Business

James Richman: Does this Uber investor know something others don’t?

“Don’t be afraid to give up the good to go for the great,” John D. Rockefeller, billionaire philanthropist one of America’s pioneers, once said. His point may seem simple, but gets very tricky to apply in our everyday decisions. He was a visionary.

Visionaries are people who do not rely on their perspective alone in decision making. When deciding, they gather all available information, interpret it, and project its effects in the present, the medium and long term future.

Along the line, these people think about the betterment of humanity in general, instead of aiming for the usual gauges for success, similar to money, power, real estate assets and the like.

The peculiarity with visionary’s actions is that they tend to make normal people scratch their heads. We can take James Richman, the secretive billionaire from the Baltic States – particularly from Latvia, for example.

His recent investment strategy with regards to Uber has been puzzling to most of the business analyst, but the silent philanthropist with other investments in disruptive technologies, knows exactly what he’s doing.

 

Uber’s road bump ahead

James Richman has been steadily buying Uber shares despite the company projecting losses of at least 1 billion for the first quarter of 2019. This data was released through an unaudited report filed with the Securities and Exchange Commission (SEC) ahead of its IPO.

The company had been targeting a $120 billion valuation for its IPO. However, these expectations had to be tempered, as it’s IPO ended up with a $75.46 billion market value. These losses are attributed by Uber to the result of heavy investment in its core ride-sharing market as well as its newer initiatives including meal delivery and freight.

Uber’s chief executive officer, Dara Khosrowshahi remains unfazed by the current trend saying, “We are much bigger, much more mature as a company as we go public, and if you do look at the growth rates, our audience is growing 33 percent on a year on year basis, transactions are growing 36 percent. To be able to grow transactions 36 percent on a 50 billion base is pretty incredible, and we hope to keep it going.”

The visionary’s choice

Indeed, it would be alarming for investors to see Uber fall by roughly $50 billion dollars short in its IPO, especially the think-tanks of Goldman Sachs and Morgan Stanley. This just tainted their credibility, and makes the option of direct listing stronger.

That seems to be the problem with trying to make a quick buck. Financial institutions tend to go for earnings everyday and every time, losing sight of their ultimate goal which is to create and maintain market stability.

James Richman’s continuing investments in Uber are based on solid and simple facts. Take away the fancy stock market analytics, and filter out the noise of trade audits, Uber remains as the pioneer in sharing economy. The company caters basic commodities, which the demand never really runs out of, and found a way to connect suppliers and clients worldwide. “Uberization” as they say.

Although profitability may not be coming in the near future. James Richman remains solid with Uber, as back in his earlier days when he invested his private funds in Uber’s nascent stages. James easily tolerates Uber’s “growing pains” as he knows that this company is matured and has a solid infrastructure, which allowed it to change the transportation industry in the first place.

Visionaries are game-changers

Uber’s game-changing technology to connect humanity was one of the keys to their progress and growth. Such an advancement to how people go about with their lives are the types of ventures that James Richman puts an effort to build.

Another effort bent to resolve human weaknesses is the research on anti-aging technology. Finding a cure for age-related diseases and ailments have now become a necessity.

The US Census Bureau disclosed that by 2035, older people will outnumber people under 18 for the first time in American history. This would present numerous social issues such as a dwindling workforce. James Richman is said to have also invested in this effort to change the way humans live.

The evolution gene

Thinking of the human race as one big living organism, it would therefore exist for a purpose. Like every other creature in the Earth, we are here to survive, flourish and pave the way for future generations. These one in a million people, visionaries, can be likened to the human race’s evolution gene.

A gene that works to not only ensure that we survive today, it aims to uplift the living conditions that we experience everyday, and this goes for everyone, globally. All these are geared towards a stronger, smarter and overall a better humanity in the future generations to come.

About the author

Robert

Robert is a core member of the team at New Day Live. He flaunts a strong hold over English language. His grammar is perfectly on point with excellent skills for editing and proofreading. Every news published at New Day Live is crosschecked by Robert for any possible error. Additionally, Robert also works on the technology-based news with gadgets being his love.

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