Stubhub's IPO
Hiya kids, I don't really have anything to offer today so I will once again muse on my favorite subject, concert tickets and specifically the secondary market. I don't know much about investing but I do know the other subject at hand quite intimately. A lot of people think they know but almost every internet comment I have ever seen on ticket resale has been completely wrong. So if you are considering buying into the Stubhub Initial Public Offering, read on. I really had no idea how such a garbage company was able to claw itself out of the doldrums where Vivid was ruling the post-Covid roost and SeatGeek was rapidly ascendant back to around 40% secondary market share. Turns out, as Dave Wakeman from the excellent Talking Tickets newsletter and The Business Of Fun podcast pointed out, they spent in the neighborhood of $750 million on advertising last year. Yet it's apparent they have neglected setting aside a relative pittance for site infrastructure and to hire competent st...