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This feels like the sort of thing no one should be surprised by. It seems the basic premise of Uber and Lyft was to gobble up market share at enormous cost whi
by burlesona 7y ago
This feels like the sort of thing no one should be surprised by.
It seems the basic premise of Uber and Lyft was to gobble up market share at enormous cost while autonomous cars were getting figured out, then switch to full driverless ASAP.
But full driverless keeps being “just a few more years away,” and it looks increasingly like that’s going to be too long for Uber to avoid running out of money.
- dangus 7y agoI still can't figure out how Uber actually manages to lose money still. They take something like a 20% cut of the fares don't they? How is this insufficient to pay for their platform? I actually think they should be already be incredibly profitable.
- sieabahlpark 7y agoEveryone kind of has massive stock payouts in SF. Apparently this was the large reason why they lost so much money this quarter
- akmarinov 7y agoFares don’t cover what Uber pays to drivers + all the expenses of being a worldwide company with hundreds of engineers, marketing, leases, etc. Basically Wallstreet is subsidizing taxis for people at the moment.