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LOL Drivers are celebrating Uber/Lyfts poor IPO performances

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bob
171 Rider
 Posted 4 months ago

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Feels good to stick it to the man, huh?


https://www.nbcnews.com/tech/tech-news/burn-baby-burn-some-drivers-happy-see-uber-lyft-shares-n1006341

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    joeyj
    424 Driver Rider
     4 months ago

    It might feel good, but it's not. The market is craving profitability for these companies. It is a stark message. And I guarantee you, getting to profitability will not involve paying drivers more money...

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    GregShield
    7
     4 months ago

    I read that Dara wrote a letter to his employees today re the poor share prices. See Below.

    "Obviously our stock did not trade as well as we had hoped post-IPO. Today is another tough day in the market, and I expect the same as it relates to our stock.

    But it is essential for us to keep our eye on the long-term value of Uber for our customers, partners, drivers and investors.

    Every stock is valued based on the projected future cash flows/profits that the company is expected to generate over its lifetime. There are many versions of our future that are highly profitable and valuable, and there are of course some that are less so. During times of negative market sentiment, the pessimistic voices get louder, and the optimistic voices pull back.

    We will make certain that we communicate our incredible value as a company that is changing the way the world moves, but also the value that we are building for our owners. But there is one simple way for us to succeed – focus on the work ...

    Read more...

    I read that Dara wrote a letter to his employees today re the poor share prices. See Below.

    "Obviously our stock did not trade as well as we had hoped post-IPO. Today is another tough day in the market, and I expect the same as it relates to our stock.

    But it is essential for us to keep our eye on the long-term value of Uber for our customers, partners, drivers and investors.

    Every stock is valued based on the projected future cash flows/profits that the company is expected to generate over its lifetime. There are many versions of our future that are highly profitable and valuable, and there are of course some that are less so. During times of negative market sentiment, the pessimistic voices get louder, and the optimistic voices pull back.

    We will make certain that we communicate our incredible value as a company that is changing the way the world moves, but also the value that we are building for our owners. But there is one simple way for us to succeed – focus on the work at hand and execute against our plans effectively.

    Remember that the Facebook and Amazon post-IPO trading was incredibly difficult for those companies. And look at how they have delivered since.

    Our road will be the same. Sentiment does not change overnight, and I expect some tough public market times over the coming months. But we have all the capital we need to demonstrate a path to improved margins and profits. As the market sees evidence, sentiment will improve, and as sentiment improves, the stock will follow. We will not be able to control timing, but we will be able to control the outcome."

    Read less...

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    davescully
    35
     4 months ago

    In the end if Uber and Lyft tank its going to hurt the drivers too...