David Rosenthal: belief

Transcript context

…nd they did. There's no pop, so people who bought the IPO, at least so far, did not see an immediate benefit, although, they should be holding for a long time anyway. We'll see what happens in a year. Uber got basically the most money that they possibly could have out of this IPO if they're taking an operating loss of $3 billion a year. By the way, they said they think that will continue to increase this year. They need a lot of money in order to start to pull out of this thing. It wouldn't surprise me again, if we saw a secondary offering at some point, where when they felt good about their share price, they tried to sell more of the company. Yeah, it very much could happen. I think the question is, when will it turn? It's so funny. The scale is orders of magnitude larger than Amazon. I will say, this is the Amazon story and the Amazon history. I think the A-plus case is exactly what Dara and the company had been saying on the roadshow and through the IPO process, which is, this is Amazon. We are bleeding tons of money, but we are building this infrastructure across multiple businesses that will be extremely defensible and profitable in the long term. I think that is an incredible story. It's a very incredible story. The question people are struggling with is how you price it right now. It's an incredible story? This company has raised $20 billion, and they're 10 years old. Can we get more than a credible story?…

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