Media coverage of tech is often bad, but it’s at its absolute worst on day 1 of an IPO
There are exactly zero passably competent private market investors who are rethinking their strategies after one day of public market trading, but it is interesting to see how eager journalists are to will their fantasies alive.https://www.theinformation.com/articles/ubers-disappointing-public-debut-sobering-up-silicon-valley …
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Media coverage is often bad, but it’s at its absolute worst on day one of an event.
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What return did The GI Bill, or lower cost energy via solar panels generate ?
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I’m not following the logical leap here...?
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People are so used to saying “Uber and Lyft” they forget that the two are radically different businesses. Single product/single country (Lyft) vs. multi product/global business (Uber). Journalists will be publishing very different stories soon, I suspect.
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An IPO pop/dip is mostly determined by where it was priced. It says very little about a company’s long term prospects (see Facebook)
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Facebook was profitable when IPO, along with healthy margins. Not so for Uber
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Lots of ridiculous click-bait headlines coming from the media. It took 10 years to build
@Uber. To think one day of trading makes or breaks the potential of this company is laughable.Thanks. Twitter will use this to make your timeline better. UndoUndo
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For those of us old enough to remember, journos said the exact same thing after FB IPO. Was laughably wrong.
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Agreed that one day is a meaningless data point. However, I wouldn’t be surprised if VC/PE investors appetite for $50B+ valuations of companies that lose money decreases. I think we will see Co’s like Uber access the public markets sooner going forward.
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