I read it. It's legit. I would add 25%%%
Wish S-1
71–80 of 153 posts
Re: Wish S-1
#72As expected, the threat of reputational damage from counterfeit goods features pretty heavily in the IPO. Unfortunately, that damage has already been done. At the moment, 8 of the top 10 results for "wish.com" on YouTube are people exposing scams. Not really a good look for the company.
Yeah, when I think of wish.com, I usually think of "fuel filters" or auto switches. Not exactly a reputation for quality.
Oh dear - from my small sampling of Wish deliveries, I would not use a Wish-sourced fuel filter in any machinery I wanted to keep around.
Re: Wish S-1
#73If there's one IPO that I'm not excited about, is this one. This is a shit model. And I want to apologize in advance to any Wish employees that may be here and that are surely doing hard work to build the logistics and consumer layers of this business.
This is a business built on top of cheap Chinese goods, subsidized shipping and low customer expectations. High transaction volume with very low margins, and totally exposed to the winds of international trade policy.
This is just a fancy wrapper on top of AliExpress which is honestly superior when it comes to buy crap. In AliExpress you get way more insight into what you're buying and its quality, shipping times, shipping rates, etc. In Wish you don't and you will most likely get the most low tier quality product.
I hope that an IPO can bring more discipline into their business and help them move to a more sustainable and innovative model.
Re: Wish S-1
#74Looking at wish, I just had an idea for another startup model.
"Massdrop for chinese products"
If you are going to build a wrapper company around aliexpress, might as well make curation your strong point. Basically a Chi-fi model as it exists in the audiophile scene, but extended to other domains.
Pair that with some 1st party support for 3rd part products and you have something really good on your hands.
I would think it would manifest kind of like Uniqlo. In that it is great value-for-money and has a (relatively) small but curated lineup of offerings that cater to a very wide audience.
Re: Wish S-1
#75Earlier quoted context omitted.
IPOs priced per year 2017: 160 2018: 192 2019: 160 2020: 190 (YTD) IPO proceeds year-to-date is $67.6b, the largest amount of the decade if you discount Alibaba's $25b IPO in 2014 [1] https://www.renaissancecapital.com/IPO-Center
So there are more already this year - but I reckon a lot more than usually last month, that I’ve seen on HN at any rate. Maybe everyone waited til the worst of the covid-panic was over.
More S1s were definitely POSTed this year:
https://news.ycombinator.com/from?site=sec.gov
Multiple pages of ... S1 this year where there seem to be a lot fewer posted in previous years.
Re: Wish S-1
#76Earlier quoted context omitted.
I know you’re skeptical and I would be too if I hadn’t heard of this before but it’s actually true. Planet money has two really good podcasts about exactly this topic. Here’s a link: https://www.npr.org/2018/08/23/641140144/unraveling-the-myst... https://www.npr.org/sections/money/2018/08/01/634737852/epis...
I've previously critiqued the mighty mug example. It has the exact issue I pointed to above - comparing the US retail rate to an international sorted rate. See https://news.ycombinator.com/item?id=21073682
From the rates that I've seen, I don't see how they can possibly represent the real cost of shipping some of these items. They aren't injected into the USPS system close enough to the destination to be comparable to something like SmartPost for example.
Re: Wish S-1
#77Earlier quoted context omitted.
Yeah, when I think of wish.com, I usually think of "fuel filters" or auto switches. Not exactly a reputation for quality.
Oh dear - from my small sampling of Wish deliveries, I would not use a Wish-sourced fuel filter in any machinery I wanted to keep around.
It's not really a fuel filter. Or technically it is, but it's really a suppressor kit sold as a fuel filter. You may also hear them called or sold as "solvent traps". This is largely because a suppressor is largely a safety and convenience device, but acquiring one legally is a painful, multi-month process with a $200 tax. You can make one legally by filing a form 1, but it is generally understood that the wish.com "solvent traps" or "fuel filters" will not necessarily be used legally.
And I'm with you - I probably wouldn't want to put a wish.com-sourced fuel filter on a firearm any more than I'd want to put it on any machinery.
Re: Wish S-1
#78Earlier quoted context omitted.
Yeah, when I think of wish.com, I usually think of "fuel filters" or auto switches. Not exactly a reputation for quality.
Oh dear - from my small sampling of Wish deliveries, I would not use a Wish-sourced fuel filter in any machinery I wanted to keep around.
lol, I have a stake in a small brick and mortar store and I recently had a plumber in looking up an electric water heater on wish.com and say "i could order you this and fit it when it arrives next month" - I honestly thought he was going to come back and tell me I had been on a candid camera show - don't know whether it's terrifying or hilarious. It cemented in my head the idea that anyone who orders something from wish.com is a halfwit
Re: Wish S-1
#79Earlier quoted context omitted.
I know you’re skeptical and I would be too if I hadn’t heard of this before but it’s actually true. Planet money has two really good podcasts about exactly this topic. Here’s a link: https://www.npr.org/2018/08/23/641140144/unraveling-the-myst... https://www.npr.org/sections/money/2018/08/01/634737852/epis...
I've previously critiqued the mighty mug example. It has the exact issue I pointed to above - comparing the US retail rate to an international sorted rate. See https://news.ycombinator.com/item?id=21073682
Your claim was disproved back then and it's still false now. You were comparing the shipping rates for someone who does all the sorting and long haul delivery vs China, who just dumps all the mail at the Port of Los Angeles, sorted into buckets by zip code.
Re: Wish S-1
#80Earlier quoted context omitted.
Yeah, when I think of wish.com, I usually think of "fuel filters" or auto switches. Not exactly a reputation for quality.
I think of the terrible-lady-getting-excited-over-a-box youtube ad :| Also the numerous videos from linustechtips and many other reputable channels detailing in painful detail how scammy wish is. Also my mother in law who bought a $12 fitness tracker that died after 2 months. My opinion is that they've begun exhausting the pool of people they can afford to convert since the lifetime value per new member must be atroc…
The first time I heard of Wish was when they bought the Lakers jersey ad.
> Wish will pay the organization between $12 million and $14 million a year for the length of the three-year contract, according to a source who wasn't authorized to share the numbers publicly.
I just now surfed to the website to see what they even sell and it won’t let me see a single bit of the website without signing up. Genius plan.