It’s an old joke but how do you make your company worth $39 million? By starting out being worth $4 billion. Allbirds, the DTC footwear brand that hit the market 11 years ago with a huge splash as part of the first wave of direct-to-consumer startups started sinking quickly ever since; it’s no laughing matter. It was just sold for pretty much ten cents on the dollar of its highest valuation back in the day. Over-expansion, product development problems and an inability to move beyond its core product when it saturated that demand all contributed to this sad demise. Missteps indeed.