Has the AI hype peaked? Ethical shoe company stops making shoes and becomes an AI firm
Allbirds rose to become one of the most well-known environmentally friendly shoe brands in the late 2010s. The company chose the corporate form of a public benefit corporation and recorded environmental protection as the company's mission. In US public benefit corporations, the tasks recorded in the articles of association are also legally binding on the company, meaning Allbirds was legally required to develop environmental protection in its operations.
The ethical shoe company's message worked excellently in the market, and the company was listed on the stock exchange in 2021. Unfortunately, the life after the IPO wasn't all that successful, as the company's stock price plummeted almost immediately after the IPO and never again rose close to its valuation level at the time of the IPO. The company's co-founder/CEO left the firm in 2024.
In March 2026, the company then made a perplexing decision and sold its entire shoe brand to AAmerican Exchange Group, which owns several fashion brands. After that, Allbirds remained listed on the stock exchange, but without any business operations.

The European Union approved legislation in 2022 which
The European Commission has announced that the age verification app is now technically ready. The app is part of the EU's broader effort to protect minors online and provides a way to verify age without revealing the user's identity.





