The Tragic Downfall Of GoPro
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- čas přidán 27. 05. 2024
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In this video we look at the rise and fall of the action camera maker GoPro.
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0:00 - 2:15 Intro
2:16 - 4:44 Early Days
4:45 - 8:26 Post-IPO Growth Plans
8:27 Core Business Suffers - Krátké a kreslené filmy
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He's a psycho ceo. I hated him and his crap uninnovative product for years. Own a insta360 x4. Best 360 camera on earth. And I am happy dji and insta action cams are beating gopro at its own game.
Please watch patriot act why the rich can't save us episodes in it they talk about gopro ceo donating part of his stock before it crashed to get a good bang for his buck. Dude is disgusting
*WSM: can you do a video on the company Sircles App, a local Sacramento company intended to compete with Yelp but the founders were just spending investor money on personal expenses and they are on the verge of collapsing. I know one of the founders personally and he is personally liquidating all his assets in order to hide money from authorities. Investors got screwed.*
"Breaking into tech has never been easier." The market is actually ice cold, as a software engineer I'd advise NOBODY to do a bootcamp.
what would you advise a final year tech student ? please don't sugar coat and say it as it is. Wanna know if i gotta go to other industries before i find myself in a trap.
@moxictasculinity I'd advise you stay the course. The market is bad now, but it was great last year and you make alot of money. Also look into working at non-tech companies, those jobs (like mine) are much more stable than tech.
@@ag4244 2022 and 2023 were absolutely terrible years for the tech market. Layoffs fyi pretty much show that.
@@ag4244 thank you very much. I am so scared
I'm 40 and it's the worst I've ever seen, by far.
“Breaking into the software engineer world has never been easier”….
Selling a scam bootcamp. Kind of sad….
easier time getting a jr dev job in 2021 as a new grad than getting any job after 2023, speaking from personal exp
Yeah haha the stats of 80% being hired sound hilarious alone
Between outsourcing to the far east, HB1 visa workers and executives willing to accept buggy software at a lower cost, it is difficult to compete as an experienced individual with a MSCS degree in today's job market. Plus the term "engineer" is so over used in this context.
He had so many scam sponsors that I always waiting to see what stupid sponsor he will work with next
@@garyplewa9277 Use the title "engineer" in Quebec w/o an engineering degree and you will be in deep legal doo-doo (as Microsoft found out...)
Everyone is getting laid off and your scam bootcamp can promise 87% getting hired in 6 months is 110% absolute bs right now.
I hope you take the sponsor criticism to heart. There is no boot camp getting close to 50% placement rates anymore. It’s downright hard to get an entry level programming job currently. It’s a scam to claim 80%+ placement rates.
He promotes a lot of scammy ads. I don't even know if the channrls voice is actually the owner.
Maybe he can do a video on scam youtube video sponsors?
87% of your sponsor CS bootcamp’s grads land a job within 6 months? I’m sorry, but those stats are probably incredibly cherry-picked, and you should know that too.
I like your videos, please don’t shill borderline scam companies
This isn't the first time, man needs to get da bread so you gotta get better at seeing through scams
They are like 16 years old bro
TripleTen is definitely not a scam, but you're right to be wary of all sponsors. Tech love hiring grads because cheap.
Technically, getting _a_ job doesnt say it pays good or even related to the bootcamp
@@tomlxyzwhich is also why it’s “probably incredibly cherry-picked”
After the sponsor ad I came straight to the comments 🍿
Worst sponsorship Ad I’ve’ seen in a long time. Stop promoting scams. I love your channel but your sponsorships are hideous
Yep, makes me lose respect for him. For as much as he talks about scam companies he sure loves promoting them.
@@AdamGamingClips
respect for him? for me that ship sailed a long time ago. it rare i click on these videos and not go more pissed off than when i came here.
@@THE16THPHANTOM yet you bothg still here hahaahaaha
awkward time to say that breaking into the tech industry has never been easier.
Right!! I was just thinking that. All those layoffs!
100 % just reading the sponsor's text written years ago before the tech lay offs
it might be easy to break in tech but question is will you stay ? lol
As someone who graduated right before the tech crash, its not easy
@@jonathanpryzby4029Yeah I graduated just before the GFC. It is hard enough breaking into the industry as a new grad. Doing it during a crash is nearly impossible.
The video starts at 2:16
I thank you sir.
👍
highly advise getting sponsor block extension for your browser.
@@CannabisTechLifelike?
Thank you! Lost me at breaking into tech was easy when it’s one of the top industries laying people off.
Thanks!
"Breaking into tech industry has never been easier" Bro I am a recent CS grad from T10 school with 3.91 GPA and I'm struggling to land a job.
A CS grad?
@@lukealadeen7836 yes
@@lukealadeen7836 Calisthenics Studies
Computer Science@@lukealadeen7836
Try to build your own idea or find a someone and build their idea. Until you get a job
Whenever I see a company doing a very aggressive advertising, I immediately consider their product inferior. There is no way you can put that huge amount of money into ads and then remain with enough to make a quality product at a reasonable price.
Exactly! When companies advertise heavy it means consumers are paying the premium.
find a more credible spoinsor bro
or dont
Thank you Mr. Wall Street Millennial for the informational background noise while I work
That we will not remember shit about😂
Damned by faint praise... But just goes to show how the channel is well produced like a podcast etc.
Lmaooo, listening this at work too
@@jaysnehpandey7089 you're fired!
But I was doing market intel!
Mmm.
@@gaara4667 i don't feel bad about myself anymore lol
I bought a GoPro last year, used it for a month, then chucked it in a drawer. Dumbest purchase I’ve made in 8 years
How come you stopped using it?
Sell it for parts before it literally no one wants it or you have to give it away
I own 6 or 7 of them....all used off ebay. I use them more than my camcorder. They are handy if you have a lot of hobbies and have to shoot alone...but Woodman is an idiot, he should have sold the company, around 2014 or so.
All that means is you live an uninteresting life. Says nothing about the product. Leave them to people who do things lmao.
@@AGILISFPV I tried using a GoPro 9 and it failed its trial by ice miserably by running out of battery too quickly in cold weather, turning what is supposed to be a calm snowmobile ride into a shaky mess, and for its final act, destroying a battery by overheating. Yes, my life is interesting enough for an action camera to be useful, but the GoPro wasn't it, chief. Bought a DJI Action 4 and it worked great, even performing well by taking a nice video of a night drive that demonstrated exactly why you shouldn't be doing that route on foot.
Hey bro just found ur channel I see ur new
Do not sell your soul for bad companies it will ruin ur reputation
So don’t shill for these companies dude
After watching several videos on the rise and fall of GoPro, I must admit, I'm uncertain what strategies they could have employed to withstand the competition from smartphones. Once consumers purchase a GoPro product, there's little incentive to buy another one until it breaks or until newer models with enhanced features are released. Inevitably, their decline seemed unavoidable.
They should have invested more with dji
They had no notable IP to distinguish their product from knock offs but still built their company around charging premium prices as if they had. If they structured their company to provide good quality devices, with good support at reasonable prices they would easily beat back smartphones as most people realize smartphones suck for any photo or video you want to keep.
@@tommyhairyeah7726DJI is exactly what GoPro shoud have been. Very reasonable prices for the hardware quality they provide knowing they have no real IP to protect them so they keep innovating. GoPro releases the same product year after year with software crippling to distinguish it
The fall was probably inevitable. I hated how they tried to push the Quik app and require a login. Clearly they knew they had to create an "ecosystem" to resist cheap Chinese knockoffs.
@@chiquita683not necessarily. The core ideas are not defensible with parents/IP. It was inevitable the category would be commoditized.
Bro will just take any sponsorship deals he can get lmao. He's just gonna pretend no one remembers or cares about the gambling site he promoted
Caveat emptor.
Well, the company's founder had the protection of family money to cushion his fall. It's the investors who took a bath.
i know go pros as expensive and they overheat and stop recording when you need it
the AD segment is a SCAM
Any time the topic of becoming a software engineer comes up lately I'm seeing people saying this is a really bad time to do so. I'm not at all shocked seeing the sentiments in the comments about your choice of sponsor for this video. You have to know this is a disingenuous ad. Running that ad and parroting what they gave you tarnishes your reputation as a reliable source of information. Why should I trust anything you have to say now?
SW skill would be like keyboarding. When was the last time you see company hires typist? This is not 1970s anymore. Everyone would eventually expect you to know how to do pythons in any office work, maybe even construction crew too.
Its gone so bad, that GoPro just recently started patent trolling Insta360 and is begging the US Gov to ban them (i assume DJI is next). Good riddance GoPro!
Can't compete? Let's ban them. Same with ev car, solar companies. In the long run.. You'll lose.
GoPro really is one of those "lightning in a bottle" things that tried to outgrow its niche and fell way short. They're too clumsy for spontaneous on-the-spot filming, not robust enough for anything feature length and despite basically being designed to be put in places where breakage is a risk, they're still too expensive to be easily replaceable for the average person. Outside of CZcams content creators with large enough budgets to buy multiples of them, they don't really have anything resembling a recurring market.
It's too late now, but Gopro had a good idea and just a head-start. Instead of spending hundreds of millions or billions on promotion and stupid ventures, they should have shifted to an engineering company that gives the best product ever moving forward the path of innovation without much ad spending. And honestly the business was limited anyway since phones got much better and people were willing to spend more on them anyway. The entire company may be limited in scope anyway and the drone idea was crap.
@@SylvainOfGandahar Cell phones stopped being about making calls and texting, and more about cameras that happened to have the abilities of a small computer with it.
Imagine leaving your job as a wilderness guide, waking up to wander the forests and mountains, exposing people to the natural beauty that they’ve forgotten in the bustle and toil of their sterile, nondescript cubicles, just so you can join a scam bootcamp for a saturated market looking to fill menial software work that will soon be replaced by AI. Lul.
He will regret it
@@lukealadeen7836 Most life lessons usually are.
I love your content but the cheesy sponsorships are ruining the quality. Stick to your core.
agreed
I agree but a man has to earn a living otherwise he will have to stop
@@lukealadeen7836 I completely understand that, and am familiar with monetization of a channel, but every creator has to find that balance. WSM hasn’t found it yet.
I’m fine with sponsors but they should be relevant and ideally something the creator or their team actually uses.
@@lukealadeen7836 he's knowingly lying to his audience. channels who start doing that and promoting scams don't last long. and by him "earning a living" he's happily sending otherwise to waste their time, money and energy on something that won't earn them money. this is called selfish none empathetic.
also there are people getting laid off, recent grad cs students who can't get entry job, he's rubbing salt into their wounds, but it's okay since he's earning a living?
Cheesy sponsorships on finance channels are for the best. Most of the companies sponsoring are quite scammy and deceptive. Cheesy means less pple are likely to fall for them.
lol... when tech people have been laid off...
If by "single handedly" you mean -Him and his inheritance, sure. Spoiled rich children are the only ones that are privileged to such opportunities.
As the old saying goes, it is difficult to found a successful startup company and even harder to sustain one for a long time
Yeah...even Apple is having a hard time being innovative these days.
I just bought the DJI Osmo Action 4 as it outcompetes GoPro on every parameter.
the lens is way too wide, the record button is harder and not so good to press in the water. the file size much larger without having much better quality. But it has much better user interface and battery life. I own both. I use the GoPro more in the water
Unfortunately their products are so good that there is no reason to upgrade to newer versions. I've had the Hero 9 since launch in 2020 and still routinely use it. I have no reason to ever upgrade.
Your videos are good but you should avoid those sponsors. We all must pay our bills, but as someone who lives by your credibility you should't compromise yours promoting scammers
Your sponsor is a clear scam artist. There was waterproof digital cameras already before go pro and they had accessories. to hold them to things the thing is that they were actually good non-fisheye cameras made for pictures.
It's hard to have a successful company when there is no real moat on their product. They were the first to come out with a decent product but if your product can be copied, made better, and sell for a lower price then why would someone continue to buy into the brand. Look at how Sony no longer dominate the premium tv market.
It wasn’t tragic, it was inevitable.
It wasn’t inevitable, it was necessary.
@@theabstract4936 Your comment is dumb.
Not really. If they hadn't made the mistakes illustrated in the video. There are plenty of incumbent first mover firms that manage to stay on top. You don't get to keep a monopoly, but you don't have to get your lunch eaten either.
They should have used their first mover advantage to offer deals their competitors couldn't refuse. Similar to the Microsoft model.
Im never surprised by this guys scummy sponsorship deals anymore.
I purchased a YI 4k action camera a few years back. It was better than the GoPro Hero at half the cost. I knew then GoPro's days were numbered.
is the Yi 4K still around? I doubt it. You can buy now a GoPro Hero 10 that is great fir $229
@@stefpix I don't think it's around anymore. This was about 6 or 7 years ago. My point was the Yi represented what was coming for GoPro....a bunch of competitors with better technology and cheaper price points. I guess their arrogance wouldn't let them see it.
@@DsquaredLtd I think now the GoPro Hero 10 at $229/249 is the best deal. The dji osmo action 4 is too wide. The action 3 was out of focus / not sharp. The insta360 has cartoonish colors, limitations and not as waterproof without a case. GoPro may not be innovative now, but it is the more balanced camera between price, features, image quality.
you should consider not lying to your subscribers for money. the F500 I work at wouldn’t even show me a resume with a boot camp as the primary experience/education. especially recently entry level stuff is mostly taken by interns that are graduating
I check gopros out from my library and use them to film runs. I pull out the battery and use one of those external phone batteries to power it. So i have the camera on my chest and the battery in my flip belt.
The main reason I use it instead of my phone is better stability for when I'm bouncing up and down while running. Unfortunately, it doesn't do anything for the side to side motion.
11:47 corporate arrogance is too strong, the top guy has a slight ego problem based on the interview 12:51, but the truth is far more prosaic - that he was first out the gate but multiple innovations by others have edged them out of top spot since then. It's inevitable in any sector.
Plus early valuations are always insane due to greed, the current price is the reality, no?
So Tragic and Downfall are also clickbaity. Nobody rides a rocket ship all the time. Mostly they're lucky for a while and then tank. That doesn't make them Losers like Loooosssseeeerrr! It's just business.
As a software engineer with 15 years experience, and following your videos for years, I'm appalled to say this is my first comment here to complain about this dream-selling scam of an ad 😢
Well can’t shame them for not taking risks and trying something new
I agree with this, while others have innovated better than GoPro, and dont have some of the same issues, my issue with cameras like the Insta360x3 are they're too fragile. Was GoPro overvalued? Absolutely, just like Tesla, it just takes a while for people to realize it. Can it be saved? I still think so, but not with the current CEO, his time in the sun is over and someone else needs to take the reigns and reinvest into R&D and build something amazing because in the last 5+ years the only noticable difference I've seen is the battery is a little better on the GoPro12 but I still have issues wjth overheating running in 4K here in South Florida when I use it for rollerblading, even while doing 15+mph on an 88 degree (F) day. However, if i fall the camera always survives, i cannot say the same for the Insta360
Insta360 are shady, the pay reviewers for positive reviews. The color are too garish and saturated. Also the way they are designed makes them less water resistant. And the usability is worse. I would stay away. I have The Hero 10 and 11 and DJI Osmo Action 4. The GoPro footage has less jitters than the DJI's. But DJI has a better user interface/
Karma drone is a fitting name for Gopro. Gopro had a fruitful partnership with DJI, but then Gopro treated DJI like an OEM. When DJI refused to be treated like OEM, Gopro went solo with drone business, thus Karma drone was born. The rest is history just like Gopro
Hard to imagine that a business run by an unemployed rich kid could make bad decisions.
Also in hindsight it seems fairly obvious that with the improvements in smartphones the market would dry up. Just look at dedicated gps units.
Nick Woodman Caught lightning in a bottle, then FAILED to see the future, failed to innovate - failed to add insta360 gyro stable scopes. iPhone was always going to replace it. He should have SOLD the company at $10 billion, and moved on, like a Peter Thiel would have. Now he will be relegated in history as a 'poser, failure', one hit wonder
If you weren't there for the Karma unveil, you cannot understand how hard GoPro ate it. It was something like a week later that DJI announced its first Mavic, which was lighter and more capable in every single metric. It was devastating to see all of GoPro's investment in drones vaporize so quickly. You knew they spent huge and that there was absolutely no chance of recovery.
I'm a very long time subscriber man, stop accepting bad sponsors .... please
Once I've asked GoPro team on their website - why the hell should I turn on the location to connect an app to Hero Session - they just ignored my question.
One of my worst decision in life is to pay ~$800 to get Go Pro & its accessories 10!yrs ago 🤢🤢🤮
Lol, that ad.. selling shovels when the goldrush is over
Speaking of... what are the best action cams today? My first action cam was a Contour from waaay back in the days... then I went with Sony over GoPro 10+ years ago which was pretty good for hiking, especially with their live remote control thingy that could be worn as a large watch. Haven't been active since before the pendemic and pushing 50 now, but if I do ever get back to hiking up those mountains, what camera is the best these days? I would kind of like one of those 360-deg ones so I don't have to verify if the camera got out of position every now and then.
Not sure about 360 cams but the DJI Action line is the go to action cam nowadays. Quickly replaced GoPro in a heartbeat. Does everything GoPro did (4K footage, small camera body, etc) in addition to not glitching/suddenly losing footage like GoPros
A wider problem with GoPro that could have built a moat within the industry was that they didn't dedicate time and resources to development of patented software with a subscription fee. They could have offered specialised editing and other features which are more easily updated than the accompanying hardware and this would have allowed and ongoing income from customers. Even an on GoPro video platform attached to the software for people to create and upload their own GoPro content and be paid via ad revenue would have been much better than the drain caused by sponsoring athletes !!
Insta360 is eating their lunch right now. The products are better. Editing is more intuitive. The hardware performance is better
1- You completely missed the relationship that failed with DJI around 2014/2015 when DJI started making their own cameras 2 - That videocomparing the Insta360 is BS as the Gopro has image stabilization that's actually pretty good. How GoPro started though was very interesting.
I used to day trade GoPro back when it was trading at $13-14. Glad i didnt buy amd hold lol
I like this channel. Sad to see them selling an obvious scam like a tech boot camp.
I don't understand why there quite are so many dislikes on this video - aside from maybe the last point about how Nick's comments on how the brand identity was formed on the backs of content creators - I get how this point might be relevant today but back in their IPO days I think this was a good way of showing off the success of their product. I can see the vision they had... Hindsight is 20/20 I suppose, and it's easy to criticise - but I think they did well for the time. Thanks WSM for the content
The dislikes are likely due to the sponsorship add for the tech bootcamp.
If you want to replace a broken waterproof shell for a GoPro, GoPro's attitude to the customer is 'paddle your own canoe' . Spares like a shell are Unobtainium in bricks and mortar stores anywhere and MUST be ordered online. Then here in Ireland there's the issue of the courier. Take your pick and pray they'll deliver.
Unless you have software like Apple, it’s really hard to compete with Shenzhen on consumer electronics.
Why should I spend hundreds of dollars on a Go Pro when I can get the exact same thing for $50 on Amazon? That's their problem.
The sponsor and comments are quite interesting. I had started to learn programming on my own at the beginning of the year and started a bootcamp.
It became discouraging as there are thousands of out of work developers with far more education and experience than I’ll ever have. I had no chance and I am unsure this bootcamp would yield anything if educated experienced developers are finding trouble in the current times.
Drones were the make-or-break moment for GoPro. I think it was the right choice to try it, but yeah DJI utterly crushed them on that front. If anything GoPro should've tried to get acquired by DJI back when negotiations were still open.
I really think the company could've stayed private and they would remain quietly profitable to this day. They have a very effective niche, and despite competition the majority of options similar to the gopro are just not as good in terms of build quality. The only one I've seen actually offer a value proposition that makes it unique is the Ghost camera line from Drift, which sports absurd battery life in exchange for no viewfinder. I get a lot of use out of it because juggling GoPro batteries to get around its actually kind of terrible battery life sucks, and I need to be able to record anywhere between 30 minutes and 2 hours on a whim.
The problem is with that American mindset that every company needs to grow quickly and forever. They made nice cameras popular in their niche, they could've kept doing just that, without an IPO.
Bro I’m a big fan of your content, but please be better with these ads. They are predatory and you’re smart enough to know it.
They should have gotten into surveillance, and military and police application. They would never go broke. Government contracts are the way to go.
They could never figure out the overheating issue and short battery life needing constant battery swaps which allowed you to create only short videos.
I quite like the company for acquisition, think it will halve and halve again. Then they will do a 5 for 1 share offer for compliance. Drop their marketing and re-domesticate to a more friendly state.
I remember him as a "Guest Shark" on a few episodes of my FAV SHARK TANK 🦈🦈🦈
A red flag is when an individual is the Chairman/Chairperson,CEO/Founder!how many decisions were made/pushed through by him alone......was there transparent board and management oversight?
Comparing processors by nm (size between transistors and die components) does not equal performance outright. The difference between HERO12 and Insta360 image stabilization is a combination of factors.
I feel sad about this.
GoPro made good products and weren't owned by a bigger company
Wall Street, to max its profit, IPO'd GoPro as a social media company. In reality it's a camera maker.
Isn't it hilarious that SNAP now calls itself a camera company, though it really is a social media company!
Tragic to hear the wilderness guide is now a software worker in some office 😢
I totally forgot about GoPro.
It is wild to refer to all of your competition as "knock offs"
I made money on the stock. I bought the first big dip and sold it a few months later while in Germany. CNBC was busy chatting up the stock at the time of my purchase. I think CNBC shills for stock promoters, etc.
SHE IS LITERALLY TYPING ON A BLACK SCREEN IN THE AD. GODAMN BRO INCREASE YOUR BUDGET
awesome!
My gopro is a piece of junk. They never got the opportunity to sell me second one because of that.
Azzhole moves like putting a chip in the official GP battery, so aftermarket batteries never work right.
I'm happy to see them crap out.
"87% find a job within 6 months" = grads who work in ANY field.
well that sucks for them, i never thought to find out how gopro got to be and ive always wanted to buy one. but if i think about it, considering the cost i would have to do research and there's no reason why i would read reviews of the gopro and still buy it. i would go for the better quality machines. reminds me of the chatter going on about chinese EV's and american vehicles. its true, either be constantly innovating or get left in the dust
Imagine being unemployed, and then your first idea in mind is go surfing in Australia!
When you're born rich you can do that
I’m confused, is a marketing based company simply about product placement, or about appealing to the imagination and fantasies of customers?
Every year a new gopro thats a no-no. Garmin is taking the same steps
Don't look at GPRO financials. Don't look at any forwards. Don't apply any evaluations. Just stay away from Go- Pro.
when i bought gopro hero 7 it was advertised waterproof until 10 meters, f*cker didn't even survive 1 meter deep, i will never buy another gopro
A company that probably did not need to exist.
GoPro is still the standard action cam. The Instas are fine but for true action photography, GoPro is where it is at. I have them all and use them all. If I want to pull a camera for an action shot that I will want to push to another medium, it is always GoPro. No doubt, there innovation is lacking. Hero12 was a disappointment. But it works all day, everywhere. Their financial crap is another story altogether. If something brings them down, it is the market, not the cameras.
Bizarre that he was unaware that without a patent, and company could sell the same product for less than the GoPro. Seems like that outcome would have been obvious.
I like this story, it's "the dream" of any startup founder, he's truly the idealized version of that.
The early 2006 gopro weren't that great as an everyday camera. Good for sports though. Very distorted fish eye, limited video function. By the time gopro were getting good china was starting to release knock off brands of it way cheaper. Now insta360 and DJI have better products with way less than 10billion marketcap than gopro once had.
The Karma drone was poorly received from the get go. The failures/recall were just the gate shutting quickly.
It always make me laugh when in Far Cry4 they talk about GoPro.
The process size the CPU with fabbed with does not have a direct relationship with raw processing performance. Comparing the process size of the CPU for the gopro and the insta360 and then claiming that it's the reason for the gopros lesser performance as a camera shows your research is really lacking.
He's a psycho ceo. I hated him and his crap uninnovative product for years. Own a insta360 x4. Best 360 camera on earth. And I am happy dji and insta action cams are beating gopro at its own game.
Please watch patriot act why the rich can't save us episodes in it they talk about gopro ceo donating part of his stock before it crashed to get a good bang for his buck. Dude is disgusting
Reminds me of Tesla. From the swing and focus to Optimus and Self Driving Taxis, while most of their core products stagnate and the competition from China closes the quality gap and squeezes them on price.
gopro has been a bad value for a while now. Their cycling cameras are short battery life while Cycliq can go 3+ hours.
very interesting episode
anything under 5 dollar i thought was penny stock?