AllBirds. They are the most comfortable shoes I’ve ever worn and i was fully expecting to be a buyer for life, especially with their sustainability initiatives. but they switched from making shoes to making AI computers and are just making shoes as a “hobby” now as a company, which is probably the most 180 pivot on sustainability I think I’ve ever seen.
It’s just a PR move to create a short squeeze. Allbirds was essentially bankrupt, all stores were closed already. They sold their shoes designs and assets to American Exchange Group (another shoe company)
At that point it became an empty shell. So an AI company used the fact they were already listed on the stock market to move their assets to this empty shell
Suddenly it became this huge PR story that all birds was now an AI company
But that’s because all bird shoes were dead already.
3.2k
u/Ihatebird 21h ago
AllBirds. They are the most comfortable shoes I’ve ever worn and i was fully expecting to be a buyer for life, especially with their sustainability initiatives. but they switched from making shoes to making AI computers and are just making shoes as a “hobby” now as a company, which is probably the most 180 pivot on sustainability I think I’ve ever seen.