The valuation is based on momentum and direction, with funny numbers applied to the assets and market share to reach such conclusions. The services they've offe

The valuation is based on momentum and direction, with funny numbers applied to the assets and market share to reach such conclusions. The services they've offered as a startup can only be construed as a sample of whatever the massive organization they're building promises: some kind of broader marketplace that they are going to capture via the cab service. This is, of course, massively risky and commits tremendous resources in a very short time. There is no good way of evaluating how this will go, because(as is typical in this generation of tech companies) the KPIs might be the wrong ones for a sustainable business and this gets figured out too late to change course. But that's what the investors were sold on, and that's what they're going to build until the day the cash runs out.