The worst part of Uber's situation is that they have priced themselves out of any reasonable path to further fund raising. Even a successful IPO would be a huge

The worst part of Uber's situation is that they have priced themselves out of any reasonable path to further fund raising. Even a successful IPO would be a huge down round. I've never understood how valuations computed from white powder are strategically in the best interest of... anyone? Maybe someone more clueful about the nuances of VC can enlighten me. Even if Uber can make the Google suit and the harassment culture go away, I still don't see how they can ever justify that valuation. Every car company is about to ship (or has) some form of auto drive and there are no strong barriers to competing with Uber on ride sharing. Transportation is a commodity. How's Lyft doing?