https://www.bloomberg.com/news/articles/2018-12-08/uber-is-said-to-file-confidentially-for-initial-public-offering
uber files for IPO
of course there's up and downs all the time. i check tesla shares a lot and the volatility is mental. faebook and apple especially look less like random noise and more like trends though.
Chthonic_Goat_666 posted:tears is probably a lot more up-to-date on this but from their respective highs amazon shares are down about 25%, apple down 30%, facebook down 40%. dow jones is at its lowest in a year...
of course there's up and downs all the time. i check tesla shares a lot and the volatility is mental. faebook and apple especially look less like random noise and more like trends though.
its cool to laugh at tesla, which this thread is about obviously, but the movements in the market are so massive right now that tesla is just some wierd scummy side note, if u want the real shit mainline FAANG and semiconductor manurfacturer share prices
this is the shit for my daily watching: https://markets.wsj.com/
picking out things to look at: DJIA is just like 30 companies, its interesting but the small sample size makes it wavy, for the US: S&P500 for top US corps, Russell 2000 for smaller buisinesses; NASDAQ is worth looking at because its the tech heavy index + barrons 400; the DJ transport average is a good one to watch because transport is key to commodity circulation, and PHLX semiconductor because semiconductors are like the underpinning of dying imperialism. - when semiconductors go down u know that things are....scary
Edited by tears ()
ilmdge posted:Everyone is laughing at the Boring Company's weird single lane underground rail that you can put a Tesla car on and go 50mph. We are all laughing at Elon Musk's big dumb nonsense. It's very funny the stupid thing that Elon Musk's Boring Company has built in LA.
same
tears posted:Chthonic_Goat_666 posted:tears is probably a lot more up-to-date on this but from their respective highs amazon shares are down about 25%, apple down 30%, facebook down 40%. dow jones is at its lowest in a year...
of course there's up and downs all the time. i check tesla shares a lot and the volatility is mental. faebook and apple especially look less like random noise and more like trends though.its cool to laugh at tesla, which this thread is about obviously, but the movements in the market are so massive right now that tesla is just some wierd scummy side note, if u want the real shit mainline FAANG and semiconductor manurfacturer share prices
this is the shit for my daily watching: https://markets.wsj.com/
picking out things to look at: DJIA is just like 30 companies, its interesting but the small sample size makes it wavy, for the US: S&P500 for top US corps, Russell 2000 for smaller buisinesses; NASDAQ is worth looking at because its the tech heavy index + barrons 400; the DJ transport average is a good one to watch because transport is key to commodity circulation, and PHLX semiconductor because semiconductors are like the underpinning of dying imperialism. - when semiconductors go down u know that things are....scary
cheers. tesla and uber are fun to watch because of The Grift and The Bezzle but i think as we head into a fresh crisis its probably more important for me to keep tabs on Oil, or whatever else is fundamental to the capitalist economy. thanks for the tips on what to watch
Edited by Chthonic_Goat_666 ()
Chthonic_Goat_666 posted:
Makes u think...
this is like the pentagon papers for terminally online millennials pic.twitter.com/KyPUCeqpJY
— smith college sword girl (@ldrinkh20) January 6, 2019
decent article on tesla's recent layoffs and the debts coming due soon.
uber (and local alternatives such as cabify) have had their operations hobbled continuously as a result of legal maneuvering around injunctions placed on them by local government seeking to limit their reach and pacify local taxi unions. recent concessions from the government of barcelona, with a view to move the situation out of limbo, have set to regulate their use with the condition that all rides must be booked no less than 15 minutes in advance. this has not been close to minimum the unions were happy to tolerate and as a result they have begun an indefinite strike since friday, with some main arteries of the city completely blocked by taxis parked there overnight, attacks on uber drivers vehicles, protests at government buildings and key infrastructure. taxi drivers in madrid have begun the same tactics in solidarity. adherence to the strike is near 100%, scabs are not treated favorably. lots of yellow jackets in view at protests but no v for vendetta masks.
*takinga huge bong rip, exhaling into a mirror* funding secured
tears posted:im considering taking this forum private at, wait for it, 420 dollars
*takinga huge bong rip, exhaling into a mirror* funding secured
most EV's have dedicated battery heaters. the model 3 does not. it attempts to use the motor to heat the battery. this likely seemed like a clever way to reduce cost and complexity.
— el gato malo (@boriquagato) January 26, 2019
it turns out to be a massive failure. this system simply does not work when it gets cold pic.twitter.com/WeVTuLlo6g
http://ir.tesla.com/static-files/0b913415-467d-4c0d-be4c-9225c2cb0ae0
hopefully there will be some good articles on it in the coming week or so, because there's no good reporting i can find today.
next big news for tesla should be the 920 million dollars of debt in march
Uber Q4 financials
— Eric Newcomer (@EricNewcomer) February 15, 2019
Q4 2018
Bookings: $14.2B
Net revenue: $3B
GAAP Loss: ($865M)
865 million dollar loss in Q4 2018
https://www.nakedcapitalism.com/2019/02/hubert-horan-can-uber-ever-deliver-part-seventeen-ubers-2018-results-still-show-huge-losses-slowing-growth-ipo-approaches.html
i guess the next thing to really look for is the lyft and uber ipos, and the more detailed financial info that has to be filed with the SEC before they go public.
weird detail from this bloomberg article
https://www.bloomberg.com/news/articles/2019-02-15/uber-results-show-revenue-growth-slows-amid-persistent-losses
While the data provides a window into Uber’s operations, there are still plenty of ways to look at Uber’s massive cash burn, and some financial details are still opaque. For example, Uber had a tax windfall in the fourth quarter that it didn’t explain, but that was responsible for reducing its fourth quarter losses from $1.2 billion to $865 million, according to generally accepted accounting standards.
SEC going after Musk again
In a major shift, Tesla announced that it will only sell its vehicles online. The electric carmaker will close most of its stores over the “next few months” and lay off some retail employees. Tesla announced the move at the same time it said it will finally begin to sell its long-promised $35,000 Model 3.
Uber and Lyft are reportedly planning to give some of its drivers cash bonuses with the intent that those drivers would then be able to use the cash to purchase stock in the two companies’ respective impending IPOs, according to a new report from The Wall Street Journal.
It’s a complicated workaround to a unique problem facing the ride-sharing companies, who can’t grant stock to their drivers due to Securities and Exchange Commission rules that prevent giving private company stock shares to contractors, who technically aren’t considered full-time employees under the law. And while the SEC has requested comments from companies as to whether or not it should change that rule, it’s unlikely that even with the support of Uber, Lyft, and Airbnb that those changes would arrive in time.
By granting the drivers cash bonuses with the option to put it towards shares — drivers can also choose to simply keep the money — Uber and Lyft are giving drivers the chance to invest in (and reap some of the profits, should there be any) the company at IPO prices, without directly granting them stock.
i'd keep the cash. lyft ipo is coming real soon, mid-March i think.
tangentially related but i didnt want to make a thread for it
swampman posted:yo cg did you see this https://www.hollywoodreporter.com/thr-esq/fox-rocked-by-179-million-bones-ruling-lying-cheating-reprehensible-studio-fraud-1190346
tangentially related but i didnt want to make a thread for it
that's interesting, iirc hulu is a money-loser too so they'd be losing even more money if they were being charged market prices for tv shows and studios were paying the stars/writers/etc more.
Despite booking $2.2 billion worth of revenue on $8.1 billion worth of rides and other sales in 2018, Lyft also lost $911 million. That was up from 2017, when it recorded a net loss of $688 million, and from 2016, when its net loss came to $683 million. Adding that all up gives you a net loss of $2.3 billion over the past three years.
Even more pressing, Lyft could run out of money. The company had $1.1 billion in cash and cash equivalents at the end of 2017. By Dec. 31, 2018, that stockpile had shrunk to $518 million, and competition with Uber is unlikely to get any easier. “We believe our existing cash and cash equivalents will be sufficient to meet our working capital and capital expenditures needs over at least the next 12 months,” Lyft offers in its prospectus.
The company will raise money with its public offering—that, after all, is one of the reasons why startups go public—but it seems safe to say its current rate of spending is not sustainable, and that profitability remains a long way off.
from here: https://qz.com/1563655/lyft-ipo-filing-shows-a-history-of-losses-and-no-clear-path-to-profitability/
https://www.sec.gov/Archives/edgar/data/1759509/000119312519059849/d633517ds1.htm
interestingly under "risk factors" lyft admit that "we may not be able to achieve or maintain profitability in the future" yet i can't see any reckoning with why they've lost massive amounts in the first place (i.e. massive subsidies to riders without any gains in efficiency compared to traditional taxis). they're also still repeating corporate techno-optimist junk like:
We believe that cities should be built for people, not cars. Mass car ownership in the twentieth century brought unprecedented freedom to individuals and spurred significant economic growth. However, in the process, city infrastructure became overwhelmingly devoted to cars. Roads and parking lots have replaced too much green space. Mass car ownership strains our cities and reduces the very freedom that cars once provided.
Car ownership has also economically burdened consumers. U.S. households spend more on transportation than on any expenditure other than housing.1 In the United States alone, consumers spend over $1.2 trillion annually on personal transportation.2 On a per household basis, the average annual spend on transportation is over $9,500, with the substantial majority spent on car ownership and operation.3 Yet, the average car is utilized only five percent of the time and remains parked and unused the other 95%.4
iirc there's no evidence that rideshare decreases traffic congestion and infact evidence seems to point to the opposite:
https://www.npr.org/2018/08/01/634506179/ride-hailing-services-add-to-traffic-congestion-study-says
i wonder if the SEC could in theory hold lyfts feet to the flame regarding misleading claims like that in future? those are just a couple noticeable things i saw, i didn't really go through it with a fine-tooth comb or anything.
apparently lyft hopes to raise at least 100 million with their IPO, which seems like a low bar to hurdle, it would buy them a couple extra months at best lol. interested to see how much they end up getting.
Edited by Chthonic_Goat_666 ()