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> This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. Come on

by lhorie 5y ago

> This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. Come on now. I'm over in SF, but you know what app I can use to summon a taxi? The Uber app. What can I use to get bus routes/schedules? The Uber app. Nearby scooters? The Uber app. This article is clinging to the one trick pony narrative that ridesharing prices are higher for airport trips right now (it ought to be extremely telling that they keep talking about Lyft, which has lower market share and thus higher prices). If you think ridesharing is solely about airport trips, you're kinda missing the point of what "taking over the world" means to Uber.

LargoLasskhyfv 5y ago
Did any of Uber, Lyft, etc. meanwhile earn one cent of money, instead of burning angel investors venture capital? Isn't that the plan, to destroy any competition, afterwards being able to cherry pick anything, anywhere, anytime, at any price, while having the drivers their dependent bitches?
- lhorie 5y ago
  You're parroting Kalanick's era stuff. Both of these companies have been chasing profitability since IPO and posted profits (on adjusted ebitda basis) this week, and are promising better results in Q4. My understanding is that various important markets are actually cash flow positive now. Any idea of "destroying competition" also clearly is oblivious of what actually is happening in the industry. Uber made some acquisitions sure (e.g. Careem, Autocab), but also ceded marketshare in exchange for equity in various markets (Didi, Grab, Zomato) and did partnerships in others (e.g. SKTelecom). It definitely has its hands in a lot of pots, but monopolistic it is not. Its latest courier marketing slogan was literally "we're not the jealous type"... As for Lyft, I don't believe it's ever been in a position to be able to aim for a monopoly of any sort.
  - LargoLasskhyfv 5y ago
    Uhm... http://coveringcompanies.journalism.cuny.edu/2021/10/10/uber-says-profitability-is-now-within-reach/ http://coveringcompanies.journalism.cuny.edu/2021/10/10/uber... chrch chrch chrch Äym Äy Pärrot
    - lhorie 5y ago
      That article supports exactly what I just said. > For the quarter ended Sept. 30, the company said it expects to report between a $25 million loss and a $25 million profit on an adjusted basis Today was its earnings call, where it reported profits of "$8 million worth of adjusted EBITDA"[0]. If you read your article, it says it's projecting 100M in ebitda for Q4. [0] https://techcrunch.com/2021/11/04/uber-squeaks-tiny-adjusted-profit-in-q3-despite-2-4b-net-loss/ https://techcrunch.com/2021/11/04/uber-squeaks-tiny-adjusted...
      - LargoLasskhyfv 5y ago
        That depends on how you read it. I read it as maybe we just barely manage to. Also don't EBITDA me, that can be 'adjusted' in many interesting ways.
        lhorie 5y ago
        Sure, but the original point wasn't about whether bottom line is red, it was about whether it's an investing ponzi scheme or an actual attempt at operating like a proper business. It may not be profitable on an absolute basis (many unicorns aren't), but that's very different from having your entire business plan centered around never ending VC rounds. Generally speaking, once a company goes public, it must start showing results.
        LargoLasskhyfv 5y ago
        Hrm.

by lhorie 5y ago

LargoLasskhyfv 5y ago

Did any of Uber, Lyft, etc. meanwhile earn one cent of money, instead of burning angel investors venture capital? Isn't that the plan, to destroy any competition, afterwards being able to cherry pick anything, anywhere, anytime, at any price, while having the drivers their dependent bitches?

lhorie 5y ago
You're parroting Kalanick's era stuff. Both of these companies have been chasing profitability since IPO and posted profits (on adjusted ebitda basis) this week, and are promising better results in Q4. My understanding is that various important markets are actually cash flow positive now. Any idea of "destroying competition" also clearly is oblivious of what actually is happening in the industry. Uber made some acquisitions sure (e.g. Careem, Autocab), but also ceded marketshare in exchange for equity in various markets (Didi, Grab, Zomato) and did partnerships in others (e.g. SKTelecom). It definitely has its hands in a lot of pots, but monopolistic it is not. Its latest courier marketing slogan was literally "we're not the jealous type"... As for Lyft, I don't believe it's ever been in a position to be able to aim for a monopoly of any sort.
- LargoLasskhyfv 5y ago
  Uhm... http://coveringcompanies.journalism.cuny.edu/2021/10/10/uber-says-profitability-is-now-within-reach/ http://coveringcompanies.journalism.cuny.edu/2021/10/10/uber... chrch chrch chrch Äym Äy Pärrot
  - lhorie 5y ago
    That article supports exactly what I just said. > For the quarter ended Sept. 30, the company said it expects to report between a $25 million loss and a $25 million profit on an adjusted basis Today was its earnings call, where it reported profits of "$8 million worth of adjusted EBITDA"[0]. If you read your article, it says it's projecting 100M in ebitda for Q4. [0] https://techcrunch.com/2021/11/04/uber-squeaks-tiny-adjusted-profit-in-q3-despite-2-4b-net-loss/ https://techcrunch.com/2021/11/04/uber-squeaks-tiny-adjusted...
    - LargoLasskhyfv 5y ago
      That depends on how you read it. I read it as maybe we just barely manage to. Also don't EBITDA me, that can be 'adjusted' in many interesting ways.
      - lhorie 5y ago
        Sure, but the original point wasn't about whether bottom line is red, it was about whether it's an investing ponzi scheme or an actual attempt at operating like a proper business. It may not be profitable on an absolute basis (many unicorns aren't), but that's very different from having your entire business plan centered around never ending VC rounds. Generally speaking, once a company goes public, it must start showing results.
        LargoLasskhyfv 5y ago
        Hrm.