Given this price (and the likely downward trend to come if Lyft is any predictor), I wonder if Uber and Lyft are really just an act of philanthropy from SF VCs + SA to hungry/drunk/tired city-dwelling folk. If so, thanks guys! (* and you mostly are guys). Next ones on me!
Uber opens at $42 per share
351–360 of 470 posts
Re: Uber opens at $42 per share
#352Re: Uber opens at $42 per share
#353Earlier quoted context omitted.
Uber is currently well below it’s IPO price. Historically, that’s not uncommon.
> Historically, that’s not uncommon. Really? I was under the impression that closing below your IPO price is quite rare indeed. Do you have other data? Edit: actually, just saw a NYTimes article with info that it is indeed rare: Since 2000, only 18 companies valued at more than $1 billion and listing on American exchanges have opened below their I.P.O. price. On average, tech stocks have jumped — or “popped,” in Wall…
Name a single person in your immediate vicinity whom has no uber account.
Uber will hit $200
Re: Uber opens at $42 per share
#354Earlier quoted context omitted.
I've never understood why so many people were/are so bullish on Uber. I understand that ride hailing is a big deal, but it doesn't feel like it's that hard to launch a new ride hailing company. I'm basing that opinion on what I've seen in my city. When Uber and Lyft left Austin, there were lots of alternatives that had existed or popped up to fill the space. Aside from brand recognition, what does Uber have that the…
> When Uber and Lyft left Austin, there were lots of alternatives that had existed or popped up to fill the space. I tried to use one or two of those alternatives. Setup was a pain and I ended up taking a cab. I have at least one coworker who couldn't get a ride because he was in South Austin. Additionally. if your company is only in one city, visitors have to know about, install, and setup a new app just so they can…
Uber and Lyft have "network effects"? How? Explain that.
I couldn't tell you what car sharing service any of my friends use.
When I was in Malta earlier this year, there was no Uber. I downloaded an app called Taxify while sitting at a cafe, and called a car from it. It's not a huge barrier to download and install another app, even when trying to call a car.
Re: Uber opens at $42 per share
#355Earlier quoted context omitted.
I've never understood why so many people were/are so bullish on Uber. I understand that ride hailing is a big deal, but it doesn't feel like it's that hard to launch a new ride hailing company. I'm basing that opinion on what I've seen in my city. When Uber and Lyft left Austin, there were lots of alternatives that had existed or popped up to fill the space. Aside from brand recognition, what does Uber have that the…
Brand recognition is huge. It's easy on HN to abstract this away as a simple scheme, but your customers are entrusting their lives. Lyft and uber initially had to pay out of pocket hourly wages to get drivers on board. Yes you can pretty much have insurance a car and a simple app and recreate the service but there's much more in it for anyone but big players. And why would they try jumping in at this point?
There's brand recognition. And then there's brand loyalty. Uber has a lot of recognition, but not necessarily loyalty.
Re: Uber opens at $42 per share
#356Earlier quoted context omitted.
I've never understood why so many people were/are so bullish on Uber. I understand that ride hailing is a big deal, but it doesn't feel like it's that hard to launch a new ride hailing company. I'm basing that opinion on what I've seen in my city. When Uber and Lyft left Austin, there were lots of alternatives that had existed or popped up to fill the space. Aside from brand recognition, what does Uber have that the…
Ease of competition aside, I still think Uber is a massive bubble. Ride-hailing is of dubious actual utility, it's been causing traffic problems (and has been getting regulated accordingly), it has ethical problems with regards to employment (and faces constant threat of regulation from that angle too), and above all else, it's clear at this point that it will never be profitable while it relies on human drivers. Inv…
> I can't fathom how it's worth nearly $10 billion dollars. I almost want to short it.
Well then you'll really not fathom how it's worth $80 Billion. Which is it's actual market cap.
Uber is worth more than Ford and GM combined.
Re: Uber opens at $42 per share
#357Some notes from watching Uber open: - if it closes below $45(its IPO price) it will be the first time since 2008 that the happened for a major IPO - TD Ameritrade executed more orders in the first 10 minutes of trading than they did for the first 2.5 hours with Lyft. - Uber is 9% of all trading at TD Ameritrade, retail loves this stock, - market is down today, which isn't helping Uber but its probably not much of a f…
> June 4 is expiration of 25-day quiet period for analysts at underwriting banks. Expect bullish initiations on this date
Why? There are plenty of examples of equity research analysts pulling no punches on names that the other side of the Chinese wall took public months earlier. And Uber is a classic opportunity for a smart young analyst to get invited on CNBC by throwing some sharply worded shade in their initiating coverage.
Re: Uber opens at $42 per share
#358Given this price (and the likely downward trend to come if Lyft is any predictor), I wonder if Uber and Lyft are really just an act of philanthropy from SF VCs + SA to hungry/drunk/tired city-dwelling folk. If so, thanks guys! (* and you mostly are guys). Next ones on me!
It's not the VC's money - it's money from wealthy investors and more recently sovereign funds and even pension funds.
Re: Uber opens at $42 per share
#359Earlier quoted context omitted.
Same reason I requested $0 salary this year... Seriously, this argument doesn't make sense to me? How can them spending more money help them make more because of taxes?
It would be better for you to collect stock on a company like google at 0$ salary, and just pay long term capital gains when you sell than salary. Makes a huge difference long term, as one is filled with payroll taxes and high rates, and the other is 15%.
That doesn't make sense. The stock grant will still be considered normal income to you and taxed as the salary is taxed. Any difference in the stock price after it vests and you sell will be either short term or long term capital gain.
So if you consider getting all salary in cash and then buying GOOG (or any other stock) with it, you come off only a month or two late on the period for which you are holding the stock. And for that, you lose out on the diversity of the stock.
This also assumes that your GOOG stock starts vesting immediately and there is no cliff. Otherwise, you will be holding the stock for "cliff" period longer if you just get cash salary and buy the stock.
Disc: Googler but this comment doesn't have anything specifically to do with Google. Google is just an example here.
Re: Uber opens at $42 per share
#360Earlier quoted context omitted.
> When Uber and Lyft left Austin, there were lots of alternatives that had existed or popped up to fill the space. I tried to use one or two of those alternatives. Setup was a pain and I ended up taking a cab. I have at least one coworker who couldn't get a ride because he was in South Austin. Additionally. if your company is only in one city, visitors have to know about, install, and setup a new app just so they can…
Uber and Lyft have "network effects"? How? Explain that. I couldn't tell you what car sharing service any of my friends use. When I was in Malta earlier this year, there was no Uber. I downloaded an app called Taxify while sitting at a cafe, and called a car from it. It's not a huge barrier to download and install another app, even when trying to call a car.
It has local network effects.