Tribe Talkin’ Ep 14: The pattern connecting FTX, WeWork and F45 gym’s failure

Transparent Venture Capital by Tribe Global Ventures

Tribe Global Ventures

Investing, Business:investing, Business, Entrepreneurship

5 • 1 Ratings

🗓️ 14 November 2023

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this week's episode of Tribe Talkin': Sam Bankman-Fried being found guilty in his fraud trail as part of the FTX collapse. Investor due-diligence and post investment safeguards. WeWork about to declare bankruptcy. Capital Brief article here. F45 gym chain to leave the NYSE after their shares have fallen 99.7%. Apart from being spectacular failures for shareholders and customers, the other pattern that ties FTX, WeWork and F45 together. Australia’s biggest weight loss drug selling start-up, Eucalyptus and their growing pains. Capital Brief article here. Where do unicorns come from? A study by Endeavour on founder pathways prior to creating unicorns. Study can be found here. Airwallex, Employment Hero show the fintech freeze is thawing in Australia. Capital Brief article here. The $31 million Greenhouse climate tech hub has opened in Sydney’s newest skyscraper, Salesforce Tower. Startupdaily article here. www.tribeglobal.vc/events/

Transcript

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0:00.0	What do we get to in today's episode?
0:09.2	There was a bit of a theme to today's episode, starting off with SBF and the verdict, the guilty
0:14.8	verdict across all charges, which then led into a discussion about we work, filing for bankruptcy or going into
0:23.4	bankruptcy.
0:24.0	And we discussed the rise and fall of F-45 and gave our view a bit of analysis from a LinkedIn
0:30.3	post that we really liked.
0:31.7	Yeah, F-45, not a tech business, so to speak, but there's always something to learn.
0:36.9	And one of the things we discussed
0:38.4	is that the common theme across companies that reach amazing heights only to crash down to zero
0:45.2	is that there was a level of unhealthy growth in there and that healthy development is really
0:50.7	where it's at, whereas unhealthy growth inevitably leads to problems.
0:55.1	Which also led into a discussion of that balance of the good versus potentially unhealthy
1:00.6	with the story of eucalyptus and their growing pains as they generated 100 million revenue
1:06.1	in the space of 15 months, but also came under the scrutiny of the TGA regulators.
1:11.6	We talked about a study of where unicorns had come from and added absolutely no value
1:17.6	and we'll let listeners work out to take from that.
1:20.6	And we discussed some of the recent raises in the FinTech space and gave our thoughts on
1:26.6	some of the positive signs occurring in the market.
1:29.2	And then ended on some good news with the announcement of funding, $31 million for the climate
1:34.8	tech hub in Sydney.
1:37.3	Yeah, led by Investable.
1:39.2	So let's get into it.
	...

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