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Chin Strap posted:Most cities have regulations about cabs for exactly this. That is not the reason why cabs are regulated in most cities, to be clear. There is definitely public interest in some regulation of vehicles for hire to ensure that drivers are safe and professional, but in my opinion cab regulation and medallion schemes have mostly been captured by the industry to create cartels and artificially restrict competition and price pressure.
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Dec 10, 2015 19:36
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BEHOLD: MY CAPE posted:That is not the reason why cabs are regulated in most cities, to be clear. There is definitely public interest in some regulation of vehicles for hire to ensure that drivers are safe and professional, but in my opinion cab regulation and medallion schemes have mostly been captured by the industry to create cartels and artificially restrict competition and price pressure. I think all the data would bear that out, yes. Cab companies talk about accessibility only in order to take shots at Uber. If you've ever taken an accessible cab, it's generally a miserable experience.
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Dec 10, 2015 19:50
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All I know is cabs are terrible and unreliable in my area. I once waited 2 hours for one to pick me up at my mechanic during off-peak weekday hours. I only waited that long because I kept calling and was told "ok 20 more minutes" repeatedly, a bus ride with 2 transfers would have taken me an hour. Uber is here now and the longest I've had to wait was 20 minutes at 5 in the morning on a Saturday.
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Dec 10, 2015 19:55
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Puppy Galaxy posted:All I know is cabs are terrible and unreliable in my area. I once waited 2 hours for one to pick me up at my mechanic during off-peak weekday hours. I only waited that long because I kept calling and was told "ok 20 more minutes" repeatedly, a bus ride with 2 transfers would have taken me an hour. Uber is here now and the longest I've had to wait was 20 minutes at 5 in the morning on a Saturday. Yeah it's great for the customer, but awful for the drivers and is not sustainable, that's the point. Eventually what a bad deal it is for the drivers will come to a head; it's easier to see what it's doing to their cars/insurance after they've been doing it a very long time.
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Dec 10, 2015 19:58
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How much more (typically, I guess) would commercial insurance like that cost over vanilla personal coverage?
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Dec 10, 2015 20:03
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Barry posted:How much more (typically, I guess) would commercial insurance like that cost over vanilla personal coverage?
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Dec 10, 2015 20:43
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Nail Rat posted:Yeah it's great for the customer, but awful for the drivers and is not sustainable, that's the point. Eventually what a bad deal it is for the drivers will come to a head; it's easier to see what it's doing to their cars/insurance after they've been doing it a very long time. I really doubt it will just come to a head by spontaneous driver revolt because there will always be people out there willing to work very cheaply, but class action litigation and regulation will make things more difficult. The clock is ticking fast on human driven uber vehicles, though, so eventually the issues will solve themselves.
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Dec 10, 2015 20:50
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Great uber chat.. A+++
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Dec 10, 2015 21:23
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Iron Lung posted:I asked that very question and there was a really long winded answer that I stopped listening too. So driving across states makes the most sense. Bro is running weed from CA to AZ. It's the only logical explanation.
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Dec 10, 2015 21:44
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il serpente cosmico posted:Bro is running weed from CA to AZ. It's the only logical explanation. If you could make it past the omnipresent AZ police traps then it could be very GWM.
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Dec 10, 2015 21:58
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Among many BWM aspects of Uber, Uber's implied valuation based on VC funding is $60-70B. That's more than Ford, GM, Honda, etc. Obviously there's a lot of earnings and not a lot of assets which people used to come to that valuation but it just screams tech bubble to me.
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Dec 10, 2015 22:01
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Weed is going to get delivered in a self-driving car at some point, isn't it
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Dec 10, 2015 22:02
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EugeneJ posted:Weed is going to get delivered in a self-driving car at some point, isn't it Via amazon drone.
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Dec 10, 2015 22:11
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antiga posted:Among many BWM aspects of Uber, Uber's implied valuation based on VC funding is $60-70B. That's more than Ford, GM, Honda, etc. Obviously there's a lot of earnings and not a lot of assets which people used to come to that valuation but it just screams tech bubble to me. I'm trying to save cash for this very reason. A correction can't be too far around the corner, I just need the commercial real estate market to stay strong for another 2 years...
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Dec 10, 2015 22:14
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antiga posted:Among many BWM aspects of Uber, Uber's implied valuation based on VC funding is $60-70B. That's more than Ford, GM, Honda, etc. Obviously there's a lot of earnings and not a lot of assets which people used to come to that valuation but it just screams tech bubble to me. That and $19B for WhatsApp, $2.5B for Mojang, etc... etc.. Valuations for tech/software companies has gotten insane again.
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Dec 10, 2015 23:36
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The New Zealand property bubble is escalating. We just had an OCR reduction from the central bank of 0.25% yesterday despite the Fed lining up for an increase of 0.25% soon. Auckland investors stuck with the 30% equity rule from October have headed to Wellington to invest. Prices are going $150k to $300k above the rateable value. I'm living in one of the areas where the prices are going crazy but all the cheap money around is changing behaviour. http://www.stuff.co.nz/dominion-pos...or-fewer-houses The transition from trying to get a cheap price to desperately trying to stretch finances to buy reminds me of the run up to the 1987 crash. Even I'm starting to get concerned about economic stability. Some have benefited though as I had one excited architect say that he'd sold his house for a really good price. After reading that article I understand why he was so happy now, it wasn't getting an $50k than anticipated happy but something more than that.
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Dec 11, 2015 00:02
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RandomBlue posted:That and $19B for WhatsApp, $2.5B for Mojang, etc... etc.. Valuations for tech/software companies has gotten insane again. You're reasoning about this wrong. These deals are mostly done in stock (not sure about the Mojang deal) so if everyone is inflated then it all washes out. (And if everyone is inflated then there aren't other deals to be found on "uninflated" terms.) Better to reason in terms of percentage of market cap and cash reserves, for the relevant parts of the deal. Whatsapp's acquisition price is about 7.5% of today's FB market cap, not sure what it was at the time of the acquisition (which was about $22B at closing).
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Dec 11, 2015 00:10
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Subjunctive posted:You're reasoning about this wrong. These deals are mostly done in stock (not sure about the Mojang deal) so if everyone is inflated then it all washes out. (And if everyone is inflated then there aren't other deals to be found on "uninflated" terms.) Better to reason in terms of percentage of market cap and cash reserves, for the relevant parts of the deal. Whatsapp's acquisition price is about 7.5% of today's FB market cap, not sure what it was at the time of the acquisition (which was about $22B at closing). The big difference is that this bubble seems to be based around real products this time. I mean, minecraft is wildly profitable and a huge brand at this point. What'sapp does things. Uber does things. Last time it was "Vague idea for a website that doesn't sell anything = 10B".
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Dec 11, 2015 00:22
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RandomBlue posted:That and $19B for WhatsApp, $2.5B for Mojang, etc... etc.. Valuations for tech/software companies has gotten insane again. $2.5 billion for the biggest selling video game in history isn't really terribly outlandish.
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Dec 11, 2015 00:24
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Subjunctive posted:You're reasoning about this wrong. These deals are mostly done in stock (not sure about the Mojang deal) so if everyone is inflated then it all washes out. (And if everyone is inflated then there aren't other deals to be found on "uninflated" terms.) Better to reason in terms of percentage of market cap and cash reserves, for the relevant parts of the deal. Whatsapp's acquisition price is about 7.5% of today's FB market cap, not sure what it was at the time of the acquisition (which was about $22B at closing). Uber is a VC deal, I think airbnb was as well... so those are 'real' implied valuations as near as I can tell.
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Dec 11, 2015 01:12
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antiga posted:Uber is a VC deal, I think airbnb was as well... so those are 'real' implied valuations as near as I can tell. Right, the person to whom I was applying was talking about acquisition valuations, I believe. Some valuations are indeed based on last-transaction FMV, though. (Beware the secondary market!) For VCs it's helpful to reason in terms of "percentage of fund". They have to invest it all in that sector, and Uber is less likely than a randomly-selected pitch to go to zero. In terms of raising their next fund, being in on a successful Uber is higher positive impact than being in on a failed Uber is negatively. Biggest problem with investing in Uber as a VC is that you have to work with Travis.
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Dec 11, 2015 01:40
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SlapActionJackson posted:Pickups have been popular here forever, but the $60K luxotruck is definitely a new beast. I keep waiting for one of the manufacturers to find the market top in this segment and am shocked at how well they do every time they blow through another price barrier. At this rate, the $100K 2021 Platinum Deluxe F150 Brougham appears to be headed for reality. Ask my friend about leasing a $73k f150 platinum with a higher lease payment than my purchased x3  Edit: while having a perfectly functional 2012 not-platinum but oh the rails on the side come out when you open the door!!! rear end coolers! Etc flyboi fucked around with this message at 04:30 on Dec 11, 2015 |
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Dec 11, 2015 04:28
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flyboi posted:Ask my friend about leasing a $73k f150 platinum with a higher lease payment than my purchased x3 All I can imagine is Homer Simpson haggling the lease payment higher.
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Dec 11, 2015 04:34
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Devian666 posted:All I can imagine is Homer Simpson haggling the lease payment higher. The worst is the guy is traveling 75%+ of the year because he works in disaster restoration. His ex drives his car more than him and that was to haul her poo poo out of his house to move out
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Dec 11, 2015 04:36
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Subjunctive posted:You're reasoning about this wrong. These deals are mostly done in stock (not sure about the Mojang deal) so if everyone is inflated then it all washes out. (And if everyone is inflated then there aren't other deals to be found on "uninflated" terms.) Better to reason in terms of percentage of market cap and cash reserves, for the relevant parts of the deal. Whatsapp's acquisition price is about 7.5% of today's FB market cap, not sure what it was at the time of the acquisition (which was about $22B at closing). Sure, it's a lot stock swapping hands, but Facebook paid $5 billion in cash for WhatsApp. For a company that made 20 million the previous year. Facebook probably knows what it's doing. In retrospect, they got Instagram cheaply. Still, it's tough seeing the larger vision when they already had a popular messaging app.
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Dec 11, 2015 04:53
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Krispy Kareem posted:Sure, it's a lot stock swapping hands, but Facebook paid $5 billion in cash for WhatsApp. For a company that made 20 million the previous year. WhatsApp has a user base of 900 Million. Facebook doesn't want a competitor being able to leverage a user base of that size.
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Dec 11, 2015 05:40
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Krispy Kareem posted:Sure, it's a lot stock swapping hands, but Facebook paid $5 billion in cash for WhatsApp. For a company that made 20 million the previous year. Yeah, but we had a fair bit of cash too, and what better to do with it? I think that over time the Whatsapp acquisition will be seen as a very shrewd move, like the IG one is (IMO).
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Dec 11, 2015 06:03
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Nitrox posted:Is that how much they make after he lost that job? Nah, thats what they were making out here when they were living rent free. I think her new salary is somewhere around 70k, but his is obviously zero right now. Confirmed with him that the trouble with CA is that yeah you need a CA license and registration. Everything he says to me about California is what I thought everyone knew about living in California. Since its best state, gotta pay to play the game there I guess! https://www.youtube.com/watch?v=JG7eTJUwPDE
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Dec 11, 2015 06:06
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Anybody got any bad with money stories?
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Dec 11, 2015 16:22
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Moneyball posted:Anybody got any bad with money stories? I paid  for a forum membership once.
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Dec 11, 2015 16:33
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Subjunctive posted:Yeah, but we had a fair bit of cash Hi Mark Z.
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Dec 11, 2015 17:01
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I paid $15 for a boat in a video game. I'll probably do it again. I regret nothing. Someday I'll buy a real boat and I may regret that.
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Dec 11, 2015 17:07
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antiga posted:Among many BWM aspects of Uber, Uber's implied valuation based on VC funding is $60-70B. That's more than Ford, GM, Honda, etc. Obviously there's a lot of earnings and not a lot of assets which people used to come to that valuation but it just screams tech bubble to me. Do you have information about Uber's business and financials to make that judgement or does it just seem like a super big number to you?
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Dec 11, 2015 18:07
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Noggin Monkey posted:I'm trying to save cash for this very reason. A correction can't be too far around the corner, I just need the commercial real estate market to stay strong for another 2 years... There's always a correction coming, the trick is correctly guessing how many months or years until it comes. Tl;dr market timing is dumb
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Dec 11, 2015 18:08
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Moneyball posted:Anybody got any bad with money stories? My facebook friend's fancy cafe/community center opens on the 18th and he's already maxed out five credit cards for it and is really excited about it. I'm not sure what his plan is as far as "breaking even" is right now, let alone paying down 50k of debt at a 20%ish interest rate, but aren't restaurants/small businesses in general expected to operate in the red for the first year or so, even when they're doing well?
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Dec 11, 2015 21:23
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Inept posted:Hi Mark Z. Subjunctive is actually Sheryl Sandberg.
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Dec 11, 2015 21:24
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I just remembered that I got to watch my old boss light over a quarter million dollars on fire in under 6 months while opening, and subsequently closing, a restaurant.
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Dec 11, 2015 22:08
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Nocheez posted:I just remembered that I got to watch my old boss light over a quarter million dollars on fire in under 6 months while opening, and subsequently closing, a restaurant. He got off easy, most restaurants lose a lot more than that before the owner comes to their senses. Opening a (restaurant/bar/coffee shop/brewery) is BWM.
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Dec 11, 2015 22:33
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BEHOLD: MY CAPE posted:Do you have information about Uber's business and financials to make that judgement or does it just seem like a super big number to you? Nope, and I said in my post that there are surely financial justifications based on the current earnings and projected future earnings. If someone asked me to invest my own dime in Uber my first reaction would be concern about how exposed they are to lawsuits. Uber is one big decision about their drivers being employees vs. contractors or one really good taxi and limousine commission lobbying effort away from being in a heap of trouble. To me it sounds too similar to the dot-com bubble for comfort (where projected earnings and valuations of anything.com were out of control). If I was looking at the company as a VC the rules would be different as a previous poster mentioned. EDIT: I would wish running a restaurant on my worst enemies. Grueling work and hiring/retention must be awful. antiga fucked around with this message at 22:41 on Dec 11, 2015 |
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Dec 11, 2015 22:38
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Nail Rat posted:He got off easy, most restaurants lose a lot more than that before the owner comes to their senses. Opening a (restaurant/bar/coffee shop/brewery) is BWM. That post about the Coffee Shop Opening Experience and Timeline is loving professional grade, and I can't find it.
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Dec 11, 2015 23:55
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