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Keep in mind Uber operates in almost a thousand cities worldwide. Of course certain places will earn Uber more than others, but it’s not a huge hit to their rev
by bthrn 6y ago
Keep in mind Uber operates in almost a thousand cities worldwide. Of course certain places will earn Uber more than others, but it’s not a huge hit to their revenue.
The real threat, as I see it, is other states enacting similar laws that will have a domino effect.
- Invictus0 6y agoUber does operate in many cities, but its revenue is disproportionately concentrated in California: > “In 2018, we derived 24% of our Ridesharing Gross Bookings from five metropolitan areas — Los Angeles, New York City, and the San Francisco Bay Area in the United States; London in the United Kingdom; and São Paulo in Brazil,” Uber writes in the S-1. “An economic downturn, increased competition, or regulatory obstacles in any of these key metropolitan areas would adversely affect our business, financial condition, and operating results to a much greater degree than would the occurrence of such events in other areas.” [0] https://nymag.com/intelligencer/2019/04/uber-s-1-new-york-city-could-destroy-uber.html https://nymag.com/intelligencer/2019/04/uber-s-1-new-york-ci...
- throwaway1777 6y agoIt is a huge hit to their revenue. It is not total catastrophe or anything, but as other people pointed out it is significant enough for this to be not as flippant as turning off some other smaller state or country.