Investing in Uber's IPO means investing in Uber's rivals

What is Uber? It's an amalgamation of a bunch of Ubers of other countries. In a startup's final weeks as a private company, there is a strong incentive to play it safe: no major executive departures, no last-minute strategy shifts, and no billion-dollar acquisitions. Be still, applecart. Uber isn't hewing to that conservatism. The company this week will reportedly announce a $3 billion deal to buy Careem, Uber's principal competitor in the Middle East. The acquisition has leaked out over several...