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I believe that today's IPO will behave much like Lyft's. There'll be a bump for a day or so depending on the coverage over the weekend. I think it's very much a Kalanick move to schedule this over Mother's Day weekend. Why wouldn't he try to cash-in on his poor dead mother's misfortune? His satanic core drives him to victimize the weak and unknowing and no one and nothing escapes his blind ambition. He is a living, breathing black hole of shame.
The usual insiders will get their payday and distance themselves from the Gordian knot of Uber which can't control what they sell (the drivers' work). If you can't control your work product how can you responsibly market it. The driver corps is a time bomb (with a 94% yearly turnover) that needs $billions to sustain the price points that the consumers have been trained to know and love.
And the governments and regulatory entities are just now coming into the picture. What the TLC and the city are doing is just the tip of the iceberg. The rideshare phenomenon IS THE NEW TAXABLE goose laying a brand new supply of golden eggs, totally ready for harvesting. Once the momentum builds, there will be no stopping these taxing authorities. The taxing opportunities for them are endless and can only be limited by their lack of imagination.
Rideshare in its current form, will evolve into the taxi/black car service that it truly is. And it will be parity priced with the older-school yellows and limo services. The arithmetic of providing these riding services is fixed. It still costs $10 for the ride that you can only charge $14 for, lest you lose your current consumer. However you shuffle the numbers, someone pays or there aren't any rides. Up until now, the VCs have been subsidizing EVERY rideshare ride by 61% against the real cost of service. That ends today and the shareholders will now be expected to fund this Ponzi scheme which has never been a viable business from day one. People who know investing will see these cored holes in the cheese. It's like Buffet's take on Bitcoin. He's not having any. The increasing revenue argument is an empty promise. Unprofitable businesses are, well, not businesses. In the end.
I go with Warren.
Travis and his league of Huns will continue to prance, posture, plunder and manipulate the unwary or confused, climbing to more paydays on the heaps of the festering corpses of these innocents.
I look at this and the rest of the news and still ask where the smart people are. Hell, I'll settle for a few grownups in the room.
Sorry to darken your day.
Wait, one more thing. It's been widely reported that Dara will bolt after this payday. If he doesn't then I've misjudged his executive prowess.
The usual insiders will get their payday and distance themselves from the Gordian knot of Uber which can't control what they sell (the drivers' work). If you can't control your work product how can you responsibly market it. The driver corps is a time bomb (with a 94% yearly turnover) that needs $billions to sustain the price points that the consumers have been trained to know and love.
And the governments and regulatory entities are just now coming into the picture. What the TLC and the city are doing is just the tip of the iceberg. The rideshare phenomenon IS THE NEW TAXABLE goose laying a brand new supply of golden eggs, totally ready for harvesting. Once the momentum builds, there will be no stopping these taxing authorities. The taxing opportunities for them are endless and can only be limited by their lack of imagination.
Rideshare in its current form, will evolve into the taxi/black car service that it truly is. And it will be parity priced with the older-school yellows and limo services. The arithmetic of providing these riding services is fixed. It still costs $10 for the ride that you can only charge $14 for, lest you lose your current consumer. However you shuffle the numbers, someone pays or there aren't any rides. Up until now, the VCs have been subsidizing EVERY rideshare ride by 61% against the real cost of service. That ends today and the shareholders will now be expected to fund this Ponzi scheme which has never been a viable business from day one. People who know investing will see these cored holes in the cheese. It's like Buffet's take on Bitcoin. He's not having any. The increasing revenue argument is an empty promise. Unprofitable businesses are, well, not businesses. In the end.
I go with Warren.
Travis and his league of Huns will continue to prance, posture, plunder and manipulate the unwary or confused, climbing to more paydays on the heaps of the festering corpses of these innocents.
I look at this and the rest of the news and still ask where the smart people are. Hell, I'll settle for a few grownups in the room.
Sorry to darken your day.
Wait, one more thing. It's been widely reported that Dara will bolt after this payday. If he doesn't then I've misjudged his executive prowess.
