Some companies with high valuation are actually worthless, because their business volume is poured out with money!

Beijing time September 20, in the eyes of Larry Ellison, founder of Oracle, Uber and WeWork are "almost worthless".

Uber's share price has been sluggish since it went public this year. WeWork's parent company has also postponed its initial public offering (IPO) plan, allegedly preparing to reduce the value of the IPO it seeks by at least half. Uber currently has a market capitalization of more than $57 billion, and WeWork has raised more than $12 billion in venture capital. But in Larison's view, neither company is worth money.

On Wednesday, Larrison held an event at his home in San Francisco's Pacific Heights residential area, where he met with a small number of entrepreneurs and spent more than an hour answering questions on various topics.

He said that although he and Masayoshi Son, founder of Softbank Group, were close friends, he could not find any reason to invest in Uber or WeWork, claiming that the two companies were "almost worthless". Softbank is a major shareholder in Uber and WeWork.

Larrison argues that although Uber finances compete for market share from rival Lyft, the business they get is not guaranteed to remain their own. He pointed out that Uber had no car of its own and could not control the driver. "Their applications might even be written by my cat."

In his view, it would be "foolish" to throw money for market share when customers would not stand with the company. "They have nothing," Ellison said. "No technology, no customer loyalty."

Larrison was amused by WeWork's claim that he was a technology company. "WeWork rented a building from me, split it up and let it out," Ellison said. "They said,'We're a technology company, and we want to get the P/E ratio that technology companies have. It's strange."

Ellison is a director of Tesla and regards Elon Musk as a close friend. He also believes that Tesla may launch an autopilot carpool service, which is 2/3 lower than Uber and can ensure the safe delivery of passengers to their destinations.