Technology

VC Guy: Uber Is The Best Business Since Facebook

Elevation Partners Co-founder Roger McNamee spoke with FOX Business Network’s (FBN) Maria Bartiromo about the $50 billion valuation of Uber. McNamee said, “I think among all of these private companies with billion dollar valuations, Uber is the most compelling company.” McNamee went on to say, Uber “I think is the best business idea out of Silicon Valley since Facebook. It’s a really huge idea and a service customers love. It may very well be worth this valuation.”

UBER

Roger McNamee on his take on the $50 billion valuation of Uber:

“I think among all of these private companies with billion dollar valuations, Uber is the most compelling company. It’s the best business model since Facebook. I wish the CEO had not concluded from Steve Jobs biography that you need to be a mean nasty person in order to be successful because I don’t think that’s true. To me, the opportunity at Uber is great because transportation is core to human life and technology does allow you to allocate resources better in a world where people don’t want to own cars. There’s an opportunity for Uber to become the largest owner of cars in the world.”

Roger McNamee on bubbles:

“I think in the private market there is a tremendous bubble initially they call these billion dollar valuations unicorns because really they were so rare. Now there is more than 100 of them you can have a company like Uber again which I think is the best business idea out of Silicon Valley since Facebook. It’s a really huge idea and a service customers love. It may very well be worth this valuation,  but there are a lot of other people riding on the coattails. Hey I’m worth 10% of what Uber is worth and in truth I think only a few of them are going to turn out to be worth that much.”