But given that Uber is not profitable now competing with Lyft both with human drivers, why would it be profitable tomorrow competing with Waymo both with SDCs?

But given that Uber is not profitable now competing with Lyft both with human drivers, why would it be profitable tomorrow competing with Waymo both with SDCs? Even if the profit is no longer negative, it should be near zero since there is not much moat, and it's not even clear whether Uber would be able to compete at all against Waymo (better tech) or even carmakers who own the cars. The only thing Uber has is brand recognition, but Google Maps actually has even more brand recognition and that's where Waymo is going to be unless antitrust prevents it somehow.