2016 was not an easy year. It was one in which emotions ran high – to put it mildly. This considered, we decided to pay homage to some of those emotions and one thing is certain: it was definitely a vintage year for whines. While there might be a preponderance of Silicon Valley people, places and companies on the list, remember – California is known for its whines. Without further ado and in no particular order:
Elizabeth Holmes/Tim Draper: It was decidedly not a good year for tech’s first female unicorn, whose fortunes went from $4+ billion to zero. The company also left a trail of unhappy investors, but not Tim Draper, who whined about the unfair press that brought the company down. “Instead of those negative reports, he argued in ArsTechnica, people should focus on what Theranos is doing for consumers. They “love” the company, he added, despite the fact that thousands of consumers have had their blood test results—results that may have led to incorrect treatments—corrected or voided. And several consumers have filed lawsuits seeking class-action status against Theranos.” We know that Holmes idolizes Steve Jobs – who is also gone, but not forgotten.
Jack Dorsey: the CEO of Twitter and Square had a mixed year. Square is doing well, from all reports, but Twitter – not so much, with the stock price pretty much in la toilette and not a buyer in sight. One of the Golden Boys of Silicon Valley lost nearly 20% of his net worth recently, with his Twitter stock tanking, but as we always say, just because you can start a company, doesn’t necessarily mean that you can run one. Or two, at the same time, for that matter. For those unhappy shareholders who believed that wunderkind Dorsey was the exception, well, it might be just that you don’t know Jack.