• [WEBCAST] Rickards: How To Protect Your Wealth (When This Bubble Bursts)

    Outspoken author and investor James Rickards has a pro-to-pro discussion with Hedgeye CEO Keith McCullough live Friday, July 26th at 10:30am ET. Replay available after the interview.

Editor's Note: If you are an institutional investor interested in accessing our "Black Book" research email sales@hedgeye.com.

Uber | The Pre-IPO Black Book  - zuber

With Uber’s public offering set to follow Lyft’s awkward debut, we’re hosting a black book to review how public markets may meet, value, and track shares of Uber. 

While the company would like investors to see it as the next Amazon, the decelerating growth and profitability challenges may leave investors concerned that Uber’s model is structurally deficient. 

We’ll lay out a data-oriented reasonable range of expectations for valuation and market reception, along with a review of the relevant filings and other available information.

Here are two slides from our deck:

  • Employment Contractor Advantage/Disadvantage: Durability of labor model, other examples, downside of independent, mercenary labor

Uber | The Pre-IPO Black Book  - zq

  • Valuation & Public Market Evaluation: Similar matching functions, sum-of-parts, margin upside limitations

Uber | The Pre-IPO Black Book  - zqq

If you are an institutional investor interested in accessing our "Black Book" research email sales@hedgeye.com