104
Allbirds was founded with a focus on environmental conservation. Its pivot to AI is leaving that behind.
(www.businessinsider.com)
"We did it, Patrick! We made a technological breakthrough!"
A place for all those who loathe AI to discuss things, post articles, and ridicule the AI hype. Proud supporter of working people. And proud booer of SXSW 2024.
AI, in this case, refers to LLMs, GPT technology, and anything listed as "AI" meant to increase market valuations.
Well, it appears that they acquired their capital as a company focused on a moral cause that people were excited to get behind/support and quality products people wanted to buy. It also appears as though once they achieved the goal of capital acquisition to a certain level (or they saw diminishing returns in the shoe business), they completely shifted their focus towards maximizing shareholder value with their acquired capital, and this would also appear to mean abandoning the customer base that put them there: people who bought the shoes that they sold.
It's an interesting example. It could, in theory, serve as a template: champion a moral cause to secure capital and abandon said cause after reaching the financial goal.
It could also be fair to say that they saw no future in the shoe business and the pivot was out of necessity. I would have to dig deeper, but this is as far as I go today, thanks for your time. Peace.