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I agree in part, but the statement "Companies in Uber's cohort have just never been sustainable at all." is just not true. It's some sort of myth that Uber only
by jrpt 3y ago
I agree in part, but the statement "Companies in Uber's cohort have just never been sustainable at all." is just not true. It's some sort of myth that Uber only ever worked by subsidizing rides with VC funding. But that's just not true from the analysis I've seen, before covid, Uber was profitable in their main markets like SF and NYC. Covid changed things but around they same time, they went public and stopped getting VC funding.
Here's their financial report plus an AI to chat with https://docalysis.com/files/5472910746 https://docalysis.com/files/5472910746
- white_dragon88 3y ago[dead]
- zzbn00 3y agoThat document shows Uber lost $9billion in 2022, right?
- disgruntledphd2 3y agoYup. Their free cash flow is positive, but that's because it ignores share based compensation (which is pretty crazy for a tech company).
- zzbn00 3y agoYes the share based comp in 2022 was $1.7b which is a lot, but the losses on marketable securities were the biggest factor in 2022 ($7b). Some of that may have been on own debt though.
- gmadsen 3y agoWhat is the plan exactly? keep going at a loss until self driving cars? If they raise prices, do riders use lyft instead?