“The most unprofitable company on Earth” — Softbank’s garage sale. Peet’s $2.2B re-IPO. Detroit’s Big 3 return.

May 19, 2020

Even though IPOs are basically not happening, Peet’s Coffee is about to do one because… coffee — they think it’s recession-proof. Startup-obsessed Softbank is the least profitable company in the world right now (cough, WeWork/Uber, cough), so it’s having a tech garage sale. And Detroit’s Big 3 carmakers have re-opened factories, so we’re looking at why that’s the most milestone-y moment of the corona-conomy (FYI, 3M Americans work in auto).

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