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The Intelligence from The Economist

Takeaway lessons: Deliveroo’s listing disappoints

The Intelligence from The Economist

The Economist

Global News, Daily News, News

4.53.7K Ratings

🗓️ 31 March 2021

⏱️ ? minutes

🧾️ Download transcript

Summary

The tepid debut of Britain’s dominant food-delivery app signals doubts not only about the gig economy but also about London’s ability to lure tech-firm listings. Chinese officials love to deploy “cloud seeding” to water the country’s parched lands, but even if it works, it distracts from better water-management policies. And why tweets so often come back to haunt their authors.

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Transcript

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0:00.0

Hello and welcome to the Intelligence on Economist Radio.

0:07.0

I'm your host, Jason Palmer.

0:09.0

Every weekday we provide a fresh perspective on the events shaping your world.

0:17.0

The ability to make it rain may seem like a sign of humanity's dominion over nature

0:23.0

and few countries use cloud-seating as much as China.

0:26.0

But it's not only a distraction from better water management policies.

0:30.0

It might not even work.

0:32.0

And, tweet-in-haste-repent-at-leisure.

0:35.0

The news is filled with stories of people's futures curtailed by their social media pasts.

0:40.0

Our language columnist looks at why tweets in particular are a dangerous record

0:45.0

of what may seem like casual thoughts.

0:48.0

But first, today the food delivery startup Deliveroo made its public market debut in Britain.

1:05.0

In its promotional material, the company emphasized they weren't just in it for that opening bell.

1:10.0

But also the bike bells of satisfied riders and the doorbells of happy customers.

1:19.0

But investors might be less pleased than they had hoped.

1:23.0

The company had priced its shares at £3.90, giving it a market value of about £7.5 billion or £10.5 billion.

1:31.0

That was at the bottom end of their hoped for range.

1:34.0

And that share price slid even further in early trading today.

1:38.0

The disappointing start raises questions not just about Deliveroo itself,

1:42.0

but also about efforts to woo tech companies to list their shares in London rather than in New York.

1:48.0

For the city of London, the IPO is really the biggest and most anticipated listing since 2011, so decade ago.

1:56.0

Tams and Booth is the economist's technology and business editor.

...

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