Although I was more focused on the IPO terminology, I still think my argument holds true that I don't believe that Uber would have a favorable IPO and that it's unlikely their current/future valuation would translate to market cap, because they're very likely not honestly profitable in their larger markets (e.g. US) because there's no proof they're going by their GAAP numbers when saying they're profitable in the US.

I would love to see documents like SEC filings from Uber, but they won't release those except to investors until they IPO, so it's a catch-22...