Lyft raised $2.34 billion on Thursday in an IPO that was 20 times oversubscribed. In other words, the underwriters received about $47 billion of orders for Lyft shares — more than double the market capitalization of the entire company.
The Levi Strauss IPO, last week, was 10 times oversubscribed. A raft of other IPOs could raise as much as $100 billion on U.S. markets alone this year. Uzbekistan's recent global bond offering was more than 5 times oversubscribed, and came on the heels of a similar bond from Tajikistan, which was 8 times oversubscribed.
President Trump's lawyer Rudy Giuliani hailed Fox News' "Justice with Judge Jeanine" host Jeanine Pirro as a "crusader for justice" as she returned to her show Saturday.
Why it matters: She's been off the air for 2 weeks after the network condemnedcomments she made on her program suggesting Rep. Ilhan Omar's wearing of a hijab meant she followed Sharia law. Pirro was to appear on "The Sean Hannity Show" Friday night. He said she canceled because of a "serious family emergency."
Lyft's initial public offering this week was the first of several expected from some of Silicon Valley’s hottest tech companies in the next quarter (or two).
Why it matters: These companies are among the Silicon Valley tech startups that remained private for years, but they're finally making their public market debuts — and letting employees and early investors cash out.
Andrew Yang has focused his 2020 presidential election platform around a proposal for universal basic income, which he calls “The Freedom Dividend.”
Why it matters: The proposal is based on the notion that automation will eliminate millions of jobs for Americans and that this could help cushion the blow.
As TV advertising sales season approaches, traditional East coast media companies are under pressure to hold on to precious content rights or create popular programming to keep users from ditching their cable packages.
What's happening: Apple, Amazon and other West coast tech giants, keen on gaining subscribers, are bundling news, music, movies and TV shows. They can give away some content or charge less than traditional content companies thanks to the fact that they can make money from selling hardware (Apple) or goods (Amazon).
At a MSNBC town hall on Friday evening, Alexandria Ocasio-Cortez responded to Republican criticisms of the Green New Deal and shared her policy details on the resolution, pointing out that a primary focus of plan is to simply make climate change a "national priority."
Why it matters: Highlights of the town hall resulted in viral moments on Twitter — like AOC admonishing an audience member who called former Rep. Bob Inglis a "moron" — but actual policy discussion took place, too. A key point of focus: "transitioning" fossil fuel workers into new energy jobs.
President Trump tweeted on Friday night, calling for the joint Pulitzer Prize that the New York Times and Washington Post won in 2018 to be voided for the outlets' coverage of Robert Mueller's Russia investigation.
