3 ms·
If you are curious how they went from $496M in 2021 to already $8.5B in 2022 despite promising to accelerate their profitability even more, $7.3B of those appea
by stefan_ 4y ago
If you are curious how they went from $496M in 2021 to already $8.5B in 2022 despite promising to accelerate their profitability even more, $7.3B of those appear to be from "revaluation of Uber’s Aurora, Grab, and Zomato stakes". That's still more losses, though.
- makestuff 4y agoSimilar thing happened with Amazon and their investment in Rivian. Q4 last year was like a 10b gain and then by q1 of 2022 it was a loss.
- jlmorton 4y agoThey did indeed write down their investment in Rivian, but they still made a healthy 3x gain, just not 30x.
- aardvarkr 4y agoThis is especially useful context, thanks for sharing it!
- viscanti 4y agoTheir promise to accelerate profitability was likely for their own operations and not their investments (where presumably they have much less control). $8.5B is a pretty big loss, but it might be unrelated to their actual business. That said, investors would be buying the operational business (still at a loss but EBIDTA profitable and seemingly making progress to overall profitability every quarter) and the Investment business (seems to continually lose money).