The fact that this is one of the only “safe spaces” where people feel comfortable speaking openly about the company and its culture says everything about why there’s no real path to recovery. There’s no room for dissent or different perspectives. Leadership is bloated and top heavy, more focused on its own reflection than reality.
People argue about JD, DEI, or whatever the issue of the day is. That misses the point. Every leader has been handpicked by the founder. The culture starts at the top, and it’s been reinforced for years. Nothing changes unless it comes from the outside or fresh perspectives are actually given a shot.
Good ideas go nowhere. Marketing clings to its budget and congratulates itself on campaigns while product sits on shelves. We used to set trends. Now we’re following Carhartt, Crocs, and Adidas. We spend seven figures on campaigns while some kid with a phone is creating viral content. That’s the competition.
You’ve got a retro CEO, a retro CMO, a stale CFO, no COO, and now the CTO is gone. So who’s actually running the ship?
Target price: $35 by the end of 2027.