Uber reveals IPO plans.

Discussion in 'HardForum Tech News' started by Uvaman2, Apr 12, 2019.

  1. Uvaman2

    Uvaman2 2[H]4U

    Messages:
    2,917
    Joined:
    Jan 4, 2016
    https://www.nytimes.com/2019/04/11/technology/uber-ipo-filing.html

    Its a quick article taking about Uber publishing their prospectus, and the likely IPO coming up soon.
    Valuation might hit upwards 100billion.

    In my view: Just what the hell... A company with massive loses, 100 billion IPO. Yeah this all looks like 80s pump and dumb schemes, only the con takes longer, and they gotta wait until everyone owns a little via 401ks and mutual funds and all that jazz... Then the big boys pull the plug, and leave everyone on the hook.
     
  2. Uvaman2

    Uvaman2 2[H]4U

    Messages:
    2,917
    Joined:
    Jan 4, 2016
    You know that's right.
    I lost count how many of the mutual funds mixes I have available there are contaminated with facebook and twitter, and shit I believe should be worthless.
    Greater fool alright, and the ultimate greater fools: retiree funds.. just off load it in there
     
  3. Grimlaking

    Grimlaking 2[H]4U

    Messages:
    2,655
    Joined:
    May 9, 2006
    Man... I don't see Uber's big plan here. They organize people with their own cars to transport (kidnap and rape) their customers. Everyone gets paid a little money. The product is the service. Lyft has already proven you can compete.

    What is that 100 billion valuation for? Servers? Cloud services? Where in the brass tax short of a copy-able and repeatable IP is the hard value to Uber?
     
  4. Shadow_Foxx

    Shadow_Foxx [H]Lite

    Messages:
    112
    Joined:
    Nov 26, 2011
    Ill admit I am no expert on this, but at what point is this just a Ponzi scheme? Theyre continually bleeding money, and are only kept afloat by new investor money.
     
    clockdogg likes this.
  5. ssnyder28

    ssnyder28 2[H]4U

    Messages:
    3,512
    Joined:
    May 9, 2012
    Where did they come up with 100 billion, lmao doubt this company is even worth 10 billion
     
    N4CR likes this.
  6. N4CR

    N4CR 2[H]4U

    Messages:
    3,466
    Joined:
    Oct 17, 2011
    I would love to see them try pull that shit on Dragons Den or Shark tank lol
     
  7. TheToE!

    TheToE! [H] Brewmaster

    Messages:
    6,502
    Joined:
    May 17, 2005
    Lyft is tanking right now..
     
  8. Wiffle

    Wiffle Limp Gawd

    Messages:
    291
    Joined:
    Oct 2, 2011
    Wallstreet in general has become a large Ponzi scheme. Unless you have millions of dollars and are managing your own portfolio, you are making pennies compared to what they make off your 401k, IRA, or other "low risk" investments.

    Edit: lcxyE0D.gif
     
    Last edited: Apr 13, 2019
  9. btgorman

    btgorman Limp Gawd

    Messages:
    227
    Joined:
    Jun 30, 2009
    Hahaha!

    My friend used to work for an Uber funded business. They would sell cars to poor people for an Uber payment plan or some shit. Many of these people couldn’t keep up payments and really messed up the cars in the process. I think that particular business crashed. Talk about throwing bad money after worse. My friend now works somewhere else.
     
  10. Verge

    Verge [H]ardness Supreme

    Messages:
    6,094
    Joined:
    May 27, 2001
    How is Lyft competing? They don't make money either. Soon as one tries to raise prices and make money, people will go to the other. I see no way for these to make money.
     
  11. doz

    doz [H]ardness Supreme

    Messages:
    4,831
    Joined:
    Jun 16, 2009
    If anyone believed this was not going to happen.... True morons. I predicted list would eventually settle around 45/share at best and possible lower depending upon how quick Uber IPO came. The fact that they were ever valued as high as they were is just ridiculous.
     
  12. opfreak

    opfreak Gawd

    Messages:
    753
    Joined:
    Nov 17, 2005
    how do you lose this much money when you have no physical product to manufacture.
     
    Uvaman2 likes this.
  13. Teenk9

    Teenk9 Gawd

    Messages:
    965
    Joined:
    Jul 22, 2011
  14. jevans64

    jevans64 Gawd

    Messages:
    785
    Joined:
    Jan 26, 2015
    Uber is worth tree-fiddy. I guess the CEO thinks the app that coordinates all the schleps using their own vehicles and fuel to keep this schmuck in riches is worth $100B. The ultimate bubble is about to burst and 99% of the population will be reduced to eating pigeons and bugs.
     
  15. Uvaman2

    Uvaman2 2[H]4U

    Messages:
    2,917
    Joined:
    Jan 4, 2016
    Incredible.
    Losing money in what?
    I mean what is the overhead for them..? Server hardware, electricity and financial transaction fees ? Background checks maybe?
    Shit someone could probably setup an a competing app $1 flat fee per ride , drivers set the ride cost, bidding style ( this is not new in this business).
     
    opfreak likes this.
  16. pfc_m_drake

    pfc_m_drake [H]ard|Gawd

    Messages:
    1,224
    Joined:
    Jan 7, 2004
    As a counter-point, I'll remind everybody that there was this online bookstore called Amazon.com that was founded in 1994, IPO'd in 1997, and didn't turn a profit until 2001 (?).
    So Uber's deal certainly isn't 'unique'.

    As far as their business model - I think it's actually excellent. The pride and utility of owning an automobile certainly isn't what it once was, and society has changed. I work with a guy who is so excited that he literally can't stand himself at the prospect of being able to ditch his car and just summon a ride whenever he needs one with his cell phone (e.g. he's craving the day when these ride sharing services are ubiquitous).

    All of that said, I absolutely *DO* get the point you're all making. And I agree.
    Just floating the counter-point for Devil's advocate.
     
  17. Grimlaking

    Grimlaking 2[H]4U

    Messages:
    2,655
    Joined:
    May 9, 2006
    I actually did think of this. But if you remember at the time Amazon (I think?) came up with some IP to make themselves unique. Of course since then they have grown so much that that original IP has to be worthless or perhaps it's worth trillions who knows any more.
     
    pfc_m_drake likes this.
  18. sfsuphysics

    sfsuphysics I don't get it

    Messages:
    13,660
    Joined:
    Jan 14, 2007
    100 billion.. maybe the amount of liability insurance they are required to keep?

    You know this was just a couple guys looking to cash in on an app because they didn't try to patent the idea, and now they have competition in Lyft
     
  19. Staples

    Staples [H]ardness Supreme

    Messages:
    7,715
    Joined:
    Jul 18, 2001
    I think all the early investors will dump Uber stock too once it is on the open market.
    They are doing that with Lyft because Lyft is not sustainable. Uber's business works very much the same.

    Both their business models are pay the driver more than minimum wage and hope they don't know math and work out what they are really getting paid when they factor in expenses. I am convinced that most people who drive for these either can't do simple math or wouldn't be able to hold a real job so they have to settle for this.
     
    Last edited: Apr 15, 2019
  20. opfreak

    opfreak Gawd

    Messages:
    753
    Joined:
    Nov 17, 2005

    But that online bookstore was actually selling product, and a lot of those 'losses' were due to them investing in expanding their business, you know, the business of selling things, which meant they needed to invest in real estate, product, their online infrastructure, etc etc.

    Whats uber? its an application that links a driver to passenger and handles payments. Why are they having such huge scaling loses? As they grow their costs should be going to zero. Their not even like Instagram, WhatsApp, twitter, etc, sites that need to figure out how to make money off its users & ads.
     
  21. Uvaman2

    Uvaman2 2[H]4U

    Messages:
    2,917
    Joined:
    Jan 4, 2016
    They weren't exactly a loss.. Amazon kept sinking profit back in the company as opposed to parking it in some bank.. (that's what I've gathered last time i looked it up anyway)
     
Tags: