Welcome to Axis ProRata, where we take just 10 minutes to get you smarter on the collision

of tech, business, and politics.

I'm Dan for Mac.

On today's show, Amazon's Burn Book and the startup that just bought Lord and Taylor.

But first, why Uber stalled.

So it's been nearly four months

since Ride Hale giant Uber had its IPO, and it was a morning of pomp, circumstance, and Uber

eats delivery workers handing out breakfast sandwiches on the floor of the New York Stock Exchange.

But then it took a while for the shares to actually begin trading, and when they did,

they were below its already underwhelming $45 per share

IPO price. And in each of the past two days, it's open trading below $33 per share, all-time lows.

Now, it would be easy just to chalk this up to Uber's massive losses, particularly given that

rival Lyft has also struggled after its IPO, but it seems to be more than that. In short, Uber's

suffering an identity crisis. Remember, Uber was built up as this brash rulebreaker in the image of

former CEO Travis Kalanik. Then the company kicked him out, replacing him with a more sober-minded leader,

Expedia's Darikos Rishahi, who was supposed to professionalize the place. The basic thinking was that

public market investors would never accept the risk of a Kalnik-led

Uber.

But it seems they're also not thrilled with the new version, as the bravado has been replaced by

bland.

The question now is if Uber can actually thrive in the public spotlight, or if the company

that revolutionized global transportation turned into a pumpkin the moment it stopped being private.

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