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And the amount Uber keeps has to go way up too, if Uber is to cease operating at multi-billon dollar per year losses to become profitable. Currently they only t
by mlthoughts2018 8y ago
And the amount Uber keeps has to go way up too, if Uber is to cease operating at multi-billon dollar per year losses to become profitable. Currently they only take 20-25% and the rest of the required income to meet operating expenses is subsidized by VC funding.
And the losses are so large that it likely means both raising prices to riders and reducing the net payout to drivers at the same time.
- toomuchtodo 8y agoHence why Uber is unsustainable without VC dollars. As soon as driver pay goes down further and ride costs increase, their model falls over.