# Uber signs large lease in NYC World Trade Center - Crain's 9/13/19



## Michael - Cleveland (Jan 1, 2015)

`https://www.crainsnewyork.com/real-estate/uber-sign-large-lease-world-trade-center[/SIZE]`
*Uber to sign large lease at World Trade Center*
Crain's 9/13/19

Uber is close to signing a large lease to expand and relocate its New York headquarters to the World Trade Center.

The ride hailing app is on the verge of completing a deal to take seven floors, totaling nearly 308,000 square feet, at 3 World Trade Center. The arrangement includes an option to expand onto an 8th floor, an addition that, if exercised, would bring its footprint to more than 350,000 square feet.

Several sources directly involved in the transaction said that Uber and the building's landlord, Silverstein Properties, had ironed out all of the major terms of the lease, clearing the way for the transaction to be completed imminently.

Uber, which went public in May in an $82 billion stock offering, will consolidate several office locations it has into the space, including an outpost in Chelsea and at 1400 Broadway. The company, which now has a market cap of roughly $56 billion, will make the move to 3 WTC sometime next year. 

------------------------------------
*Ok, here's the rest of the story: *

Uber currently has offices in 5 separate facilities throughout NYC.
With this new lease of 300,000 SQ ft. Uber is consolidating all of those other offices in to one campus.
(for perspective, that's about 20% larger than a single Walmart Super Center)

The lease is at $80/sq ft - which while on the higher end of office space in lower Manhattan, is not the highest. It's par for the course.
There should be savings involved when consolidating that many offices and bringing that many people together to work.

For anyone who follows NYC commercial real estate, demand is increasing and supply is falling - so this deal may just have been to lock in current pricing, which is rising.

https://nypost.com/2019/09/13/uber-set-to-sign-massive-lease-at-3-world-trade-center/


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## XPG (Oct 4, 2017)

Uber, one of America’s most hated companies move into WTC??

Imagine bearded drivers/employees in their traditional dress code, entering into WTC? Wow.. Really Uber? Are you this dumb?


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## Michael - Cleveland (Jan 1, 2015)

XPG said:


> Uber, one of America's most hated companies move into WTC??
> 
> Imagine bearded drivers/employees in their traditional dress code, entering into WTC? Wow.. Really Uber? Are you this dumb?


Really - you're going to take this news story off-topic with a comment like that? 
As if the WTC (as in *WORLD TRADE*) doesn't have thousands of international tenants and visitors?

<smh> do you really think they are taking that space to open a Green Light Hub? lol!


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## Wolfgang Faust (Aug 2, 2018)

Michael - Cleveland said:


> Really - you're going to take this news story off-topic with a comment like that?
> As if the WTC (as in *WORLD TRADE*) doesn't have thousands of international tenants and visitors?
> 
> <smh> do you really think they are taking that space to open a Green Light Hub? lol!


Just so you know, i saw signs like that posted in many restrooms all over Europe.


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## SuperDumped (Sep 6, 2019)

hope history repeats itself after they move in

a cab company needs an office space in a 1000$ a month dump, this just more stolen money being laundered via real estate/salaries to the tune of hundreds of millions of dollars and useless salaries that dont contribute to humanity or their core business


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## Michael - Cleveland (Jan 1, 2015)

Wolfgang Faust said:


> Just so you know, i saw signs like that posted in many restrooms all over Europe.


me too. Has nothing do with how it was used here.


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## Wolfgang Faust (Aug 2, 2018)

Michael - Cleveland said:


> me too. Has nothing do with how it was used here.


Fair enough.
Point taken.


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## Michael - Cleveland (Jan 1, 2015)

SuperDumped said:


> hope history repeats itself after they move in


your speaking to people here, including me, who lost loved ones in those buildings.


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## Wolfgang Faust (Aug 2, 2018)

Wolfgang Faust said:


> Fair enough.
> Point taken.


I just get really tired of some of the really stupid stuff posted here. It is aggrivating.


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## Michael - Cleveland (Jan 1, 2015)

Wolfgang Faust said:


> I just get really tired of some of the really stupid stuff posted here. It is aggrivating.


I know... we all give in to it because it's easy to give in.


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## Wolfgang Faust (Aug 2, 2018)

Michael - Cleveland said:


> your speaking to people here, including me, who lost loved ones in those buildings.


Me too 
I will never forget.


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## SuperDumped (Sep 6, 2019)

Michael - Cleveland said:


> your speaking to people here, including me, who lost loved ones in those buildings.


& people die everday including today because of uber lyft who cant have "friction" in their apps, its called collateral damage they just made the place a bigger target i have zero issues if an asteroid fell on their headquarters would sleep like a baby

sorry for your loss but sob stories arent unique neither is your loss those buildings fell so you can enjoy cheap oil & access to opioids dont blame me or hate the player, hate the game


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## Wolfgang Faust (Aug 2, 2018)

Michael - Cleveland said:


> I know... we all give in to it because it's easy to give in.


True.
Like this "history repeating" crap.
Makes my blood boil.


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## SuperDumped (Sep 6, 2019)

Wolfgang Faust said:


> I just get really tired of some of the really stupid stuff posted here. It is aggrivating.


theres an ignore feature so you can enjoy an echo chamber


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## Wolfgang Faust (Aug 2, 2018)

SuperDumped said:


> & people die everday including today because of uber lyft who cant have "friction" in their apps, its called collateral damage they just made the place a bigger target i have zero issues if an asteroid fell on their headquarters would sleep like a baby
> 
> sorry for your loss but sob stories arent unique neither is your loss


Wow.
Just
WOW


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## KK2929 (Feb 9, 2017)

XPG said:


> Uber, one of America's most hated companies move into WTC??
> 
> Imagine bearded drivers/employees in their traditional dress code, entering into WTC? Wow.. Really Uber? Are you this dumb?


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## Cold Fusion (Aug 28, 2019)

XPG said:


> Uber, one of America's most hated companies move into WTC??
> 
> Imagine bearded drivers/employees in their traditional dress code, entering into WTC? Wow.. Really Uber? Are you this dumb?


The vast majority of bearded or clean shaven Uber drivers
could Not get past Lobby Security in 99% of the office buildings worldwide


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## KK2929 (Feb 9, 2017)

SuperDumped said:


> hope history repeats itself after they move in
> 
> a cab company needs an office space in a 1000$ a month dump, this just more stolen money being laundered via real estate/salaries to the tune of hundreds of millions of dollars and useless salaries that dont contribute to humanity or their core business


--------------------------
Considering that 3,000 people died in the "history" you mentioned, and for the families that were left behind to suffer -- your remark is inappropriate.


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## Wolfgang Faust (Aug 2, 2018)

SuperDumped said:


> theres an ignore feature so you can enjoy an echo chamber


The ignore feature refers to ignorant, which in your case is a frequent observation.


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## SuperDumped (Sep 6, 2019)

KK2929 said:


> --------------------------
> Considering that 3,000 people died in the "history" you mentioned, and for the families that were left behind to suffer -- your remark is inappropriate.


considering the same amount of people will die this month & every month from opioids pushed by big pharma that come from Afghanistan thats your opinion, considering 16 drivers in brazil, more around the globe, hundreds of drivers being raped because an app doesn't want friction then spending hundreds of millions of dollars on office space is what i f.....ind innapropriate

1 person dies no one cares 3000 at the same time the sheep carry on about it for decades do you mourn all those that died from the tx sniper still, or the okc bombings must take up a lot of your energy plus arent they in a "better" place according to mosts belief systems?

oh well amerikkka ef yeah


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## KK2929 (Feb 9, 2017)

SuperDumped said:


> & people die everday including today because of uber lyft who cant have "friction" in their apps, its called collateral damage they just made the place a bigger target i have zero issues if an asteroid fell on their headquarters would sleep like a baby
> 
> sorry for your loss but sob stories arent unique neither is your loss those buildings fell so you can enjoy cheap oil & access to opioids dont blame me or hate the player, hate the game


----------------------------
Making stupid remarks is unique in your world. I think the drinking water in Kansas is tainted. You have been a member for 6 days. You got a lot to learn. yeah - the world is a mess and always had been. 
Stay on topic !!!!!
americcca ef yeah -- if you do not like America, please leave. You are not wanted here.


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## Wolfgang Faust (Aug 2, 2018)

SuperDumped said:


> considering the same amount of people will die this month & every month from opioids pushed by big pharma that come from Afghanistan thats your opinion, considering 16 drivers in brazil, more around the globe, hundreds of drivers being raped because an app doesn't want friction spend hundreds of millions of dollars on office space is what i mind innapropriate
> 
> oh well amerikkka ef yeah


Riding with you must be interesting.


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## SuperDumped (Sep 6, 2019)

Wolfgang Faust said:


> The ignore feature refers to ignorant, which in your case is a frequent observation.


nah ignore means dont pay attention ignorant means lacking knowledge

sticks n stones ad hominem and all that jazz



KK2929 said:


> ----------------------------
> Making stupid remarks is unique in your world. I think the drinking water in Kansas is tainted.
> Stay on topic !!!!!


take your own advice & you shouldn't believe everything you read on the internets lol

them moving there should be the slap to your face not my opinion


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## Soldiering (Jan 21, 2019)

XPG said:


> Uber, one of America's most hated companies move into WTC??
> 
> Imagine bearded drivers/employees in their traditional dress code, entering into WTC? Wow.. Really Uber? Are you this dumb?


Their not dumb. They don't give a Damn about anything or anyone unless it can make them a buck.


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## SuperDumped (Sep 6, 2019)

Wolfgang Faust said:


> Riding with you must be interesting.


mostly 5 stars glowing commnets repeat business and 40+% nice tips

they get what they pay for



KK2929 said:


> ----------------------------
> Making stupid remarks is unique in your world. I think the drinking water in Kansas is tainted. You have been a member for 6 days. You got a lot to learn. yeah - the world is a mess and always had been.
> Stay on topic !!!!!
> americcca ef yeah -- if you do not like America, please leave. You are not wanted here.


cant leave its not that simple, trapped in this 100% corrupt morally bankrupt criminal enterprise called amerikkka, but your triggered remark sure is 6 days lol try 4+ years again everything on the internet isn't true LMAO, lots of people like me here if i was a child id actually care about it, the truth gets gone people like echo chambers like stars & badges so they can feel safe & good its quite naive ignore me & move on with your life or dont & lets strangers effect your real life emotions its not healthy

its my OPINION, Uber actually put into real life ACTION a slap to your face


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## Michael - Cleveland (Jan 1, 2015)

SuperDumped said:


> & people die everday including today because of uber lyft who cant have "friction" in their apps, its called collateral damage they just made the place a bigger target i have zero issues if an asteroid fell on their headquarters would sleep like a baby
> 
> sorry for your loss but sob stories arent unique neither is your loss those buildings fell so you can enjoy cheap oil & access to opioids dont blame me or hate the player, hate the game


 it's irritating as hell to listen to somebody tell me that the people in those buildings died because I did something. But I'm going to let it go because you're just being annoying and confrontational. I'm grateful that the overwhelming majority of people in my life are not as callous and uncaring as you.


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## doyousensehumor (Apr 13, 2015)

What the heck is with the implying about the way drivers dress and history repeating it's self SMH

Seriously , what is the point of having a high profile expensive location for uber? To me it would seem to make sense you'd want to SAVE money...


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## 1.5xorbust (Nov 22, 2017)

Further evidence that this company is going down the toilet.


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## SuperDumped (Sep 6, 2019)

Michael - Cleveland said:


> it's irritating as hell to listen to somebody tell me that the people in those buildings died because I did something. But I'm going to let it go because you're just being annoying and confrontational. I'm grateful that the overwhelming majority of people in my life are not as callous and uncaring as you.


who said you did anything lol geez youre doing whats called projecting, the reason it happened had nothing to do with you but lots to do with the same government thats allowing uber lyft to operate above the law which has unintended consequences they call collateral damage & you as well as me & eveyone else gets to enjoy cheap oil & unlimited access to opiods if thats your thing

simple facts and opinions

me me me is dull dull dull everyone on this planet has people they love die for some reason its a big deal when it happens in groups

i voiced my opinion that after they move in id have no issues with an asteroid causing de ja vu & would sleep like a baby if so
nothing more nothing less, i dont feel bad for evil people who die just like im sure you dont donate to every homeless person you drive by because you can give to 1 a day but not the hundreds youll pass (1 vs many) so i don't get all bent out of shape when many die as i know single persons die everyday all around me, i keep it in perspective many dont outweigh 1, 1 dont out weigh many they all the same meat bags to me like im a "meatbag" to uber lyft govt


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## Cold Fusion (Aug 28, 2019)

SuperDumped said:


> hope history repeats itself after they move in
> 
> a cab company needs an office space in a 1000$ a month dump, this just more stolen money being laundered via real estate/salaries to the tune of hundreds of millions of dollars and useless salaries that dont contribute to humanity or their core business


Where are u from @SuperDumped ?
Your writing and syntax is not a product of the US education system.
⚠Just wondering who's dissin my country wanting a repeat of 9/11⚠


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## Michael - Cleveland (Jan 1, 2015)

doyousensehumor said:


> What the heck is with the implying about the way drivers dress and history repeating it's self SMH
> 
> Seriously , what is the point of having a high profile expensive location for uber? To me it would seem to make sense you'd want to SAVE money...


Big public companies tend to have big visible presences - especially in the center of the financial world.
Uber is a big public company.
I know we like to think of it as the mess that came from a bunch of spoiled rich kids on the 28th floor of a building in SF... but the reality today is that Uber is a $58 billion publicly held Global enterprise.
It sounds to me like many here often minimize what that means - or just don't understand how big a financial force Uber is in the world.
Maybe some perspective is necessary:


Uber's value is $20+ Billion *more* than Ford Motor Company
Ubers value is $1 Billion *greater* than General Motors.
Uber's value is *nearly 75%* of the value of 127 year old General Electric.
Uber has nearly *twice the market cap* as 125 year old Hershey Company.

In other words: they can lease offices and pay (tax deductible) rent anywhere they want.
(why not? It's not their money they are spending)



SuperDumped said:


> who said you did anything ...


You did:
>>> " sorry for your loss but sob stories arent unique neither is your loss those buildings fell so you can enjoy cheap oil & access to opioids... " <<<


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## doyousensehumor (Apr 13, 2015)

Michael - Cleveland said:


> Big public companies tend to have big visible presence - especially in the center of the financial world.
> Uber is a big public company.
> I know we like to think of it as the mess that came from a bunch of spoiled rich kids on the 28th floor of a building in SF... but the reality today is that Uber is a $58 billion publicly held Global enterprise.
> It sounds to me like many here often minimize what that means - or just don't understand how big a financial force Uber is in the world.


Good explanation.
I was thinking coming from small scale. Where Image does nothing and where bark doesnt matter as much as bite.


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## SuperDumped (Sep 6, 2019)

Cold Fusion said:


> Where are u from @SuperDumped ?
> Your writing and syntax is not a product of the US education system.
> Just wondering who's dissin my country wanting a repeat of 9/11


no one said they wanted a repeat lol but if after they moved in & and it happened again, it would be just karma, uber Lyft is responsible for more than 3000 people suffering if you want to get statistical

us education system lol
im from amerikkka & i dont spell scheck grammar check sentence structure checks for people who work for childrens wages

my math is great though so are my business agreements that require such things

this is a message board filled with sensitive grammar nazis who only want echo chambers & cant stand truth who only point out such things as grammar when they have no valid counter point, fueled by emotions not logic...

mad at a strangers opionon not the company stealing mllions from them & wasting it on office space at the wtc of all places lol


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## XPG (Oct 4, 2017)

Cold Fusion said:


> The vast majority of bearded or clean shaven Uber drivers
> could Not get past Lobby Security in 99% of the office buildings worldwide


 Meaning, if you are a war criminal from Somali. You can be "Uber Pro Diamond" driver with a 4.89 rating, but you can't get past Uber lobby security.


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## TwoFiddyMile (Mar 13, 2015)

Back on topic-
This seems like a financially irresponsible move on Ubers part.
They should be trying to spend less money, not more money.


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## Cold Fusion (Aug 28, 2019)

SuperDumped said:


> no one said they wanted a repeat lol but if after they moved in & and it happened again, it would be just karma, uber Lyft is responsible for more than 3000 people suffering if you want to get statistical
> 
> us education system lol
> im from amerikkka & i dont spell scheck grammar check sentence structure checks for people who work for childrens wages
> ...


Once again:

Where are u from @SuperDumped ?
Are u embarrassed by your country of origin, your people, your culture?
Where are u from @SuperDumped ?

Your writing and syntax is not a product of the US education system.
⚠Just wondering who's dissin my country wanting a repeat of 9/11⚠....

........AKA: domestic terrorist

https://www.fbi.gov/contact-us/field-offices/kansascity


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## SFOspeedracer (Jun 25, 2019)

Cold Fusion said:


> Once again:
> 
> Where are u from @SuperDumped ?
> Are u embarrassed by your country of origin, your people, your culture?
> ...


He came from where they all come from, a troll battalion kept underground of a village in the east

they train intensely on verbiage with no substance and equip themselves with fly ranting


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## TwoFiddyMile (Mar 13, 2015)

SFOspeedracer said:


> He came from where they all come from, a troll battalion kept underground of a village in the east
> 
> they train intensely on verbiage with no substance and equip themselves with fly ranting


They survive solely on YouTube videos and Mountain Dew.


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## XPG (Oct 4, 2017)

TwoFiddyMile said:


> Back on topic-
> This seems like a financially irresponsible move on Ubers part.
> They should be trying to spend less money, not more money.


Paying at least $750,000 for WTC office space was just one of the reasons of Juno's failure.
https://www.vox.com/2016/6/18/11965108/juno-uber-lyft-drivers-friendly-spend


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## TwoFiddyMile (Mar 13, 2015)

XPG said:


> Paying at least $750,000 for a year-long lease for WTC office was one of the reasons of Juno's failure.
> https://www.vox.com/2016/6/18/11965108/juno-uber-lyft-drivers-friendly-spend


A smarter startup would have nothing but a maildrop address near Port Authority.


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## XPG (Oct 4, 2017)

TwoFiddyMile said:


> A smarter startup would have nothing but a maildrop address near Port Authority.


Juno was a taxi dispatching app just like Uber. And drivers had to go to their WTC office to sign up - Back on topic.


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## Cold Fusion (Aug 28, 2019)

https://www.vox.com/2016/6/18/11965108/juno-uber-lyft-drivers-friendly-spend[/QUOTE]

https://www.crainsnewyork.com/transportation/juno-selling-almost-nothing


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## XPG (Oct 4, 2017)

Cold Fusion said:


> https://www.crainsnewyork.com/transportation/juno-selling-almost-nothing


 What i posted about Juno is from 2016 and just a source for $750k lease. No need to discuss Juno's current situation.


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## TwoFiddyMile (Mar 13, 2015)

XPG said:


> What i posted about Juno is from 2016 and just a source for $750k lease. No need to discuss Juno's current situation.


No need to be curt.


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## Tarvus (Oct 3, 2018)

SuperDumped said:


> hope history repeats itself after they move in


What a totally shitty asshole thing to say!


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## XPG (Oct 4, 2017)

TwoFiddyMile said:


> No need to be curt.


Well the user is constantly quoting my posts with nonsense. I have to respond to break his confidence.


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## Fuzzyelvis (Dec 7, 2014)

Michael - Cleveland said:


> `https://www.crainsnewyork.com/real-estate/uber-sign-large-lease-world-trade-center[/SIZE]`
> *Uber to sign large lease at World Trade Center*
> Crain's 9/13/19
> 
> ...


Because space there is so cheap...


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## SuperDumped (Sep 6, 2019)

Tarvus said:


> What a totally shitty @@@@@@@ thing to say!


shitty just like how uber lyft treat labor laws


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## Fuzzyelvis (Dec 7, 2014)

Michael - Cleveland said:


> Big public companies tend to have big visible presences - especially in the center of the financial world.
> Uber is a big public company.
> I know we like to think of it as the mess that came from a bunch of spoiled rich kids on the 28th floor of a building in SF... but the reality today is that Uber is a $58 billion publicly held Global enterprise.
> It sounds to me like many here often minimize what that means - or just don't understand how big a financial force Uber is in the world.
> ...


Uber's SUPPOSED value. Something is only worth what you can sell it for. And their supposed value was more than twice that a year ago.

Just because you CAN do/buy something doesn't mean it's wise.

At this point investors are likely wondering what they're doing to SAVE money, not spend it. Not a wise move budget OR image wise.

Just my opinion of course.


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## Cold Fusion (Aug 28, 2019)

SuperDumped said:


> lol nah domestic terrorists are white people off or on their meds notice youll never hear about the prescriptions their on big pharma above the law like uber lyft
> 
> the alphabet boys dont concern me im a pacifist lmao & no one said anything about a repeat only that i would shed no tears if Uber headquarters crumbled around them, they all belong in prison with life sentences right next to murderers and rapists for they're blatant human trafficking & exploitation of seniors, immigrants, desperate & dumb
> 
> ...


Once again:

Where are u from @SuperDumped ?
Are u embarrassed by your country of origin, your people, your culture?
Where are u from @SuperDumped ?

Your writing and syntax is not a product of the US education system.
⚠Just wondering who's dissin my country wanting a repeat of 9/11⚠....

........AKA: domestic terrorist


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## Michael - Cleveland (Jan 1, 2015)

SuperDumped said:


> hey im a good guy was just bout to cancel an xl request that didn't reply back, said he was in a wheelchair knew it was a loss payment wise but can't cancel after that, so a bs $7 trip, but he lives 1/2 a mile away & now itll be a $10 cash trip via text since he was charged $13
> 
> see good guy : )
> 
> ...


leave my pipelines and poppy fields out of this.



Fuzzyelvis said:


> Uber's SUPPOSED value. Something is only worth what you can sell it for. And their supposed value was more than twice that a year ago.
> 
> Just because you CAN do/buy something doesn't mean it's wise.
> 
> ...


No. That is their ACTUAL market capitilization. The days of 'SUPOSSED' valuation are over.
The public now determines the company's market value, minute by minute with the sale and purchase of every share of stock.


> At this point investors are likely wondering what they're doing to SAVE money, not spend it. Not a wise move budget OR image wise.


Uber's investors reacted to AB5 and the debt offering by valuing the company higher in the future. Uber opened the week at $32.25 and closed today at $33.25. The share price and market capitalization are indicators of what investors believe the company's value will be in the future. That's why we're often left scratching our head when a company announces bad news - or news of a bad economy is made public, but a company's share price goes up. It's because investors have already built that current bad news in to their future valuation of the company.


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## TwoFiddyMile (Mar 13, 2015)

SuperDumped said:


> value & worth has nothing to do with stock price neither do profits or earning the only bigger current Ponzi scam than uber lyft is the market, the more people buying a stock it goes up more selling down period & the hedge funds who do all the high frequency tradeing based on algos from fiber lines right across the street in nano seconds can move a stock up & down as they please
> 
> uber Lyft is worthless accept to maybe 10,000 people at the top particular less than 1000 people everyone else after the ipo is basically trading on hopes &:dreams some may get lucky here & there but the rest will be left holding the bag until bailed out or bought out for pennies on the dollar on some too big to fail farce while those 1000 at the top laugh in their 71 million dollar mansions, 34 million dollar condos, & billions more in real estate bought off the backs of modern days slaves over 1 billion rides and the labor to perform them was funneled to just 3 people so they can have homes & salaries (2 co founders & current ceo) while claiming "losses" & "burn" rate if any citizen claimed a loss & bought a 71 million dollar mansion they would be handcuffed, thrown in a cage & their mansion would be seized
> 
> all the actual stolen money from illegal wages paid to labor & predatory pricing to undercut legit competition is being laundered thru real estate, salaries for useless positions thru friends family members, sillyCON valley, & bribing everyone that matters including the labor department, FBI, politicans...... to operate above the law while human trafficking seniors, immigrants, desperate, dumb millions of times per day which includes this real estate move


Try a little more punctuation?


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## Who is John Galt? (Sep 28, 2016)

Michael - Cleveland said:


> ... but the reality today is that Uber is a $58 billion publicly held Global enterprise.
> It sounds to me like many here often minimize what that means - or just don't understand how big a financial force Uber is in the world.
> Maybe some perspective is necessary:
> 
> ...


Maybe some further perspective is needed.

Remember a company called Enron?

At *Enron's peak*, its total enterprise value was about $70 Billion (about $98 Billion in 2019 dollars) and its shares were *worth *$90.75; when the firm declared bankruptcy on December 2, 2001, they were trading at $0.26. To this day, many wonder how such a powerful business, at the time one of the *largest* companies in the United States, disintegrated almost overnight.

.


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## Michael - Cleveland (Jan 1, 2015)

SuperDumped said:


> value & worth has nothing to do with stock price neither do profits or earning the only bigger current Ponzi scam than uber lyft is the market, the more people buying a stock it goes up more selling down period & the hedge funds who do all the high frequency tradeing based on algos from fiber lines right across the street in nano seconds can move a stock up & down as they please
> 
> uber Lyft is worthless accept to maybe 10,000 people at the top particular less than 1000 people everyone else after the ipo is basically trading on hopes &:dreams some may get lucky here & there but the rest will be left holding the bag until bailed out or bought out for pennies on the dollar on some too big to fail farce while those 1000 at the top laugh in their 71 million dollar mansions, 34 million dollar condos, & billions more in real estate bought off the backs of modern days slaves over 1 billion rides and the labor to perform them was funneled to just 3 people so they can have homes & salaries (2 co founders & current ceo) while claiming "losses" & "burn" rate if any citizen claimed a loss & bought a 71 million dollar mansion they would be handcuffed, thrown in a cage & their mansion would be seized
> 
> all the actual stolen money from illegal wages paid to labor & predatory pricing to undercut legit competition is being laundered thru real estate, salaries for useless positions thru friends family members, sillyCON valley, & bribing everyone that matters including the labor department, FBI, politicans...... to operate above the law while human trafficking seniors, immigrants, desperate, dumb millions of times per day which includes this real estate move


tl/dr rant why are you taking up pixels <sigh>



Who is John Galt? said:


> Maybe some further perspective is needed.
> Remember a company called Enron?


Enron had shell companies hiding fake assets. People from Enron went to jail. 
It's a great story, but the TNC valuations are not comparable.
The TNCs have no real assets - and don't pretend to. All they do is move CASH. Moving CASH has a very high value in this bizarre global market in which the big internationals play.

I should add that the TNCs could very well come crashing back to earth, just as Enron did - but, IMO, it would be for entirely different reasons, like failure of the gig business model.


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## XPG (Oct 4, 2017)

Michael - Cleveland said:


> Enron had shell companies hiding fake assets. It's a great story, but the TNC valuations are not comparable.
> The TNCs have no real assets - and don't pretend to.


 Valuations are different, fraud tactics are different. But the destination is same --> catastrophic fail


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## Who is John Galt? (Sep 28, 2016)

Michael - Cleveland said:


> Enron had shell companies hiding fake assets. People from Enron went to jail.
> It's a great story, but the TNC valuations are not comparable.
> The TNCs have no real assets - and don't pretend to.


Around March and April of this year and prior to Über's IPO, the self interested spruikers and sycophants for the public float were aiming for a valuation in the impending initial public offering of as much as $100 billion, which was in fact below previous expectations.

This proposed value of $100 Billion equated to approximately $55 per share. Closer to the IPO a range of $48 to $55 was settled upon as the likely worth.

In May this year the stock was floated at a final price of $45 a share, near the bottom of its expected price range, valuing the ride-hailing company at about $82.4 billion.

Today, just on six months later the stock is trading at $33.25 giving an enterprise value of approximately $61Billion.

So, in less than 9 months the (supposed) value of this company has plummeted from $100 Billion to $60 Billion.

"The TNCs have no real assets - and don't pretend to."

Obviously this is incorrect. They do have assets - rapidly diminishing assets but continue to pretend otherwise.

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