4 ms·
> But they didn't. Because those places weren't just unprofitable but were wildly unprofitable. Uber as a company is "wildly unprofitable" across the board. I
by indymike 4y ago
> But they didn't. Because those places weren't just unprofitable but were wildly unprofitable.
Uber as a company is "wildly unprofitable" across the board. I cracked open Uber's 2021 annual report, and I'm not sure they are profitable anywhere. Their revenue model really appears to support the notion they are simply displacing taxi operators, "23% of mobility bookings came from 5 cities..." and listed only NYC and Chicago in the US.It went on to say that 11% of mobility bookings came from airports (and that revenue stream was under attack from the taxi industry).
> However, it won't be venture capital profitable.
I've never had a VC ask for profits. Only growth where revenue and expenses would show we could trim the sails and break even in a pinch. Since Uber is publicly traded, I suspect they are going to have to do better than an annual report that basically projects profitability like I do winning the lottery.