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Damodaran said, "I would take Lyft on Uber because Uber wanted to be everything for everyone, you would think they would learn from their mistakes, they tried in China and had to withdraw from China. 'to be less ambitious in this sector, until you find a business model, it's better.'
The Lyft IPO has kicked off a so-called "unicorn debauchery," or early-stage public market hive expected this year from high-tech companies that have collected significant amounts of capital -risk and worth in private more than a billion dollars. Among those expected to be released later this year are Uber, valued at $ 72 billion last year; Pinterest, which aims to go public with a valuation up to $ 9 billion; and Slack, privately valued at $ 6.7 billion.
They should learn from the experience of Lyft and predecessors such as Snap, suggested the business school professor.
"You do not want to face Facebook and Google, create a niche and be there," said Damodaran. "The mistake that Snap has made, what Pinterest should not do, is that they thought they might be bigger than Facebook."
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