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1) Uber is a public company now, it has not been VC funded for a long time 2) Regular taxi companies generally also treat drivers as contractors
by nerfhammer 7y ago
1) Uber is a public company now, it has not been VC funded for a long time
2) Regular taxi companies generally also treat drivers as contractors
- chrisseaton 7y ago> Uber is a public company now, it has not been VC funded for a long time I don’t think those two things are exclusive are they?
- xenospn 7y agoAnd it has been losing tons of money for even longer. Without VCs to bail them out several times a year, how will they justify operating at a huge loss in France without a viable path to profitability?
- vkou 7y agoSomehow, taxi companies in France have figured out how to operate profitably.
- BigBubbleButt 7y ago> 1) Uber is a public company now, it has not been VC funded for a long time They also typically lose around $1 billion per quarter. Unless they figure out how to be profitable, they will eventually run out of money. So really, they are still burning cash on the roughly $20 billion of VC capital they raised, plus the money they raised during IPO. https://www.theverge.com/2019/8/8/20793793/uber-5-billion-quarter-loss-profit-lyft-traffic-2019 https://www.theverge.com/2019/8/8/20793793/uber-5-billion-qu...
- lostgame 7y ago>> They also typically lose around $1 billion per quarter. What?! How on earth do you burn through $1B a quarter on a ride sharing app?
- chrisseaton 7y agoSubsidising rides, a lot of engineers required to run a massive real-time system, and big legal teams to work in so many regions.
- aglavine 7y agoThey are reinvesting a lot.