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Coronavirus clobbers Uber, leading to $1.8B quarterly loss
- waihtis 6y agoThat is a staggering amount of money. Considering Uber’s business model should be light on classic fixed costs, what are the major cost driver(s) in play?
- sjtindell 6y agoIt’s really “only” about $500-800 million more than an average quarter for them. Very surprised to hear the ride business is actually barely profitable and they are just pouring money into deliveries and self driving. Both of those seem like absolute money pits, but I’d say the same about ride sharing. It is an interesting point that when people go out less (less Uber) they order more takeout (more UberEats). Nifty mechanic there.