Lauren Sherman

And someone said, we work so exist.

I said, sure, there's a demand for it.

There's not really a demand for more apparel.

If you can't make it work, you just close.

And so I think in the end, the investors in Everlane didn't really have a choice.

It was either like, let's sell it to someone else.

And the thing for a Shein is like, they don't need Everlane to be profitable.

they can kind of use it as an experimental little side piece or what have you.

Glossier is a great example of a brand that was really important to the consumer that has lost its footing.

They have a new CEO and they're trying to get back on track.

But again, it was a matter of suddenly the message and the product were not as on...

point as they had been, and they invested too much in the wrong things and didn't focus on profitability.

And again, beauty can scale faster than fashion, but it's a similar thing.

Allbirds, an example of they really were focused on this one style shoe made with this environmentally friendly wool, and it was sort of a novelty.

Now they're like in, I don't know, they're in AI or something.

They totally pivoted out of

out of the shoe business.

It's very weird.

The company plans to buy and rent out computing power for tech companies.

New Bird AI.