When I first saw Zuckerberg in an interview, I was surprised by his composure given how young he was. During the last conference call, Park was a cross between a dead fish and a deer in front of headlights. Not really inspiring.
Zuckerberg was a hacker. I think he got in trouble hacking into the school system
He had a passion for programming and that led to FB.
When I look at Park, I see someone who just wants to make it big. He has founded 3 startups all in widely different areas. He doesn't have a passion for a specific technical area. He just wants to make make it big as fast as possible. Does he know how to keep the business afloat after the IPO. He better hope that the stock stays afloat until the 180 day lockup expiration or his lifelong dream of making it big will be shattered.
I mentioned that I was reposting it so that's not plagiarism. Google who is James Park and all this information is public. Click on the link with website crunchbase. All the info is there.
His first startup was Epesi Technologies. Google it and click on Bloomberg website. It says the company went out of business not acquired.
His second startup was Windup Labs which was acquired by cnet after 1.5 years. Given the short time in business, I doubt it was bought for much. Might have been a fire sale.
I really don't see the experience that would give you the confidence that he knows how to grow fit past startup phase. Also, no experience with how to fight off apple and xiaomi.
* never quite finished CS degree at Harvard
* first startup went belly up
* next startup was photo sharing website
* then worked at CNET on photo sharing
* then started fitbit
Co-founder CTO was working also at CNET on photo sharing
It doesn't look like CEO has any extensive experience on running companies. Definitely no experience on running post startup stage companies.
In interviews after first earnings report, CEO looked extremely uncomfortable and inexperience. Did not answer questions well on future products. Or maybe there really isn't much in the pipeline
It doesn't look like the cofounders (CEO or CTO) have any technical background relevant to fitness bands. So where is the technical know how coming from? Or is there really nothing technically special or advantageous with fitbit?
How do you gain confidence that CEO will ensure this is not just a one hit wonder ... a flash in the pan?
$700/share????? Do you realize how ridiculous that sounds. I feel sorry for you for listening to kapitallossez. If you had bothered to do a quick calculations, you would have realized how stupid of a statement it is. At $700/sh, market cap would be $144B. With such large market cap, price to sales should be around 3 (see aapl). Thus translate to $48B in annual sales. Assuming ASAP of $100, this translates to 480M units sold annually. Do you realize how ridiculous you sound now? You have no credibility.
Stock started filling after earnings at $45. Then we had China crash. Now there are concerns about apple. Don't see it going much higher in near term.
You laugh but that is the crazy thing. These are really not devices that are technically hard to build. Xiaomi already makes smartphones that rival against the iphone. Adding touch screen to the Mi band is peanuts to them.
Previously available exclusively to China, website now open to US, india, etc.
Wearables supporting 3rd party apps should outpace normal wearables. In interview, Park asked what he thinks about Apple Watch. He said they will coexist. FIT will stay focused on the "dumb" wearables. He said they way they win is to stay focused. In other words, no response. Man, this guy has no vision.
Apple watch detracted interest in Fit bands
Right or wrong, IDC report was extremely damaging. Investment community has reacted very negatively. Too many doubts. It will take sales number releases by the company or earnings report to change the sentiment. Best to avoid the stock. Too many other better opportunities.
Yeah, they were asked many of the same concerns as earnings conference call. They were criticized about their responses. Yet they gave the same responses today. Didn't take the opportunity. Either the.y don't learn or they really have nothing to say. Good choice to dump. I also dumped my weekly calls