FADING THE FADS The Market's Oldest Trick — From 'Tronics' to GPU-as-a-Service
Fading the Fads:
The Market's Oldest Trick — From 'Tronics' to GPU-as-a-Service
Wednesday, Allbirds, Inc (BIRD) announced a pivot from its once trendy shoe-business to an AI company.
They’re selling their namesake brand and footware assets for $39M while simultaneously securing a $50M convert financing facility to fund the pivot and rebrand as (don’t laugh): “NewBird AI”, a GPU-as-a-Service and AI-native cloud solutions provider.
In so doing they join other companies like Nebius, Long Island Iced Tea Co, Eastman Kodak, Overstock, and others in trying to extract value from a name change.
It doesn’t tend to work but marks the times.
We took the time to dive into a few other historical examples, we titled "Fading the Fads"
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