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As a Uber-bull I'm grateful that I no longer have to point out that "Uber subsidizes rides" isn't true and hasn't been for years.
by treis 3y ago
As a Uber-bull I'm grateful that I no longer have to point out that "Uber subsidizes rides" isn't true and hasn't been for years.
- styren 3y agoWhat exactly would "subsidize" mean in this context? If they're charging way less than they need to break even isn't that technically a subsidized ride?
- twelve40 3y ago> "Uber subsidizes rides" isn't true and hasn't been for years given that they have full control and zero transparency over price of every trip, how can you be so certain?
- treis 3y agoThey're a public company and have to report financials. You can look at them and see that net margin on a ride is positive.
- minsc_and_boo 3y agoThat doesn't mean they're not subsidizing individual markets to remain competitive though. It just means the average is marginal. IIRC Uber lost $2B on the Chinese marketing simply because of subsidies.
- V-eHGsd_ 3y ago> IIRC Uber lost $2B on the Chinese marketing simply because of subsidies. uber pulled out of china in 2016 ...
- minsc_and_boo 3y agoBecause it was a loss leader. It's proof that Uber subsidizes individual markets differently.
- V-eHGsd_ 3y agoit's proof they subsidized, past-test, 7 years ago. its really weird to point to what uber did more than 7 years ago as non public company with no public reporting requirements, and try to use that to refute publicly reported numbers from today.
- twelve40 3y agoThey have lost $31.5B since 2014 and turned a profit just now. Where did that money go? That one Beyonce party, or it still might have had something to do with their main thing, the rides?