Context is missing...they priced at the floor of their range and closed 5% lower. Thats notable. It’s more about the broader market outside of SV really bringing a healthy skepticism to a unsustainable business model.
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What's notable is how some people are keen to judge a 10 year old company on one day of trading
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Today’s performance means nothing in the long run. Uber will be judged on what they do over the next 5-10 years. In the meantime kudos to the Uber team for what they’ve been able to accomplish.
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And also proves something important. Except about speaker, rather than Uber.
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It is memorable though because it is one of the worst performing IPO's in history. $617M lost in one day. https://twitter.com/RolfeWinkler/status/1126949689679441920 …
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Also ignoring the fact that this company went from being a concept to an $80 Billion global company in 10 years, and went public on a day when the markets were dealing with trade wars anyway, but why let any of that matter ;)
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Yeah we have a clip of Series A investors who only made 1000x returnspic.twitter.com/xUVE38eK4n
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Which was the whole reason to IPO at 10 years - liquidity event
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If it hits $30B I would love a very loud notification sent to my IPhone so I can prepare for the death of tech.
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