Facebook’s FB, +3.27% initial public offering was way worse.
“In the long run, we don’t see predictive power for future performance from an IPO that drops below its initial price,” she said. Renaissance runs an exchange traded fund that focuses on newly public companies, the Renaissance IPO ETF IPO, +1.13% They’re changing social behavior the way Facebook, Apple AAPL, +1.40% Amazon AMZN, +1.76% Netflix NFLX, +2.67% and Alphabet GOOG, +4.16% GOOGL, +4.35% have done. Thanks to Uber and Lyft, a growing number of people no longer have cars. It’s now viable to live without a car in most U.S. cities and many suburbs.
BrettArends Since Uber doesn't own the vehicles and doesn't employ the drivers, their business model requires people to use their app to hail a ride. We already see Uber and Lyft stickers on cars. Soon, there will be an iApp or similar that pays nothing to Uber.
BrettArends So much success that it’s loosing billions of dollars so far
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