@notabene @yogthos

The irony will seep through the entire technosphere when Uber formalizes its IPO share price in the next couple of weeks.

Reports say Uber plans to seek an initial market valuation of $90bn~$100bn, i.e., Uber could become the 30th most VALUABLE company listed on a US exchange, topping ConocoPhillips and General Electric. 😲 It would also be larger than the two Wall Street banks leading its IPO, Morgan Stanley and Goldman Sachs.

@notabene @yogthos

That's the modus operandi of Silicon Valley: disrupt everything, create monopoly, and let software eat the world.

#technocapitalism #venturecapital #HypeMachine #platformcapitalism #humanism

@dazai @yogthos Yeah, but I can see how Facebook still earns big money, but Uber won't in most countries.
It's incredible to think VC will fall for this.

@notabene @yogthos
VCs will continue to adore Uber like the emperor's new clothes... until reality eventually catches up to the hype and everyone realizes the emperor has no clothes. But by then, the smart VCs will have already taken cashed out.

@dazai @yogthos Ah yes, I always forget about their short-term take-the-money-and-run approach.
This is so toxic.

@notabene @yogthos

Indeed. VCs are always out for exorbitant returns within a short time horizon. It forces companies into binary exits: acquisition or IPO. The third option is bust. It's toxic and unsustainable.

That's why many startups have begun to tell VCs to go f*** themselves.

nytimes.com/2019/01/11/technol

@notabene @yogthos

Lasy year Wall Street told Uber it could fetch a $120bn valuation in its IPO. According to a footnote in Uber's IPO registration doc, Uber's CEO stands to make a _boatload_ of money (via stock options from his original employment contract) if Uber maintains an average fully-diluted valuation of $120bn+ over a period of 90 consecutive trading days.

sec.gov/Archives/edgar/data/15

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@yogthos

If you whole buisness plan is to hope your workers get outmoded, you suck and you deserve to fail.

@Roxxie_Riot @yogthos It is the ultimate goal of every programmer and sysadmin to replace yourself with a script.
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