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Noahpinion's profile
Noah Smith
Noah Smith
Noah Smith
Verified account
@Noahpinion

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Noah SmithVerified account

@Noahpinion

Bloomberg Opinion writer. Elected "top neoliberal shill" of 2018. Occasionally posts anime gifs.

San Francisco, CA
bloomberg.com/view/contribut…
Joined April 2011

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    1. Noah Smith‏Verified account @Noahpinion Oct 16

      Noah Smith Retweeted Christopher Mims  🎆

      $120 billion for Uber??? HAHAHAHAHAHAHAHAHA ...and yet people will probably buy ithttps://twitter.com/mims/status/1052241256724738048 …

      Noah Smith added,

      Christopher Mims  🎆Verified account @mims
      If Lyft is going to go public at $15 billion and Uber at $120 billion what's the actual value of a global ride sharing company? Seems we have an order of magnitude disagreement brewing. https://www.wsj.com/articles/lyft-picks-underwriters-for-ipo-in-2019-1539707979?mod=hp_lead_pos2 … https://www.wsj.com/articles/uber-proposals-value-company-at-120-billion-in-a-possible-ipo-1539690343?mod=hp_lead_pos1 …
      20 replies 25 retweets 162 likes
      Show this thread
      Noah Smith‏Verified account @Noahpinion Oct 16

      I shouldn't be laughing. What will actually happen is that your retirement fund will buy this, directly or indirectly. It will collect a fee for doing so. When Uber stock goes down, your nest egg will take the loss. And Uber's founders will walk away with your money.

      10:48 AM - 16 Oct 2018
      • 70 Retweets
      • 238 Likes
      • YCMIU Meh 'LEARNINGS' ISN'T A WORD Hooptedoodle Andrew Mcdonnell Philip Terzic Gavin Sidebottom Mark Larson S. Garf
      22 replies 70 retweets 238 likes
        1. New conversation
        2. Noah Smith‏Verified account @Noahpinion Oct 16

          Note: Yes there is some possibility that the price will go up and Uber is actually worth more than $120 billion. Can't rule it out!pic.twitter.com/SUy6CiYzIi

          8 replies 8 retweets 47 likes
          Show this thread
        3. Noah Smith‏Verified account @Noahpinion Oct 16

          https://www.bloomberg.com/view/articles/2018-10-16/uber-ipo-120-billion-valuation-doesn-t-make-it-a-real-company?srnd=opinion …

          1 reply 6 retweets 23 likes
          Show this thread
        4. End of conversation
        1. New conversation
        2. Michael Anderson‏ @Michaelander45 Oct 16
          Replying to @Noahpinion

          Invest in Index funds

          1 reply 0 retweets 6 likes
        3. Joe Smith  🇨🇦‏ @joesmith323 Oct 16
          Replying to @Michaelander45 @Noahpinion

          At a $120B valuation, it will be in the S&P 500 index.

          1 reply 0 retweets 4 likes
        4. Higgs‏ @DiracWinsAgain Oct 16
          Replying to @joesmith323 @Michaelander45 @Noahpinion

          1) It won't be added the instant that it goes public. 2) It may go to zero, which will have a roughly negligible impact (0.5%) if it is even added to the S&P 500 @ 120 Billion.

          0 replies 0 retweets 1 like
        5. End of conversation
        1. Adam Singer‏Verified account @AdamSinger Oct 16
          Replying to @Noahpinion

          pic.twitter.com/qDm5OZFcoG

          0 replies 0 retweets 7 likes
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        1. New conversation
        2. Palooka_Joe‏ @Palooka_Joe Oct 16
          Replying to @Noahpinion

          401ks are the dead- money financiers and hedge-fund managers feast upon.

          1 reply 1 retweet 3 likes
        3. Higgs‏ @DiracWinsAgain Oct 16
          Replying to @Palooka_Joe @Noahpinion

          Daily reminder that dead money has outperformed the vast majority of living fund managers over the last 100 years. (See the ING corporate leaders trust)

          1 reply 0 retweets 0 likes
        4. Palooka_Joe‏ @Palooka_Joe Oct 16
          Replying to @DiracWinsAgain @Noahpinion

          Over the long-term dead money wins. Over the short-term, financiers win, for a bit, then cocaine wins.

          0 replies 0 retweets 0 likes
        5. End of conversation
        1. David Robinson‏ @drob Oct 16
          Replying to @Noahpinion

          Didn't they say that about the Facebook IPO at $104B (now $455B?)

          0 replies 0 retweets 2 likes
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        1. BonelessGenderBucket‏ @norintha Oct 16
          Replying to @Noahpinion

          And Uber still hasn't turned a profit yet, correct?

          0 replies 0 retweets 2 likes
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        1. adrian hsieh  🚀‏ @accidentalflyer Oct 16
          Replying to @Noahpinion

          Yeah but think about how many case studies, business articles and non-fiction books this will lead to when the Uber bubble finally bursted? There were kids who could afford college because their parents wrote about Enron.

          0 replies 0 retweets 1 like
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        1. David Smith‏ @dtsmith_sydney Oct 16
          Replying to @Noahpinion

          Wasn’t that always the plan?

          0 replies 0 retweets 1 like
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        1. ssgslack‏ @ssgslack Oct 16
          Replying to @Noahpinion

          What if Uber is the next Amazon?

          0 replies 0 retweets 1 like
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        1. Yali Elkin‏ @yalielkin Oct 16
          Replying to @Noahpinion

          Don't forget the bankers.

          0 replies 0 retweets 1 like
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        1. New conversation
        2. Macro Economist‏ @justmacro Oct 16
          Replying to @Noahpinion

          fwiw, I think most indexes used by index funds wait a while to include stocks with IPOs: https://www.wsj.com/articles/why-index-funds-have-a-limited-presence-in-the-ipo-market-1504577040 …. also, if they're float-weighted then much of the $120 billion will be excluded.

          1 reply 0 retweets 1 like
        3. TeD‏ @tdubey Oct 16
          Replying to @justmacro @Noahpinion

          Most of the tracked indices are market cap weighted.

          1 reply 0 retweets 0 likes
        4. Macro Economist‏ @justmacro Oct 16
          Replying to @tdubey @Noahpinion

          almost always adjusted for free float, no? https://advisors.vanguard.com/VGApp/iip/advisor/csa/investments/benchmark/equitymethodology …

          1 reply 0 retweets 0 likes
        5. 1 more reply
        1. Jordan Amdahl‏ @jrdnmdhl Oct 16
          Replying to @Noahpinion

          So like a cryptocurrency, but better for the environment?

          0 replies 0 retweets 0 likes
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