Mark Cuban slams Silicon Valley VCs over Uber's awful IPO and says it could be a wake up call for Valley employees

Mark Cuban slams Silicon Valley VCs over Uber's awful IPO and says it could be a wake up call for Valley employees - Business Insider

Uber's IPO was a flop, even though their bankers were using every trick in the book to keep the stock price from crashing on day 1, including reportedly buying shares themselves in a tactic called the 'naked short.'

But investors who were looking at Uber's revenue, burn rate, mounting debt, growth rate weren't biting and now billionaire Marc Cuban has weighed in saying he's not surprised at the rough time Uber had.

He told CNBC on Tuesday that he blames the Silicon Valley venture capital industry.

Read: 3 reasons why Uber had such a 'weird' and terrible IPO, according to a portfolio manager who wouldn't buy the stock [Read More]

Published @ May 14, 2019

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