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im gay posted:Are there any detailed writings by economists about it? I keep hearing it is going to happen, yet these companies continue to be held up by imaginary money. The money is certainly real. For some reason billionaires don't want to wait for their portfolios to go up 3% a year, they want to gamble millions on companies with no business plans or in some cases revenue in the hopes that they become the new Facebook. For example, let's take Robinhood. It's an app that gives commission-free stock trading in order to revolutionize retail investing or something while couching it in vaguely revolutionary terms. Well, how does it make money with no commissions and no ads? More venture capital, so it can get more users and gain more venture capital so it can get more users. They've raised $66 million in last year with no revenue other than the interest gathered on the money in their brokerage.
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Aug 25, 2015 00:45
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Yeah, the real poisonous part of this tech bubble is the continued erosion of workers' rights what with the push for a "new" definition of worker because the old ones are dumb and obsolete thanks to the internet. 1099 contracting and holding 4 app jobs at once just means you're a TECH WORKER.
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Aug 25, 2015 04:34
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nerdz posted:What happens to uber if they ever stop using VC to prop up they quality of service. Or worse, what happens when uber becomes a monopoly? They've been doing lots of shady underhanded stuff to lyft and whoever is a local competition. Uber, even with creative accounting, lost $470 million last year...
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Sep 8, 2015 12:51
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http://www.bloomberg.com/news/articles/2015-12-03/uber-raises-funding-at-62-5-valuation Uber just raised $2 billion on a $62.5 billion valuation. That's several times the value of the entire US taxi industry and it's based on bullshit: quote:For Uber’s current round, the company is telling investors it has a gross revenue run rate of more than $10 billion globally, people familiar with the matter said. The number is typically calculated by annualizing a recent week, month, or quarter of the company's gross revenue, which means actual annual revenue may differ substantially. The number doesn’t reflect expenses, and it includes money paid out to drivers, who take most of that revenue. Uber has increased actual U.S. gross revenue about 200 percent this year, the people said.
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Dec 3, 2015 20:43
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Is looking to raise, sorry. But they won't have any trouble getting it.
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Dec 3, 2015 23:00
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