Biggest loser of 2020
Candidates are 1. Airbnb. They overreacted during the pandemic, sold their equity at a fire sale, laid off 25% of their employees and then rehired some of them a month later, and didn’t go IPO when they could at a hefty valuation. Now they are trying to go IPO in a middle of a pandemic when traveling is prohibited. 2. Lyft. Revenue dropped 80%. Massive layoffs. No other business line insight. No light at the end of the tunnel except acquisition like postmates. 3. Uber. Massive layoffs and outsourcing of engineering departments to India. Some tech bros are still left and defending the company. SoftBank’s Masayoshi said it’s biggest loser in their fund after Wework. Also the information reported that they are trying to sell their ATG because its years behind their competitors after spending $2.5B on it. 4. Juul. Valuation dropped by 50% when health officials reported teenagers were getting cancer. Enough said.
Livenation should be in the running as well
Stocks doing not that bad though.
Can we make this a pool for stock investment lol 😂
BlueJeans. Classic example of sticking with status quo because it is the cash cow. They missed so much opportunities. No innovative ideas, minimal changes to their product to adapt.
BOEING
Airbnb's business has at least recovered to pre covid levels and they only raised some money at a poor valuation, which they'll more than make up for in their IPO. Uber is outsourcing to cut costs and is diversified enough even though rideshare is fkd. Lyft is unfortunately truly fkd with nowhere to go and living on a prayer Juul was always a net negative and not a tech company, so their inclusion in this list beckons the question of why luxury cruise companies and airlines weren't included now that we're at it
We appreciate your honesty about the future of Lyft. Stay strong
Boeing
Uber, if you consider the pre ipo sentiment high to the condition today. Brings back memories of the posts from Uber folks pre ipo.
I remember about 2 years ago the Uber recruiter told me I would regret rejecting their offer because their future IPO would make Uber a $150B company.
Manager who was convincing me to reject other offer and join Uber : we are going to be a bigger IPO than Facebook and will be trillion market cap company soon.
Restaurant owners
airlines and travel industry in general
Airbnb just got caught unfortunately. Buy Uber deserved it with their continuous pathetic performance and management all through.