Uber should be very happy with Lyft's IPO result
Lyft started trading earlier today and already up 20%, market cap close to $30B.
Given that Lyft has pretty ugly unit economy, Uber and its investors should be very happy now as the market has proved to favor growth more than anything. I think it’s safe to say now that Uber will be at least $100B, if not the $120B the banker talked about initially.
Downturn, what downturn?