that pivoted into AI infrastructure provider.
I'd love to read the mind of an investor that actually falls for this shit. Who actually thinks that Allbirds will see much higher returns because they "have an AI graphics division?"
I like AI, but seriously, who actually invests on this basis? Where is the critical thinking? I don't feel sympathy for any investor that gets rug pulled on this stuff.
A lot of it is prisoner's dilemma and its variants. As an investor, even if you think a particular AI shift is bullshit, you have to take into account the possibility that other investors won't - and at that point you might miss out on the gains.
This is one of the reasons stock market is so disconnected from reality.
But wouldn’t it be a failure if it’s bullshit and therefore no gains?
its greater fool theory https://moneyterms.co.uk/greater-fool/
Allbirds sold their shoe business and is basically a SPAC that spun up an AI company under the existing publicly traded company. For all intents and purposes it’s just a new AI company.
[delayed]
It will be challenging for non-tech people to present themselves as tech.
Especially those who have not implemented software in businesses trying to suddenly boil the ocean with AI.
AI remains a great step forward to help businesses benefit from technology, with more than one competency around the table.