Michael Hiltzik: Uber's car-wreck IPO could change Wall Street's thinking about its 'unicorns'
by Michael Hiltzik, Los Angeles Times
May 15, 2019
4 minutes
Few things prove the ancient warning "Be careful what you wish for" like a Wall Street sure thing that blows itself to smithereens.
For example, the Uber initial public offering.
Investment and tech gurus spent five years hawking Uber as a world-changing business and Uber stock as a stairway to fortune. Contrary voices were heard in the marketplace, it is true, but they were few and far between and in any event drowned out by the drum-beating from the other side.
But now the public market - the defining arbiter of the value of an enterprise, at least as a snapshot - has spoken, and its judgment is harsh.
As we write, Uber
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