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Fri May 10, 2019, 02:18 PM

Uber's Stock Disappoints, Capping a Rocky Path to Its I.P.O.

Source: New York Times

Over the past decade, Uber changed urban transportation, disrupted entrenched taxi industries, defied regulators the world over and beat back questions about how it was altering the nature of work.

On Friday, it was tamed by Wall Street.

The ride-hailing giantís first day of trading on the New York Stock Exchange began with a drop of almost 7 percent from its initial public offering price of $45. Uber raised $8.1 billion and its I.P.O. valuation of $82.4 billion made it one of the most valuable companies to go public in the United States, but that was far less lofty than had been anticipated before it began pitching its shares to investors.

Read more: https://www.nytimes.com/2019/05/10/technology/uber-stock-price-ipo.html

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Reply Uber's Stock Disappoints, Capping a Rocky Path to Its I.P.O. (Original post)
brooklynite May 10 OP
MrModerate May 10 #1
wasupaloopa May 10 #3
SergeStorms May 10 #4
MrModerate May 12 #7
PoliticAverse May 10 #2
oldlibdem May 11 #5
Cal Carpenter May 11 #6

Response to brooklynite (Original post)

Fri May 10, 2019, 02:27 PM

1. Yeah, 20,000 techies at HQ are made rich . . .

While hundreds of thousands of Uber drivers make less than their local minimum wage. Now that's a growth industry.

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Response to MrModerate (Reply #1)

Fri May 10, 2019, 02:39 PM

3. I would chose to not be a Uber driver

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Response to MrModerate (Reply #1)

Fri May 10, 2019, 06:26 PM

4. I rode with Uber once...

and talked to the driver about how much of the money he got to keep, how much he made a year etc. He was very honest, and I was floored by how Uber drivers are fleeced by Corporate. I gave him a $20 cash tip for a $39 ride. Next time I checked my emails Uber wanted me to "give the driver a tip". I'm sure they'd take a cut out of that as well if I did it on-line. At the very least the drivers tips will be recorded on his W-2 and be taxed. That's why the cash tip. No electronic footprint. I have not, and will not, use Uber again. Screw them!

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Response to SergeStorms (Reply #4)

Sun May 12, 2019, 10:25 AM

7. Uber and Lyft are asking consumers . . .

To subsidize the destruction of the traditional taxi industry while they figure out how to make driverless cars they don't currently have, pay.

It may be the wave of the future/the reality of the present, but I don't think I'll play.

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Response to brooklynite (Original post)

Fri May 10, 2019, 02:38 PM

2. The first line should have added ", lost billions of dollars". n/t

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Response to brooklynite (Original post)

Sat May 11, 2019, 02:40 PM

5. The scams people fall for just amaze me!......

No company provided taxi. No livery license. Minimal backround check, and make less then minimum wage?!

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Response to oldlibdem (Reply #5)

Sat May 11, 2019, 06:09 PM

6. The people I know who drive for Uber are not falling for a scam

They are desperate to keep a roof over their heads and have virtually no other options. When they started, the pay was much higher, and it has been chipped away incrementally over the last few years.

Blame the victims of this hellish economy and it's vulture-like companies if you want to, but I won't do it and I have to speak up when I see it.

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