Yah it doesn’t look good, I dont know why they released the numbers. Growth is slowing (and a good chunk of the growth was from new money losing ventures like Uber Eats). At current trajectory they won’t even break even for another 5-6 years. How do you justify the valuation?
Justify on revenue growth rate. Narrower loss on 65% rev growth rate is very significant. That means Uber is not “subsidizing” users’ rides to the same degree as last year. The unit economics improves quite a bit.
I took my first Uber ride two weeks ago. It’s their new product where I had to walk a couple blocks to meet the driver and share the car with other pool customers. It’s a short ride, only a mile or two, and only cost me $5. The wait is very short. In 10 minutes I was already in the car, including the time it took me to walk 3 blocks.
Uber is really revolutionary. If you live in big cities like SF with no kids, having a car is really optional now. Uber makes transportation very liquid and on demand.
SHOP is growing just as fast and not blowing through cash like a drunken sailor. There are companies hitting profitability and growing 30%+.
Those companies aren’t in network-effect winner-take-all kind of markets. Most markets have only one ride sharing operator. If Uber didn’t screw up so badly it should have killed off Lyft.
No problem fund raising despite losing billions, those ebikes and scooters must be killing it.
Uber to Invest Over $150 Million in Toronto Driverless Car Hub
I want to start a club. Wow.
The one good thing about calling an ambulance is that you get priority service from the hospital. They take the ambulance patients straight to rooms an bypass the triage nurse.
Moved to other Tesla thread.
Just realized you posted this…was going to post a similar article, lol.