should really start looking at this from the underwriter and issuer perspective to understand the success story here. Retail buys ticker symbols that have been marketed to them. Everyone else dumps. Company made a ton of money and can do whatever it wants with it, they gain nothing from secondary market trading today. VCs, founders and employees can't sell for another 60-90 days, but founders can give themselves big bonuses (and employees too but I mean.. lets be honest)
Thats interesting definition of "literally traded a bunch of shares to underwriters in exchange for $8,100,000,000 and let the underwriters worry about liquidity on the stock exchanges"
Uber has dollars for the shares they sold. Liquidity is not a concern for the party of the transaction I talked about.
Sure, you can argue that the $8.1B is something "real" that the owners of Uber have more of, afterwards.
But you also have to acknowledge that the business of running Uber is also something "real" that the owners of Uber have less of, afterwards, having traded it in a heavily-scrutinized auction.
In this case Uber Inc exchanged illiquid stock for liquid dollars.
Why the semantical debate? Did the use of the word “make” really bother you? What about when there is dilution like in most funding rounds? Shares of equivalent value are literally made. In this IPO Im not sure if that happened with the sale to the underwriters or not.
This kind of asset exchange is what we are all trying to do, exchange one asset for a more liquid one, dollars. They succeeded in doing that to the tune of 8.1 billion usd. The same us dollars that give access to everything in the global financial system via wire transfer.