Uber, which priced its IPO last night, starts trading today on the NYSE under the symbol “UBER”. This is one of the most highly-anticipated offerings ever–largest of 2019, and one of the biggest in U.S. history. Outsiders looking in (NoPo among them) are fascinated by Uber’s valuation. Yes, it has decreased some, but $82 billion is still insane (!), particularly since Uber is burning through $$$$$$$$$$$ as it fights to grow its market share and to expand into all sorts of new businesses, including self-driving vehicles and deliveries. Next stop: profitability? #timewilltell
If you’ve never seen a Kentucky Derby race quite like the one you saw last Sunday, it’s because no winner has ever been disqualified due to a foul on the track–ever–in the Derby’s 145-year history. Race officials say Maximum Security, which had the lead from the get-go, impeded the course of other horses (Some are saying he ran like a ‘drunk driver’). Country House, which crossed the finish line second, was therefore declared the winner of the Derby — some 20 minutes later. Maximum Security’s co-owner, Gary West, filed an appeal on Monday, but it was quickly rejected. Next step – lawsuit? Maybe. Neither Maximum Security nor Country House will be in the Preakness next weekend.
On early Monday morning, the first child of the Duke and Duchess of Sussex was born, weighing in at 7 pounds, 3 ounces. Meghan and Harry, who made the announcement via Instagram, introduced the Royal Baby, reportedly born at London’s Portland Hospital for Women and Children, two days later on the grounds of Windsor Castle. His name, as we all now know, is Archie Harrison Mountbatten-Windsor. Unlike his royal cousins, Archie will not receive a title of nobility, and will have only the honorific Master before his name.