[b_tterc_p]

Bearish because an upcoming recession seems likely to have three effects

1) make money more expensive and harder to justify subsidizing rides

2) increase the supply of drivers.

3) decrease the demand

Less demand, more supply, but possibly higher overall prices due to subsidy withdrawal feels like a dangerous thing

On top of that regulatory pressure to treat drivers as employees could decimate Uber at any moment.

Not shorting because gambling on the stock market is not worth the effort. God could declare the true present value of a company’s future cash flows to be $10/share and I still wouldn’t count on the market to get it right- among other bothers.