As far as I can tell, your comment only makes the case for the subsidy problem at Uber stronger by arguing that the subsidy problem is still generating growing

As far as I can tell, your comment only makes the case for the subsidy problem at Uber stronger by arguing that the subsidy problem is still generating growing losses even after accounting for IPO-related stock compensation costs. This has been a highly analyzed criticism of Uber since day one. See the Naked Capitalism series on it. It boils down to the fundamental economics of taxi businesses and the intrinsic costs of ride supply in illiquid ride markets like suburbs.