Uber has a higher valuation than half the S & P 500

scott

http://www.zerohedge.com/news/2014-06-06/uber-now-has-higher-valuation-seagate-chipotle-autozone-alcoa-and-half-sp-500

Old_Joe

Scott- I think that it might just be a little unfair to compare an operation like Uber, with a well-established track record, an unbreachable moat around it's domain, and an incredible history of profits and return, to previous enterprises of the tech boom/bust. Surely this time is different!

OJ

JohnChisum

There is the old saying that when the taxi driver and people at work are telling you to buy Uber, perhaps that is the time to sell.

Someday, maybe sooner than later, Uber will reverse to the mean and once again the wailing and gnashing of teeth will be profound.

scott

Uber is an interesting concept, but the valuation is ridiculous and you already have discussion of automated cars.

http://thenextweb.com/google/2014/05/28/googles-self-driving-car-project-destroy-taxis-uber-lyft-knows-everything/

"When a taxi pulls up to the curb the first question is, “Where are you going?” When Google launches a fleet of self-driving cars in your town, if it’s tied to Google Now it won’t have to ask. It’ll know you have to be at work in 30 minutes. It’ll know that on Sunday afternoons you head to the market for groceries. And it’ll know that you’re heading to karaoke for Susan’s birthday on Saturday. It’ll know where to go without you searching your phone for an address."

mrdarcey

I don't know about their moat. Heard on the radio today that Uber also just got slapped with a stop and desist order and a small fine by the state of Virginia for violating state law regarding registration, insurance, and inspection of taxis.

Thought there was mention of another state as well.

MOZART325

TAXI has a market cap of 0.3 billion. Uber is 50 times higher? Crazy Eddie Pricing.