21–30 of 156 posts
All of those are also down significantly from their all time high though.
Earlier quoted context omitted.
SpaceX is real. Uber, AirBnB, WeWork and all the other 'lawbreaking as a service' and 'subsidizing transactions with massive VC' companies are not.
Uber has a market cap of like 50 billion. It's real. It's no Apple or Google though.
They've never made money and they never will. If they haven't gotten after 10 years they wont get it.
“ The problem with tech today isn’t so much that software failed to eat the world, but that the most celebrated unicorns weren’t actually software companies. They have struggled to achieve liftoff because their feet are stuck in the mud of the physical world” This sums it up nicely. Investors got deluded enough to think that if they threw enough money at a non-software company it would magically start making software…
Earlier quoted context omitted.
Taxi and hotel businesses deserved a little punch in the gut.
Be gentle please, I understand and agree that these industries got complacent but these are people. I think our societies should integrate this 'kick' phases to make them smoother and more respectable rather than have toxic competitors attack them.
Earlier quoted context omitted.
SpaceX is real. Uber, AirBnB, WeWork and all the other 'lawbreaking as a service' and 'subsidizing transactions with massive VC' companies are not.
Taxi and hotel businesses deserved a little punch in the gut.
https://www.worldcat.org/title/great-crash-1929/oclc/3136579...
The tech and land booms of the time involved Florida real estate, railroads (a/k/a airlines), airlines (actual aircraft involved), "Radio" (RCA), new alternative energy source and distribution plays, and of course, Goldman Sachs.
I'd first read it following the 2007-8 global financial crisis. It's still relevant now. Short, highly readable, entertaining, and informative.
Earlier quoted context omitted.
Taxi and hotel businesses deserved a little punch in the gut.
Why hotel businesses? There are many different hotel brands to choose from, pricing is transparent, photos/reviews are available on many websites, customer service at the chains take care of complaints pretty well, and there has been a ton of new hotel room supply added.
This is ultimately a good thing for companies with real businesses that were for much of recent history valued far less than those that had no clear prospects of making a profit. See all the writings about IWG vs WeWork on some of the previous insanity there.
It's an incredible mix of hubris (on the startup's part) and delusion (on the investors part) to call some of these "tech companies". Like WeWork. It's a real estate company that should be valued like a real estate company. But somehow everyone concurred that it is, indeed, a tech company. How or why, no one bothered to ask.