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And that’s basically it!
Pivot seems inadequate as a term here. You could pivot from making shoes to work gloves.
But from shoes to AI infrastructure? That’s more “my company failed, and using the same name and corporate structure is a way to save money on my unrelated business idea”.
And any left over funds.
No no they got new idiots to throw new cash at them. Around 50 million for the equipment.
This is reusing the warehouse like they are a "gig worker" renting out their airbnb.
Totally logical and not worrying.
They are so desperately trying to make this AI crap be profitable.
The warning signs of the current stock market can't flash any brighter, I'm afraid. It's a complete casino now, again. Only this time the actual mafia runs the show.
The one pair of shoes I enjoyed wearing at work...
Anybody make one of those Tesla "I bought these before they went evil" bumper stickers for shoes?
This reminds me of Long Blockchain
Is this the pets dot-com of the slop era?
Probably more like the subprime mortgage era.
I loved their shoes back in the day, but they completely failed to turn the initial success into a proper footwear company. Sad story. Even worse it will end as some kind of AI crap.