Saw this online someone made. These are directly from their S1 Airbnb has never made a dime ever. Even has operating losses. Anyone who says “we are profitable” is BSing. This is straight from their own S1 Airbnb also says “we might never make money” Doordash even had loss in a pandemic. Think about it. A def of Ponzi is a system that needs continuous new money to survive and can not sustain itself from its own operations. If the new money stops it collapses. Both these companies including Uber , Lyft are ponzi s. They have never made a dime and were hyped because of SV VCs pumping money last 10 years to dump on public in an IPO. But this is an unpopular opinion. Many wil hate it because these services seem “cool”. A cool thing doesn’t mean it’s a business and it also doesn’t mean entrepreneurship. EDIT: added def of Ponzi as many ppl here don’t even know that.
I like these companies and their product but That high valuation definitely seems shady.
This coming from Facebook - means a lot. What would I do if there were no feeds showing off or dumb people doing dumber things or same forward circulating on WhatsApp a thousand times! Really.
Lol. FB makes billions. It’s a real business but u won’t get it the purpose of this post
How does WhatsApp make money?
How are these ridiculous money losing ventures able to command such incredible multipliers, while other companies ahem with real revenues and incredible growth are not?
Because we are in an era driven by milllenkals who use these services and find them “cool”. Who cares about numbers
Nothing is stopping companies with real revenues and incredible growth from IPOing now. In fact, conditions have never been better!
You missed the biggest ponzi of all: Snowflake. Trades at >200 sales with 100B valuation. Mind boggling.
That line about never making money is in every S-1
Yeah only in those companies which are Ponzi. Like yours and Lyft. You don’t find in FB or google ?
Did you read their s1. That's standard legal language to reduce lawsuits.
Lmao stock is forward-looking, not backward-looking
It’s been 12 years dude. Stop this nonsense
All companies have to write those lines in their S1s, it's a legal fine print. They have to write that among a lot of the things as part of 'full disclosure'. Airbnb made 220mm in Net income in the quarter that ended in Sept 2020. But that's not to say that it'll continue to make money. A lot of companies do financial trickier before going ipo. I wouldnt go as far as calligg them ponzi. They did not raise the price to 86bb, Airbnb valued themselves at 40-50bb. It's the market that took them to 80-90bb. 40-50bb is 10x sales. That's where all these loss making 'start-ups' are.
Show me FB and google S1 which said that ? Also didn’t u see the post and image? Airbnb didn’t make money in net income in September 2020. What crap are u talking? Third wiki Ponzi def. a system that cannot sustain itself and needs constant outside money is known as a Ponzi. Care to do some research?
Who hit you child?
Op is salty that while uber/lyft/abnb provide real service and make people happy, news feed just feeds partisanship and is tearing fabric of society. While these services are selling transport/accommodation, fb is selling manipulating you to highest bidder though dopamine addiction. You can own stock of Altria or philip morris and will still be saint compared to fb.
You can keep talking this crap but none of ur Ponzi and Uber would exist going forward. Whie FB would. At least FB makes money and pays taxes to govt and contributed to society. What the fuck u guys do? Leach restaurants, break laws and regulations and screw normal drivers ?
Calm down OP, please. Why do these company businesses trigger you so much? As a consumer, I love services of Uber/Lyft/Airbnb/DoorDash, far more than Facebook obviously. If I have to delete one of these apps from my phone, I would delete FB first (which I should do anyways!)
Op is jealous of DD & ABNB millionaires making more than him and had to vent through Blind anonymously. Stonks are at an all time high and valuations are defying any logic. Look at SNOW, TSLA, Zoom, PLTR and countless other such stocks that have insane valuations. ABNB & DD are following a similar trend and going with the flow.
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OP needs to understand that if these overvalued ponzis are gone overnight then his TC will go down quickly as the market will have over supply of software engineers. Just saying.
How about Amazon in 2000s?
How come there are no thousands of Amazons then? This argument is getting old.
Can u for God’s sake stop comparing Amazon BS. go and read 10Q. Amazon always had operating profit since year 2. Pls stop this Amazon BS. I had been hearing this since Uber 4 yrs ago. You just sold all ur “profit seeking” ventures.