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"the Uber CEO got upset with Sacca for trying to repeat his Twitter move of buying up secondary shares in Uber from other initial investors."

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I wonder why management would want to keep anyone from bidding up the share price?

It starts to create a secondary market for the shares, which means over time a price gets set. So the next time they try to raise money, this price becomes an anchor point rather than whatever arbitrary price Uber tries to set based on perceived supply & demand.

Yeah, probably. Even though at first the secondary market props up the price, it is indeed a price.

Ah good eye, thanks, hadn't heard anything at all about that.

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