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Old 03-07-2019, 12:34 PM
 
Location: Zurich, Switzerland/ Piedmont, CA
32,320 posts, read 55,123,408 times
Reputation: 15389

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Brace yourselves.

Quote:
Originally Posted by New York Times
Thousands of New Millionaires Are About to Eat San Francisco Alive

As Uber, Lyft, Airbnb and Pinterest plan to go public, California’s newly minted rich will be hungry for parties, houses, boats, bikes — and ice sculptures.

By Nellie Bowles
March 7, 2019

SAN FRANCISCO — Big wealth doesn’t come in monthly paychecks. It comes when a start-up goes public, transforming hypothetical money into extremely real money. This year — with Uber, Lyft, Slack, Postmates, Pinterest and Airbnb all hoping to enter the public markets — there’s going to be a lot of it in the Bay Area.

Estimates of Uber’s value on the market have been as high as $120 billion. Airbnb was most recently valued at $31 billion, with Lyft and Pinterest around $15 and $12 billion. It’s anyone’s guess what prices these companies actually will command once they go public, but even conservative estimates predict hundreds of billions of dollars will flood into town in the next year, creating thousands of new millionaires. It’s hard to imagine more money in San Francisco, but the city’s residents now need to start trying.

Welcomed finally into the elite caste who can afford to live comfortably in the Bay Area, the fleet of new millionaires are already itching to claim what has been promised all these years.

They want cars. They want to open new restaurants. They want to throw bigger parties. And they want houses...


https://www.nytimes.com/2019/03/07/s...isco-rich.html
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Old 03-07-2019, 12:40 PM
 
5,260 posts, read 3,309,355 times
Reputation: 6434
Quote:
Originally Posted by 18Montclair View Post
Brace yourselves.
Won't there be some sort of lag though? I realize it will eventually happen, but I thought most of those with IPO stock options have a certain waiting period before they can cash out (if they want to)?
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Old 03-07-2019, 12:43 PM
 
Location: State of Transition
78,521 posts, read 70,430,585 times
Reputation: 76480
I've never figured out how internet companies like FB and Pinterest make money. Is it through selling advertising space? What is it that generates income on a free platform?
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Old 03-07-2019, 12:49 PM
 
Location: Planet Earth
1,848 posts, read 2,122,871 times
Reputation: 2157
They sell info. About *you* (well, their users).
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Old 03-07-2019, 12:56 PM
 
Location: State of Transition
78,521 posts, read 70,430,585 times
Reputation: 76480
Quote:
Originally Posted by marcopolo666 View Post
They sell info. About *you* (well, their users).
I'm glad I don't have a social media presence.

But really, do they make that much money off selling personal info ( ), that they can pay huge staffs, and maintain major office square footage in super high-rent areas? And now they'll have the additional burden of having to pay returns to stockholders?

There must be more to it.
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Old 03-07-2019, 01:08 PM
 
Location: Eureka CA
8,239 posts, read 11,102,038 times
Reputation: 12552
I thought CD WAS "social media".
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Old 03-07-2019, 01:10 PM
 
1,874 posts, read 2,071,491 times
Reputation: 853
This new article says the contrary but that is the case with a lot of articles and statistics.

https://www.bizjournals.com/sanfranc...ters-move.html
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Old 03-07-2019, 01:10 PM
 
Location: West coast
239 posts, read 76,147 times
Reputation: 321
I done belong to any social media but I do have several accounts with companies like Amazon,U er Lyft and companies like that.
I am thinking that is why I get 20 plus junk calls on my cell phone each and every week.
I block them all but they keep coming.
Not real happy about it.
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Old 03-07-2019, 01:36 PM
 
Location: Zurich, Switzerland/ Piedmont, CA
32,320 posts, read 55,123,408 times
Reputation: 15389
Quote:
Originally Posted by Dave Coe View Post
This new article says the contrary but that is the case with a lot of articles and statistics.

https://www.bizjournals.com/sanfranc...ters-move.html
Your article is 6 months old.
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Old 03-07-2019, 01:37 PM
 
Location: Santa Monica, Ca
6,898 posts, read 3,826,037 times
Reputation: 16266
Don’t worry.. they won’t be invading your neighborhood.
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