Uber’s IPO collides with reality as stock slumps

Long-standing fears that the business model cannot work have hit Uber’s post-IPO performance.

Is there a point in every successful investment banker’s career when they lose touch with reality?

Probably when they start making serious money.

Young financial journalists talk to and sometimes befriend traders, analysts and bankers their own age or a little older, some of whom go right to the top. Twenty years ago, I recall being invited to a long Friday lunch by three friends who had just been promoted at one of the big US investment banks, taking them to a point where seven figure salaries were coming into sight.

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