Lyft prices IPO at top of range
Uber and Lyft IPOs look to me like they are legal ponzy schemes.<p>Both companies lose a crazy amount of money, they have close to zero moat, customers have no loyalty and will go to another rideshare service if it is one dollar cheaper. The fundamentals don&#x27;t make any sense, but still we read everywhere that Lyft and Uber at those prices make sense.<p>The VCs and founders decided to get out while the market is up (and while they still can) and they will sell their shares to the &quot;dumb&quot; public that will buy into another overhyped tech stocks without really understanding the fundamentals. The employees cannot sell before 6 months, they are locked out.<p>After a couple weeks the market will probably realize this stock is overvalued and it will start to go down, but at that point all the big fishes will be out already and who will hold those toxic assets? individual investors and employees that cannot yet sell.