Tuesday, July 17, 2018

M.R.D. Alert: "Uber CEO Believes Profitability Not Critical to Launching IPO"

Well he would say that, wouldn't he?*

When I saw the story this morning I had to take a moment to compose myself and then make a judgement as to whether this headline was funnier than last August's:
Somehow missed this one: "Uber, Seeking a Female CEO....
...has narrowed the list to three men.
Your call, the bookies won't touch it.

From MarketWatch:

Published: July 16, 2018 11:45 p.m. ET
Uber CEO believes profitability not critical to launching IPO
Search for CFO continues
Uber Technologies Inc.’s Chief Executive Dara Khosrowshahi on Monday confirmed that the ridesharing company’s initial public offering is likely to take place in 2019 as originally planned even if its profitability does not improve by then.

Khosrowshahi said he doesn’t believe it’s necessary to make money before the IPO but the company will need to demonstrate a clear road to profitability. What is important, however, is cash generation as he doesn’t want Uber to be dependent on public or private markets for funds to expand, he said, speaking at the Fortune Brainstorm conference.

The public appearance comes as news broke that the Equal Employment Opportunity Commission is investigating the company over a complaint about gender inequity....

For our younger readers M.R.D. was Mandy Rice-Davies.
From a 2012 post:

*For British politicians of a certain age [often referred to as octo or nona-genarians -ed] the scandal surrounding Secretary of State for War John Profumo's affair with the alleged mistress of a Russian spy was highlighted by the testimony of Miss Rice-Davies, a friend of the alleged mistress, Christine Keeler.
From Wikipedia:
...While giving evidence at the trial of Stephen Ward, charged with living off the immoral earnings of Keeler and Rice-Davies, the latter made a famous riposte. When the prosecuting counsel pointed out that Lord Astor denied an affair or having even met her, she replied, "Well, he would, wouldn't he?
We've tried to keep the phrase alive, using it about once per year:...
...One of my favorite usages:

Lord McIntosh of Haringey: My Lords, I am proud of many things that this Government have done. 
I pause to anticipate the interjection—"He would say that, wouldn't he?"...
Lords Hansard text for 6 Feb 2002