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I just looked it up, and I'm not sure it can be used as an example of proving perma-bears wrong. As it is, the company is valued at $150 billions, but in the p

I just looked it up, and I'm not sure it can be used as an example of proving perma-bears wrong. As it is, the company is valued at $150 billions, but in the past 5 years only the last one was profitable - with a $2 billion profit. Where do you see the 'rides have been profitable for years' ? It actually looks quite wildly overvalued to me. Perma-bears will be proved wrong once the company start making real money justifying their valuation.

reducesuffering 2y ago
“with trips up 22% and a GAAP operating profit, for the first time in Uber’s history”[0] And I believe that was YoY profit, so profitable the year before that date and profitable the past year since. Investing in Uber Eats expansion was hampering profitability but not the rides. Before rides was profitable they were a $50b company, so if you correctly believed they would improve probability, you would’ve 3x your investment from 2 years ago. Same thing happened for those critical Facebook, Google, or Amazon could ever be profitable. [0] https://investor.uber.com/news-events/news/press-release-details/2023/Uber-Announces-Results-for-Second-Quarter-2023/default.aspx https://investor.uber.com/news-events/news/press-release-det...