How Juul Went From $38 Billion Vaping Startup to Near-Bankrupt | WSJ What Went Wrong
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- čas přidán 28. 05. 2024
- Juul sparked an e-cigarette craze that led it to a $38 billion valuation, making it one of the most valuable Silicon Valley startups in 2018. Five years later, the vaping giant’s stratospheric rise has been matched with a stunning fall as it faced thousands of lawsuits over the marketing of its vape products, which critics say targeted teens.
WSJ explains Juul’s collapse and what’s next for the struggling e-cigarette company.
0:00 As U.S. cigarette sales fell, ‘juuling’ continued to gain in popularity
0:43 Background on the e-cigarette giant
1:50 Juul’s turning point: FDA takes a closer look at teenage use of Juul’s main product
4:14 Juul’s downfall: potential bankruptcy and lawsuits
What Went Wrong explores the challenging conditions and decisions that led to a company's downturn.
#Juul #E-Cigarette #WSJ
Did that girl just say she was exposed to fruit and that made her vape? Exposed. To. FRUIT.
bro i was like make any excuse lol
I think she meant the flavour. And becus the vape had the flavour it gave her a reason to vape. A bit weird lol
That's what she told her Mum, to avoid getting her A kicked when busted, then her Mum realized they can get some publicity here. clowns
don't show her crown apple or else she'll become an alcoholic apparently
They will blame anything. Easy excuses.
The product design is absolutely fantastic, no question. Shame that all tobacco companies are essentially still merchants of death.
They're ALL merchants of death.
For a lack of true science put at the service of intelligent regulation.
Lies again? Name Jules
Same could be said bout the auto and gun industries. Or even aviation industry since they contribute to military.
@@noob.168 nope. Tobacco companies manufactures exclusively in detrimental products.
Juul became a patsy for the crimes of others. Their greatest crime was being low-hanging fruit for the virtue theater of politicians. Nicotine dependence can be problematic, just like alcohol, caffeine, THC and refined sugar. But destroying Juul causes nicotine dependency to be more dangerous with lower-quality products. This was about maximum PR benefit for minimum impact.
And a patsy to be copied from. All the best vapes are sold at the non-brand places now, like Elfbar, as they're gray area goods.
And nobody can actually say the exact harm that they are causing. The British NHS still encourages its use as the long term damage is so minuscule compared to smoking which people would otherwise do. Who honestly cares if it's addictive if we have found a way to consume it with little to no harm.
100%
@@Eoin-B breathing anything but oxygen is a no
@@Eoin-B breathe air
Here in Germany JUUL has been banned, and the market is now full of chinese-made disposable vapes that you throw away entirely, with all the plastic casing, electronics and batteries landing in the garbage. Juul pods were compact and simple and much cheaper than those vape pens, and because these pens are so convenient i see much more young people using them then i ever saw with the juul. Pure stupidity and another huge market transfered from western to chinese companies, great job
juul is not a german company, LOL stop crying
He never said it was😅
@@privacyhelp reading comprehension moment
@@privacyhelpbro can't read
@@infantjones He is crying because of Chinese companies, while juul itself is not a German company.
What’s funny is they attacked Juul so hard, but now there’s a million versions of Juul made by other companies that are x10 better and cheaper
They don’t care about the kids, it’s the tobacco companies in charge.
Tobacco companies arent in charge. They banned flavored tobacco too here in California which is a huge hit. God forbid kids get ahold of a menthol cigarette or a grape Swisher. Recreational marijuana OK though. Liberal hypocrites!
Cheaper, yes, not better though
Those brands are considered illegal because they have not gone through fda testing, some could contain metal in the vapor because it’s not been tested and quality controlled. So maybe tastes better than what juul is left with selling
Osama: They didn't fully test C19 vax either and that has hurt way more people than a JUUL. JUUL didn't pay off the right politicians and give enough kick backs to the Mafia in Washington. decaybeats: I had plenty of JUUL's and they were not that great honestly... The thing young people liked about them more than other e-cigs was the cool LED. As far as a vape goes it broke down often, the juice leaked out, and the flavors actually sucked compared to other vapes.
@@scarabperformance they're all corrupt man. Meanwhile SBF aka FTX getting charges dropped because he prepaid corrupt politicians.
I was in college when this whole situation took place. Overall, I find this sad because a lot of young people around me smoked cigarettes and so did I at the time. Vaping was seen as a nerdy thing and the nicotine juices in early vapes would tear apart your throat. Juul with their salt-based nicotine pod was a huge innovation. Vaping was no longer seen as a niche hobby, and it got very popular at my campus. Now with bad laws, manufacturers found a loophole where you can still have fruity flavored vapes as long as they are fully disposable. This is a huge environmental overlook as most teens did not stop vaping but just switch brands from Juul to Elfbars, etc and are now throwing away nicotine juice along with lithium batteries and this will be a huge problem for the environment. Now teens are consuming poorly manufactured disposable vapes that are manufactured in China instead of the USA and are most likely more toxic.
Literally Marbolo ruined juul because they pulled out of selling to them after their huge evaluation about 4 years ago. Old lady that was a manager at a convenience store her daughter was one of the first 15 employees. She was about to get paid fat when they were about to sell cause she had shares
Juul and vaping in general is more and always was more harmful than cigarettes and anybody who smoked both will tell you vaping was harder on the lungs.
@@Exposingyouok boomer 😂
@@orwell-rh4gx he ain’t lie bud
There is eciggrette with only water and no fragrance.
It's pretty impressive how fast the "everyone does it" turned into "eww you vape?" -- like literally a matter of 5ish years.
Really? I wasn't aware of it
Everyone lives in their own bubbles apparently.
@@smeeself unsure what that means but I am talking about the 16-24 age group over the last 5 years. It's pretty universal in the U.S. for that age range.
@@scottland906 Yep, that's the bubble. Thanks for the clarification.
That's the power of PR for you. Big tobacco brands have been doing it for decades.
I juuled until I couldn't find mint pods anymore. Tried menthol, just wasn't the same. Other brands still had mint, so thats what I bought. Very strange to me that only juul had flavors removed, had all flavored ecigs been banned I most likely would've quit then instead of years later.
US Customs don't care that much about enforcing this kind of thing, I used to work for a company that sold legal drugs in Canada that were illegal to buy in the US, customs only ever seized a package twice out of like 50,000 going to the US in 2 years. Canada Post even assured us that it's not against their policy because it's not illegal in Canada so they don't care what we're sending over there. Juul only got hit because they were the biggest so they were the easiest to crack down on at the source, but it was still trivial for other brands to get their juices/vapes across even if they never followed FDA's safety guidelines.
The downfall of Juul can be blamed entirely on the media for dragging their name through the mud. The entire premise of the medias arguments was that the flavors were made to target youth, which is ridiculous. Saying that is like saying that alcohol companies make flavored alcohol just to target youth. The fault was not the flavors or the company. It was the vape shops and gas station workers who decided to sell to children.
The tobacco industry made sure it was destroyed
"But since I was exposed to fruit, obviously, and mango and mint, that I just thought that it was okay"
Lol, teenagers are such morons. That's why they need to be protected, unfortunately.
And you know the media loves it, because they can man the moral palisades... It's idiots all the way down...
Yup, we were all dumb when we were kids
Worst, the teens are switching to non-regulated Chinese imports.
To be fair, I started smoking around 15 because of flavoured cigarillos. I didn’t necessarily think they where healthier than cigarettes but they appealed to me more. A while later I began smoking cigarettes as they where more readily available from friends (I no longer smoke tobacco or nicotine products)
Youth is about learning from raw models, adults supposed to do what's best for others instead of protect their own self-serving political image in front of a ¢amera...
Juul is a fantastic product for adults who do not want to use real cigarettes. It is sad that just because this company followed the rules and made money they are the ones suffering the consequences. Go to any liquor store or gas station and their are 10 different brands selling "kids" flavors. Juul sells tobacco and menthol only now, not made for kids. When Juul entered the market everyone had flavored vapor cigarettes (I started with Vapage Vanilla long before Juul was around). This is nothing other than lawyers using kids to make a buck. The "victims" will get a few hundred dollars tops and the lawyers have made millions on both sides. I just got a class letter telling me that Juul owes me $748. Why? I am 46 and I knowingly bought an addictive product, I used the product and now they are going to give me my money back because kids got addicted? Why? How is that fair and how is it justice?
Well said, juul got killed by regulators then the shady disposable vapes took over and now toady the regulators don't care, even though they are made in China and a wasteful product as the whole vape is discarded not just the pod. So basically regulators killed a US company and let a Chinese company fill in a multi-billion dollar US market...
I could almost give that a thumbs up. Justice and fairness sure escaped planet earth or something, yet use caution lifting every single rock searching for it as there's a bunch of snakes out there... I'm thinking of the UN and WHO: the FCTC/COP6 is getting a decade old next year, conceived behind closed doors in absence of journalists/reporters and observators in, euh... Moscow/Russia. No wonder an affordable health-wise alternative got sabotaged in retrospective!
I was in high school in 2018 and just about everyone had a juul. We’d even sell/swap them and the pods during classes when the teachers weren’t looking. It really was a big issue and they were so easy to buy. Plus at the beginning juul wasn’t super open about how their products could be harmful. I only knew that they were safer then cigarettes, but I didn’t know how addictive the nicotine would be. Not disagreeing with you, just stating a different perspective
@@grahamjarvis384 Thanks for your perspective Graham. Obviously I am seeing it differently from a place where everyone in my high school was a smoker. I hope you kicked the habit!!!
Juuling for the first time when you’ve never had nicotine before was an unbelievable head rush. I can guarantee you cigarettes don’t provide the feeing juul would. It definitely was bad, EVERYONE was addicted. Thankfully I don’t do vape anymore
Hypocrisy. Ban e cigarette but sales of traditional cigarettes continue
Or worse. Alcohol. Cigarettes don’t boost domestic abuse but alcohol sure does.
Crazy Juuls are banned but not the other 10,000 different branded vapes targeted towards kids.
Hmmmm… It’s almost like Altria bought a majority share of the company to intentionally tank it, so that they could preserve their cigarette business.
💯
A company actually comes out with a product that helps people get off cigarettes, and theyre instantly targetted and nearly run outta town and business... that oughtta tell you all you need to know.
Cigs are cigs and juuls was no different they had nicotine so how are they better they are still just as bad or even worse since it was way stronger
@camb6245 I'm not explaining it to you. Ask Google, it can explain why you're so wrong. I don't have the time or interest to explain it to people who already know everything and somehow nothing.
u r joking. Adding fruit flavors and targeting teens who never smoked, they r as evil as any cigarette peddler. nothing but dope pushers glad the governement did their job and i hope next step will be equalizing vaping with traditional cigarettes and tax it and ban it all together.
@camb No.. they are not the same. Ciggs have tens of other chemicals beside nicotine.
I like how the girl said that she was exposed to fruit and mango, she thought she would try juul. In other words, I take no responsibility for my bad choices, lets blame someone else.
She is 14 years old lol. That is the problem.
The flavors. No one has tobacco starburst ya know, lol but she had had fruit flavors before, so it didn't seem like it would taste bad. At least that's my understanding of her comment
Cotton candy vodka? Amazing. Fruit-flavored vapes? Outrageous, we can't have that, think of the teens!
Adding flavors and targeting kids, its sick.
I didn’t use juul, but I vaped myself off of cigarettes with RDAs and box mods, and then slowly reduced my nicotine consumption to zero. I haven’t had nicotine in over a year, and zero cravings. I was able to quit nicotine altogether because of vaping.
imagine using juul with 40mg pods 🤯
@@namesashhousewares8337 If I’d used 40mg juice with my RDAs, I’d’ve gotten fatal nicotine poisoning from just one hit.
Great but I don't see that I see kids in the hospital for juul
Now we have elfbars which are 100x worse and teens are still the ones using it good job U.S. FDA 💀
Lol
God I’d kill for a Creme brûlée pod
God please bring Juul back, and all the flavors.
If I had known they were gonna pull all their flavors I would’ve bought like 1,000$ worth of pods
The govt took out JUUL the ONLY american vape company and now china has filled the void with even more dangerous vape devices 🤦♂️
It was invented in China. In fact the only invention in china for the last decades
Seems like they are soloing out and targeting one company when there’s several involved. This is corporate bullying… then why are cigarettes still legal?
I remember when Altria was working on developing their own e-cig. I did one of their product testing for their e cig when I was in college. They really needed to buy Juul because whatever they were testing instead was horrible
I have never smoked or vaped, and was never tempted to or interested in cigarettes. That said I had a roommate who used a juul when the ban of certain flavors came out, and I have to say, the only time I have at all been the least bit tempted to try it was hold my roommates juul. It felt very premium to hold and all the flavors did make it sound more enticing. I mean I never was actually going to try it, but holding a juul, I could understand why other people would.
Banning e-cigarettes but not banning tobacco cigarettes. Noted.
Pax did have big foothold in Tabaco vapes and weed vapes, but then it got stagnant and there are so many vapes now, and even stiiizy is doing what they started better. Not to mention, the whole regulations thing killed Pax's app, making you have to connect via browser
I think shutting down the big ones that still answer to someone, leaves the market open for the small ones, who put god knows what into their products.
Everyone sounds so old. In a few years we will look back at this with nostalgic disbelief. They replaced smoking cigarettes with vapor and people lost it. ?
My Thoughts: This video isn't covering all the aspects of the Juul's case, what's the reason behind US Justice falling behind Juul etc etc. Its not the correct way of journalism!
What went wrong? Their insane price! You get half the amount of juice for double the price of other vapes
Altria killed juul to keep cigarettes alive
Doesn't matter, the founders and shareholders already exited for $12.8B.
China banned fruit flavors as well ! Many give up e-cigarettes and turn back to tobacco .Myself included 😂
Juul always tried to market itself as the new Apple product, and that's why the teens got interested in it. Cuz the cool kids were having one
Short answer : Tobacco Lobby Killed it !
always political bs, it's okay for teens to smoke cigarettes abuse drugs and drink alcohol even tho it causes a lot of fatalities, but it absolutely not alright to just vape what a hypocratic government
Truth must exist somewhere inbetween...
went from standardized and safe American product, to single use unregulated garbage. Thanks government and courts!
No tears shed on this one.
Hope it’s over soon
Wonder how dumb they feel knowing the kids are just gonna pick up normal Juuls now. No matter what your little studies say.
I actually had used this but switched to other brands as it seems that others are more cheaper than them.
Juuling will always be so nostalgic.
Cigarette producers had a few good buddies in the government and they bought them a yacht and made a large campaign donation. They started producing e-cigarettes themselves and ate the market share juul had
the people saying this was unjustified probably have no idea how bad vaping got (and still is) among teens. when i was a kid not many people smoked but right now practically every high school kid vapes
Using personal experience as evidence is absolutely dumb. So many bias and unaccounted factor.
@@chandy3859 this stuff is very regional and not everywhere has been affected the same way. also i’m in canada, idk how bad it is here vs america
@@boz4490 do you even know what happened tho? the company advertised directly to kids because at the time it wasn’t regulated the way cigarette ads are
Vaping owns stay mad lib
groups of kids use to smoke cigs right put side of school when I was hs. its not at all new the teens smoke. its not like vaping came around and suddenly teens started smoking. there are far worse things than teens smoking. acting like that is the great and worthy crusade of a generation is dumb.
Is there any doubt as to whether the future of vaping is a steam (water vapor) which has equal NaCl concentration and pH as the lungs, and that this may cause vaping to lose all of it's negative health effects, but that I haven't prevented you from starting this as a business because the wording of my comment prevents me from being able to claim that the idea is mine and that you need to pay me in order to use it?
This is a great news
lol. between all the vape junkee comments.....
As a legit smoker who uses Juul products when I can't get a real smoke in, I am actively trying to find a different brand that's acceptable in flavor. I hate that they blatantly advertised to kids and feel like a pawn in their scheme to hook the new generation. Now their prices are up to cover their losses. I've tried vuse and found the device delivers nicely, but i'm on the fence with the flavor.
Juul is what napster was in the 2000’s. Napster was a crime but set the way for streaming today such as spotify and apple music, same thing with juul. They paved the way for others… you don’t see these new guys getting shut down? Someone has to fall for others to run
Funny how AG's for NY & CA are more worried about safety concerns from Juul yet don't care for public safety with all the high crime rates in their own actual states smh 🤦♂
Smoking kills more than murder…
so they should do nothing? u sound like u complain a lot lol
Because you can’t control your kids, we all have to suffer. Cool.
I love vaping but it is definitely becoming a super problem, especially with young children. Kids constantly being caught and 4th and 5th grade vaping. Literally on a daily basis at my child's school. They banned flavored cigarettes a long time ago because they said it was a problem. But now we have millions of different flavors for a smoke device that is nearly in detectable? This is worse than any cigarette problem with kids. At least you could smell those
Definitely, saw a kid didn't look any younger then 12 hit a vape when I was on a walk, better then cigs but nic is a hella addictive substance ironically though I consider it like caffeine cause their both really good nootropics
I literally never saw this brand in stores. Blu has always been the top brand at any store ive ever been to
how? there is more profit than $38 billion by selling classic cigarette that are tobacco or something like that rolled in paper which you have to light with a match
The government ban on them is what happened
now we got flum, elf bar, etc
What if the invesment by a big tobacco company was a move to rule out one of their biggest competitor?
It was really expensive but surely they could afford it
either they get bankrupt or rising stocks nice investment by Altria here
This was expected since its inception...waiting for Juul to become like WEWork
I had NO IDEA PAX made JUUL. Now they make pods + vapes for legal states.
Why would they put regulations and policies to control gun ownerships like what they did with JUU????
Exactly
WSJ: vaping is bad
Also WSJ: here is a 10 minute ad for Juul
McDonald’s can directly advertise and sell their diabetes sandwiches to children but flavoured vapes meant only for adults 🙈
🤣🤣🤣
nicotine is a highly addictive substance
@@mylooooooooooo so is sugar
@@samlee86421 It's easier to quit sugar than heroin. Similarly, abstaining from sugar is generally more manageable than quitting nicotine. I can’t believe I’m having to say this 🤣
@@mylooooooooooo You clearly don't know what your talking about. Number of people smoking is going down every year in developed countries. But type 2 diabetes going up at exponential rates in the US and Europe. Its called obesity EPIDEMIC for a reason.
why didnt they say anything about juul's selling the company to the big tabacco companies?
Con a whole new generation on teens. Disgusting
When it comes to vaping, you need to take the '10pm at night, having a few beers , ran out of vape' strategy into account. What you want it to either have access to any vape juice for your multi-task e vape, or just buy a lost mary. Juul, although maybe a good product, was too specialist, the shop at 10pm at night, had to sell the juul, cartridges which many places did not, Vapers want easy access any time of the day
I used Elfbars to quit smoking cigarettes, and sought them out for that purpose. Vapes can have advantages...
In my country, you can't even show a cigarette in television, how the hack they shown vaping activities in the ads. That's just a big no-no!
sorry you live under an authoritarian censorship regime
Because no one should be allowed to sell a product that is dangerous for your health!
oh, wait...
Imagine people telling you that it’s the flavor of ice cream that makes you fat…
Good 👍
trying to stop being addicted. I go through a pod a day.
The things I would do for a mango juulpod though 😂
There was something in that mango pod that was addictive, and I’m not talking about the nicotine. I got hooked when I was 17, and quit nicotine at 21.
founders got rich which was the main goal
Yup. Who cares if the company fails. They got their millions. That’s all there is to it.
I got off cigarettes thanks to vaping but became addicted to vaping so a whole new prob ,it was harder to quit, yr just transferring yr addiction..😢
Finally the truth
God only knows what id do for one last mango pod
I thought it was that anti vaping commercial that did it. I thought e cigs were a good alt to real cigs until that commercial. I’ve tried neither so I wasn’t the audience.
its safe to say if you still vape and don't use a juul, ur probably inhaling burnt plastic
What went wrong? They didn't listen to their CS team- the first one 😔
The problem was they got too greedy and made a deal with Philip Morris.
The problem with vaping in the USA is the fact that the eliquid isn't regulated like it is in the UK. This leads to ingredients that are harmful to the health of any person who buys vapes in the USA.
if they brought back mint and cucumber I would've kept them in business lol instead I quit
Ight billionaire dream on cause unlock mighty homeless to me
The culprit behind all this from tobacco company
Not gonna lie, the Juul got me to stop smoking cigarettes, but man oh man has it put me on a nicotine ride ever since
That virginia tabacco was the best helped me quit smoking cigarettes one of the best devices to do so for me.
Big tobacoo was angry their customers/future customers were leaving them for juul. Nothing else
juul got screwed period helped me quit smoking
I’d buy juul again if they brought back my mango!!!! Myself and everyone I know, we all use BREEZE disposables vapes which have 3,000 hits
Will they ever offering Mango flavored pods again :/ ?
mangos got vitamin c, right? that's good for me. i'm a victim.
ok so...what about all the other vapes on the market? what is the federal government going to do about that?
They let big tobacco buy in. … that was the beginning of the end
I have a big stash of the all the flavoured juul pods that i can survive on for the next 25 years. Being just 25 i almost put all of my life savings into it
bro has melting point iq
@@Vetal777 Not if they stored in a refrigerator
wow broke and ruins your lungs
I’ll buy all of it plus x2 of ur life saving
@@nazelislam12345 How to reach you ?
Too bad, I used to use Juuls
RIP Cucumber Pods!
Have to learn fr big brother, tobacco company. Pump more money in lobbying and r&d. Jz to keep running the business like big brother.
Why do people sue companies like this?
Asif that girl said she was exposed to fruit so thought a vape would be fine😭😭😭
I miss juul
cigs and alcohol, and smokeless tobacco, and nicotine pouches, and cannabis are ALL equally accessible to people under the age of 21, I don't understand the logic of this
Juul is not a solution to quitting smoking; it’s an alternative to smoking.