Los Angeles Times

Michael Hiltzik: Uber's car-wreck IPO could change Wall Street's thinking about its 'unicorns'

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

You’re reading a preview, subscribe to read more.

More from Los Angeles Times

Los Angeles Times3 min read
Commentary: USC’s ‘Security Risk’ Rationale To Thwart Peaceful Protest Is Not Justified
During Vietnam War protests, the Nixon administration called them “outside agitators.” Now my university’s provost prefers “participants — many of whom do not appear to be affiliated with USC.” Beyond Andrew Guzman’s misdemeanor of wordiness, the pla
Los Angeles Times3 min readAmerican Government
LZ Granderson: Arizona's Indictment Of Trump Allies Follows A Sordid, Racist History
I've lived and/or worked in 10 states scattered across the country. Arizona was and remains the most complicated. The same state that elected the first openly gay mayor of a large U.S. city is also the state that did not want a federal holiday for Ma
Los Angeles Times3 min readInternational Relations
USC Protests Remain Peaceful Saturday Night After Campus Is Closed; LAPD Calls Off Tactical Alert
Tensions rose on the University of Southern California campus Saturday after pro-Palestinian protesters returned with tents and reestablished an encampment in Alumni Park, where 93 people were arrested on Wednesday. They beat drums and put up banners

Related Books & Audiobooks