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It turns out that selling things for less than it costs is a bad business model.
by jsnider3 7y ago
It turns out that selling things for less than it costs is a bad business model.
- jjeaff 7y agoFor those in charge, it probably worked great. VCs likely dumped their shares on the secondary market right before or after the IPO. (thus completing the "dump" portion of the traditional "pump and dump" scam.)
- raiyu 7y agoWith the number of board members resigning post IPO there is a high chance that many shares will be sold once the lock up expires. They wouldn't sell before the IPO as would depress the stock price significantly.
- TazeTSchnitzel 7y agoThe goal is to kill the competition through underpricing and then hike prices, right? Did the killing competition bit fail?
- jsnider3 7y agoLyft still exists. Also, it would be trivial for someone to just create their own taxi company if the prices get too high.
- ninedays 7y agoYou should tell that to Jeff Bezos.