Valuations are "stretched" for a number of stocks. These things are cyclical and always work themselves out.<p>IMO nothing compares with Facebook buying $30 m/yr revenue company WhatsApp for $19 billion. That will probably be the high water mark for this boom/bust cycle. Much like AOL buying Time Warner for $164 billion marked the peak of the 2000 dotcom era.
Even stranger when you consider that the Taxi AND Limo business is collectively an $11B/year business.<p><a href="http://www.ibisworld.com/industry/default.aspx?indid=1951" rel="nofollow">http://www.ibisworld.com/industry/default.aspx?indid=1951</a><p>So if this isn't bubbly stuff, Investors must at least be extremely bullish on Uber increasing its market share.