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Originally Posted by Pedestrian
^^I saw that Theranos show. That's more biotech than tech, of course, but Elizabeth Holmes is quite amazing in the way she took in everybody. I suspect a male might not have been able to do it; who would suspect a beautiful young woman of being a fraud? And she was so convincing it almost seems like she believed her own BS.
I remember when Theranos was still "up and coming" and I remember thinking, "How can they do that?" Guess they couldn't and didn't. But most of what's called "tech" these days is just buisness conducted over the internet and a lot easier to figure out. I just ask myself whether they are selling a service I or anybody I know would really want. Take grocery delivery (and recall the 2000 failure of WebVan): I don't really want someone else picking out my perishables at least (meat, veggies, fruits). So I don't really see these businesses that either deliver such items or even the "meal in a box" outfits surviving long term. On the other hand, I consider the rideshare services as genuinely disruptive and necessary. I think they'll make it in some form though maybe government will force it to change from the way it is today.
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Lyft fell below its IPO price today. Down 11% even as the Dow was up over 300. Another tech bubble popping? Most of these IPOs may never make money in my opinion. They may be "disruptive" but profitable? It might rebound but we'll see. I wouldn't touch Uber IPO with a ten foot pole. Most tech & "Silicon Valley" stocks seem overvalued. Bought some put options on the QQQ today in case we are at or near a top in big Nasdaq/tech stocks. I have some time on them in case the rally extends a bit. Might even retest the Dec. lows in my opinion by May/June after this rally runs out of steam. 1st quarter earnings start coming out in the days ahead. We'll see how much they meet or exceed or miss expectations.