You weren't wrong. Prior to going public, Uber relied on VC money to make the unit economics work. The unit economics now work (Uber doesn't lose money on every

You weren't wrong. Prior to going public, Uber relied on VC money to make the unit economics work. The unit economics now work (Uber doesn't lose money on every ride) but Uber is still losing money. It's also not true to say that Uber's loss is due solely to R&D, since R&D only represents $1 billion in expenses, per Uber's 2022 annual report and their Q1 financials. Uber would still be unprofitable even if it did no R&D, since it has very large G&A, marketing costs, and CORS (cost of revenue).