Matt WolfeFutureTools.io · Founder of Future Tools | Host of Next Wave Podcast

This Is NOT Investment Advice, But...

19 Apr 2026 · 1 min

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0:57

In this solo YouTube commentary, Matt Wolfe highlights the bizarre transformation of Allbirds, a former $4 billion IPO shoe company that never turned a profit, into an AI firm called New Bird AI. He notes that the announcement triggered a 600 % surge in the stock, fueling AI‑bubble hype. Wolfe outlines Allbirds' steep decline—sales down ~50 % and a sale for just $39 million—before the pivot to acquiring high‑performance GPU assets. He treats the story as a meme, jokingly suggests it would be a good short, but adds a disclaimer that this is not investment advice and he won’t act on it. The tone is informal, skeptical, and lightly humorous, emphasizing the absurdity of the market reaction.

Chapters

In probably the weirdest AI news of the week, the company Allbirds, which sold shoes, is now an AI company. And when they announced they're switching to an AI company, their stock jumped by 600%. The people who are talking about an AI bubble have to be having a field day with this one. And for context, Allbirds had a $4 billion IPO in 2021. They never turned a profit. Sales dropped nearly 50%, and then the company sold itself off for $39 million. So $4 billion IPO down to $39 million. $1.9 million. They announced that they're rebranding to New Bird AI. They're no longer selling shoes and they're acquiring high-performance GPU assets. I just, I, I don't know, like, uh, not investment advice, but this is probably one that I would short. I'm not actually going to, so don't hold me to it. It just doesn't sound like they're the most brilliant business people if I had to guess, but I don't know 'em personally and I don't know the full story. This is just kind of a meme right now.