This Week in Startups Wild news week, Bird overstates revenue, Chinese startups look to rebrand + WLITF | E1613
Nov 16, 2022
The hosts tackle a wild news week that spans from Russia's missile saga to the ongoing challenges of journalism. They dive into Bird's troubling overstated revenues and the implications for the scooter-sharing market. The conversation shifts to the identity crisis of Chinese startups expanding globally and their rebranding efforts, particularly discussing Shein's dual identity. Finally, advancements in retail robotics, like the Tally robot, showcase how tech continues to reshape the retail landscape.
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Softball Interview
- The New York Times published a softball interview with SBF, omitting his political donations.
- The interview framed SBF's actions as bad investments, ignoring the potential fraud.
Journalistic Integrity
- Journalists must be self-aware and consider their biases when reporting.
- Objectivity and fairness are crucial, especially in today's media environment.
Bird's Downfall
- Bird Global's stock plummeted by 97%, with its market cap at $73.6 million.
- The company's unit economics, including scooter costs and maintenance, never worked.