Uber makes real the saying about making up losses with volume.
agree....but the computers aren’t quite yet good enough to make it happen
I don’t think this is a real “loss.”
Cash on hand, as I understand it, went up by nearly the same amount.
Uh, I thought I heard they put a hiring freeze on engineers at uber. HUH?
Is Uber a viable business going forward? Will they ever turn a profit on their business of giving rides to people? Is the Uber Eats product line going to generate big revenues?
How can they sustain such losses?
And as for investors, if you bought in at the IPO price of $45.00 per share, you are way underwater. Their stock price right now is $34.82.
Meh. We prefer Lyft anyway.
I don't see how those things will improve profitability.
The Wright brothers are the first to fly in a powered airplane. That being said, nobody flies in a Wright built plane today.
And then there’s MySpace.
Being first doesn’t mean you’ll survive.
$4.2 Billion of the 5.2 is a one time thing that was expected. The media is hyping this. I would buy uber on the fake news.
Why don’t they just raise prices 25%? They are in an effective monopoly with Lyft and if they both raised prices, they market would have no choice but to accept it.
Of course, they are somehow relying on the hope they can continue to “steal” riders from other areas - whether public transit, taxis (already maxed out) or people’s own cars.
They can either continue to live this fantasy and eventually go bankrupt, or admit their model is wrong and only is supported by cheap Fed money, and try to survive.
Even if (and autonomous driving is at least 2 decades away, no matter what snake oil you are being told) autonomous driving comes to be... they still have no future.
Autonomous vehicles will instantly commoditize their entire business model.
UBER is where you throw money when you like to watch it burn.. its completely built on the bigger fool theory, and a lot of fools are making a lot of douchebags rich.
$5 BILLION loss?
No problem.
They’ll make it up in volume.
That’s the fundamental problem with their business model. In and of itself the simple concept of ordinary people providing transport is a sound one, as demonstrated by the popularity of Uber. However, they have spent too much on R&D on things like autonomous vehicles etc. That’s where they’ve p*ssed away their money.
This is the company that, when breached by hackers, agreed to pay a $100k ransom, and NOT inform their 600,000 drivers that their driver license information had been stolen, nor their 57,000,000 customers that their names, addresses, and phone numbers were taken.
They were fined by the attorneys general of all 50 states for concealing the breach.
Anyone who invested in the Uber IPO based on financial reporting that Uber reported deserves to lose money.
Garbage company with garbage management.