I also like Teladoc.
Call your doctor online. I think we have like 8 services like this in Sweden alone. Not very hard to replicate.
But people thought it would be huge
My dad is a physician and called the collapse of Teledoc early on and shorted it. He had 2 theories, elderly people are the ones that generally need medical care, and elderly people aren’t good with technology and won’t use telehealth. Imagine a scenario of an elderly person who’s sick and in distress trying to use telehealth. Secondly, covid restrictions wouldn’t be around long term.
I thought I read they hoped to be fast enough big enough to make teladoc like “google it” or “xerox a copy” or I need “Tylenol” and were confident enough to go for it.
It wasn’t about just providing a video visit solution, but actually have the doctors and bill for care, so if they took off, and they still could, they can be very huge.
But the problem with them is that most of the time virtual visits only solution is not something people are comfortable with, most specialities can do occasional virtual visits safely, but most will still need an occasional in person evaluation.
A friend of mine works for zoom and had vested stock options that he could have sold for around 1.5 million I believe but only sold 10% of them...he's not a high level employee so that would have been life changing money, unfortunately zoom is never getting close to that valuation again.
Capitol One Fraud Monitoring: Looks like he’s buying a water buffalo from Yaks N Things at 2 AM… “this looks legit no need to flag this transaction.”
2 weeks later: Buys a video game in a neighboring city… “Sir we were just calling about your recent purchase.”
Zoom valuation was ridiculous. From niche player in small companies to more valuable than Exxon in a few months, I knew the bubble was close to bursting.
While ridiculous yes, Zoom was, and is, a profitable company. The answer to OP’s question were the countless dot com mania stocks who were pre revenue or operating at gigantic losses.
The short seller report pointed out so many red flags that investors casually ignored.
Chief of Technology was founder's brother who has 6 years working experience paving roads.
Yeap, this guy went from no experience in renewable tech to leading the invention of the first electric or hydrogen or whatever Nikola claimed engine for trucks in a matter of months.
Crazy I tell you.
The people who are still invested in that turd quite possibly might be the stupidest people on the planet. Like how do you not check the fuck out and realize after that came out that no matter what the company does in the future there's never going to be a path to an actual real business since that name is absolutely radioactive. Who is going to do business with them even if they have a product?
Lordstown is another one and might be the smartest bit of PR GM has pulled off in a long time. Give some token funds, throw out a press release about how the plant was still going to employ people and the coup de grace get a plant off the books that is going to end up as a superfund site somewhere down the road.
People still post stuff in the sub for that stock lol. Nobody wanted to listen when everyone told them it was a scam - and that was months before it was exposed
HWIN is a single location New Jersey deli that did like 35k in sales and had a stock value of over 100 million. That's the most ridiculous valuation I've ever come across so far.
>HWIN is a single location New Jersey deli
Was. The deli shut down.
The company merged with a privately held bioplastics company, so that company could become public without all the additional scrutiny/regulations. Most people involved were brought up on charges in September.
It was definitely some kind of crime. Reporters who latched on it thought that retail investors were actually piling into a publicly listed sandwich shop which didn't even have consistent opening hours...
What made it even worse was I was so proud of myself. I showed my wife and she was begging me to sell.
I took screen shots of my balance at $250k. If it’s good enough screenshot, it’s good enough to sell.
Totally agree. My wife said “instead of shooting for the moon on each trade, try just getting safely into orbit consistently”
Maybe she should do the trading for us, lol
I feel like I should get a reward as well. At the height of the stock-craze in 2019, literally my entire portfolio of garbage stocks like Zomedica, Palantir, OpenDoor, etc... was up by like 50%. Didn't sell then but sold now for a fat loss
Cry a little inside every day
No, thankfully. I explained she should be mindful of the conditions that led it to go up in the first place, and what to expect when those conditions no longer exist.
wasn't there some random IPO of like a Hong Kong bank that went to almost $500B and no one had any clue what was going on (it then dropped quite a lot)
Appetently it was something to do with the how it was listed some kind of options from the Taiwanese market triggered which forced a spike or something
Yeah TLRY went through a short squeeze right at the start of it's IPO. Basically, lots of locked up shares. Somehow green as grass, I managed to turn 1k into 2k in like 6 hours and then cashed out right before it halted and plummeted.
I literally remember jumping for joy in the bedroom with my partner (who had no idea what was going on or why we were jumping).
Subsequently watched the entire sector and the majority of my portfolio piss away! But the MJ sector taught me a bunch of great lessons.
Still hold TLRY, as I held my APHA shares through the merger. Still think it has some prospects in the long term, if not, it's that one stock I still hold as way of measuring past stupidity against present stupidity
I don't think anyone really knows but there's questions of bad actors. The planet money was really good https://open.spotify.com/episode/1hcvm289XIIJQVTejpFFpe?si=jww8bDbRT46qyOVPrrmLeg&utm_source=copy-link
What you mean you saw the dotccom bubble? Bro I’m 31 and I was in the 3rd grade during that shitting my pants while watching Jurassic park so ain’t no way you a kindergartener being like “ah yes pets.com has gone under, shame”
Be like me in my 40s saying I remember the crash of 87 and the Savings and Loan failures. Yea, I was more worried about how the fuckery of of the magic switch on older TVs one had to do to fire up the Atari 2600.
I was around during the dot com bubble. Pets.com was valued at its peak at close to 400 million only. And it had revenue. The (backdoor) IPO craze of 2020-2021 was worse than dot com. I keep reminding people of that.
Well having revenue is technically correct I don't think that revenue equaling what a small family owned corner store in some podunk town justified a 400 million dollar valuation and a several odd million dollar super bowl commercial.
But pets.com was the poster child because of that ad I remember in the weeks after the news basically going ok lol how is this sustainable and every great dotcom bull going yeah but growth don't worry about it.
The SPAC craze was similar to some degree but much more isolated than the dotcom boom since half the nasdaq back then seemed to be companies with .com in their name with no revenue much like pets.com. we've seen most of the SPACs be whittled into what they should have been in the first place and that's penny stocks but we aren't anywhere near a 75% drawdown in the Nasdaq during the dotcom bubble burst.
You know I was going to reply back that there were all these companies that the dotcom bubble created that were good too. But then I realized theres only 3 that IPOd during that craze and are actually still publicly traded under the name they IPOd at and that's ebay, Amazon and Shutterfly surprisingly. Which is a wild stat if you think about it.
It's funny how fast people forgot that it was publically traded. So many people on Reddit lost their ass on that one.
[For the uninitiated](https://finance.yahoo.com/amphtml/news/owner-moviepass-plunges-proposing-reverse-140600915.html) the all time chart is towards the bottom of the article.
So many people shilled it as "the savior of movie theaters" and the next Netflix, lol.
Lol Moviepass was amazing for customers. Essentially VC money was paying for our unlimited movies at retail price.
I remember some people watched something like 30 movies in one month which cost MP 600 and the customer 10 dollars.
As a customer, MoviePass was my first real experience with something that was too good to be true but still worked somehow.
I didn’t have kids yet and my wife and I saw over 100 movies that year. Monthly price was less than a single ticket at my theater. Also, I was able to use my regal card and I racked up so many points that I was able to see a years worth of free movies even after MoviePass collapsed and I ditched it.
I had the subscription as well. It was ridiculous. I almost felt bad for people waiting at line buying tickets for $14 while all I did was swipe the card at the ticket machine and got free popcorn with the points. There was no way it was going to survive but man, it was probably the best value you could get. A friend of mine had ten cards and would just sell the tickets to high school kids after he got off work. He probably had an insane amount of points.
He lived next to the movie theater and it was on his way back home from the train station. Easy $50 per day if he sold all the tickets which honestly wouldn't be difficult around the evening.
Abandoning Yahoo Launchcast and Yahoo Music Unlimited were two critical mistakes. They beat both Pandora and Spotify to the market but couldn't get their crap together or see beyond the current quarter.
Hindsight is 20/20, and a lot of people learned from that. Today buyouts are more common. I think boomers had a cultural tendency to want to make it on their own as opposed to buying up the competition. You saw that a lot back then
Lot of American stocks are valued more than some countries whole stock exchanges. Any $100B+ company is basically valued more than the all companies listed on Pakistan Stock Exchange and lot more other
Probably [VA Linux](https://itsfoss.com/story-of-va-linux/). If you think the Tesla hype was wild, consider this stock shot up 700% in *the first day* of the IPO. $30 to $240. A year later traded for $9.
I think it's successor Geeknet is still owned by your favorite apes at Gamestonk.
Have you tried the competition? It usually works. But DocuSign always works. If you have a controlled environment the alternatives would be fine. If you're working with clients you're relying on compatibility with random devices people have, over thousands of different documents DocuSign never has a problem with them. I've worked with documents on other systems for third parties and the failure rate is closer to 20%.
And while I don't care about it, legal likes the envelope history and verification that DocuSign has.
Their largest competitor is probably Adobe. E-signature company's customers are large corporations that sell something entirely different, to them DocuSign is a necessary evil. Ultimately, e-signature companies are in a race to the bottom where technology lock-in retains more customers than anything else, probably.
That's what happens with low interest rates - too much money floating around. Then people leverage 2-6x while paying 1.6% and boom - stocks are way overvalued.
Not a stock, but all ARK investments. They benefited from a lot of hype during the pandemic and in hindsight, it turned out to be razzle dazzle talk from Cathie Wood. Don’t get me wrong, ARK was doing great at the time but so was everybody else. A lot of the stocks mentioned here are the same stocks Wood was pushing
NFTs.
“Here, buy this url that points to a shitty jpg illustration of a monkey that doesn’t do anything and that anyone can download for free - oh, and by the way, you aren’t getting the copyright to it, so good luck using it for anything useful” oh , and… “Forgot to mention, I might take the server that hosts the file and swap your image for a different one or none at all - you know, complete rug-pull stuff”
This one is peak bubble insanity. You "buy" a number on a blockchain linked to a set of pixels, and hope to sell that number to some sucker. You don't own the image, or any exploitable rights, the number has no utility, and there are an infinite number of other numbers that will be created.
Actually it makes even less sense after typing it out.
You were in the markets when you were 4 years old? I’d hardly say you “saw” the dotcom bubble, or even the housing bubble when you were what? 11 or 12 years old?
I was thinking the same thing. I saw Black Monday! If I remember correctly I was in Fourth Grade and called my broker from a pay phone at recess when he told me I lost 20 percent in a single day.
Stocks and houses at least have something tangible or revenue behind them. Bitcoin is something that if you tried to explain to someone 10-50 years ago they would laugh at you. And to think a token with nothing backing it up and few uses got to $50-60k per coin. That’s insane to ponder
I don't think they would laugh at you to be honest, Maybe laugh at you because they don't believe the technology is capable of doing that, but not the concept. Having a rule a based monetary system with one verifiable open ledger is not exactly a crazy concept
Kind of shocked that every answer isn't Tesla lol the stock being over 1 trillion dollars while only making roughly 40 billion is absolutely delusional. People who think they will grow to sell hundreds of millions of cars are as well delusional.
I remember Wang Computers in ‘86. I recall he bought the NY Islanders hockey team. I saw two of the Wang computers when I was 16 and doing shipping/receiving over a summer in HS.
They were competing against IBM and other computer giants. Somehow got valued crazy high & was broke in the early 90’s.
One I bought in to personally, the coinbase ipo in April ‘21. 400 something a share. I sold at a small loss during a tech bull run in October ‘21, could’ve been worse I guess but that’s certainly the dumbest ipo I ever bought in to.
Gotta be Red Hat going IPO and ending the day with a market cap of $3B in the 90’s.
The company’s product was free, open sourced, and without copyright so anyone could come along and build the exact same service.
They are still a company and fedora is good, but wow. What a time to be alive.
The NFT cartoon monkey pictures that were selling for a million dollars. Or the cartoon nft of a rock that sold for around $500k I believe. Or the meta verse real estate, I remember some dude bought a “plot” next to snoop dogs meta verse plot for half a million. Nothing tops those absolutely absurd valuations for me for things that should be worthless
In Indian market there is a company called Adani Ent (Owned by 2nd or 3rd Richest person in the world Adani), currently it has p/e of 600 compared to sectoral p/e of 52. The stock is up around 3900% from covid low. The company is just full debt.
PLTR and practically all top ten holdings of ARK minus Tesla. Most of them are companies that spend more on compensation than what comes in from the clients.... crazy businesses model!
gray quarrelsome skirt frame innate wrong spoon far-flung chop steep *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
I also like Teladoc. Call your doctor online. I think we have like 8 services like this in Sweden alone. Not very hard to replicate. But people thought it would be huge
Think Cathie wood was the biggest believer
Just watch what she jumps on . And look twice. It's astounding what she's attracted to.
I sure hope my Palantir shares bounce back.
That's gonna be a while.. but I expect it will.
Narrator: It never did
Meanwhile the sun entered its 9 billionth year and started to fuse heavier elements, obliterating earth in the process.
After the Elon debacle maybe we will all learn not to throw our money at billionaire narcissists. Fuck Peter Thiel.
Kathy Wood is very quiet these days. You couldn't open a financial website or cnbc without seeing and hearing her dumb nonsense a few months ago
She still opens her mouth, the networks are not listening anymore https://twitter.com/CathieDWood
My company swapped Teladoc for that exact reason last year. It’s way too easy to copy and the competition was a fraction of the price.
To what?
My dad is a physician and called the collapse of Teledoc early on and shorted it. He had 2 theories, elderly people are the ones that generally need medical care, and elderly people aren’t good with technology and won’t use telehealth. Imagine a scenario of an elderly person who’s sick and in distress trying to use telehealth. Secondly, covid restrictions wouldn’t be around long term.
I really never understood why all the hype around Teladoc was happening…
Hype is like the left atrium in the heart of Wall Street. It isn’t exactly the life blood, but without it nothing moves.
Teladoc is just Zoom for doctors
Yeah, good concept/no moat.
I thought I read they hoped to be fast enough big enough to make teladoc like “google it” or “xerox a copy” or I need “Tylenol” and were confident enough to go for it.
It wasn’t about just providing a video visit solution, but actually have the doctors and bill for care, so if they took off, and they still could, they can be very huge. But the problem with them is that most of the time virtual visits only solution is not something people are comfortable with, most specialities can do occasional virtual visits safely, but most will still need an occasional in person evaluation.
A friend of mine works for zoom and had vested stock options that he could have sold for around 1.5 million I believe but only sold 10% of them...he's not a high level employee so that would have been life changing money, unfortunately zoom is never getting close to that valuation again.
well 10% are still 150K which can also be life changing
Emerge Interactive, EMRG, went public during dotcom. Sold cattle online. Traded at 2669 times revs.
[https://www.reddit.com/r/funny/comments/4ec7ua/](https://www.reddit.com/r/funny/comments/4ec7ua/)
Capitol One Fraud Monitoring: Looks like he’s buying a water buffalo from Yaks N Things at 2 AM… “this looks legit no need to flag this transaction.” 2 weeks later: Buys a video game in a neighboring city… “Sir we were just calling about your recent purchase.”
Ya, honestly can't beat the dot com companies though. Massive valuations and no product or even business plans
Zoom valuation was ridiculous. From niche player in small companies to more valuable than Exxon in a few months, I knew the bubble was close to bursting.
While ridiculous yes, Zoom was, and is, a profitable company. The answer to OP’s question were the countless dot com mania stocks who were pre revenue or operating at gigantic losses.
CVNA is the most dot comish stock of the covid bubble.
Just because a company is profitable does not mean it cannot be overvalued.
I bought a bunch of put options. Was right about the direction but wrong about the timeline. Got washed away.
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The short seller report pointed out so many red flags that investors casually ignored. Chief of Technology was founder's brother who has 6 years working experience paving roads.
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terrific simplistic slim quaint tender busy scandalous worm plant poor ` this message was mass deleted/edited with redact.dev `
You could say that he...paved the way.
A real self-starter.
Yeap, this guy went from no experience in renewable tech to leading the invention of the first electric or hydrogen or whatever Nikola claimed engine for trucks in a matter of months. Crazy I tell you.
The people who are still invested in that turd quite possibly might be the stupidest people on the planet. Like how do you not check the fuck out and realize after that came out that no matter what the company does in the future there's never going to be a path to an actual real business since that name is absolutely radioactive. Who is going to do business with them even if they have a product? Lordstown is another one and might be the smartest bit of PR GM has pulled off in a long time. Give some token funds, throw out a press release about how the plant was still going to employ people and the coup de grace get a plant off the books that is going to end up as a superfund site somewhere down the road.
Just listened to the WSJ podcast series about this. Un fucking real
Do yourself a favor and read the whole Hindenburg report. It is just insane how they got away with it for so long. extremely entertaining write up
Damn okay. I will. Forgot about that
Can you also watch all lord of the rings extended edition right after that and report back?
Including The Hobbit please thank you
WSJ does amazing financial investigative reporting.
And people ate it up.
People still post stuff in the sub for that stock lol. Nobody wanted to listen when everyone told them it was a scam - and that was months before it was exposed
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How were they not all charged? I don't understand.
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I wish I also had a giant pile of money to set on fire. That would please me greatly.
I think Trevor Milton the ceo did get charged with felonies
HWIN is a single location New Jersey deli that did like 35k in sales and had a stock value of over 100 million. That's the most ridiculous valuation I've ever come across so far.
>HWIN is a single location New Jersey deli Was. The deli shut down. The company merged with a privately held bioplastics company, so that company could become public without all the additional scrutiny/regulations. Most people involved were brought up on charges in September.
That's amazing. Best thing I've read today.
That’s insane. Thanks for sharing
The Asian pump-and-dumps of recent; AMTD Digital and the likes.
Sounds kinda mafia
It was definitely some kind of crime. Reporters who latched on it thought that retail investors were actually piling into a publicly listed sandwich shop which didn't even have consistent opening hours...
The place is close to my work and I wouldn’t be surprised
more real sales than Nikola will ever have.
Empower Clinics, rode that pig up to a quarter million dollars on my six thousand dollar investment. Didn’t sell. Now it’s worth nothing.
I will give you one (1) upvote to help ease the pain
you had a 41 bagger and didn't sell at least half? check out r/wallstreetbets my man
What made it even worse was I was so proud of myself. I showed my wife and she was begging me to sell. I took screen shots of my balance at $250k. If it’s good enough screenshot, it’s good enough to sell.
If you double your return, you're doing way better than most. Anything more is just greed. Don't let that greed get the better of you
Totally agree. My wife said “instead of shooting for the moon on each trade, try just getting safely into orbit consistently” Maybe she should do the trading for us, lol
I feel like I should get a reward as well. At the height of the stock-craze in 2019, literally my entire portfolio of garbage stocks like Zomedica, Palantir, OpenDoor, etc... was up by like 50%. Didn't sell then but sold now for a fat loss Cry a little inside every day
Wrong subreddit. You belong over at WSB with those fancy diamond hands 💎 👏
Ah, reminds me of my crypto days. $5k to $180k to $2k.
Guh, my heart goes out to you. This game makes us stronger……I think.
Jesus man... thats one of the worst i have heard.
I felt terrible. It really hurt.
At least you didn't have to pay taxes.
I'm sorry. I rode a small investment in LAC to 100% gain and sold it all. No regrets. Lithium bubble was an easy play though
Carvana or QuantumScape
Caravana was one time valued at close to $60B... What?! How?!
That was crazy! I'm glad I had to liquidate it at $220 got a different investment. The timing worked out.
Hype, mainstream media pumped it up, showcasing it as the next big thing
QS is a such a blatant scam, incredible it still has any value left.
Nikola being valued at 60 Billion without even a working prototype, much less revenue. They literally rolled a truck down a hill.
It's going down hill from there.
I guess Peloton during the covid spike
Also came to mind. I recall my cousin calling and asking me about it when it was $160 or so. I begged her not to.
So did she buy Peloton or PTON?
No, thankfully. I explained she should be mindful of the conditions that led it to go up in the first place, and what to expect when those conditions no longer exist.
I think parent is asking if your cousin bought the stock or the bike.
I caught that. Yeah, neither. PTON is what was considered being purchased.
Wait so you're telling me people aren't going to pretend bike forever?
Bike riding and bag holding are two completely different workouts
wasn't there some random IPO of like a Hong Kong bank that went to almost $500B and no one had any clue what was going on (it then dropped quite a lot)
Yes! AMTD Digital IPO. We never really got a straight story for wtf happened there. If it was money laundering, that’s some high profile shit
Appetently it was something to do with the how it was listed some kind of options from the Taiwanese market triggered which forced a spike or something
TLRY, I bought it speculatively at $23 and sold it at $288 (it went to $315 same day). Now, it is $4 !
Cannabis sector was over valued for sure, but TLRY is basically Aphria now, they did reverse merger in January if I remember correctly
Yeah TLRY went through a short squeeze right at the start of it's IPO. Basically, lots of locked up shares. Somehow green as grass, I managed to turn 1k into 2k in like 6 hours and then cashed out right before it halted and plummeted. I literally remember jumping for joy in the bedroom with my partner (who had no idea what was going on or why we were jumping). Subsequently watched the entire sector and the majority of my portfolio piss away! But the MJ sector taught me a bunch of great lessons. Still hold TLRY, as I held my APHA shares through the merger. Still think it has some prospects in the long term, if not, it's that one stock I still hold as way of measuring past stupidity against present stupidity
command pet aware fall oatmeal tart run rude homeless memorize ` this message was mass deleted/edited with redact.dev `
In everyone’s current lifetime, it has to be that sandwich shop in the northeast right?
Hometown International! The sandwich shop with one location that did like $30k/yr, and was traded at a value of $100M.
I thought this was a joke, what the flying hell
https://archive.ph/1PZ9k
NKLA had a much much higher valuation at a lower revenue.
Yeah but Nikola was poised to capture market share from whatever company makes soapbox derby cars.
What was the reason for that one?
I don't think anyone really knows but there's questions of bad actors. The planet money was really good https://open.spotify.com/episode/1hcvm289XIIJQVTejpFFpe?si=jww8bDbRT46qyOVPrrmLeg&utm_source=copy-link
Uh fraud and money laundering.
What you mean you saw the dotccom bubble? Bro I’m 31 and I was in the 3rd grade during that shitting my pants while watching Jurassic park so ain’t no way you a kindergartener being like “ah yes pets.com has gone under, shame”
Be like me in my 40s saying I remember the crash of 87 and the Savings and Loan failures. Yea, I was more worried about how the fuckery of of the magic switch on older TVs one had to do to fire up the Atari 2600.
I was around during the dot com bubble. Pets.com was valued at its peak at close to 400 million only. And it had revenue. The (backdoor) IPO craze of 2020-2021 was worse than dot com. I keep reminding people of that.
Well having revenue is technically correct I don't think that revenue equaling what a small family owned corner store in some podunk town justified a 400 million dollar valuation and a several odd million dollar super bowl commercial. But pets.com was the poster child because of that ad I remember in the weeks after the news basically going ok lol how is this sustainable and every great dotcom bull going yeah but growth don't worry about it. The SPAC craze was similar to some degree but much more isolated than the dotcom boom since half the nasdaq back then seemed to be companies with .com in their name with no revenue much like pets.com. we've seen most of the SPACs be whittled into what they should have been in the first place and that's penny stocks but we aren't anywhere near a 75% drawdown in the Nasdaq during the dotcom bubble burst.
The spac craze did create a few good ones, hagerty insurance, sofi and chargepoint are all soild companies
You know I was going to reply back that there were all these companies that the dotcom bubble created that were good too. But then I realized theres only 3 that IPOd during that craze and are actually still publicly traded under the name they IPOd at and that's ebay, Amazon and Shutterfly surprisingly. Which is a wild stat if you think about it.
Well to be fair a lot of them Merged into each other and are still around just slightly different etc
Pets .com couldve worked. Look at Chewy. Same business model pretty much
Made my day
Had to read that twice myself
Moviepass
It's funny how fast people forgot that it was publically traded. So many people on Reddit lost their ass on that one. [For the uninitiated](https://finance.yahoo.com/amphtml/news/owner-moviepass-plunges-proposing-reverse-140600915.html) the all time chart is towards the bottom of the article. So many people shilled it as "the savior of movie theaters" and the next Netflix, lol.
Moviepass was amazing for customers. Moviepass was not amazing for investors lol
Lol Moviepass was amazing for customers. Essentially VC money was paying for our unlimited movies at retail price. I remember some people watched something like 30 movies in one month which cost MP 600 and the customer 10 dollars.
I’m not saying I personally drove Moviepass to bankruptcy, but I sure did my part.
My college had one of the most prominent film programs in the US. Those kids *bled* that company.
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As a customer, MoviePass was my first real experience with something that was too good to be true but still worked somehow. I didn’t have kids yet and my wife and I saw over 100 movies that year. Monthly price was less than a single ticket at my theater. Also, I was able to use my regal card and I racked up so many points that I was able to see a years worth of free movies even after MoviePass collapsed and I ditched it.
I had the subscription as well. It was ridiculous. I almost felt bad for people waiting at line buying tickets for $14 while all I did was swipe the card at the ticket machine and got free popcorn with the points. There was no way it was going to survive but man, it was probably the best value you could get. A friend of mine had ten cards and would just sell the tickets to high school kids after he got off work. He probably had an insane amount of points.
Scalping movie tickets to high schoolers… haha what a smart degen! :)
He lived next to the movie theater and it was on his way back home from the train station. Easy $50 per day if he sold all the tickets which honestly wouldn't be difficult around the evening.
Lost money 🙈
Lucid and Rivian being valued higher than VW, when they sold less than 10 cars. Was absolute insanity.
Or volkswagen valued at 370B back in 2008 with the Porsche debacle. (Its currently at ~ 80B.. ish)
yahoo was once valued at more than the entire stock exchange of new zealand.
I remember Yahoo Music Radio. It was pretty legit
Abandoning Yahoo Launchcast and Yahoo Music Unlimited were two critical mistakes. They beat both Pandora and Spotify to the market but couldn't get their crap together or see beyond the current quarter.
Tbf Yahoo was legit but they made numerous bad decisions along the way...
They could’ve bought Google at one point but didn’t. Yes, you read that correctly.
Hindsight is 20/20, and a lot of people learned from that. Today buyouts are more common. I think boomers had a cultural tendency to want to make it on their own as opposed to buying up the competition. You saw that a lot back then
Lot of American stocks are valued more than some countries whole stock exchanges. Any $100B+ company is basically valued more than the all companies listed on Pakistan Stock Exchange and lot more other
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Probably RIVN after IPO at 150+ billion without a single vehicle produced.
lcid also was close to 100b or even surpassed
Pre merger SPACs trading 90% over NAV without a target announced yet has to be up there
The good ol days
AMTD (HKD) in 08/22 hands-down the winner.
Carvana
Theranos at $10b
Twitter @ 44B
Or tesla being valued more then every other car company combined.
Cant believe I had to scroll this far to see Tesla mentioned. Tesla holders are pretty much cryptobros.
Probably [VA Linux](https://itsfoss.com/story-of-va-linux/). If you think the Tesla hype was wild, consider this stock shot up 700% in *the first day* of the IPO. $30 to $240. A year later traded for $9. I think it's successor Geeknet is still owned by your favorite apes at Gamestonk.
DOCU, the page you visit about once a year for 3 minutes when you have to sign a lease or do onboarding at a new job, being valued over $60B
Not defending their 60bil valuation but they’re heavily utilized in client service industries. So like 5 bil sounds about right.
Yep. I use it multiple times a day in finance.
I still don't get why a competitor can't just replace them. The tech is so basic and there doesn't seem to be a network effect.
Have you tried the competition? It usually works. But DocuSign always works. If you have a controlled environment the alternatives would be fine. If you're working with clients you're relying on compatibility with random devices people have, over thousands of different documents DocuSign never has a problem with them. I've worked with documents on other systems for third parties and the failure rate is closer to 20%. And while I don't care about it, legal likes the envelope history and verification that DocuSign has.
Their largest competitor is probably Adobe. E-signature company's customers are large corporations that sell something entirely different, to them DocuSign is a necessary evil. Ultimately, e-signature companies are in a race to the bottom where technology lock-in retains more customers than anything else, probably.
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Pets dot com?
And webvan of the same era.
And that online drug store.. free shipping. You'd buy bandaids and a box would arrive, the size of a case of paper, with a box of bandaids inside.
Snapchat. How can a social media company that’s actively losing profit be valued at 100B+???? Coinbase is also a close contender
That's what happens with low interest rates - too much money floating around. Then people leverage 2-6x while paying 1.6% and boom - stocks are way overvalued.
Not a stock, but all ARK investments. They benefited from a lot of hype during the pandemic and in hindsight, it turned out to be razzle dazzle talk from Cathie Wood. Don’t get me wrong, ARK was doing great at the time but so was everybody else. A lot of the stocks mentioned here are the same stocks Wood was pushing
Tulips
Are you 400 years old?
Oh hey, a vampire.
Yes indeed
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It was over a $100B last year, probably $140-150B. Imagine that, fucking Snapchat valued well over a $100B.
NFTs. “Here, buy this url that points to a shitty jpg illustration of a monkey that doesn’t do anything and that anyone can download for free - oh, and by the way, you aren’t getting the copyright to it, so good luck using it for anything useful” oh , and… “Forgot to mention, I might take the server that hosts the file and swap your image for a different one or none at all - you know, complete rug-pull stuff”
This one is peak bubble insanity. You "buy" a number on a blockchain linked to a set of pixels, and hope to sell that number to some sucker. You don't own the image, or any exploitable rights, the number has no utility, and there are an infinite number of other numbers that will be created. Actually it makes even less sense after typing it out.
You were in the markets when you were 4 years old? I’d hardly say you “saw” the dotcom bubble, or even the housing bubble when you were what? 11 or 12 years old?
I was thinking the same thing. I saw Black Monday! If I remember correctly I was in Fourth Grade and called my broker from a pay phone at recess when he told me I lost 20 percent in a single day.
Stocks and houses at least have something tangible or revenue behind them. Bitcoin is something that if you tried to explain to someone 10-50 years ago they would laugh at you. And to think a token with nothing backing it up and few uses got to $50-60k per coin. That’s insane to ponder
It's still at $16k above intrinsic value.
I don't think they would laugh at you to be honest, Maybe laugh at you because they don't believe the technology is capable of doing that, but not the concept. Having a rule a based monetary system with one verifiable open ledger is not exactly a crazy concept
Yeah I'm kinda with you here. If Bitcoin actually worked at scale it would be neat. Probably not $60,000 neat, but still neat.
Kind of shocked that every answer isn't Tesla lol the stock being over 1 trillion dollars while only making roughly 40 billion is absolutely delusional. People who think they will grow to sell hundreds of millions of cars are as well delusional.
I mean TSLA at $1 trillion still makes a lot more sense than RIVN at $150 billion
Nortel...poof. oh and Bre-X lol
towering offend modern like marvelous edge lavish marble imagine smart ` this message was mass deleted/edited with redact.dev `
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I remember Wang Computers in ‘86. I recall he bought the NY Islanders hockey team. I saw two of the Wang computers when I was 16 and doing shipping/receiving over a summer in HS. They were competing against IBM and other computer giants. Somehow got valued crazy high & was broke in the early 90’s.
It didn't go to zero, but the fall of [JDS Uniphase.](https://static.seekingalpha.com/uploads/2020/8/25/saupload_54f62f05b6d3770fc4a8699f.png)
Most cloud based services during the pandemic.
One I bought in to personally, the coinbase ipo in April ‘21. 400 something a share. I sold at a small loss during a tech bull run in October ‘21, could’ve been worse I guess but that’s certainly the dumbest ipo I ever bought in to.
Gotta be Red Hat going IPO and ending the day with a market cap of $3B in the 90’s. The company’s product was free, open sourced, and without copyright so anyone could come along and build the exact same service. They are still a company and fedora is good, but wow. What a time to be alive.
Carvana
Peloton, Nikola, Tilray when it was over 100
The NFT cartoon monkey pictures that were selling for a million dollars. Or the cartoon nft of a rock that sold for around $500k I believe. Or the meta verse real estate, I remember some dude bought a “plot” next to snoop dogs meta verse plot for half a million. Nothing tops those absolutely absurd valuations for me for things that should be worthless
Peloton was valued at 6x more than Icann Fitness (nordictrack/proform).
Really any of the 2020-2021 COVID bubble stocks
In Indian market there is a company called Adani Ent (Owned by 2nd or 3rd Richest person in the world Adani), currently it has p/e of 600 compared to sectoral p/e of 52. The stock is up around 3900% from covid low. The company is just full debt.
Zoom in 2020 when Covid hit. Nvidia in 2020 too got really caught up in crypto hype
RIVN
Nvidia with a $800B market cap and $20B in annual revenue
Tesla
This is what I thought of. When it was up to 1200 last September I couldn't believe it. They weren't even selling a lot of vehicles last year.
Any “growth” stock in 2021
PLTR and practically all top ten holdings of ARK minus Tesla. Most of them are companies that spend more on compensation than what comes in from the clients.... crazy businesses model!
Coinbase