GetSwifty: Why ASX hype machines are alive and well
The GetSwift debacle was taken seriously by the ASX which instituted a number of changes to prevent companies from over-hyping contracts. But almost three years later, what has changed?
In a time before meme stocks, there was GetSwift, the last-mile delivery app that crashed and burned before moving to the Canadian bourse leaving only a litigation footprint behind.
It's a matter of record now that institutions such as Thorney and Fidelity backed the company, but most of the market marvelled at the audacity of GetSwift in turning unbridled hype into actual capital.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
