Congrats to all the investors and employees who were able to cash out before whenever. Everyone else is about to get very, very angry.
In alight with the disappointing Q2 even after Q1 due to their IPO cost, soon the most hyped IPO of the year is now turning into a nightmare for everyone else.
It sounds like the IPO party was over before it had even started.
It's bizarre to see such a blatant scam being run out in the open. People used to have shame.
Uber faces lower costs, and they have scale which allows them to have better targeted offers, surges, and advertising.
I noticed that they spent $3B in R&D last quarter. Presumably a lot of that is going into driverless vehicles. Exclude half of that cost, and exclude their one time IPO related costs, and they're profitable.
If that's really happening, nobody told me. I had two interviews this week and another one scheduled two weeks from now. And last I heard, my team got approval to increase headcount by 2.