How and why to short Uber
by Cory Doctorow from on (#1PP9P)
Uber's $62.5B valuation is an utterly speculative bet on a company that can only pay out if many sub-bets pay off: the timely arrival of self-driving cars, widespread adoption of car-sharing (rather than private self-driving car ownership), no effective competition from other hailing companies (including those backed by the car manufactuers), regulatory reform to legalize its practices, and smooth sailing for its massive subprime lending program for its drivers. (more")