Carvana?
Safety Car
Joined: Sep 2013
Posts: 4,355
Likes: 2,633
From: Draper Utah
Venture capital. Most of the "big" companies you see out there operate at HUGE losses. Uber, Lyft, Amazon, the list goes on and on and on. Hell, just about every new IPO comes with the financial disclosure that they lose hundreds of millions per quarter and may never turn a profit.
The only people making ko ey are the ground floor guys who cash in on the fools buying it at IPO. Probably making that money at the expense of managed funds like 401ks and mutual funds.
The only people making ko ey are the ground floor guys who cash in on the fools buying it at IPO. Probably making that money at the expense of managed funds like 401ks and mutual funds.
And as a consumer what do we care? Amazon, Uber and Lyft have all been helpful to me and saved me money. YMMV
Burning Brakes
Joined: Jun 2005
Posts: 909
Likes: 215
From: Wisconsin
St. Jude Donor '19,'21-'22-'23-'24
Venture capital. Most of the "big" companies you see out there operate at HUGE losses. Uber, Lyft, Amazon, the list goes on and on and on. Hell, just about every new IPO comes with the financial disclosure that they lose hundreds of millions per quarter and may never turn a profit.
The only people making ko ey are the ground floor guys who cash in on the fools buying it at IPO. Probably making that money at the expense of managed funds like 401ks and mutual funds.
The only people making ko ey are the ground floor guys who cash in on the fools buying it at IPO. Probably making that money at the expense of managed funds like 401ks and mutual funds.
Pro
Joined: Apr 2015
Posts: 608
Likes: 112
From: Howland Ohio
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Team Owner
Joined: Jul 1999
Posts: 26,545
Likes: 46
From: Huntersville NC
They are a new industry "disrupter", selling on the internet, going for market share while working on extremely thin (or negative) margins. Might as well take advantage of the opportunity for consumers while it exists and sell to them at a good price. Here in Charlotte they are giving Carvana tax incentives to move some operations to this area. Seems unfair to me, with all the new and used car dealerships around, and existing businesses that pay their full freight in taxes. The government's criteria for awarding incentives is the number of jobs created but they don't mention the number of car salesman jobs that will be lost from traditional dealers.
Race Director
Joined: Oct 2012
Posts: 17,338
Likes: 6,510
From: Melbourne, FL
Peloton recently filed for IPO, with quarterly losses of like 250M.
Pro
Joined: Oct 2016
Posts: 605
Likes: 95
From: Spring, TX
I bought a Shelby GT500 from them. They had a killer price on it, low miles, rare options and color. Thought it was a good find until I found overspray on every single panel and inch of the car. That along with a few major dings that weren't disclosed and I returned it. They sent their tow truck, picked it up and basically just didn't process my paperwork. Easy process, but wish their pictures were more detailed. I bought the car laying in bed in about 15 min- easiest car buying experience I've ever seen. I basically drove the car for 4 days and 175 miles for free, so not bad for what ended up being a 662hp joyride.
