Uber’s Path of Destruction

[jmdrake]

The article was written by a leftist and I left most of the leftist garbage out but the fundamental points still stand, Uber is burning money and only survives by scamming investors and getting loans in a credit market distorted by the Fed.
It can't go on forever and unless Amazon has become profitable it will explode eventually too.

Ah. Your main point for posting this was from an investor perspective. Got it. Yeah, I wouldn't buy any Uber or Lyft stock at this point. I wouldn't buy Amazon stock either, but last time I checked they have reached profitability. They dink around with the profit numbers to avoid paying taxes (i.e. spending money on Amazon prime) but they're making a boatload of money. And they are helping smaller operations make money through Amazon stores.

 

[timosman]

Ah. Your main point for posting this was from an investor perspective.

Thread winner.

 

[pcosmar]

Are you familiar with the concept of a living wage?

Is that like a "living document"? or a Corporation as a Living being(person)?

 

[pcosmar]

^This. "Oh we have to save the poor Uber drivers from themselves." Seriously? Did I take a left turn at ThinkProgress.org?

Nope,,
The Neo-wrong crowd are just as Leftist as the Bernie Burnouts.

But so are their National Socialist Heroes.

 

[Zippyjuan]

Another company which lost money for several years (not saying they are similar):

 

[Zippyjuan]

How are they scamming investors? Did you read their prospectus?

https://www.reuters.com/article/us-...ning-it-may-never-make-a-profit-idUSKCN1RN2SK

Uber unveils IPO with warning it may never make a profit

NEW YORK (Reuters) - Uber Technologies Inc has 91 million users, but growth is slowing and it may never make a profit, the ride-hailing company said on Thursday in its IPO filing.

The document gave the first comprehensive financial picture of the decade-old company which was started after its founders struggled to get a cab on a snowy night and has changed the way much of the world travels.

The S-1 filing underscores Uber’s rapid growth in the last three years but also how a string of public scandals and increased competition from rivals have weighed on its plans to attract and retain riders.

The disclosure also highlighted how far Uber remains from turning a profit, with the company cautioning it expects operating expenses to “increase significantly in the foreseeable future” and it “may not achieve profitability.”

Uber lost $3.03 billion in 2018 from operations.

The filing with the U.S. Securities and Exchange Commission revealed Uber had 91 million average monthly active users on its platforms, including for ride-hailing and Uber Eats, at the end of 2018. This is up 33.8 percent from 2017, but growth slowed from 51 percent a year earlier.

Uber had not disclosed the latest user numbers before, and the figure indicates the scale of the business. Although its user base includes customers of other services and ride-sharing, the number is nearly five times the 18.6 million announced by rival Lyft Inc.

Uber in 2018 had $11.3 billion reven