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Mark Cuban slams Silicon Valley VCs over Uber's awful IPO and says it could be a wake up call for Valley employees (UBER, LYFT)

Mark Cuban slams Silicon Valley VCs over Uber's awful IPO and says it could be a wake up call for Valley employees (UBER, LYFT)
Jin S. Lee



Mark Cuban says that Uber's IPO is a warning sign for Silicon Valley that the whole unicorn thing wasn't a good plan.




Uber, he says, "isn't a growth company" making its stock a hard sell to investors looking at its losses and mounting debt.




He blames the VCs, who coached CEOs to wait too long before going public.




He suggests that late-stage startups recruiting employees might have a harder time of it.




Visit Business Insider's homepage for more stories.



Uber's IPO was a flop, even though their bankers were using every trick in the book to keep the stock price from crashing on day 1, including reportedly buying shares themselves in a tactic called the 'naked short.'
But investors who were looking at Uber's revenue, burn rate, mounting debt, growth rate weren't biting and now billionaire Marc Cuban has weighed in saying he's not surprised at the rough time Uber had.
He told CNBC on Tuesday that he blames the Silicon Valley venture capital industry.
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