Stripe - overvalued and đ© vesting Palantir - weak revenue growth and underperforming stock. Had 19 years to figure out how to be profitable, 2 more years and it can legally drink Instacart - employees are bagholding onto worthless paper Twitter - absolute shitshow especially with the Elon takeover Netflix - no longer paying top of market, laying off people, hyper-competitive streaming market (CNN+ was peak đ€Ą show) Roblox - fizzled out after IPO; tried to pass off a kidsâ platform as a metaverse play Coinbase - winter is here OpenSea - see Coinbase Snap - see latest earnings report AirBnB - people prefer to use hotels now, stock is unlikely to recover. Limited hiring since Covid layoffs Snowflake - turns out having a negative PE ratio is bad for the stock Uber/Lyft - at this point everyone expects the rideshare duopoly to collapse soon. Too risky to join Meta - burning tens of billions on something no one wanted JUUL - about to be regulated out of existence Wish - complete implosion, seems like no one wanted to buy crappy Chinese knockoffs once the massive ad spend tapered off Robinhood - every other brokerage has no fees either now. Zero unique selling point. Upstart - imploded. Only worked with low cost of capital. ML algorithms didnât prove to be any more effective than crude credit scores now that weâre out of the easy money era. Carvana - imploded DoorDash / food delivery apps: fked after Covid era faded away. Affirm - Bleeding money. BNPL model doesnât work + even within BNPL they lost a lot of ground to AfterPay and to a lesser extent Klarna Rivian - whatever the car equivalent of vaporware is [edit, not as certain about this. See comments for discussion] Peloton - covid fad Gopuff/Gorillas/Jokr - model just doesnât work. Going out of business OpenDoor - imploded Compass - shitshow Bolt - Went from 4 day work week to 0 day work week for employees Fast - that was fast Better - better hope you donât get invited to that zoom call with the CEO Starting to think it would have been easier to list companies that are still going strong⊠let me know if I missed out on any obvious ones. Edit: For midwits saying âuhh ackhyually everyone is down in a bear marketâ â no shit. Everyone is down, but some companies were always âswimming nakedâ â relying on cheap money, VC subsidies, and unsustainable growth-oriented business models. Now that the tide has gone down we can see who these are.
Disagree for Two Sigma, and Roblox
Meta/Netflix have potential, next few years for them will be crucial imo
As mentioned two sigma isnât imploding unlike the others. It just remained stagnant while other HFTs pulled far ahead comp-wise. No longer spoken of with reverence.
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Roblox still good. Otherwise not a bad list. A few years ago these companies had people obsessed with them.
Why? I never played, I am just familiar with kids changing tastes.
They capitalize on that. Kids change tastes, but Roblox is a video game disguised as a platform. The kids hop around ON Roblox. The kids that normally have 2 week attention spans max will play on Roblox for years.
Before FAANG rose to fame, there was Intel, Cisco, Oracle, IBM, HP, and many other great but legacy companies..... that are slowly fading away...
Sun Microsystems, Yahoo, MicrosoftâŠ
lol take Microsoft off that list. We had the most valuable stock most recently. Google is also on their way down.
People should forget Fast
How fast?
Why?
Whoâs paying top dollar these days? đž
HFTs mainly
HFTs?
JUULâŠ
Basically most late-stage companies
Spotify
Always paid like shit
Really? Was thinking to pivot to a PM position there
+1
Y'all are going to get bought is my guess
Honestly surprised no one has