In an interview with Cheddar Friday morning, IPO Edge Editor-in-Chief John Jannarone explains why Uber’s IPO is likely to face the same challenges as Lyft, whose shares just hit a new low after a rough first few weeks of trading. The trouble is that all ridesharing operators face stiff competition and discerning customers who have little brand loyalty. The Uber Eats food delivery venture also looks troubled, with a declining “take rate” especially worrisome. He is more upbeat on Slack, a collaboration hub favored by many young businesses. While the stock’s valuation may appear sky high, the customer base is very sticky and the addressable market is vast.