Read Millionaire Fastlane
I've Read UNSCRIPTED
- Sep 10, 2014
Have to call bullshit on this one. The guy had very weak points except that the price of the shares are somewhat high compared to revenues and profit. And even that can be explained with the future projections of total e-commerce revenue (assuming Shopify remains a big player in the space)A well known short seller explains why Shopify will get sued by the FTC.
His main point is that he can find videos of people in Lambos selling the dream of being a Shopify millionaire just like Herbalifers.
The difference here is that Shopify is not a pyramid scheme or a get rich scheme. Some affiliates are promoting it as the way to millions, but apart from a few examples Shopify is not promoting it this way.
With the same logic of how he interprets the FTC text at 3:30 you could say Amazon is in violation.
Even more ridiculous: "One of their apps Oberlo...". Which is actually a third party app run by a Lithuanian company. This is the part where my alarm bells start ringing... What are the actual intentions of this short seller?
Quite the opposite. If you follow the story the stock dropped 10%+. I would be quite surprised if that guy didn't make money on this one. Unless he actually believes what he is saying.Problem is, these smart investor types greatly underestimate people's....ability to keep lying to themselves.
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