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Op Ed Piece Concerning Uber IPO

Michael - Cleveland

Well-Known Member
Moderator
Lawrence Meyers has a vested interest in Medallion Financial Corp. (symbol TAXI), a company that finances taxi medallions. He knows his facts about cabs and medallions... but only thinks he understands Uber. Take anything he says from the perspective that his interests lie in the value of taxi medallions.
 
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Huberis

Well-Known Member
  • Thread Starter Thread Starter
  • #5
Michael, I understand the FHV and taxi industries quite well, thank you. If you have specific issues with the article, then address those issues. Interests I may or may not have should be irrelevant to the value of the arguments made. If you can't address those directly, you have no legs to stand on.
From your perspective, how accurate is it to describe Uber as a kind of Ponzi scheme? Uber is one of the eternal startups. Five years and counting, they are still a startup.

From your understanding, id Uber itself likely to be the central focus of Kalanicks attention or is Uber more of a mechanism to raise capital and develop other technologies?

I personally tend to believe Kalanick sees Uber as a tool to leverage investment capital. He is now a venture capitalist himself. I don't see him as truly emotionally committed to any one thing such as a particular business. I do believe Uber gives Travis access to millions of people's personal information, they can track patterned behavior too, all through their little ubiquitous cell phone app.

I could be wrong about that. How central to Kalanick's enterprises are Uber's operations? What else is this guy doing that we don't know about?
 

D000505

Member
Huberis, I think TK Enterprises entire plan is to hoard cash and run when the bottom falls out.

I don't understand how a company with losses of this magnitude 6 years in, and NO signs of profitavility, is still getting investor cash. http://www.businessinsider.com/uber-reportedly-operating-at-a-470-million-loss-2015-6

Imagine Google circa 2005 or Facebook circa 2012 burning this kinda cash. My prediction is that we'll remember Uber as Enron 3.0
 

Casuale Haberdasher

Well-Known Member
POST # 1/Huberis: Bostonian Bison Thanks You for this
Hyperlinked Article of Importance to
ALL UPNFers, especially those Drivers
undergoing a Waitlisting/Layoff in the LA/OC "Market".

I find it Curious that Well-Known
Michael - Cleveland 's Caveat about
LMeyers has brought the Author "out
of the Woodwork". With HIS Curiculum Vitae, You'd think he'd have a 1001 OTHER MATTERS to attend to besides bullying a Valued Contributor to UPNF, that pointed out a CRUCIAL Investment detail, whichwas conveniently left out of the Postscript to the InvestorPlace.com. article.

TO NOT mention his vested interest in Medall-
ion Financial Corp. seems like Gross Disingenu-
ousness to this Reader. Maybe he read T.K.'s
White Paper on "Disruptive Duplicity".

More important, Huberis , is Your Follow-
ing in the "NewsMeister" Tradition that
was initiated almost 16 months ago by
Our # 1 Notable chi1cabby, whose Altru-istic Efforts have made UPNF the World's Leading A-B TNC Resource and
Community.

Mentoring Bison Schools Bigwig.
 
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Michael - Cleveland

Well-Known Member
Moderator
POST # 1/HuberisMore important, Michael, is Your Follow-
ing in the "NewsMeister" Tradition that was initiated almost 16 months ago by Our # 1 Notable chi1cabby,
chi1cabby set the standard I try to follow... but mention also must be made of the very smart 'rules' for posting in NEWS established by the UPNF Grand Wizard which serve the forum and its readers so well.
 

Michael - Cleveland

Well-Known Member
Moderator
Michael, I understand the FHV and taxi industries quite well, thank you. If you have specific issues with the article, then address those issues. Interests I may or may not have should be irrelevant to the value of the arguments made. If you can't address those directly, you have no legs to stand on.
I addressed those issues in the comments section of your article - and you replied by sidestepping them. Oh, and for the record, Larry - I don't necessarily disagree with your assessment of the taxi-cab industry or even the future of medallion values (as so many hacks seem to). And I defer to your obvious knowledge and experience in matters of medallion financing. It's the details of 'rideshare' - Uber specifically, where you are on shaky ground. Again - I agree with you when you point out to NYC medallion owners that while it may be raining at the moment, in fact the sky is not falling.

My comment above was not made to deride you in any way. It was to inform the readers here who do not know who you are about your vested interest in the medallion industry - and to remind them to read your views with that understanding.
 
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Casuale Haberdasher

Well-Known Member
chi1cabby set the standard I try to follow... but mention also must be made of the very smart 'rules' for posting in NEWS established by the UPNF Grand Wizard which serve the forum and its readers so well.
POST # 13/Michael - Cleveland: Props to
YOU, "Great Great-Laker",
for knowing that KEY TIDBIT about our Newest "Hollywood" UPNFer. Two hours
of my Research did NOT reveal what
YOU knew already!

I guess he'll be having a New Set of
Legs #[F]Ubered over to his Office, next.
 

Michael - Cleveland

Well-Known Member
Moderator
POST # 13/Michael - Cleveland: Props to
YOU, "Great Great-Laker",
for knowing that KEY TIDBIT about our Newest "Hollywood" UPNFer. Two hours
of my Research did NOT reveal what
YOU knew already!
It wasn't due to any great research I did...
I only knew of Mr. Meyers because he writes articles for an investment website I follow and one of his pieces popped up in an 'alert' I had set for "UBER".
But that's the great thing about a forum like this, isn't it? COLLECTIVE KNOWLEDGE.
 

Another Uber Driver

Well-Known Member
Moderator
Oh... and one more shout-out is due: Another Uber Driver has shared a lot of his experience with and insight into the taxi industry...
Thank you, Sirrah, for your kind words. I have not read your comments in the comment section of the article, so I must go back to read them.

One thing that I will question in the article, though, and it is tangent to his points, is his statement about how UberXmobiles are distinguished from "unkempt" cabs. His use of the future tense there is incorrect; the present progressive would be more appropriate. I used to think that it would take three, or so years for UberXmobiles to turn into hoopties, but, to hear both UberX and Uber Taxi passengers tell it, it is happening, already. Further, I tend to disagree with anyone who makes blanket statements about unkempt, decrepit taxicabs.

The author of the article does not address Uber's paper losses. While I am no professional investor, I would shy from investing anything in a company that is posting all of those losses. In fact, history is littered with the wreckage of companies whose public stockholders bought in which allowed its private stockholders to rake in the cash, jump and watch the publicly held shares turn to ashes. All of those dotcoms that went dotbomb are merely recent illustrations of this.

While his oblique arguments about the turnover of drivers are sound, I suspect that he is drinking the same kool-aid that many of the anti-Uber posters on these boards have drunk. There is still a large supply of drivers out there. Further, as Uber has lowered standards for UberX in the past, there is nothing to indicate that it will not resort to that once more if a sufficient dent in the supply of drivers to service the demands appears. To be sure, the supply of drivers is finite, but Uber is not yet close to the bottom of the proverbial barrel. Yes, driver retention problems could prove the ruin of UberX, but it is not going to be its ruin anytime soon. Do keep in mind that the retention of quality drivers might pose problems, but, as long as the cost is kept low, or, as the author of the article seems to think, as long as the cost goes down, still there will be demand for the service.

Anyhow, I will read your comments. EDITORIAL NOTE: I went back to the article, but did not see your comments to it.
 

glados

Active Member
Michael, I understand the FHV and taxi industries quite well, thank you. If you have specific issues with the article, then address those issues. Interests I may or may not have should be irrelevant to the value of the arguments made. If you can't address those directly, you have no legs to stand on.
It is generally accepted to disclose any potential conflicts of interest, as it can bias the arguments you make and what arguments you leave out.
 

chi1cabby

Well-Known Member
It is generally accepted to disclose any potential conflicts of interest, as it can bias the arguments you make and what arguments you leave out.
Have you yourself disclosed any potential conflicts of interest in your presence on the Forum? You're either a designated or a self appointed Uber Representative on the Forum. You've also failed to answer the question if you are an Uber Driver.
 

glados

Active Member
Have you yourself disclosed any potential conflicts of interest in your presence on the Forum? You're either a designated or a self appointed Uber Representative on the Forum. You've also failed to answer the question if you are an Uber Driver.
I am not a journalist writing op ed pieces.
 
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