Uber’s Colossal I.P.O. Flop May Be the Worst Ever on Wall Street

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FlyingPenguin
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Uber’s Colossal I.P.O. Flop May Be the Worst Ever on Wall Street

Post by FlyingPenguin »

I was just talking about this with my investment broker the day before the IPO. I asked him if he really thought the company was worth anywhere near $90 Billion and he just shook his head sadly. The company is burning cash and despite the grand claims, driverless cars are not happening anytime soon.

Don't get me wrong I love Uber and I use it a lot, but realistically if Uber is to survive, they need to start charging more and paying the drivers better and/or offering the drivers benefits. It would still be cheaper than a taxi and certainly a lot more comfortable and convenient.

I generously over tip Uber drivers. You can't make a living wage off of a bunch of 12 dollar trips that you only get a small percentage of.

Yeah Amazon did the same thing to gain market share in the early days, but despite their claims Uber is no Amazon.

https://www.vanityfair.com/news/2019/05 ... all-street
- "Great spirits have always encountered violent opposition from mediocre minds." - Albert Einstein

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Pugsley
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Re: Uber’s Colossal I.P.O. Flop May Be the Worst Ever on Wall Street

Post by Pugsley »

Amazon owns property and assets... Uber has an office and a computer network. They don't own all the cars like a normal cab service.
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