Gurley explains Didi's competitive strength internationally could separately impact Uber's valuation.
“Uber also competes with DD internationally. And so whether or not this affects DD's ability to be competitive is a different force that could impact Uber's valuation.”
Gurley predicts boards will face fiduciary duty claims for using traditional IPOs that underprice shares.
“I think people are gonna come after boards, for fiduciary duty violations for knowingly entering into a process where you're selling a corporate asset at a massive discount.”