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These apps aren't profitable as-is for their owners. Raising wages would just lead them to push prices even higher, locking more and more people out Public tra
by IntelMiner 2y ago
These apps aren't profitable as-is for their owners. Raising wages would just lead them to push prices even higher, locking more and more people out
Public transit (arguably) can be run as a public service rather than a private enterprise designed to extract value for investors. It's far better for the community
- s1artibartfast 2y agoUber is profitable, with 2 Billion in earnings in 2023 and 2024. Public services also extract value. There are just different sources and recipients.
- IntelMiner 2y agoUber was profitable, according to a quick Google search (dated in May of 2024) they then lost $654 million after that
- s1artibartfast 2y agoI dont know where google is pulling that information, but their SEC filings and stock financials disagree [1,2]. In Q1 2024 they claimed a $750 million unrealized loss tax write-off, but were still cashflow positive. [3] https://finance.yahoo.com/quote/UBER/financials/ https://finance.yahoo.com/quote/UBER/financials/ https://s23.q4cdn.com/407969754/files/doc_earnings/2024/q2/earnings-result/Uber-Q2-24-Earnings-Press-Release.pdf https://s23.q4cdn.com/407969754/files/doc_earnings/2024/q2/e... https://s23.q4cdn.com/407969754/files/doc_earnings/2024/q1/earnings-result/Uber-Q1-24-Earnings-Press-Release.pdf https://s23.q4cdn.com/407969754/files/doc_earnings/2024/q1/e...