Uber kept fares artificially low while simultaneously paying high bonuses to drivers to build a massive network. After burning through roughly $30+ billion over

Uber kept fares artificially low while simultaneously paying high bonuses to drivers to build a massive network. After burning through roughly $30+ billion over its first decade, Uber then pivoted its business model by raising rider fares, increasing restaurant fees on Uber Eats, and cutting driver pay. Basically, win market through subsidy -> establish monopoly -> increase price -> profit.