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Lyft has $1.8 billion [0] and Uber has $4.3b [1] at December 31, 2022 cash on hand. Where is the death embrace? [0] - https://investor.lyft.com/news-and-event
by itake 4y ago
Lyft has $1.8 billion [0] and Uber has $4.3b [1] at December 31, 2022 cash on hand.
Where is the death embrace?
[0] - https://investor.lyft.com/news-and-events/news/news-details/2023/Lyft-Announces-Q422-and-Fiscal-2022-Results/default.aspx https://investor.lyft.com/news-and-events/news/news-details/...
[1] - https://investor.uber.com/news-events/news/press-release-details/2023/Uber-Announces-Results-for-Fourth-Quarter-and-Full-Year-2022/default.aspx https://investor.uber.com/news-events/news/press-release-det...
- LegitShady 4y agoI don't think either company has turned a profit in the last 5 years at least. They're just spending VC money to try to kill the competition. That $4.3 and $1.8 billion isn't from profit, its from VC's trying to outspend each other.
- bydlocoder 4y agoI don't get their strategy. While they are an true tech company - the marginal cost of servicing next client is essentially zero, their network effect is limited to a single city so it will be easy for potential competitors to enter the market.
- bydlocoder 4y agoTheir products were feature-complete a long time ago. Why are they still in a growth stage and not making profit which should be easy for essentially brokers?