The insider lock-up expires tomorrow.
In other news, via the New Zealand Herald:
Derek Thompson, writing in the Atlantic this month, highlighted the ways in which contemporary millennial lifestyles are in many ways subsidized by venture capital.Unprofitable businesses are currently offering up great deals to urbanites who otherwise would be unable to afford their fancy city-living in large part because of losses incurred as the cost of buying up market share."If you wake up on a Casper mattress, work out with a Peloton before breakfast, Uber to your desk at a WeWork, order DoorDash for lunch, take a Lyft home, and get dinner through Postmates, you've interacted with seven companies that will collectively lose nearly $14 billion this year," Thompson wrote of the "Millennial Lifestyle Sponsorship." "If you use Lime scooters to bop around the city, download Wag to walk your dog, and sign up for Blue Apron to make a meal, that's three more brands that have never recorded a dime in earnings, or have seen their valuations fall by more than 50 percent."He doesn't mention it, but there's another key player in the MLS field: Netflix. As Richard Rushfield has noted in his excellent newsletter on Hollywood business, The Ankler, Netflix is in a tricky position. The vast majority of Netflix's viewers (upwards of 80 percent, according to him) watch licensed content ("Friends" and the like) and in order to create a library of programming audiences will pay for, the company has gone massively in debt: "Netflix is currently in the hole for about $20 billion in debt and obligations and still operating at a loss."...
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We snarked at Uber ahead of earnings yesterday:
