Larry Ellison on Uber: “They have an app my cat could have written.”
Uber Technologies’ stock has struggled since the company went public this year. And WeWork’s parent company has postponed a planned initial public offering, amid reports that it was slashing its valuation by at least half.
Uber sports a market valuation of more than $57 billion, while WeWork has raised more than $12 billion in venture capital. But if you ask Oracle founder and executive chairman Larry Ellison, there isn’t a lot of value in either one.
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JPMorgan shares too much space with WeWorkJamie Dimon’s outfit has helped line up $6 bln in credit for the office sublessor and lent millions to CEO Adam Neumann. Funds advised by the bank are also one of the firm’s largest investors. With WeWork’s IPO increasingly in doubt, the ties call into question JPM’s tech savvy.
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Light Street's Glen Kacher says there's profitability in sight for Uber and Lyft despite falling stocksNewly public ride-sharing companies Uber and Lyft have tumbled 25% since their initial public offerings, but Light Street's Glen Kacher still believes there's a path for profitability for them.
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