iBankCoin
Joined Dec 1, 2015
135 Blog Posts
@JeffMacke

GoPro CEO Gets A Pass

GoPro is so bad it’s now apparently impolite to discuss management candidly. Nick Woodman, proud legacy member of the SV CEO High School took home $284 million in 2014. He cashed out  in the IPO and took out more when he and his wife, Jill, exploited a loophole in the GoPro IPO terms to dump over $300 million in shares via a foundation to fund causes TBD.

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90% of the shares sold in GoPro’s secondary offering came from insiders. They got $72.38 a share, about 9x higher than where the shares are 14 months later.

Woodman is the affable face of executive incompetence. If you aren’t going to be critical of him you should simply not do financial commentary. Martin Shkreli didn’t cost you any money but he’s an easy target. GoPro and Yahoo are investment death pits run by a Ty Webb and Regina George. Guess which exec is getting pounded today?

On Christmas Eve I did a piece on why CEO behavior matters. I focused on GoPro and Yahoo.

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I’m not sure if the piece is rude. I’m certain it was correct. Yahoo and GoPro have dropped 18% and 50%, respectively since I recorded it. I work for you. I take it very personally but criticisms aren’t necessarily personal. It’s business. I think executives matter to your investments so I talk about them, good and bad.

Being CEO of a public company means answering to the public. That’s why they get the big money. If execs can’t take the heat they should take different jobs. I’m going to keep doing mine.

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15 comments

  1. mspm

    Well said. Love the posts Jeff, great addition to IBC

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  2. k_melancon

    Excellent analysis – like that you got firsthand insight into upper management and what it takes to effectively lead a large firm – I like even more that you are sharing it with us.

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  3. kasparov

    Jeff, you nailed it.

    Woodman is millennial AF

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  4. juice

    the Macke always cuts to the chase and cuts to the core

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  5. tradingnymph

    Jeff, WHAT the heck is happening to the Market. The DOW is the lead dog??? Why?? And Nikkie and DAX red, but still we attempt a rally. NAZ red? The Dollar Drop? Did someone get the NFP Data? China Flooding the World with USD before holiday? It is so strange? Any insight on Crazy Town Market?

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  6. lesurgeon

    Amen.

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  7. tradingnymph

    Jeff GET BETTER SOON!!! Being sick sucks so much.

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  8. probucks

    @Jeff – Eating wings at BWLDs?
    #GetWellDude

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  9. zerosum

    This is so perfect. Perfect, I tell you.

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  10. vegastrader

    $GPRO only good for tax deduction. If delusional was a crime he would be sharing a cell with Bernie Madoff.

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  11. Research Donkey

    It FIT far behind GPRO?

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    • traderconfessions

      No. Nothing more than an electronic exercise bike. Makes one feel great to buy one and then it sits idle after a week’s use.

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  12. tradingnymph

    This is so cool, OK yesterday I started looking at CNH/CNY to see when the PBoC was in buying off shore Yuan. Today the One week holiday starts so they don’t have to worry so much supporting the Yuan. At this moment it is at PAR, so PBoC is happy and won’t be selling USD’s. THEREFORE Dollar rallies and that short squeeze on Commodities stops. It didn’t matter what the NFP data was because without China flooding market with USD’s the dollar had to get love. So far the actual shippers are not seeing any seasonal restocking of commodities from China, so it all looks so truly ugly for true demand out there. So today makes perfect sense vs crazytown yesterday when I didn’t catch the PBoC actions.

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