Discover and read the best of Twitter Threads about #UberIPO
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Uber went public at $45 a share. Instead of experiencing a short-term bump like Lyft, it immediately fell and hasn't recovered.
Lyft went public at $72. It's at $51.50.
Uber's been public for less than a day and it's already down 6%.
Let's review why. #UberIPO
Lyft went public at $72. It's at $51.50.
Uber's been public for less than a day and it's already down 6%.
Let's review why. #UberIPO
Uber is a wildly unprofitable company, losing billions every year it remains in operation. It has failed to show a path to profitability. Under Kalanick, it was accepted they would automate drivers within a few years, but when the hype bubble burst, there was no alternative.
Uber's self-driving program, which its S-1 said it only keeps around because competitors keep investing in the tech, is wildly underperforming. It's no longer a focus, and is likely only still around to have plenty of bets to show potential investors. medium.com/radical-urbani…
