Uber's Stock Disappoints, Capping a Rocky Path to Its I.P.O.
Source: New York Times
Over the past decade, Uber changed urban transportation, disrupted entrenched taxi industries, defied regulators the world over and beat back questions about how it was altering the nature of work.
On Friday, it was tamed by Wall Street.
The ride-hailing giant’s first day of trading on the New York Stock Exchange began with a drop of almost 7 percent from its initial public offering price of $45. Uber raised $8.1 billion and its I.P.O. valuation of $82.4 billion made it one of the most valuable companies to go public in the United States, but that was far less lofty than had been anticipated before it began pitching its shares to investors.
Read more: https://www.nytimes.com/2019/05/10/technology/uber-stock-price-ipo.html
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and talked to the driver about how much of the money he got to keep, how much he made a year etc. He was very honest, and I was floored by how Uber drivers are fleeced by Corporate. I gave him a $20 cash tip for a $39 ride. Next time I checked my emails Uber wanted me to "give the driver a tip". I'm sure they'd take a cut out of that as well if I did it on-line. At the very least the drivers tips will be recorded on his W-2 and be taxed. That's why the cash tip. No electronic footprint. I have not, and will not, use Uber again. 
Screw them!
