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It may not be the strategy, but it is definitely the only reasonable path to profitability where the drivers will make at least a reasonable income and the cost
by yumraj 6y ago
It may not be the strategy, but it is definitely the only reasonable path to profitability where the drivers will make at least a reasonable income and the cost of a ride is competitive with a cab.
Either ways, next year is pretty close. Perhaps I'd be proven wrong.
- jeltz 6y agoOnly because they have burned so much VC. Both Uber and Bolt charge like normal taxi companies in Stockholm and can therefore afford to pay their drivers at the same time as making a profit. And as far as I know Bolt is basically already profitable, they just copied Uber's business but reduced the administration costs and did not blow a ton of cash on self driving cars. Having their HQ in Tallinn rather than SF also helps. There is definitely a market for a modern taxi company, but it won't be as cheap as Uber is in the US. And Uber has too large overhead.
- deeeeplearning 6y agoHard to pay your execs and engineers insanely bloated Tech salaries on Taxi profit margins. It's a bubble ready to pop.The guy saying they will profitable in the next year is delusional.
- azylman 6y ago"The guy" - the CEOs of both companies? You're essentially stating that the CEOs of Uber any Lyft are lying to their investors, which is a crime. That's a serious accusation and some actual evidence is needed.
- rabuse 6y agoThis is hilarious, honestly. Who was arrested at Helios Matheson with the joke that was MoviePass?
- nmfisher 6y agoNo, he's stating the CEO is delusional. It's not a crime if you honestly believe what you're saying. (Oversimplification, of course. I'm fully aware of corporate obligations around market disclosure, profit forecasts, etc).