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It's actually profitable https://www.sec.gov/Archives/edgar/data/1543151/000154315123000013/uberq123earningspressrelea.htm https://www.sec.gov/Archives/edgar/da
by helsinkiandrew 3y ago
It's actually profitable https://www.sec.gov/Archives/edgar/data/1543151/000154315123000013/uberq123earningspressrelea.htm https://www.sec.gov/Archives/edgar/data/1543151/000154315123...
But I think the consensus is that (unlike Amazon) there is no more scale for them to reach which would make their business model profitable enough to justify the valuation - their only route to large profits is to destroy the rest of the competition and raise prices.
"On Monday morning, an Uber from Manhattan to JFK Airport was $100—nearly double the fixed yellow cab rate. But good luck finding a yellow cab"
https://slate.com/business/2022/05/uber-subsidy-lyft-cheap-rides.html https://slate.com/business/2022/05/uber-subsidy-lyft-cheap-r...
- epolanski 3y agoAren't Amazon revenues almost flat with only AWS still posting double digit growth?
- zzbn00 3y agoThe linked document writes: "Net loss attributable to Uber Technologies, Inc. was $157 million" The could have been profitable maybe if they didn't spend ~$400million on stock based comp!
- samrus 3y agoBut that won't work will it. Here in Karachi, when careem (the rideshare company uber bought) raises prices, you just have two other ride share companies (bykea, and indrive) undercut it. You can make cabs dissapear, but copycats are a paradox because you are "validating" their business model with your "success", so they will cannibalize you