# Where Uber got its latest 1.6B



## observer (Dec 11, 2014)

Good article on where Uber raised its latest 1.6 billion. It's not from institutional investors....


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## Long time Nyc cab driver (Dec 12, 2014)

observer said:


> Good article on where Uber raised its latest 1.6 billion. It's not from institutional investors....


It was from people that are institutionalized.


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## observer (Dec 11, 2014)

observer said:


> Good article on where Uber raised its latest 1.6 billion. It's not from institutional investors....


http://techcrunch.com/2015/01/30/will-uber-convertibles-run-out-of-gas/

Ooops sorry.


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## observer (Dec 11, 2014)

Long time Nyc cab driver said:


> It was from people that are institutionalized.


As you can see I am not very good at cut and paste.


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## Long time Nyc cab driver (Dec 12, 2014)

observer said:


> As you can see I am not very good at cut and paste.


I don't know, that article sounds like the investors got a pretty risk free deal, and then it's called a lottery ticket ?


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## observer (Dec 11, 2014)

Long time Nyc cab driver said:


> I don't know, that article sounds like the investors got a pretty risk free deal, and then it's called a lottery ticket ?


It's kind of hard to tell right now but if they didn't think institutional investors would be interested because of Ubers risk. That means an IPO might be pushed further into the future.


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## observer (Dec 11, 2014)

observer said:


> It's kind of hard to tell right now but if they didn't think institutional investors would be interested because of Ubers risk. That means an IPO might be pushed further into the future.


It also might mean that investors are getting nervous and they had to use a "life line" to get money. They sure burned through that 1.2 billion pretty quick. What was it 2 months?


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## Brooklyn (Jul 29, 2014)

I think this.. And how less aggressive Uber has become shows how shaky they are. They might not say it.. But I think this.. Along with Goldman selling all of its shares or whatever in that James Rivers ipo, along with going back to Europe a bit more humble and finally surrending data to the NYC TLC shows they are in a situation. For a company to burn through like $4 billion in a year and rising competition and lowering all these prices is finally getting to the company. Especially once more and more places regulate them across the board. I don't think they'll ever disappear but I do think that the whole world domination stuff is gonna fall apart.


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## observer (Dec 11, 2014)

Brooklyn said:


> I think this.. And how less aggressive Uber has become shows how shaky they are. They might not say it.. But I think this.. Along with Goldman selling all of its shares or whatever in that James Rivers ipo, along with going back to Europe a bit more humble and finally surrending data to the NYC TLC shows they are in a situation. For a company to burn through like $4 billion in a year and rising competition and lowering all these prices is finally getting to the company. Especially once more and more places regulate them across the board. I don't think they'll ever disappear but I do think that the whole world domination stuff is gonna fall apart.


I agree, their expenses have to be HUGE with all the lawyers and lobbyists they have hired. For them to have gotten another 1.6B so soon after the 1.2B has to mean they were burning through money like crazy. Goldman Sachs is probably trying to protect its previous investments by bringing on private investors.


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## observer (Dec 11, 2014)

observer said:


> I agree, their expenses have to be HUGE with all the lawyers and lobbyists they have hired. For them to have gotten another 1.6B so soon after the 1.2B has to mean they were burning through money like crazy. Goldman Sachs is probably trying to protect its previous investments by bringing on private investors.


Kinda sounds like one giant Ponzi scheme...


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## Brooklyn (Jul 29, 2014)

observer said:


> Kinda sounds like one giant Ponzi scheme...


That's hilarious.. me and a bunch of other taxi drivers on another forum have joked about that a ton of times.

I think this is Lyft's time to capitalize on all of this. They've been able to endure all of the beatings Uber has thrown at them and they haven't really raised nearly as much as Uber has... if they can raise a bit more it may be a chance for them to finally catch up to Uber.

I've said it before and I'll say it again.... these are freaking apps. Apps. Yes I understand the data mining is huge and all of that... but it's an app. It takes literally 10 seconds total to delete Uber and replace it with Lyft or someone else. I understand also the amount of drivers on the system makes a difference but for example here in NYC drivers don't play games.. if they aren't making money on one app they won't waste a blink to turn it off and turn on another app and I think that will be the needle that pops this app bubble.


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## Brooklyn (Jul 29, 2014)

Like I understand these guys have all these schemes to move around money and all this stuff.. but this is the taxi industry... especially here in NYC... if you don't stick your ass in a cab and do the job you will never understand it. I don't care what degrees you have and how great you are at picking stocks.. you will never understand this business unless you are in it up close and personal... and all these code writing ******s will def. not be able to take down this industry unless they have the cities themselves fork over everything and say **** IT.. UBER HAVE YOUR WAY.. RAPE OUR CITY AND TAKE ONE OF OUR BIGGEST INCOMES. Until then... yea Uber may damage the medallion system and Uber may even win some battles and take over some cities... but they are def. not gonna win the war.


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## observer (Dec 11, 2014)

Brooklyn said:


> That's hilarious.. me and a bunch of other taxi drivers on another forum have joked about that a ton of times.
> 
> I think this is Lyft's time to capitalize on all of this. They've been able to endure all of the beatings Uber has thrown at them and they haven't really raised nearly as much as Uber has... if they can raise a bit more it may be a chance for them to finally catch up to Uber.
> 
> I've said it before and I'll say it again.... these are freaking apps. Apps. Yes I understand the data mining is huge and all of that... but it's an app. It takes literally 10 seconds total to delete Uber and replace it with Lyft or someone else. I understand also the amount of drivers on the system makes a difference but for example here in NYC drivers don't play games.. if they aren't making money on one app they won't waste a blink to turn it off and turn on another app and I think that will be the needle that pops this app bubble.


Yea, I have read that before on the forum, this article seems to confirm it.

As for Lyft and Uber, I don't really know how to play pool, but I have won many a game by sitting back and letting the other guy make mistakes.


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## Brooklyn (Jul 29, 2014)

observer said:


> Yea, I have read that before on the forum, this article seems to confirm it.
> 
> As for Lyft and Uber, I don't really know how to play pool, but I have won many a game by sitting back and letting the other guy make mistakes.


Exactly.. that's the PERFECT analogy.


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## ElectroFuzz (Jun 10, 2014)

Brooklyn said:


> Like I understand these guys have all these schemes to move around money and all this stuff.. but this is the taxi industry... especially here in NYC... if you don't stick your ass in a cab and do the job you will never understand it. I don't care what degrees you have and how great you are at picking stocks.. you will never understand this business unless you are in it up close and personal... and all these code writing ******s will def. not be able to take down this industry unless they have the cities themselves fork over everything and say **** IT.. UBER HAVE YOUR WAY.. RAPE OUR CITY AND TAKE ONE OF OUR BIGGEST INCOMES. Until then... yea Uber may damage the medallion system and Uber may even win some battles and take over some cities... but they are def. not gonna win the war.


Uber and all their investors are after one thing only, ROI (return on investment)
They will cash in once they release the IPO and sell the company to the American Middle Class investor (aka 401K holder)
After they cashed in, they will fade away and the "new owner" will have to deal with real economics.
Things will then change dramatically..... but I'm afraid the medallion system will never recover to it's "glory days"
I predict most Uber drivers will be doing something else by then.
Current cab drivers will become the new Uber drivers.


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## Brooklyn (Jul 29, 2014)

ElectroFuzz said:


> Uber and all their investors are after one thing only, ROI (return on investment)
> They will cash in once they release the IPO and sell the company to the American Middle Class investor (aka 401K holder)
> After they cashed in, they will fade away and the "new owner" will have to deal with real economics.
> Things will then change dramatically..... but I'm afraid the medallion system will never recover to it's "glory days"
> ...


Lol.. yea maybe in certain cities the medallion system may have been crushed.. but believe me when I say NYC will resist. I may be sounding a bit arrogant and may even look a bit pretentious but NYC hasn't taken the hit everyone else has.


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## ubershiza (Jan 19, 2015)

GS is notorious for leading the sheep to the slaughter.


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## ElectroFuzz (Jun 10, 2014)

Brooklyn said:


> Lol.. yea maybe in certain cities the medallion system may have been crushed.. but believe me when I say NYC will resist. I may be sounding a bit arrogant and may even look a bit pretentious but NYC hasn't taken the hit everyone else has.


New York is actually the first place where the medallion system was "legally" changed.
The medallion system suppose to limit the number of cars out there.
This was already broken on the streets of NYC.
You now have the medallion cars + Uber + Lyft all on the same streets.
All approved and legalized.

The medallion no longer serves it's purpose.
It is dead.
The only advantage and power left is the street hails. 
(not a small thing in NYC but nowhere the power and value it once was)


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## Brooklyn (Jul 29, 2014)

ElectroFuzz said:


> New York is actually the first place where the medallion system was "legally" changed.
> The medallion system suppose to limit the number of cars out there.
> This was already broken on the streets of NYC.
> You now have the medallion cars + Uber + Lyft all on the same streets.
> ...


Lol what? I don't know if you mean to be sarcastic with your comments with the winks or you really believe what you're saying.


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## ElectroFuzz (Jun 10, 2014)

Brooklyn said:


> Lol what? I don't know if you mean to be sarcastic with your comments with the winks or you really believe what you're saying.


Did I miss something?

There is no war.
Uber is 100% legal in NYC.

No more winks


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## Brooklyn (Jul 29, 2014)

ElectroFuzz said:


> Did I miss something?
> 
> There is no war.
> Uber is 100% legal in NYC.
> ...


Because Uber follows the rules here.. they don't operate as some rogue company as they do everywhere else.. all drivers must be licensed, and properly insured with the proper vehicles. I think you should ask a few drivers on here who work in NYC how much of a difference street hails and e-hails make in NYC.


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## Long time Nyc cab driver (Dec 12, 2014)

ElectroFuzz said:


> New York is actually the first place where the medallion system was "legally" changed.
> The medallion system suppose to limit the number of cars out there.
> This was already broken on the streets of NYC.
> You now have the medallion cars + Uber + Lyft all on the same streets.
> ...


No disrespect, but you're from Arizona. There were yellow taxis with two way radios the owners said why do we have medallions if we never do street hails.
So, a mayor got paid off, and they allowed to take the radios out of the yellow cabs and made "black cars".
This was a long time before Uber.
Taxis aren't going away, believe me. In Nyc there's also green cabs, so their are a lot of choices besides Uber and Lyft in nyc, not to mention limousine companies.
And yellow taxis use uber too here with UberT.


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## ElectroFuzz (Jun 10, 2014)

I agree, Yellow Taxi and Uber are here to stay.
But the days of $1 million medallions are over.


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## Long time Nyc cab driver (Dec 12, 2014)

ElectroFuzz said:


> I agree, Yellow Taxi and Uber are here to stay.
> But the days of $1 million medallions are over.


Not really, in twenty years a medallion will be two million dollars, there are always new immigrants willing to pay.


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## ElectroFuzz (Jun 10, 2014)

http://articles.philly.com/2014-11-21/news/56314015_1_medallions-uber-ride-sharing-service


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## Long time Nyc cab driver (Dec 12, 2014)

ElectroFuzz said:


> http://articles.philly.com/2014-11-21/news/56314015_1_medallions-uber-ride-sharing-service


That's Philadelphia, not Nyc.
Besides , they should lower the price. In Nyc 3 or 4 new immigrants buy a medallion and each work 2 or 3 days a week.


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## ElectroFuzz (Jun 10, 2014)

I know NYC is a special place (I used to live there 20 years ago)
But to believe that basic economic forces like "supply and demand"
will somehow have no effect is a little naive.

Love your avatar by the way, I see Andrew Dice Clay is still alive and well.


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## Long time Nyc cab driver (Dec 12, 2014)

ElectroFuzz said:


> I know NYC is a special place (I used to live there 20 years ago)
> But to believe that basic economic forces like "supply and demand"
> will somehow have no effect is a little naive.
> 
> Love your avatar by the way, I see Andrew Dice Clay is still alive and well.


Well, they aren't giving away NYC taxi medallions, if it were $100,000 I would jump on it. 
I saw Andrew Dice Clay in Las Vegas, he's fallen on hard times.
When he was riding high he filled Madison Square Garden, the only comedian to ever do it I think.
Women hate Andrew Dice Clay


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## Casuale Haberdasher (Dec 7, 2014)

Brooklyn said:


> I think this.. And how less aggressive Uber has become shows how shaky they are. They might not say it.. But I think this.. Along with Goldman selling all of its shares or whatever in that James Rivers ipo, along with going back to Europe a bit more humble and finally surrending data to the NYC TLC shows they are in a situation. For a company to burn through like $4 billion in a year and rising competition and lowering all these prices is finally getting to the company. Especially once more and more places regulate them across the board. I don't think they'll ever disappear but I do think that the whole world domination stuff is gonna fall apart.


POST # 8 / Brooklyn : ♤♡♢♧ From
your lips to God's ear, man.


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