From the article “Is This Uber’s ‘Theranos Moment?'” To wit:
“Now, much like Ms. Holmes, the founder and CEO had to quit, or resign, to appease those calling for change.
And, much like the previous example – those closest, and who should be the greatest ally for change and stay as to help weather out the storm are also jumping.
Sound familiar?"
Now this appeared yesterday afternoon at about the market’s close, from Bloomberg™, again, to wit:
“Uber Backers Discuss Stock Sale to SoftBank, Others”
“Uber Technologies Inc. shareholders and its board, led by early backer Benchmark, have discussed selling some of their shares to SoftBank Group Corp. and other potential investors, people familiar with the matter said.”
For those who may not have taken the time, nor cared, to click the link I used to note who that “closest” or should be “greatest ally” that was jumping ship was:. It was Bill Gurley of Benchmark™. And with that now makes two points I stated earlier very prescient.
Again, from the above article:
“The optics of such a “jump” while in the midst of such a sh*t-storm at Uber, from my perspective, shows only one thing: You know the jig is up, it’s all about managing the fall, and there’s no need to do that in plain view.”
And the leading lines into my original article:
“There comes that moment where the veiled threats against logic such as the go-to excuse of “it’s different this time” are exposed against the harsh light of reality for all to see with such clarity, “it’s different this time” is precisely the apt statement to show why it was all fallacy to begin with.
Uber™ has just had that moment, and the resulting fallout as I’ve iterated before: Will. Be. Legend.”
And as I stated Thursday: And just like that: Suddenly, then all at once.
via http://ift.tt/2tUSH31 Tyler Durden