I don't understand modern day IPOs

[@wesss9353]

Rossmann group ipo. Apple buys 51% Apple: we gottem boys

[@ap5672]

Gold

[@tinfever]

If Apple offered Louis 10 million dollars to retire and he took it, I wouldn't even blame him.

[@wesss9353]

@@tinfever I wouldn't be mad, just disappointed ...

[@wesss9353]

@@tinfever alternatively, Louis would do some crazy shenanigans like jays2cents... blowing up aio's for fun

[@salvadorfonseca7]

Would be hilarious if somehow he gets through a legal loophole and just starts another repair shop.

[@Cyphlix]

Privatize profits, socialise losses. What's not to get? :P

[@BruceNJeffAreMyFlies]

Why you would give your money to a company that isn't profitable.. That's like saying my business plan is to sell air to people, air is free so i make profit, whats not to get?

[@Mbewe_SM]

@@BruceNJeffAreMyFlies there are companies that sell air lmao.

[@disillusionedanglophile7680]

@@BruceNJeffAreMyFlies You don't understand the comment . Let's invest in a company that makes profits on the cheap and deliberately and negligently pollutes the entire gulf of Mexico. (for sake of argument this is an extreme case) The taxpayers (society) of all the countries involved, the states, the counties and the towns and society will pay for the clean up. Not the shareholders who took dividends (profits), in the meantime, the company has no cash to repair damage because all the cash went to....shareholders for dividend. Fair enough I say. (again for sake of argument I use an extreme case) Private profit socialised expense is a common theme in capitalism (ask your corrupt elected representatives, they organised it to be like that and they made money trading those shares)

[@rekt4guud134]

@@BruceNJeffAreMyFlies vast majority of big stock names dont even pay dividends because they're still qualified as growth companies even tho they're worth hundreds of billions of dollars. therefor it doesnt matter how profitable the company is, your profit on shares never comes from the company, it comes from other investors you sell the shares to. the stock market has gone full blown retard since this is the norm.

[@rehmanarshad1848]

@@rekt4guud134 and this is why I would never invest in the stock market. If I could receive dividends no matter how small for each share I owned it would only incentivize me to buy more shares. Having to sell the share to make a profit seems dumb as hell.

[@117rapboy]

Rossman riding bikes talking about things is my asmr

[@Jooberton32]

Yes

[@YounesLayachi]

The camera angle in this video is looking downwards too much in this video I think

[@jeely89]

I watch his videos to fall asleep..not because they aren't interesting but for some reason Louis rants are therapeutic

[@SyntheticParanoia]

Sir, who is this Rossman* you are talking about?

[@kompst_tu]

Yeah I know, it's surreal that so many different forms of entertainment can be derrived from this channel. I think the asmr comes from the way his voice sounds with the mask and him riding over bumpy roads

[@bigpharts]

I never once thought about how fucked Uber is when they have to start owning the cars. Thank you for waking me up to this and how they're full of substantially more shit then I previously thought.

[@SuperSmashDolls]

"Self-driving cars" is kind of the capitalism equivalent of masturbation. "We can't hack it with a real business with real costs, but don't worry, we're planning to get rid of all labor and just have the capital make money on it's own just by virtue of being capital under our ownership!"

[@andyb6851]

I'm somewhat familiar with the "self-driving" shtick and from my understanding it won't be Uber that profits most. The two companies that are years ahead of everyone else in this field are Comma.ai and Tesla. The former isn't even planning fully autonomous cars, while the latter is and if they get there, they can easily gobble up the whole market and thus destroy Uber, without ever having to even talk to Uber. Beware of scammers selling us pipe dreams. And the technicalities that Louis mentions have already been solved, so it's not the real issue when it comes to evaluating Uber.

[@Dan_Tactics]

@@andyb6851 actually, the Telecom companies and the GPS/ mapping companies will rake in the profits too.. self-driving cars will rely on 5th generation wireless networks and data from Google Maps / apple maps /whichever company has the latest and greatest mapping and GPS data. The self-driving cars will need decent network infrastructure in order to properly function, and coordinate. And these companies will most likely charge a premium for fleets of autonomous vehicles to use their networks and services. Without them, they will not have a chance of functioning on their own (individual cars just relying on built in sensors and maps).

[@bobfg3130]

Dude, I think can actually make a profit. They just want to eliminate competition.

[@leonro]

Think about how easy it'll be to just order the car and steal it outright. Order it to an unpopulated place. All you need is an anonymous google account and charge it with a gift card to get the ride. It'll be THE thing to do for any criminal - easy and cheap. You can't just get a normal car out of the parking lot without being found, but these cars go straight to you. Now, they'll probably try some things (like alarms going off etc). I don't know how much of an issue it'll be, but it exists. Someone will definitely try.

[@joebenno]

You should do an hour or longer podcast, would be the best thing to listen to

[@blackandy973]

But only while riding bikes

[@pvshka]

Pretty sure he was on quite a few podcasts, but I can't find them

[@T---T]

This IS the podcast

[@monkeymouse1403]

What you speak about this, it harkens back to the tech bubble of 1998 to 2000 - IPOs with sky high valuations, no profits and nothing but hype. We all know how it turned out. I worked for an educational publisher in the mid 2000s - a few blocks from your business. All they wanted to do was go IPO due to the company using VC money at 15% compounded, the people running the company wanted them paid off to make a big equity payday. IPO didn’t happen and the borrowed money made them declare bankruptcy after I left. Total shitshow

[@Verlisify]

Doordash ain't worth 45 Bil I never understood modern IPOs either. Why you immediately putting yourself into over-valued debt to investors

[@michaelrislingnb306]

It’s “speculated” to be worth 45bil I suppose. The stock market and fiat currency,, it’s all just funny money.

[@jehanzebkhan8063]

its like wework lol

[@johnsmith-vz4sk]

To expand your business and to sell out - you dont need an MBA to understand that

[@Vid_Master]

it is because that is the "perceived" value of the company in it's entirety, including it's positions for favorable future growth. So yea its total BS L O L

[@davidturk6170]

Because you kept a ton of shares to keep. The investors (sheep) paid for your private stash of stock.

[@jcnot9712]

Groupon didn’t come up with the “traction” business model. It was originally used by rich companies like Google to make platforms like KZbin operate as monopolies. KZbin only just started making money, they consistently lost money for some ridiculous amount of time like 10 years, and you could say the business model worked for them even if you disagree on principle.

[@Minecraftrok999]

@@user-xl5kd6il6c but KZbin is very different in concept to many other companies.

[@Deadfireflys]

@@user-xl5kd6il6c which makes watching the lift vs uber battle interesting.

[@Deadfireflys]

@@user-xl5kd6il6c good point, and yet another symptom of how corrupt things have gotten.

[@joemerino3243]

@JC Not I think you've hit the nail on the head. The plan is to swell to a large size, get favorable regulation, and cement yourself as a monopoly. Then the money rolls in.

[@richardangeline2856]

louis im seeing all street raise the camera up a little

[@ashtreylil1]

Deff better than the other video when the camera was pointing only at the ground. I think this is because it's on his helmet.

[@JohnSmith-ff9de]

Just angle the camera a little bit so you can see more of the city when you're riding along. I don't just watch your videos to hear what you have to say; I want to see the city streets/people too whilst you talk.

[@pablotheplug5494]

Yes

[@brucegoatly]

Yup. And the constant movement of the POV tends to give me motion sickness. TBH I preferred the videos when there was a camera on the handlebars. But the sound quality is good.

[@JohnSmith-ff9de]

@@brucegoatly Wow I didn't know that it was possible to get motion sickness from watching a screen. Are you watching on a really big tv/monitor? Surely not a mobile phone?

[@MyGSunny]

is like playing roulette, you bet one 30 shitty companies if one of them hits, they pay you 60X and thats how you double your money.

[@rosmundsen]

Uber will also have to: Buy/lease garages for their cars. Hire mechanics for the cars. Hire car cleaners. The mechanics and cleaners will want to unionize.

[@leonro]

And don't forget that all cars will have to return after each ride for a quick inspection (is anything missing, do they need to be cleaned etc.) because there's nobody to check if there's anything wrong with them at the site, which means a lot of battery/fuel wasted. Either that or they'll rely on customers signaling that their cars have a problem and only then they'll go to inspection, but this will deteriorate the quality of the service.

[@cherryfrost5249]

Please fix your camera mount so its not looking down at the road so much. I love these bike ride videos by the way!

[@marshallhughes4514]

"the nicer the lobby, the shittier the apartment." These are indeed words to live by.

[@TsunoOkashi]

As someone heavily involved in this space, let me say I agree wholeheartedly with many of your points. Let me provide some insight: When a company wants to go public it files an S1 with the SEC. it details the business model, performance, use of proceeds, etc. One of the risk factors for tech companies most commonly listed is lack of profitability (e.g., company has not attained profitability, and unlikely to be profitable in the near-term). Early investors in tech companies are always planning for an exit in the form of a liquidity event. This could be in the form of an acquisition (e.g.m Facebook buying Instagram) or an initial public offering. Valuations for tech companies have been opaque for years. This has largely been due to underwriters creating a market for these companies by using a multiple of revenue and other factors rather than equity and net income. More recently, companies like Palantir have moved to direct listing on an exchange and cut out the middle men of underwriters. Insiders who hold shares are generally unable to sell stock for a period of time after an initial public offering. This “lockup” period is generally several months and designed to prevent insiders from dumping shares immediately. Some unprofitable companies have a path to profitability that relies upon growth first and then expense reduction. Tesla is a prime example of this path to profitability. Uber is a great example of a company which has thrown many things at the wall to try and achieve profitability. Autonomous was one strategy, peak pricing was another, then international expansion and now Uber Eats. At one time Uber was operating on motorcycles and boats in some markets. In the wake of frauds like Theranos, more and more investors are weary of the fake it till you make it ethos of Silicon Valley. Rightfully so.

[@SH-ly1uy]

These companies lose money on every transaction, but they compensate it with higher volume. Wallstreet is a casino thanks to the FED, and venture capital investors want to cash out. That's why IPOs are done today

[@mariusvanc]

That only works (make it up on volume) when you PRODUCE stuff and have fixed costs that get lowered (per unit) with increased volume. Door Dash can't lower their costs by increasing volume. All their costs increase proportionally with each additional unit.

[@thisisakodibox2635]

IPO = Initial Public Offering. ***Puts on shades*** IPO = Investors Pulling Out

[@FTS2024]

Trump's dad should have pulled out

[@michaelelsner274]

@@FTS2024 damn trump is living rent-free in your head

[@FTS2024]

@@michaelelsner274 No, HE pays rent, he got booted, lost the house, senate and presidency. Love seeing so many MAGA tears, losers.

[@maks9644]

louis pls lean your camera backwards a bit, i would like to see in front not on the ground, tnx

[@benjee7739]

People want to believe that "tech companies" can make good on their massive P/E ratios, but the truth is that the odds of that happening aren't much better than they are for more classical businesses.

[@ryanhutchinsen]

The billionaires founders will enrich themselves with stock and bailout before things hit the fan.

[@awesomeferret]

You can too, get going while you still can, lol.

[@pjp_renaissance]

I think the "dirty secret" lies in the value of the company's database. "the company isn't making money but has traction/pull" is usually code for "we can cash in on the user data"

[@MrAginor]

"We lose money on every sale, but make it up in volume"

[@fastmot1on]

Could you please point the camera a little bit higher up so I see some actual New York instead of street and sidewalk

[@SuperSmashDolls]

but that is New York

[@peterers3]

I don't understand modern day IPOs: ( Pump and Dump) Buy lots of a new stock. Get it shooting high up and sell it high make idiots buy it expensivly and sell it cheap.

[@blindaceg]

Its OSRC but real life

[@Retanaru]

Invest into company, siphon out all the data and then let it fail as other people buy into the scam. Gotta double dip that investment

[@shekharmoona544]

The federal government has purchased bonds in companies too keep them from going under. While these large corporations have paid little in tax compared to small business and the average citizen. Amazon is a great example. Small businesses sell through Amazon and pay higher taxes percentage wise.

[@davidvenegas6401]

"Ah sunlight" -A nightshift worker

[@MBarberfan4life]

I tried doing the nightshift. Nope, not for me.

[@greymagician1]

Ahhhhhh! Sunlight hisssssss! - A different nightshift worker

[@louisrossmannsrecedinghair7703]

@@MBarberfan4life same man. It was easier to get work done but not worth throwing off when I had a social life.

[@claqyagami6914]

Amazon RT shift for life(no, not really). Night shift is great.

[@MBarberfan4life]

@@louisrossmannsrecedinghair7703 that was part of it for me too. But, the lack of sunlight and weird schedule was also a big con for me.

[@Sam_on_YouTube]

Profit only matters if you are looking at the investment as something that you keep long term and collect dividends from the profit. If you buy and sell it more like gold, then your interest is the value of the company, the amount of profit potential. But itnis risky, because percieved profit potential, rather than real profit potential can lead to highly exaggerated prices and bubbles in the economy. A handful of companies have done this well. Notably Amazon and Berkshire Hathaway. They invest their profit, rather than pay dividends, and hence show no profit because it all goes back into building assets. Most end up basically the way you were describing where it is a dangerous bubble.

[@neku2741]

I'm dumb af and watching Louis help me be less gullible. I was planning on investing some of my unused salary and was looking at uber since it's popular.

[@cliffordweins8256]

For a sense of scale, it took Amazon more than 14 years-58 quarters after its May 1997 initial public offering-to make, cumulatively, as much profit as it produced in the latest quarter alone. Keep in mind that Amazon consistently lost money for its first several years as a public company.Feb 1, 2018

[@MasterQuack14]

If you are able to peddle, you are NOT "stressing the motor". The stock BBSHD is designed with a 27:1 gear reduction and at 48v will operate at a RPM range of 0 to 200 RPMs. Why does this matter? because a standard 3 phase BLDC motor develops peak torque from zero to half of the maximum RPM before the EMF back feeding effect creates higher resistance and forces the current to drop. The EMF back feeding effect can be reduced through higher voltage or burst phase current 'field weakening' effects. The stock BBSHD is a 20 amp motor and is designed to dissipate 10 amps of heat under standard operating conditions which occurs around 50% max RPM, which is 100rpms at stock voltage and gearing intended to match normal human peddling speed. Your setup is running a significantly higher voltage and current. So, the over all amperage you are running through the motor is overwhelming the motor's ability to dissipate the amount of heat you are generating when running your motor at a continuously higher than rated current. The only thing you would naturally be "stressing" under the assumption you have adequately increased the cooling ability of your now non stock setup is the weak nylon gears that are not designed to take that much torque.

[@rossmanngroup]

This is a really highly intellectualized way of not replying to anything I said. :( If your goal is to go 20 mph, and you utilize the motor at the same gear that you would typically pedal at to get to 20 mph, you are stressing the motor far more than you would be if you lowered the gear. When pedaling, I need to be on gear six or seven to be able to get to 20 mph, maybe 5 if I'm an athlete, but I can easily make it to 20 mph with the motor on gear 1. On gear 1, going 20 mph takes considerably less amperage than at gear 5 to 7. You put less stress on the motor to go any given speed if you are in a lower gear that is capable of that speed.

[@MasterQuack14]

@@rossmanngroup I do apologize if my advice was taken with the perception of ill intent. I was just attempting to help you understand what is going on and expand your knowledge about the nuances of how BLDC motors work. I understand what you are saying, and you are technically correct when you are talking about the effectiveness of torque multiplication for acceleration. I think the fundamental disconnect is that I view the word 'stress' in a negative manner, that is why I said that if you are running the motor within the rated power and speed that the specific gear you are in isn't considered 'stressful'. I believe what you are trying to say in a round about way is that using a lower gear to take advantage of the higher RPM limit and greater torque multiplication is far more efficient (which also produces less heat***) Also note that speeds above 25 mph, the largest power consumption factor is wind resistance, not gear selection. As long as the motor and over all gear reduction can produce enough torque to achieve the target top speed with acceptable acceleration, you won't actually find much benefit from multiple gears. This is why the Formula E series racers only have 2 gears, one to get rolling and then one to race, and all the Tesla vehicles have a single fixed ratio gear reduction. Where the BBSHD and multiple gears really shine is in low speed and low power applications. For example, I can dump 10KW into a QS motor on my electric enduro bike blasting up to 60 mph, or I can just cruse at 20mph sipping power at only 500w. For my BBSHD I only use 2 gears 1st and 7th. 1st for starting and steep hill climbing and 7th for cruising. The top to gears tent do suffer greatly from the chain skipping teeth, as the BBSHD stock torque @1500w is more than enough to cause trouble.

[@fakename3344]

I don't watch really many vlogs but I enjoy these commentated bike rides around new york. Good content as always.

[@Chiszle]

As long as they're buying the stock, the music keeps playing.

[@ferinzz]

When I was taking massage lessons I remember clearly that our instructor (and the business owner) specifically said NOT to do anything with groupon. The people participating in that are not going to become clients, they're just using the thing to get things for cheap. Which is not at all what you want as a business.

[@migkillerphantom]

"I don't get loss porn" It's simple. Life is so pointless and depressing nowadays that people care more about upvotes than their own futures.

[@bannanas117]

Or make crazy money in a week or lose it all then work for the rest of your life so you have enough money to eat out once a week

[@metamorphicorder]

Its horizontal expansion, you are engaging in a financially risky venture, so you find a way that is very low cost to implement that if your venture doesnt pay off, you can defer or hopefully eat that loss and even make some profit even if its over a longer term, i mean if these guys make money when their investment works and they make some money on the side from that, thats good. If they lose and that also makes them some money, then that is good too. Im not saying that its some magical idea or that its some sort of money printing machine 'hack' but thats probably why they do it. Theres a principle in marketing and brand building, that it doent matter if people love you or hate you as long as they know who you are.

[@XSpamDragonX]

seems more like, "well I fucked up, better get some internet points out of it"

[@deimosphob]

In the depths of horror that exists in my mind, I retrieve this ancient artifact... | | I | | | _ *Pr0n*

[@jamesdnh]

Think we all just think "dang I did that. Help alleviate my pain by any means at all"

[@PyroCatus]

6:47 "Bike lane" are words used to describe free car parking spot in my city too.

[@FatherPhi]

IPO, make money, leave the company, what's not to get?

[@6581punk]

IPOs are usually about raising a lot of cash for the business to expand and grow. It's usually when they get a takeover that people high up in the business can sell their shares. Generally it's startups that get reasonably big and then get taken over where the directors get rich, get really frustrated with the bureaucracy and lack of control and then leave to start another business up. This is where the company buying the startup business always screw up, they should be buying the ideas and creativity of the founder, not software, IP and stuff which will go stale pretty fast (depending on the market).

[@GeorgeMonet]

Except a lot of big IPOs they don't leave, they retain a controlling interest. So the IPO is mainly to bring in/make money from investors. But the investors will still be collecting money long after the IPO and even though the investors do none of the work that makes the company money. The entire system reflects that the economic system has a gross inefficiency in resource allocation.

[@lacucaracha111111]

* Make money with company being run into the ground because you spend more than you make, while not having that visible to investors

[@BruceNJeffAreMyFlies]

'Whats not to get' why you would give your money to the guy with that plan? How are you expecting to get it back?

[@hailtothejew1944]

I've been ranting about this for years. Its so insane I think most people's minds reject that its actually happening

[@hene193]

I havent listened these in a while. The audio quality is super nice!

[@jcnot9712]

Lmao I had almost forgotten that the first few of these sounded like Louis was riding the world’s fastest jet ski.

[@chebochevato8336]

In a world of 5 minute you tube videos, I'm glad someone posts videos with substance. Sometimes 5 minutes is enough, sometimes it isn't. It depends on the subject matter. Oddly enough, it's interesting to see NY city, from a locals perception, as I've never been.

[@erwinjitsu_3706]

So far the comments: 60% - IPOs 30% - Fix the camera 10% - NY stuff.

[@SomeGuysg]

1% Unit pack power

[@ProjectDelta1]

Imagine Louis going public and throwing stuff at people in a quarter earnings meeting.

[@wesss9353]

Don't threaten me with a good time!

[@danielmorton1606]

He needs to franchise 100 shops with debt first to be losing enough money.

[@tannershep3311]

quarterly btw #love

[@Car_D_Board]

I feel personally attacked. I just got a Robinhood account

[@IAmPattycakes]

You can buy normal stuff with a Robinhood account. Ain't no shame in ETFs.

[@mjouwbuis]

Being a publicy traded company also means you're not in charge anymore. It gives profitable or potentially profitable companies an incentive or even force them, to go for short term profit. Philips was once comparable to Samsung and Foxconn together and sold off and keeps selling off everything instead of just reorganising.

[@BlindMango]

I remember one comedian saying he didn’t understand modern tech companies who didn’t make a profit, then realized they’re all just a giant stock market scheme

[@jeremyashford2145]

Loss-leaders serve two purposes: 1 Bring the customers in, and 2 Kill the opposition. With no opposition you have a monopoly and can charge what you like for your product or service, and treat your employees like trash.

[@anjoliebarrios8906]

Big companies can afford to lose a lot of money for the purpose of making a monopoly by undercutting. When the monopoly is finally secured, then they can do things like raise prices. That's what happened to competitors to Disney's dolls: they got undercut and chased out of the market, and then Disney was able to maintain a monopoly

[@splintercelloo7]

I keep raising my phone ever so slightly during this vid. And is that dating advice I hear @ 15:35 😆

[@PappaMustafa]

You should do a podcast on a tandem bike and have the guest sit behind you and just talk!

[@matthijskkr]

I think you're missing the point. The strategy of these companies is that they are making a monopoly position for themselves, once they have it they full go full bonkers on that price, and stocks will go up. This is especially true for companies owned by giga corporations, or just backers with deep pockets. Because the only way to make billions is to get something closer to a monopoly position where you are the best/biggest one offering a service or product. Once you're the only supplier to something, you can make some BIG profits.

[@newperve]

The problem is that Doordash and Uber don't have anything that can't be easily replaced if they attempt monopoly pricing.

[@thehoovah]

Yeah thats why they havent raised prices. They know what will happen. The instant they raise the prices the taxis will rush in and fill the gap. They are hoping some golden goose comes along before the market realizes they will never turn a profit.

[@newperve]

@@thehoovah Not taxis, another app will do it. They priced that three idea works and paid a lot of the first mover costs. Nothing to stop another app who didn't have those crusts moving in.

[@randor7969]

​@@newperve If there are very few drivers, the app is not convenient, if there are very few users, its not worth it to use as a driver. Furthermore, the new app would either have to artificially lower its prices in an attempt to get a market share (like uber is doing but this time they arent even first), and going into debt, or be subject to the same operating costs as uber, minus efficiencies of scale.

[@QoraxAudio]

Always love the one man applause at the beginning of your cycling videos.

[@kerrell95]

New title: I completely understand modern IPOs.

[@xedjflowx]

The reason you're supposed to ride in direction opposite of traffic is to reduce the amount of accidents that occur. The idea is that if you see them coming/swerving, you can do something to avoid it, because you are facing that direction after all

[@unregulatedcapitalism4002]

"I don't understand Bitcoin." Well I don't understand how a small 3 bedroom house built 70 years ago that fits 2 people, can cost 10x the average person's annual income. I don't understand how a business like Amazon can make $0 in profit for almost 2 decades and continue to receive seemingly unlimited funding. I don't understand how rent for a 1 bedroom apartment costs 40% of the median household income of the area. I don't understand how the Federal Reserve can simply add more money to the money supply at-will without any oversight from the democratically elected congress.

[@ethanstump]

ohh, ohhh, i do! i do! like our ancestors did it, but with extra steps! srsly though, if you do want to learn more, go to economics professor Richard Wolff, and his channel, democracy at work.

[@benjaminmeusburger4254]

"Amazon can make $0 in profit for almost 2 decades and continue to receive seemingly unlimited funding" - well, to be honest every company did something wrong if they declared a profit. You can simply reinvest the money into new projects or pay everything as a bonus to your worker in the end of the year to prevent a profit in the balance. Imagine it like this - December is coming around and your guy in Finance tells the boss: "We will have a profit of 50k in the end of the year". Then the boss goes to the IT-guy and tells him: "you wanted a few new servers, right? Order them and make sure that we get the invoice in December". Then they are billed 10k and have only 40k profit around. Next they discuss the procurement of new heavy equipement (200k total) and decide that they want to buy it in 2 years. They are allowed to write of the expanditures of that over 5 years (up to 10 or 20 years if it is a non-moveable object like building or plant). Therefore they can financially 'write off' those 40k profit as future expenditure onto that equiment. In case that they do not buy the equipment, they would have to dissolve that account and have that amount as profit.

[@bobfg3130]

@@benjaminmeusburger4254 Companies don't pay their workers more. They funnel the profits to executives or owners as fees.

[@benjaminmeusburger4254]

@@bobfg3130 Maybe in the US ... I live in Austria and it is not unheard of, that the workers get a unscheduled x-mas bonus.

[@bobfg3130]

@@benjaminmeusburger4254 Not only the US mate. Keep the free market bullshit to yourself.

[@rhythmandacoustics]

I can answer your question. The point of IPO is to raise capital to buy more capital assets such as equipment and so on. The growth companies that make no profit but keeps becoming bigger has plans to dominate the market as fast as possible and crush the smaller companies and when they are the only ones left they are already a monopoly and therefore can control the prices. Lots of tech companies are like this such as Tesla and Amazon. The people who invest in them are investing for growth. Whether it is a good investment is not depends on the school of investment you are in. Remember that most traders are actually speculators.

[@5bagsofpopcorn]

The thing that alot of people don't get is that there was a reason why amazon wasn't making profits. They built up huge infrastructure. So today, they're basically everywhere and no other competitor is close to the service amazon offers. The problem I see is that ubers model can technically be copied quite easily (which happened with lyft). So the "operating at a loss" tactic doesn't make sense because the marketshare can easily drop by alot.

[@StarlightStream]

I appreciate that you fixed the camera angle

[@spin1788]

The camera needs to be tilted up just a little bit more.

[@calebvanwinkle1703]

Regarding your query about IPOs I think the idea of discounting net profit is obviously not a super sound financial strategy but for many of the investors it doesn't matter since the only thing they care about is the overall valuation of the company which going public greatly increases. The company goes public, overall valuation increases, stock prices increases, wall street types by them, other people buy them, and then the financially savy types sell them and thus profit is made. The people at the top of the company understand this; take the founder of we work for example. He doesn't care about his business model or employees, just increasing his networth.

[@jcnot9712]

Poor Eugene and his floor building skills. Every time Louis can’t think of a way to say “I’m broke” he has to take one for the team 🤣

[@thomaschandler5897]

@1:55 you express that you don't understand how the modern American monetary system works. I really appreciate your videos and would love to explain it to you.

[@jacobm2625]

The stock market hasn’t meant much since the govt started bailing out companies. Not a bad place to make money, but you should definitely invest in hard assets as well (precious metals, property, etc.)

[@mtlbiketech7960]

Hey Louis, Glad you found a good bike shop! A good local bike shop is hard to come by these days. Anyhow if you ever need any secondary bike advise please hit me up! Being a bike tech myself for over 20 yrs I've always been a great advocate for repairing ones own and always try to educate my customers on how they could have fixed some basic issues with their bikes themselves with referencing tutorials on KZbin. Anyhow love your content, I support your fight so major hat tip !!! Cheers !!!

[@arooshkumar6890]

I think a lot of people get confused between companies that are unprofitable and companies that make profit but spend a large portion of cash with Research and Development

[@doranku]

The best investment I made on my real bike was heated grips. My gear will keep me warm for about 30m but with warm hands the other 30m I'd be driving near freezing at highway speeds aren't that bad anymore. Don't know if your battery can handle the load though.

[@kraio-sfu]

Wow; did you just flex your bike battery

[@doranku]

@@kraio-sfu Oh no, my battery is only 12 or 18 Ah at "12V". These heated grips turn of within a minute if the battery is detected. I'm just not sure if Louis' batteries can supply enough voltage (>14V) and power.

[@rkan2]

How bout heated gloves though? Gerbing has 12V options and multiple battery options exist.

[@doranku]

@@rkan2 Sounds sensible. I'd prefer the heated grips if you only have 1 bike (but multiple sets of gloves), but heated gloves can be used anywhere. The bottom line is that having warm hands makes the ride so much more bearable.

[@kraio-sfu]

@@doranku Ah, I was only jokin' around. I wish I were able to make myself a Bafang, so it's nothing but smug jealousy. Cheers!

[@rehmanarshad1848]

Louis: I don't understand modern IPO's. Me: Wondering how the hell WeWork got a $48 billion dollar evaluation?

[@lukejbryan9351]

While picking up a repaired Galaxy S9 screen for my mom at a California Cracked Screens shop, I gave the tech your name to give him awareness about Right to Repair. Wrote your name on his copy of the receipt.

[@mrwaleyko]

Reminds me of the show Silicon Valley when they destroyed the pizza app by ordering enough pizzas to drive them bankrupt.

[@mkitty9053]

Vicariously riding through NY while in lockdown - thanks Uncle Louis!

[@hairharbor5080]

Most Uber drivers are against being classified as full time.

[@rmdashrfv]

which is really interesting given that most Uber drivers work full time hours

[@jeffshackleford3152]

What is their reasoning behind this?

[@rmdashrfv]

@@jeffshackleford3152 I think the idea is that they value the possibility of flexibilty even when they aren't working anything that could be remotely called flexibility. It's kind of like how a girl won't want to commit to you if she's used to getting a lot of attention because then she'd feel tied down or she worries that guys will see you and not give her the attention she likes having. It's not about having flexibility so much as it is the mere possibility of flexibility.

[@jeffshackleford3152]

@@rmdashrfv Yes, they are not known for being the smartest in Cali

[@zanizone3617]

I enjoy these on the road commentary-style video. I like looking around NYC. I notice weird things. For instance the zebra crossing lines are way thinner and less spaced than anywhere else I have been. Also, one would think that in such a crowded, traffic jammed city, people would drive smaller city cars (Smarts, Class A's, 500's, etc.), yet I mostly saw sedans and SUVs. Americans really do love their gas-guzzling behemoths, no matter where they live.

[@PierreMiniggio]

Hey ! Can someone tell me which Microphone is louis using while recording on his Bike ? I know his recorder is the H1N (which I have), now I'm looking for the microphone that he plugs into it :P Yes I wanna make videos walking to work and still get a decent audio quality.

[@josephpurdy8390]

I live in a small town in Missouri. When we had a month long shut down. The small business restraunts bought minivans. They hired a driver or, expanded the responsibilities of their employees. One business charges 50 cents per order to be delivered. Another business charges no delivery fee for orders 20 dollars and over. The town size does not exceed a five mile diameter. Door Dash is going to have serious problems competing with this. A small business can bundle the auto insurance with an existing policy. Apply tax write off using these vehicles. The business now has mobile advertisement. The vehicle can be used for a tax deductible travel expense.

[@wrrrrrrrrrr]

who would have though that there are people in this world that still want to live normally, instead of letting the government treat them like rabid dogs.

[@Johngutreaux]

Louis, I have watched this video four or five times now, one of your most underrated.

[@ecchioni]

Stock market is disconnected from reality.

[@martijnp4313]

Seriously, being from the Netherlands (the world's cycling paradise) the cycling conditions over there terrify me.

[@Degofhas]

Dane here (from another cycling paradise) Constantly noticing potentially dangerous situations made it a bit difficult to listen. Their cycle infrastructure is trash and I imagine it's decent in Brooklyn compared to other parts of USA.

[@tonyjones9442]

@@Degofhas Welsh British here. Its just like uk but roads are worse in USA. State of that tarmac, for a world city.

[@panpaletkalg2550]

swimming in east river is like drinking from the holy grail, you either die, or you gain such powerful immunity system that you become immortal

[@whirled_peas]

I wonder if the fact that 35% of all dollars ever were printed in the last 11 months has anything to do with it. Moneys gotta go somewhere, and we all know it's flowing to the top faster than ever

[@sebas8225]

No wonder BTC's becoming so expensive.

[@stuartstein8062]

Adjust your camera how many times you're going to do this

[@thesparkster]

It's a SWAG on what the stock should be worth. Sometimes it's right, sometimes it's high-balled and a quick sell occurs and sometimes it's low-balled and the stock goes higher (which is what you want). Just remember this, unless you are a big money boy and connected with brokerage houses, you come in AFTER everyone the more influential. If you and a billionaire sell at the same time, you go after them, if you buy at the same time, you go after them. Sometimes the socks will trade dozens of times before your trade is handled.

[@TheSh_dow]

That's a way to make "Private gain, public loss"...

[@scottm344]

Really do enjoy the ride along with convo.

[@skatetoexplorevideos2477]

i kinda wished that your camera was pointing up more.

[@shekharmoona544]

REITs are still doing well on the market. It's a great time to buy while they are still relatively low.

[@pawansapkota3970]

I see Louis video notification, I click!

[@cristiancruz5079]

Thanks for this interesting bike chat Louis. I always learn something from yours chats. Btw we have now 66 degrees here in Miami...Greetings from SFLO...Hope you move here soon buddy😉.

[@sesshoumarusama7397]

Cuomo should "invest" a litte more in city cleaning.... or is it just me and too high standards?

[@potathooo]

New yorkers are used to the filth. I think they prefer it

[@moochiekk]

I've read an article about Uber. it's impossible for them to become profitable, unless they use self-driving cars only. Good luck waiting many years for fleets of self-driving cars.

[@sebas8225]

And when they have self-driving cars all the average joes will invest and reap the benefits.

[@Linkisss]

New York looks like it's a few years from becoming the new Detroit.

[@ernestpetros6178]

After going IPO the main goal of CEO becomes profit maximization and cutting down expense to keep the shareholders and potential investors happy. This combination, given the oversaturated market, inevitably leads to sacrifice in quality .... and bingo, consumers are the ones who lose out.

[@TheZeatt]

just 5° higher with the camera next time pls :D

[@garyleewebb]

It's my understanding DoorDash charges above regular menu prices. They also get a discount from restaurants, increasing the profit per menu item ordered. Then there is the delivery fee. And at least until recently, DoorDash was soliciting tips from customers while not giving it to the delivery people. DoorDash was sued for doing that, by the way. It could literally double the cost compared to take out:. A $13 takeout can cost $23 to a DoorDash customer. On some restaurants, I bet the profit exceeds the money given to delivery people. By the way, great video channel. Always wanted to go to New York, but never made it.

[@Adrianzx]

I don't want to be on the ground :(

[@m12warthog]

you are 1005 right about this and doordash I use to work as a driver for them stopped working for them and got more a month off of full SSI benefits I drove for them for about 2 1/2 months in 2020. but also have to take into affect that most people can't afford to pay a good tip due to the pandemic made about avg $30-$45 each day before including the cost i spent on gas before I started my work day I worked except for one holiday i worked and made $70 that day

[@zzhughesd]

Louis rightly so is an Austrian sound money proponent with honest capitalism. Not BS current capitalism.

[@rkan2]

In proper capitalism banks would've let been go bankrupt...

[@jeremiahsonofman1471]

Capitalism was never honest. Contradiction in terms

[@AnonyMous-gt8vq]

@@jeremiahsonofman1471 You have no idea what you are talking about. Maybe read some Hayek or Mises before you run your mouth.

[@sniperpronerfmods9811]

I live in Fort Lauderdale! It's 71 degrees at 7pm! Also the beach/boardwalk and down town are FULLY open, and no maks mandate and we have indoor dining and outdoor too. No income tax, and the roads are new! Stop by lewis!!!

[@ishmaelambrosine6458]

No mask mandaite? Sounds like a great place to get all the different strains of COVID-19

[@sniperpronerfmods9811]

@@ishmaelambrosine6458 nope been here eating out and doing to the beach for 10 months still don't have covid!!

[@mechanicalfluff]

is it just me or do you watch this and try to look up? :P

[@rosmundsen]

Yes. I am constantly trying will the screen to move up.

[@MikeMike-er7kn]

I saw what I thought were trees planted in the sidewalk......do they have leaves?

[@shekharmoona544]

Look at companies during the great depression. They kept retained earnings in the books, now corporate pirates are bleeding these companies instead of being incentivized to keep the company running and making a profit. My example Sears, JCPENNEY and possibly Lowe's in the future.

[@dinothunder629]

i remember youuuu. serpentza and laowhy want their licensing fee

[@circletech7745]

That’s actually not their song. Someone else wrote it.

[@kevinmasilung]

i just realize, Louis you are a slice of life master story teller.

[@ay3436]

IPOs - how the rich skim off the top from everyone's retirement.

[@mightyred1967]

I do love these ‘on the fly’ commentary videos as you go around New York. I have been 6 times from here in the U.K. but you do see another side of the city... the real heartbeat.. Plus, the discussions are really relevant and interesting. None of the MSM spin that you hear everywhere else.. and not too OTT either. For an interesting look on New York rental market, check out cash Jordan on KZbin goes around looking at apartments... still cannot believe people pay $4k a month for an apartment where your bedroom is your living room... he does a good job of explaining New York rental market... Keep up the good work.

[@pazuzudoe2059]

Never been so early.

[@ninjaswordtothehead]

Your videos always remind me a what I always loved about the city; you know, before. All their decisions are based on what they'll take home at the end of the quarter. There is no loyalty or concern for the future of the business or employees. I agree most of it is debt shifting to the small investor; wealth redistribution also requires debt redistribution.