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>which could take forever depending on investor taste for losses If the existing investors had much more of a taste for losses, why the IPO?
Stupid retail money. Greater fool theory.
It's going to be a wild ride. While (*most) people seem to like using Uber, headlines about how the unit economics don't work, how drivers can't make a living, how their working conditions aren't tenable keep popping up. How does Uber intend to address this? In addition, I have questions about the service's ability to grow significant multipliers. It really feels like they've reached the majority of their markets thr…
You're investing in driverless cars at this point.
It's going to be a wild ride. While (*most) people seem to like using Uber, headlines about how the unit economics don't work, how drivers can't make a living, how their working conditions aren't tenable keep popping up. How does Uber intend to address this? In addition, I have questions about the service's ability to grow significant multipliers. It really feels like they've reached the majority of their markets thr…
You're investing in driverless cars at this point.
I have not purchased or plan to purchase any Uber stock, I just think it's important to have perspective on this event.
https://en.wikipedia.org/wiki/Initial_public_offering_of_Fac...
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Doing exactly what Uber wants isn't how you kill them. They're subsidizing the rides right now, but if everybody followed your uncle's advice, Uber would very quickly "win" the rideshare wars, establish their long-sought-after monopoly, and raise prices.
Better to support legislation that pushes the minimum wage up for rideshare and taxi drivers in top markets (see: Lyft $17/hr minimum in NYC). Faster death than trying to bleed Uber and Lyft dry through rides (which could take forever depending on investor taste for losses), and full self driving won't arrive anytime soon. Ride the populism wave.
Why wouldn't you pass a tax on search and social media companies that sets the minimum wage of engineers to 1 million dollars a year if you want to break up twitter, google, and facebook? That's logical equivalancy.
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Better to support legislation that pushes the minimum wage up for rideshare and taxi drivers in top markets (see: Lyft $17/hr minimum in NYC). Faster death than trying to bleed Uber and Lyft dry through rides (which could take forever depending on investor taste for losses), and full self driving won't arrive anytime soon. Ride the populism wave.
So basically you're saying that you should use laws to send them out of business instead of basic economics? Why wouldn't you pass a tax on search and social media companies that sets the minimum wage of engineers to 1 million dollars a year if you want to break up twitter, google, and facebook? That's logical equivalancy.
I am also for using data protection laws (and not minimum wage regulations) to break the ability of social media companies to survive (or at the very least, rein them in). Have to use the right tool for a job.
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But if the existing investors thought that Uber will win if they only just piss away a bit more money, they would have dumped the money in rather than let the stock go to the public.
Yes.
It's going to be a wild ride. While (*most) people seem to like using Uber, headlines about how the unit economics don't work, how drivers can't make a living, how their working conditions aren't tenable keep popping up. How does Uber intend to address this? In addition, I have questions about the service's ability to grow significant multipliers. It really feels like they've reached the majority of their markets thr…
OR how about the super questionable culture of the company and its executives and leadership? Those are such red flags by themselves... This is a horrid company with a horrible past that wouldn't die because of VC money.
Earlier quoted context omitted.
So basically you're saying that you should use laws to send them out of business instead of basic economics? Why wouldn't you pass a tax on search and social media companies that sets the minimum wage of engineers to 1 million dollars a year if you want to break up twitter, google, and facebook? That's logical equivalancy.
Basic economics have failed when a company that has existed for over a decade without any ability to turn a profit IPOs. And indeed, I am all for using laws against abusive corporate entities. I am also for using data protection laws (and not minimum wage regulations) to break the ability of social media companies to survive (or at the very least, rein them in). Have to use the right tool for a job.