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Indeed, its the old Uber playbook at nearly two extra orders of magnitude. It is a large enough number to simply run out of private capital to consume before i
by steveBK123 10mo ago
Indeed, its the old Uber playbook at nearly two extra orders of magnitude.
It is a large enough number to simply run out of private capital to consume before it turns cash flow positive.
Lots of things sell well if sold at such a loss. I’d take a new Ferrari for $2500 if it was on offer.
- derwiki 10mo agoUber’s playbook worked for Uber
- aoeusnth1 10mo agoYou say that as if Uber's playbook didn't work. Try this: https://www.google.com/finance/quote/UBER:NYSE https://www.google.com/finance/quote/UBER:NYSE
- pjc50 10mo agoDid Uber actually do a lot of capital investment? They don't own the cars, for example.
- simonw 10mo agoI believe they spent a huge amount of money on incentives to help sign up drivers, and discounts to help attract customers.
- pjc50 10mo agoYes, but that's loss leader rather than capital investment. You can't put a customer on the balance sheet and depreciate them. Once you've paid for a free ride, you own nothing tangible.
- shimman 10mo agoUber nakedly broke the law and beat down labor, I'm honestly shocked none of the executives went to prison.
- derektank 10mo agoUber didn’t beat down labor, they beat down capital, specifically the capital that owned (and lobbied for the existence of) taxi medallions
- shimman 10mo agoNo, you clearly have never talked to the workers at Uber (no not the devs, the drivers). Uber has disgustingly fought against unionization efforts, employee benefit efforts, and increasing wages. Such actions do not make you a good company, especially when the executives make millions while fighting against workers wanting a better life. They are an evil company and the rot has been there since inception. This isn't even getting into their disgusting internal predator culture against women either.