Intelligence

The Mediocre Unicorn

Reporter: Vested Staff

The Mediocre Unicorn: Uber, one of the most highly anticipated tech IPOs of 2019, isn’t exactly living up to its expectations. After debuting 7 percent below its IPO price last week, Uber’s valuation tapped out at under $80 million–a far cry from the $120 million anticipated, according to CNBC. However, the underperformance could signal a needed change in Silicon Valley; an era “characterized by big investments in relatively small ideas and an almost stubborn unwillingness to grapple with the larger challenges facing society and the world,” that could be coming to an end.

So, what’s Uber’s revenue-driving comeback plan to make up for a lackluster launch? Well…it hasn’t quite gotten there yet, according to Bloomberg. The ride-sharing app touted the idea of self-driving cars as a way to cut costs, but hasn’t done much to advance the plan. Nor can it raise prices, or pay drivers less, given recent strikes. What’s a unicorn to do?

Amazon rewards DIY delivery services: Amazon is now incentivizing its employees to quit their jobs at the tech giant and start their own delivery businesses. The e-commerce giant is promising those who take the deal three months salary and $10K to get their company off the ground, according to Fox Business. Amazon’s plans stem from its mission to deliver one-day delivery service to Prime members. By empowering its own employees to start their own businesses, Amazon maintains oversight of deliveries instead of having to rely on USPS, FedEx and other services.

Death of the entry-level job: Congrats, class of 2019! Now, figure it out. The “entry-level jobs” we once knew are no longer thanks to AI and automation, writes The Wall Street Journal. Now, young adults straight out of college are being tasked with more responsibility and more exposure to leadership from the get-go.

Rise of leftist think-tanks: New, left-leaning think-tanks have cropped up at rates much more rapid than previous years, writes The Economist. However, the initiatives they often support–saving the environment, providing education and health care for all, among others–run counter to their funders’ philosophy.

Meme mishap: In an attempt to appear young and hip, Chase Bank posted a meme (albeit a completely tone-deaf one) to its Twitter account. Huffington Post captured the tweet that was later deleted. Chase writes:

You: Why is my bank account so low?
Bank account: Make coffee at home
Bank account: Eat the food that’s already in the fridge
Bank account: You don’t need a cab it’s only three blocks
You: Guess we’ll never know
Bank account: seriously?

What followed was nothing short of a digital democratic uproar, calling out the bank–which was part of the 2008 bailout–for “poor-shaming.”

Using privacy and security to gain consumer trust: People can be just as protective over their hard-earned dollars as they are their first born child. Before potential customers willingly hand you their money, they need to know they can trust you with it. Because money evokes so much emotion, financial brands have to work twice as hard to build trust with their audience. Learn how in our latest blog post.

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