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Über
Apr 24, 2019 13:38:22 GMT
Post by Big Blue on Apr 24, 2019 13:38:22 GMT
I was going to post this in Crypto Currencies as there are a lot of analogies but given it’s Über I have started a new thread.
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Über
Apr 24, 2019 13:40:25 GMT
Post by racingteatray on Apr 24, 2019 13:40:25 GMT
I do enjoy the comments section of the FT.
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Über
Apr 24, 2019 13:54:46 GMT
Post by Tim on Apr 24, 2019 13:54:46 GMT
Excellent
I think that could be applied to so many of the fabulous new tech companies. I still can't get my head round, for example, Spotify listing at a share price that valued them at $23B yet they've never made a profit, aren't close to making one and as time goes by will become less trendy as the next new thing comes along.
Same for Tesla whose market cap was (maybe still is) greater than Ford yet they make about 1% of the number of cars, have been in business for less than 10% of the time and have never, really, ever made a profit.
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Über
Apr 24, 2019 14:31:06 GMT
Post by Bob Sacamano v2.0 on Apr 24, 2019 14:31:06 GMT
It took Amazon 14 years to turn a profit after its IPO. I wish I'd bought shares then.
Spotify has finally made a profit after 13 years (although they are expected to slip into the red again).
I always think that financial commentators are like music critics - earning a meager salary, telling everyone why the music is crap, while the artists take their cash home in wheel barrows.
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Über
Apr 24, 2019 18:30:20 GMT
Post by Deleted on Apr 24, 2019 18:30:20 GMT
Or food critics. They're much worse than film or music critics.
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Über
Apr 24, 2019 19:10:37 GMT
Post by Alex on Apr 24, 2019 19:10:37 GMT
I’ve never used Uber or Deliveroo or a number of other such firms. I’m not overly impressed with they way they’ve come in and run roughshod over employment and tax laws whilst pretending they’re making all our lives better. Amazon are another I avoid. They may say they’ve created lots of jobs but it’s mostly low paid ones with poor working conditions that sidestep pension and NI contributions at the expense of good retail jobs that gave workers proper security. The retailers who have been badly affected by the rise of Amazon were paying they’re way and contributing taxes to the treasury whilst Amazon have pretended their UK operation is not actually a UK operation and so can deny us the tax revenue we are due. Our local Amazon delivery driver smokes around in a 15 year old Transit creating much more pollution than a modern van which can’t be good for local air quality when extrapolated across the country. Uber are just as bad in this respect. My uncle works as a vehicle inspector in N.London inspecting minicabs and some of the sheds the Uber drivers try to get him to approve are unbelievable.
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Über
Apr 29, 2019 8:39:53 GMT
Post by Tim on Apr 29, 2019 8:39:53 GMT
The proposed share price for this values the whole of Uber at $90 Billion.
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Über
Apr 29, 2019 8:50:10 GMT
Post by Bob Sacamano v2.0 on Apr 29, 2019 8:50:10 GMT
I’ve never used Uber or Deliveroo or a number of other such firms. I’m not overly impressed with they way they’ve come in and run roughshod over employment and tax laws whilst pretending they’re making all our lives better. Amazon are another I avoid. They may say they’ve created lots of jobs but it’s mostly low paid ones with poor working conditions that sidestep pension and NI contributions at the expense of good retail jobs that gave workers proper security. The retailers who have been badly affected by the rise of Amazon were paying they’re way and contributing taxes to the treasury whilst Amazon have pretended their UK operation is not actually a UK operation and so can deny us the tax revenue we are due. That's not completely true. My mate worked for Amazon for 4 years and when he left the share options he'd been granted enabled him to pay off his mortgage. His son began as an apprentice at Amazon and is now a shift supervisor, overseeing the robotics and earns over £50k a year at 21. It is true that if all you want to be is a warehouse picker then that's all you'll get paid for, but the opportunities within the organization are tremendous. Amazon also contribute enormously to the Treasury through PAYE tax and NI, rent and rates to the local economy, and supply chain development. I'm not sure there were many good retail jobs, most were below minimum wage, with little security of employment, no pensions, and many cash in hand, off the books, so no tax or NI.
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Über
Apr 29, 2019 9:00:28 GMT
Post by Martin on Apr 29, 2019 9:00:28 GMT
I’ve never used Uber or Deliveroo or a number of other such firms. I’m not overly impressed with they way they’ve come in and run roughshod over employment and tax laws whilst pretending they’re making all our lives better. Amazon are another I avoid. They may say they’ve created lots of jobs but it’s mostly low paid ones with poor working conditions that sidestep pension and NI contributions at the expense of good retail jobs that gave workers proper security. The retailers who have been badly affected by the rise of Amazon were paying they’re way and contributing taxes to the treasury whilst Amazon have pretended their UK operation is not actually a UK operation and so can deny us the tax revenue we are due. That's not completely true. My mate worked for Amazon for 4 years and when he left the share options he'd been granted enabled him to pay off his mortgage. His son began as an apprentice at Amazon and is now a shift supervisor, overseeing the robotics and earns over £50k a year at 21. It is true that if all you want to be is a warehouse picker then that's all you'll get paid for, but the opportunities within the organization are tremendous. Amazon also contribute enormously to the Treasury through PAYE tax and NI, rent and rates to the local economy, and supply chain development. I'm not sure there were many good retail jobs, most were below minimum wage, with little security of employment, no pensions, and many cash in hand, off the books, so no tax or NI. I worked closely with Amazon for a couple of years and agree with Bob. Alex is right when it comes to a decent proportion of the 'independent' delivery drivers, but working directly for Amazon isn't anywhere near as bad as people think. I know a few people who've paid of their mortgages thanks to the share options and increasing share price and one who's been there over 10 years so has done that plus given himself a very healthy pension fund. The guy that heads up logistics in Europe was in the top 25% of employees with 6 years service, but that's mainly because they're growing so quickly and there is always going to be high turnover in their fulfilment centres. I use Amazon a lot, because the delivery service is so convenient. Really quick when I want it to be (we're in a same day postcode for sortable items) and I can use the app to make sure larger items arrive on the right day for me. I've used Uber a fair few times as well in London, Birmingham and Singapore. Again, because it's convenient and decent value.
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