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The vast, vast amounts of money they spent on driver incentives city by city would seem to support the OPs claim (source: I was familiar with their spend on ads
by disgruntledphd2 4mo ago
The vast, vast amounts of money they spent on driver incentives city by city would seem to support the OPs claim (source: I was familiar with their spend on ads in the US approximately 10 years ago).
- simianwords 4mo agoThere is no evidence that Uber was systemically losing money per ride instead of at edge cases. Share your evidence please.
- disgruntledphd2 4mo ago> Share your evidence please. This is an impossible ask unless one works at Uber. I can tell you that i saw how much they were spending on ads back in 2016, and how long it continued and can assure you that they were 100% losing money back then. Like, even now their margin is around 10% (they made 5bn on 50bn of revenue). Other software companies make a much, much, much better margin because Uber is basically not a real software business, it's an app attached to a low-margin delivery business.
- s1artibartfast 4mo agoads =/= rides
- disgruntledphd2 4mo agoYeah totally. In some ways Google and Facebook being so wildly profitable was very bad for future tech startups. Nonetheless, that's the bar from a financial perspective, and I honestly don't think Uber has (or will) hit that bar.