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sabreW4K3@lazysoci.al to Technology@beehaw.orgEnglish · 13 hours ago

Allbirds shares soar 580% after pivot from shoes to AI

www.bbc.co.uk

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Allbirds shares soar 580% after pivot from shoes to AI

www.bbc.co.uk

sabreW4K3@lazysoci.al to Technology@beehaw.orgEnglish · 13 hours ago
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The company is selling off its shoe brand as it plans to shift to providing technology infrastructure.
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  • etherphon@piefed.world
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    9 hours ago

    It’s terrible that we have to live in two different realities, the market reality and then the one the rest of us all have to live in.

    • stealth_cookies@lemmy.ca
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      8 hours ago

      I once made a CEO a bit unhappy by describing the stock market as socially acceptable gambling, every day I’m proven more and more right.

  • crunchy@lemmy.dbzer0.com
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    11 hours ago

    Damn, the market is an idiot.

  • Powderhorn@beehaw.org
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    11 hours ago

    What unique thing does a shoe company bring to “AI”?

    • TehPers@beehaw.org
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      2 hours ago

      They’re able to hit the ground running.

      • Powderhorn@beehaw.org
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        2 hours ago

        🙄

    • 01011@monero.town
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      2 hours ago

      Easy money for grifters to help themselves to.

    • PabloSexcrowbar@piefed.social
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      7 hours ago

      They’ve already got boots on the ground.

    • B0rax@feddit.org
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      6 hours ago

      They are already 2 steps ahead.

    • anotherandrew@lemmy.mixdown.ca
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      11 hours ago

      Bird-brained investors?

    • doleo
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      11 hours ago

      Lack of sole?

  • Hirom@beehaw.org
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    12 hours ago

    That’s a hard pivot. And building more AI infrastructure is a bad idea. But they might make some short term money given the AI hype.

    • belated_frog_pants@beehaw.org
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      6 hours ago

      Thats all they care about

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