3 ms·

This will sound very naive (because it is), but I thought that the free market would see through the bullshit and value them appropriately. That is happening, j

• zanny 7y ago
  The valuation was largely over the general hype for self-driving vehicles. Those who thought they were imminent must have just been ignorant to how slow regulation moves and how risk averse corporations are to the potential fallout of being "first to market" with a self driving car that ends up with someone dead regardless of fault. As the hype dies down so does Ubers market cap.
  • ghaff 7y ago
    You also had a bunch of execs/founders in SV particularly trying to outcompete each other in their claims about how soon autonomous vehicles were going to arrive. This combined with tech that got to the point where it at least demoed well and a lot of people who really wanted to believe they'd never have to drive a car fell for it hook, line, and sinker. There will certainly be regulatory and liability issues to work through but if the tech were really ready for prime time I actually don't believe those those are showstoppers.
• asdf333 7y ago
  at least its happening. you could argue that uber's insane valuations before were due to deluded vcs (non-free-market) now that its a publicly traded company and its financials are transparent to investors, the free market is doing what it is supposed to do.