DECLINING
28 companies
AB InBev (Crisis)
Food & Beverage
AB InBev's struggles demonstrate how acquisitive growth can create debt burdens that prevent adaptation. The 3G Capital-backed brewer accumulated $100...
BlackBerry (Decline)
Consumer Electronics
BlackBerry's decline from 50% smartphone share to hardware exit demonstrates how network effects can reverse. The device that addicted executives to e...
Campbell Soup (Crisis)
Food & Beverage
Campbell's struggles demonstrate how even iconic brands face irrelevance when consumer preferences shift. The soup maker watched frozen and fresh food...
Carvana (Decline)
Automotive
Carvana's stock collapsed 98% from its 2021 peak as the used car vending machine company burned cash faster than it could build sustainable operations...
CenturyLink (Lumen)
Telecommunications
CenturyLink's transformation to Lumen amid decline demonstrates how rural telecom faces extinction as population shifts and technology changes. The co...
Cerebral (Decline)
Healthcare
Cerebral, the telehealth mental health company, saw its valuation collapse and faced DEA investigation for ADHD medication prescribing practices. The...
ChargePoint (Decline)
Energy
ChargePoint, the largest EV charging network, saw its market cap collapse from $12 billion to under $1 billion by 2024 as EV adoption slowed and charg...
Clear Channel Outdoor
Advertising
Clear Channel Outdoor emerged from its parent's 2008 LBO with $5.6 billion in debt, making it one of the most leveraged public companies in America. T...
Clear Secure (Decline)
Technology
Clear Secure, the airport biometric screening company, saw its stock collapse 75% as post-COVID travel failed to match projections and airports pushed...
Compass (Real Estate)
Real Estate
Compass raised $1.5 billion to 'reinvent real estate' with technology but discovered that real estate agents can take their technology and leave. The...
Denver Post (Decline)
Newspaper
The Denver Post's hollowing-out by Alden Global Capital demonstrates how hedge fund ownership kills newspapers. Staff cuts from 250 to 70, reduced cov...
Didi Chuxing (Decline)
Transportation
Didi, China's dominant ride-hailing company, saw its market cap collapse 90% after regulators punished its 2021 US IPO with cybersecurity reviews and...
General Electric (Decline)
Conglomerate
GE's fall from most valuable company to split-up demonstrates how conglomerate complexity can hide rot. Jack Welch's legendary management masked GE Ca...
Getaround
Transportation
Getaround, the peer-to-peer car sharing company, saw its SPAC valuation collapse from $1.2 billion to under $50 million as unit economics proved unwor...
Hopin (Decline)
Technology
Hopin reached a $7.75 billion valuation during COVID as the leading virtual events platform, then collapsed 90%+ as in-person events returned. The com...
HTC (Decline)
Consumer Electronics
HTC's decline from Android pioneer to irrelevance demonstrates how first-mover advantage means nothing in hardware. The company that made the first An...
HuffPost (Decline)
Digital Media
HuffPost's decline from pioneering digital news to serial layoffs demonstrates how aggregation models face commoditization. The site that invented lib...
Instacart (Decline)
Technology
Instacart's valuation collapsed from $39 billion in 2021 to $10 billion at its 2023 IPO, reflecting the gap between COVID-era grocery delivery demand...
Kraft Heinz (Writedowns)
Food & Beverage
Kraft Heinz's $15.4 billion writedown in 2019 demonstrates how zero-based budgeting can destroy brands. 3G Capital's aggressive cost-cutting saved mon...
Lilium (Decline)
Transportation
Lilium raised over $1B for electric air taxis, going public via SPAC at a $3.3B valuation before collapsing 90%+ as the path to certification and prof...
loanDepot (Decline)
Financial Services
loanDepot's stock collapsed 95% from its 2021 IPO as rising interest rates killed refinancing demand. The mortgage lender had IPO'd at peak refinancin...
Newsweek (Decline)
Magazine
Newsweek's fall from Time rival to $1 sale demonstrates how news magazines faced extinction when the internet eliminated the weekly news cycle. The ma...
Opendoor (Decline)
Real Estate
Opendoor pioneered iBuying—using algorithms to instantly buy and resell homes. The company lost $1.4 billion in 2022 when housing prices fell faster t...
Outdoor Voices (Restructured)
Apparel
Outdoor Voices raised $110M to be 'the next great activewear brand' but couldn't achieve profitability as marketing costs exceeded gross profit. Found...
Peloton (Decline)
Fitness
Peloton's market cap collapsed from $50 billion in 2021 to under $2 billion as COVID-era demand evaporated. The company had scaled manufacturing and h...
Rent the Runway (Decline)
Retail
Rent the Runway's stock collapsed 95% as the fashion rental pioneer couldn't achieve profitability despite pioneering a category. The company faced th...
Spring Health (Overvalued)
Healthcare
Spring Health raised $300M at a $2.5B valuation for mental health services, then faced questions about growth rates and customer retention as the ment...
Wish (Decline)
Retail
Wish's stock collapsed 98% as the discount e-commerce platform discovered that 'cheap stuff from China' wasn't a defensible business model. The compan...