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That $50b figure is not their revenue, but their gross bookings. For example Uber's last quarter revenue was $3 billion on some $14 billion in bookings, with a
by jussij 8y ago
That $50b figure is not their revenue, but their gross bookings.
For example Uber's last quarter revenue was $3 billion on some $14 billion in bookings, with a loss of about $800 million.
- Gustomaximus 8y agoMy understanding; $14 billion is revenue $3 billion is their earnings after driver costs.
- jussij 8y agoWhy that $14 billion can not be called revenue is Uber specifically structures it's business to make sure their drivers form no part of the business, instead they insist all their drivers are independent contractors. They do that specifically to reduce their running costs and hence maximize the profit on their actual revenue. That would be like saying all iPhone App developers are working for Apple, when in fact all Apple does is take 30% of each and ever dollar these App developer earn in sales. Likewise Uber just puts it's 30% Uber tax on every dollar it's drivers earn.