Remember that we've been here before: Groupon actually ended up BEING a straight-up ponzi scheme that is now worth a small % of what it IPO'd for as a conglomer

Remember that we've been here before: Groupon actually ended up BEING a straight-up ponzi scheme that is now worth a small % of what it IPO'd for as a conglomerate of all of its competitors (LivingSocial, etc.). And do not forget that some % of folks driving for Lyft and Uber are doing so in cars that are financed with subprime debt. https://usa.streetsblog.org/2019/02/13/americas-car-centric-transportation-policies-are-driving-us-to-ruin/ https://usa.streetsblog.org/2019/02/13/americas-car-centric-... $1-1.5 T in auto debt is not 2008 subprime mortgage debt, but it's important to remember that a real tie-in to the publicly-chartered banking system exists here beyond whatever LPs put into VC funds. How I see this playing out, post-ipos: Wall Street will demand profits, Uber/Lyft will raise fares because it's the only thing they can do, fewer riders will use the apps, causing fewer drivers to drive -- they will have to walk away from their car loans. GMAC will need to be bailed out again.