Where does DRIVERS buy the IPO'S that uber set aside for US!!?!?!?!?!?!?!?!?!?
That’s close. Except instead of crashing, they go bankrupt, then restructure and start over with new investors. The old investors take a haircut. CEO’s get payed as if everything was profitable. Employees get no raises because times are tight. That’s modern Wall Street. Look at the History of Mood Media and Muzak.The only purpose of this IPO is so that the current investors in this perpetually money losing operation can get paid. They get paid, they step aside, the new investors elect a Board and Officers (or the Board chooses the officers, depending on how the by-Laws read) and they attempt to run the operation. The wells of credit are already tapped, so, the new Directors will not have any source of new funding. The whole thing collapses and these New Investors are left standing in their underwear in front of HQ in SF, on the door of which is an eviction notice.
Fear not, ants, if Uber and Lyft collapse on a Monday, by Wednesday there will be at least five new TNCs' signing up drivers and two of them will be putting out pings by Friday. Even before the Grand Crash, though, Fubar and Gryft might even merge. For those who want to consider how well that one might work, Google Penn Central.