# UBER is finished



## Aneed Momoney (Apr 3, 2017)

*Nine Months Ended September 30,*  *2018* *2019**Cash flows from operating activities*    Net income (loss) including non-controlling interests $1,876  $(7,421)Adjustments to reconcile net income (loss) to net cash used in operating activities:    Depreciation and amortization 317  371 Bad debt expense 35  79 Stock-based compensation 145  4,353 Gain on extinguishment of convertible notes and settlement of derivatives -  (444)Gain on business divestitures (3,208) - Deferred income tax 420  (55)Revaluation of derivative liabilities 491  (58)Accretion of discount on long-term debt 231  80 Payment-in-kind interest 53  10 Loss on disposal of property and equipment 63  14 Impairment on long-lived assets held for sale 122  - Loss from equity method investment 32  25 Gain on debt and equity securities, net (1,984) (1)Non-cash deferred revenue -  (39)Gain on forfeiture of unvested warrants and related share repurchases (152) - Unrealized foreign currency transactions 54  (16)Other 7  18 Change in operating assets and liabilities, net of impact of business acquisitions and disposals:    Accounts receivable (359) (342)Prepaid expenses and other assets (421) (467)Operating lease right-of-use assets -  135 Accounts payable (66) (23)Accrued insurance reserve 763  356 Accrued expenses and other liabilities 721  997 Operating lease liabilities -  (94)Net cash used in operating activities (860) (2,522)*Cash flows from investing activities*    Proceeds from insurance reimbursement, sale and disposal of property and equipment 329  41 Purchase of property and equipment (362) (406)Purchase of equity method investments (412) - Investments in debt securities (30) - Proceeds from business disposal, net of cash divested -  293 Acquisition of businesses, net of cash acquired (64) (7)Net cash used in investing activities (539) (79)*Cash flows from financing activities*    Proceeds from issuance of common stock upon initial public offering, net of offering costs -  7,973 Taxes paid related to net share settlement of equity awards -  (1,514)Proceeds from issuance of common stock related to private placement -  500 Proceeds from issuance of subsidiary preferred stock units -  1,000 Proceeds from exercise of stock options, net of repurchases 26  5 Repurchase of outstanding shares (10) - Issuance of term loan and senior notes, net of issuance costs 1,478  1,189 Principal repayment on term loan (12) (20)Principal repayment on revolving lines of credit (491) - Principal payments on capital and finance leases (59) (120)Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs 1,250  - Dissolution of joint venture and subsequent proceeds 38  - Other (57) 9 Net cash provided by financing activities 2,163  9,022 Effect of exchange rate changes on cash and cash equivalents, and restricted cash and cash equivalents (133) (23)Net increase in cash and cash equivalents, and restricted cash and cash equivalents 631  6,398 *Cash and cash equivalents, and restricted cash and cash equivalents*    Beginning of period 5,828  8,209 Reclassification from assets held for sale during the period 54  34 End of period, excluding cash classified within assets held for sale $6,513  $14,641      *Reconciliation of cash and cash equivalents, and restricted cash and cash equivalents to the condensed consolidated balance sheets*    Cash and cash equivalents $4,756  $12,650 Restricted cash and cash equivalents-current 214  33 Restricted cash and cash equivalents-non-current 1,543  1,958 *Total cash and cash equivalents, and restricted cash and cash equivalents* $6,513  $14,641      *Supplemental disclosures of cash flow information*    Cash paid for:    Interest, net of amount capitalized $83  $213 Income taxes, net of refunds 213  105 Non-cash investing and financing activities:    Conversion of redeemable convertible preferred stock to common stock upon initial public offering -  14,224 Conversion of convertible notes to common stock upon initial public offering -  4,229 Changes in purchases of property, equipment and software recorded in accounts payable and accrued liabilities (9) 13 Financed construction projects 135  - Capital and finance lease obligations 132  196 Settlement of litigation through issuance of redeemable convertible preferred stock 250  - Common stock issued in connection with acquisitions 93  - Ownership interest in MLU B.V. received in connection with the disposition of Uber Russia/CIS operations 1,410  - Grab debt security received in exchange for the sale of Southeast Asia operations 2,275  - 
*Other Income (Expense), Net*
The following table presents other income (expense), net (in millions):

  *Three Months Ended September 30,* *Nine Months Ended September 30,*  *2018* *2019* *2018* *2019*  *(Unaudited)*Interest income $27  $76  $69  $184 Foreign currency exchange gains (losses), net (18) 8  (42) - Gain on business divestitures (1) 7  -  3,208  - Gain (loss) on debt and equity securities, net (2) -  (13) 1,984  1 Change in fair value of embedded derivatives (89) -  (491) 58 Gain on extinguishment of convertible notes and settlement of derivatives -  -  -  444 Other 19  (22) 218  20 Other income (expense), net $(54) $49  $4,946  $707


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## SurgeMasterMN (Sep 10, 2016)

https://news.yahoo.com/ubers-revenue-grows-losses-mount-210655498.html


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## Cold Fusion (Aug 28, 2019)

*Uber reported Q3 2019 earnings that beat analyst estimates on the top and bottom lines.*
*?Uber needs to reduce driver earning by Taking a higher percent of Fares and charge Drivers a monthly App Access fee*✔

The company also reported a quarterly loss topping $1 billion.
CEO Dara Khosrowshahi said in an interview with CNBC's Deirdre Bosa that the company is targeted adjusted EBITDA profitability in 2021.

https://www.cnbc.com/2019/11/04/uber-uber-q3-2019-earnings.htmlhttps://www.cnbc.com/2019/11/04/uber-uber-q3-2019-earnings.html


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## Aneed Momoney (Apr 3, 2017)

SurgeMasterMN said:


> https://news.yahoo.com/ubers-revenue-grows-losses-mount-210655498.html


Increased revenue but bigger losses( like I showed) means it's insolvent.


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## Taxi Driver in Arizona (Mar 18, 2015)

28.91 -2.17 (-6.98%)

The market doesn't like today's news.


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## L DaVinci (Oct 26, 2019)

SurgeMasterMN said:


> https://news.yahoo.com/ubers-revenue-grows-losses-mount-210655498.html


I noticed no mention of the skimming by Uber management.


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## SurgeMasterMN (Sep 10, 2016)




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## L DaVinci (Oct 26, 2019)

SurgeMasterMN said:


>


Correction, Uber lost drivers 1.1 billion dollars.


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## njn (Jan 23, 2016)

it's only down 5% after hours, it should be worse based on the earnings report.

might be a buy on november 7.


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## Aneed Momoney (Apr 3, 2017)

njn said:


> it's only down 5% after hours, it should be worse based on the earnings report.
> 
> might be a buy on november 7.


Wait until tomorrow morning


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## Son of the Darkness (May 8, 2015)

Aneed Momoney said:


> Increased revenue but bigger losses( like I showed) means it's insolvent.


 Where are the biggest losses, frivolous legal fees and lawyers I would imagine?


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## SurgeMasterMN (Sep 10, 2016)

DK for the spin


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## nouberipo (Jul 24, 2018)

njn said:


> it's only down 5% after hours, it should be worse based on the earnings report.
> 
> might be a buy on november 7.


Wednesday is the big day.......lock up is over and while many insiders will be able to cash in, as they are the ones who built and maintained this corrupt company I am unsure of their decision-making skills hence they may not all sell like they should as their arrogance and being part of such a corrupt organization means they have some screws loose. May they all lose as much money as possible as it will be karma from the drivers.


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## Drivincrazy (Feb 14, 2016)

And then we have January 1 in California...AB 5...perhaps equally important to November 6. I've never seen such an interesting stock to watch or one that has 99% of its "partners" rooting for its demise.


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## SurgeMasterMN (Sep 10, 2016)

Drivincrazy said:


> And then we have January 1 in California...AB 5...perhaps equally important to November 6. I've never seen such an interesting stock to watch or one that has 99% of its "partners" rooting for its demise.


Left, Right UpperCUT ?


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## itsablackmarket (May 12, 2015)

Taxi Driver in Arizona said:


> 28.91 -2.17 (-6.98%)
> 
> The market doesn't like today's news.


But I'm loving it, personally.


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## kingcorey321 (May 20, 2018)

only thing i want to add is i hope they close uber at the end of this year


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## jocker12 (May 11, 2017)

SurgeMasterMN said:


>


Yup, buying Uber and Lyft stock is disturbing.

https://www.marketwatch.com/article...ft-retirement-51572631664?link=MW_latest_news


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## lyft_rat (Jul 1, 2019)

Uber is not going away. And why would you want it to? It is exceptably good for those who drive smart. It is a cash cow for those who cherry pick in the right market. 5-10 rides a week is all I want. $200.


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## Hpil77 (Feb 7, 2019)

njn said:


> it's only down 5% after hours, it should be worse based on the earnings report.
> 
> might be a buy on november 7.


Wait to January California this is big thing coming don't worry about uber now the loosing money anyway 2021 maybe profit big joke Dara you don't know what you talking keep you drivers /bonuses etc we don't have nothing


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## Hopindrew (Jan 30, 2019)

Can’t wait for Uber to go bye bye. Travis won’t even care he’s made himself a billionaire of a company losing billions by taking stupid investors money.


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## uberdriverfornow (Jan 10, 2016)

Taxi Driver in Arizona said:


> 28.91 -2.17 (-6.98%)
> 
> The market doesn't like today's news.


the market knows that the 7th is only two days away


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## TemptingFate (May 2, 2019)

"The company's take rate, calculated as the adjusted net revenue as a percentage of gross bookings, topped analyst estimates of 20.2%, coming in at 21.5%."
They call it the take rate because they're taking it from us.


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## lyft_rat (Jul 1, 2019)

TemptingFate said:


> "The company's take rate, calculated as the adjusted net revenue as a percentage of gross bookings, topped analyst estimates of 20.2%, coming in at 21.5%."
> They call it the take rate because they're taking it from us.


What I see in my numbers, driver gets about 80% on the average. Plus tips. I am not going to ***** about 1% here.


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## uberdriverfornow (Jan 10, 2016)

SurgeMasterMN said:


> DK for the spin


he literally gives no reason why people should believe his claim of even eibta profitability in 2021, let alone actual profitability ?



Hopindrew said:


> Can't wait for Uber to go bye bye. Travis won't even care he's made himself a billionaire of a company losing billions by taking stupid investors money.


he will be the first to cash out on the 7th ?

the problem with uber and lyft are the hundreds of millions spent each quarter on SDC's alone


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## tohunt4me (Nov 23, 2015)

Cold Fusion said:


> *Uber reported Q3 2019 earnings that beat analyst estimates on the top and bottom lines.*
> *?Uber needs to reduce driver earning by Taking a higher percent of Fares and charge Drivers a monthly App Access fee*✔
> 
> The company also reported a quarterly loss topping $1 billion.
> ...


Raise PASSENGER FARES.

PAY DRIVERS.



uberdriverfornow said:


> he literally gives no reason why people should believe his claim of even eibta profitability in 2021, let alone actual profitability ?
> 
> 
> he will be the first to cash out on the 7th ?
> ...


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## Aneed Momoney (Apr 3, 2017)

lyft_rat said:


> What I see in my numbers, driver gets about 80% on the average. Plus tips. I am not going to @@@@@ about 1% here.


lmfao we got a LYFT board member ghost account here


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## L DaVinci (Oct 26, 2019)

nouberipo said:


> Wednesday is the big day.......lock up is over and while many insiders will be able to cash in, as they are the ones who built and maintained this corrupt company I am unsure of their decision-making skills hence they may not all sell like they should as their arrogance and being part of such a corrupt organization means they have some screws loose. May they all lose as much money as possible as it will be karma from the drivers.





njn said:


> it's only down 5% after hours, it should be worse based on the earnings report.
> 
> might be a buy on november 7.


Might be bankrupt by Nov 8th


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## goneubering (Aug 17, 2017)

njn said:


> might be a buy on november 7.


Not sure if serious??!!



L DaVinci said:


> Might be bankrupt by Nov 8th


Not even close.


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## ABC123DEF (Jun 9, 2015)

tohunt4me said:


> Raise PASSENGER FARES.
> 
> PAY DRIVERS.


It might be a bit too little too late, sir. And that huge toilet flush you were talking about?


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## SurgeMasterMN (Sep 10, 2016)

L DaVinci said:


> Might be bankrupt by Nov 8th


Who will be left holding bag?


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## L DaVinci (Oct 26, 2019)

SurgeMasterMN said:


> Who will be left holding the bag?
> 
> View attachment 374131


Those are mittens, not bags, get your eyes checked ?


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## Hopindrew (Jan 30, 2019)

uberdriverfornow said:


> the market knows that the 7th is only two days away


Uber down big in after hours trading today

Uber cannot and will not be profitable the way it is being run. The only way Uber can become profitable is to raise rates to a point they can make a profit but at the same time that would cut the massive amounts of people who order an Uber so there would be a mammoth loss of riders. But then regulations are already in sight already in nyc and California. I can tell you know to earn a profit and pay a driver a fair wage with expenses paid for drivers UBER will cost more than a taxi. I can't wait til Uber is gone. I do look forward to it.


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## ABC123DEF (Jun 9, 2015)

SurgeMasterMN said:


> Who will be left holding bag?
> 
> View attachment 374139
> View attachment 374140


Uh...what exactly is in those bags? Is it hot...steaming...putrid...  ???!!! -o:


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## lyft_rat (Jul 1, 2019)

uberdriverfornow said:


> he will be the first to cash out on the 7th ?


No way. He already cashed out big in the IPO process and certainly has an unbelievable golden parachute on top of his astronomical salary. Uber stock is chump change to him.


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## GreatOrchid (Apr 9, 2019)

its nice to see them do same shyt to investers they did to drivers 

uber knows how to shoot the shyt real good and take take take


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## lyft_rat (Jul 1, 2019)

GreatOrchid said:


> its nice to see them do same shyt to investers they did to drivers
> 
> uber knows how to shoot the shyt real good and take take take


Sadly, that is what all corporate America is like. Dog eat dog. I would not say Uber cheats drivers. They are self-emplying the unemployable, under terms that are a bad deal for the average full-time driver. There are lots of bad deals offered in life that you should not take.


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## Drivincrazy (Feb 14, 2016)

It's that Travis changed the advertised and promoted deal...75/25% split of the fare. That not only ruined it for drivers but Uber as well. Let's see what happens on El Sinko...November 6.

You did it to yourselves, Uber.
170,000,000 X 10...equals 1.7 billion shares...man, that's a lot of shares to pay dividends to. Hell, 
17,000,000 sounds like a lot to me.

I don't know if Uber would be a good stock to own if you got 100 for 1...you could still lose all your investment.

As usual 99% of drivers + Lyft rooting for Uber vaporizing.


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## Thetomatoisajoke (Feb 21, 2019)

? their biggest expense is “paying the drivers “
The entitlement . No drivers = no money .


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## mch (Nov 22, 2018)

The app better still work this weekend. I need money to buy crack.


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## itsablackmarket (May 12, 2015)

Travis Kalanick will probably be the biggest seller.


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## goneubering (Aug 17, 2017)

itsablackmarket said:


> Travis Kalanick will probably be the biggest seller.


I doubt it. He's a billionaire that doesn't want to hurt his baby.


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## backstreets-trans (Aug 16, 2015)

TemptingFate said:


> "The company's take rate, calculated as the adjusted net revenue as a percentage of gross bookings, topped analyst estimates of 20.2%, coming in at 21.5%."
> They call it the take rate because they're taking it from us.


This is the most alarming fact that drivers should focus on. The key to Uber becoming profitable is to increase their take rate which they improved drastically last quarter. They did this by taking more from the drivers and offering less incentives. Look for another pay cut disguised as a driver improvement.

Lyft has already done this by reducing our rates in PHX to 35 cpm but claiming to support us by paying the time and distance to pick up. What a crock of shut that is. These companies are going to continue to abuse drivers until they can reach profitability or go bankrupt.


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## Cynergie (Apr 10, 2017)

Aneed Momoney said:


> *Nine Months Ended September 30,**2018**2019**Cash flows from operating activities*Net income (loss) including non-controlling interests$1,876$(7,421)Adjustments to reconcile net income (loss) to net cash used in operating activities:Depreciation and amortization317371Bad debt expense3579Stock-based compensation1454,353Gain on extinguishment of convertible notes and settlement of derivatives-(444)Gain on business divestitures(3,208)-Deferred income tax420(55)Revaluation of derivative liabilities491(58)Accretion of discount on long-term debt23180Payment-in-kind interest5310Loss on disposal of property and equipment6314Impairment on long-lived assets held for sale122-Loss from equity method investment3225Gain on debt and equity securities, net(1,984)(1)Non-cash deferred revenue-(39)Gain on forfeiture of unvested warrants and related share repurchases(152)-Unrealized foreign currency transactions54(16)Other718Change in operating assets and liabilities, net of impact of business acquisitions and disposals:Accounts receivable(359)(342)Prepaid expenses and other assets(421)(467)Operating lease right-of-use assets-135Accounts payable(66)(23)Accrued insurance reserve763356Accrued expenses and other liabilities721997Operating lease liabilities-(94)Net cash used in operating activities(860)(2,522)*Cash flows from investing activities*Proceeds from insurance reimbursement, sale and disposal of property and equipment32941Purchase of property and equipment(362)(406)Purchase of equity method investments(412)-Investments in debt securities(30)-Proceeds from business disposal, net of cash divested-293Acquisition of businesses, net of cash acquired(64)(7)Net cash used in investing activities(539)(79)*Cash flows from financing activities*Proceeds from issuance of common stock upon initial public offering, net of offering costs-7,973Taxes paid related to net share settlement of equity awards-(1,514)Proceeds from issuance of common stock related to private placement-500Proceeds from issuance of subsidiary preferred stock units-1,000Proceeds from exercise of stock options, net of repurchases265Repurchase of outstanding shares(10)-Issuance of term loan and senior notes, net of issuance costs1,4781,189Principal repayment on term loan(12)(20)Principal repayment on revolving lines of credit(491)-Principal payments on capital and finance leases(59)(120)Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs1,250-Dissolution of joint venture and subsequent proceeds38-Other(57)9Net cash provided by financing activities2,1639,022Effect of exchange rate changes on cash and cash equivalents, and restricted cash and cash equivalents(133)(23)Net increase in cash and cash equivalents, and restricted cash and cash equivalents6316,398*Cash and cash equivalents, and restricted cash and cash equivalents*Beginning of period5,8288,209Reclassification from assets held for sale during the period5434End of period, excluding cash classified within assets held for sale$6,513$14,641*Reconciliation of cash and cash equivalents, and restricted cash and cash equivalents to the condensed consolidated balance sheets*Cash and cash equivalents$4,756$12,650Restricted cash and cash equivalents-current21433Restricted cash and cash equivalents-non-current1,5431,958*Total cash and cash equivalents, and restricted cash and cash equivalents*$6,513$14,641*Supplemental disclosures of cash flow information*Cash paid for:Interest, net of amount capitalized$83$213Income taxes, net of refunds213105Non-cash investing and financing activities:Conversion of redeemable convertible preferred stock to common stock upon initial public offering-14,224Conversion of convertible notes to common stock upon initial public offering-4,229Changes in purchases of property, equipment and software recorded in accounts payable and accrued liabilities(9)13Financed construction projects135-Capital and finance lease obligations132196Settlement of litigation through issuance of redeemable convertible preferred stock250-Common stock issued in connection with acquisitions93-Ownership interest in MLU B.V. received in connection with the disposition of Uber Russia/CIS operations1,410-Grab debt security received in exchange for the sale of Southeast Asia operations2,275-
> *Other Income (Expense), Net*
> The following table presents other income (expense), net (in millions):
> 
> *Three Months Ended September 30,**Nine Months Ended September 30,**2018**2019**2018**2019**(Unaudited)*Interest income$27$76$69$184Foreign currency exchange gains (losses), net(18)8(42)-Gain on business divestitures (1)7-3,208-Gain (loss) on debt and equity securities, net (2)-(13)1,9841Change in fair value of embedded derivatives(89)-(491)58Gain on extinguishment of convertible notes and settlement of derivatives---444Other19(22)21820Other income (expense), net$(54)$49$4,946$707


I wouldn't write them off just yet. Especially since their share holders have yet to bail/get compensated before any fire sale. Also I suspect Lyft will enter the black hole of insolvency long before Uber does. They can't sustain consecutive stock hits and operational business losses being the smaller of these two ride share charlatans.

OTOH: Uber's implosion is going to leave a vaccum in the rideshare industry with the magnitude Lehman Brothers left on the finance world and Wall St. It's demise will mean a game changer that will either kill off or reboot the industry. In the case of the latter, many smaller and competitive rideshare companies may crop up in its wake. Which is good for both consumer/pax and drivers. Both parties would finally have access to competitive wages since the monopoly in the industry has finally been broken.



backstreets-trans said:


> This is the most alarming fact that drivers should focus on. The key to Uber becoming profitable is to increase their take rate which they improved drastically last quarter. They did this by taking more from the drivers and offering less incentives. Look for another pay cut disguised as a driver improvement.
> 
> Lyft has already done this by reducing our rates in PHX to 35 cpm but claiming to support us by paying the time and distance to pick up. What a crock of shut that is. These companies are going to continue to abuse drivers until they can reach profitability or go bankrupt.


At THIRTY FIVE CPM you're better off in a new career as a truck driver. At least the trucking company will pay for all your OJIT, O&M, you get benefits, constant work, a regulated 10 hr work day, AND you would have a secure/safe place to sleep.....

Because *SERIOUSLY*.....










And you could make six figures if you were your own personal operator who owned your own rig.

http://www.truckdriverssalary.com/best-trucking-companies-to-work-for/
The irony is if it hadn't been for the billions it kept raising in each funding round, Uber WOULD have gone bankrupt within 8-10 years or so of its initial startup days. Other than it's dysfunctional app (which Lyft and several other rideshare competitors have managed to clone) at its core, Uber lacks novel proprietary/revolutionary intellectual property which could potentially sustain it in the future. It lacks the creative vision Apple had (when Jobs was alive) that produced revolutionary, cutting edge tech. Which translated into a healthy upward trend in the stock price.

As a self proclaimed "IT company" Uber lacks the omnipotence and omniscience that Amazon and Google possess to date. Another two corporate IT leviathans whose stock prices remain stable on the high end (despite any bad PR). Basically other than being a cheap convenience, Uber doesn't provide any novel or unique product/service which their consumer pax could use to differentiate them from the competition. The more they try to globally expand and increase their customer base, the more operational burdens (in terms of driver expenses) they have to be accountable for. And the increasingly slimmer the profit margins. Their global operational footprint is so ponderous to date, that I doubt they could break even if they cut all driver pay to $0. LMAO


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## BogusServiceAnimal (Oct 28, 2019)

Every driver should get ready for the surge to disappear from their end. Uber will soon follow the path of Lyft. Good riddance to both platforms.


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## Cynergie (Apr 10, 2017)

^^
but the surge was never genuine to begin with....


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## Drivincrazy (Feb 14, 2016)

Many drivers refuse to drive without surge...Uber might have a problem cutting surges...pax will go to Lyft cuz of shortage of willing drivers at base rate. I see it already when Uber Pro drivers get cleared out on longer trips from the LV Strip area...I just wait and surge comes. Be patient, drivers. If we ALL do, we all get bigger surges.


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## itsablackmarket (May 12, 2015)

goneubering said:


> I doubt it. He's a billionaire that doesn't want to hurt his baby.


It's not his anymore


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## goneubering (Aug 17, 2017)

itsablackmarket said:


> It's not his anymore


Sure it is. He's the mad genius who built Uber for years. No matter what else he achieves in life he will always be known as the Uber guy. I'm sure he would love to triumphantly return to Uber just like Jobs returned to Apple.


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## itsablackmarket (May 12, 2015)

goneubering said:


> Sure it is. He's the mad genius who built Uber for years. No matter what else he achieves in life he will always be known as the Uber guy. I'm sure he would love to triumphantly return to Uber just like Jobs returned to Apple.


He probably wants his money so he can invest it in new ideas he has.


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## Taxi Driver in Arizona (Mar 18, 2015)

Remember when Uber was floating the idea that they were worth $120B?


Market Cap47.832B


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## ABC123DEF (Jun 9, 2015)

Thetomatoisajoke said:


> ? their biggest expense is "paying the drivers "
> The entitlement . No drivers = no money .


"That dude in the car..."


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## jocker12 (May 11, 2017)

Taxi Driver in Arizona said:


> Remember when Uber was floating the idea that they were worth $120B?
> 
> 
> Market Cap47.832B


https://www.cnbc.com/2019/03/15/ubers-eye-popping-valuation-worth-more-than-nvidia-and-paypal.html
These are the same people saying the self driving cars are here, they are the future and they'll change transportation as we know it.

Mark my words - The story of self driving cars it'll be much worse than the story of Uber.


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## Stevie The magic Unicorn (Apr 3, 2018)




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## Slim Pete (Nov 21, 2014)

Aneed Momoney said:


> Increased revenue but bigger losses( like I showed) means it's insolvent.


You're just a poor little ant who has no idea what he's yapping about. wouldn't even waste my time trying to explain.



kingcorey321 said:


> only thing i want to add is i hope they close uber at the end of this year


omg, ants are so stunningly clueless. 
uber has 12 bn in the bank, it ain't going nowhere.
its Rides division is already profitable - its loss is due to stock based compensation and losses incurred by the other 4 divisions.. Frieght, Eats, Autonomous Research, and Other Bets


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## L DaVinci (Oct 26, 2019)

5:13 am Uber Stock is heading south, 27.52. Hopefully the BoD ? Dara and hires a competent CEO.


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## itsablackmarket (May 12, 2015)

jocker12 said:


> https://www.cnbc.com/2019/03/15/ubers-eye-popping-valuation-worth-more-than-nvidia-and-paypal.html
> These are the same people saying the self driving cars are here, they are the future and they'll change transportation as we know it.
> 
> Mark my words - The story of self driving cars it'll be much worse than the story of Uber.


AI is tricky because I think in order for it to really learn, it has to be out in the streets making mistakes. The public isn't going to stand for a robotic version of a toddler in the streets learning it's world at the expense of others.


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## Aneed Momoney (Apr 3, 2017)

Slim Pete said:


> You're just a poor little ant who has no idea what he's yapping about. wouldn't even waste my time trying to explain.
> 
> 
> omg, ants are so stunningly clueless.
> ...


How much lead paint did you eat growing up?


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## njn (Jan 23, 2016)

L DaVinci said:


> 5:13 am Uber Stock is heading south, 27.52. Hopefully the BoD ? Dara and hires a competent CEO.


bring back travis!


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## jocker12 (May 11, 2017)

itsablackmarket said:


> AI is tricky because I think in order for it to really learn, it has to be out in the streets making mistakes. The public isn't going to stand for a robotic version of a toddler in the streets learning it's world at the expense of others.


Pattern recognition software (A.I.) is ONLY learning from data sets, and is only working in computer vision and sound recognition. When somebody says pattern recognition software learns from its experience you now for sure, that person has no clue about what they are talking about (see Elon Musk) - see https://arxiv.org/ftp/arxiv/papers/1801/1801.00631.pdf


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## kingcorey321 (May 20, 2018)

Slim Pete said:


> You're just a poor little ant who has no idea what he's yapping about. wouldn't even waste my time trying to explain.
> 
> 
> omg, ants are so stunningly clueless.
> ...


i still hope ube closes along with lyft .


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## Diamondraider (Mar 13, 2017)

Cynergie said:


> I wouldn't write them off just yet. Especially since their share holders have yet to bail/get compensated before any fire sale. Also I suspect Lyft will enter the black hole of insolvency long before Uber does. They can't sustain consecutive stock hits and operational business losses being the smaller of these two ride share charlatans.
> 
> OTOH: Uber's implosion is going to leave a vaccum in the rideshare industry with the magnitude Lehman Brothers left on the finance world and Wall St. It's demise will mean a game changer that will either kill off or reboot the industry. In the case of the latter, many smaller and competitive rideshare companies may crop up in its wake. Which is good for both consumer/pax and drivers. Both parties would finally have access to competitive wages since the monopoly in the industry has finally been broken.
> 
> ...


Many are of the opinion that amazon's traditional business is thriving and is responsible for the stock price. I fact, if amazon did not have a cloud services platform, the stock price might be lower than Uber's


----------



## itsablackmarket (May 12, 2015)

jocker12 said:


> Pattern recognition software (A.I.) is ONLY learning from data sets, and is only working in computer vision and sound recognition. When somebody says pattern recognition software learns from its experience you now for sure, that person has no clue about what they are talking about (see Elon Musk) - see https://arxiv.org/ftp/arxiv/papers/1801/1801.00631.pdf


Great, so where do these data sets come from, genius?


----------



## Drivincrazy (Feb 14, 2016)

Who's going to insure the sdcs? We know it won't be James River Insurance. Presently, the nighttime robot-pedestrian hit rate is about 80% when it emerges from between parked cars on curb. Good Luck finding an insurance company with those kind of numbers.


----------



## jocker12 (May 11, 2017)

itsablackmarket said:


> Great, so where do these data sets come from, genius?


You should Google it - deep learning data sets.

All the computer vision data picture data sets - here is a video about how to create such image sets using Google Images - https://www.pyimagesearch.com/2017/12/04/how-to-create-a-deep-learning-dataset-using-google-images/, are already taken pictures.

The Convolutional Neural Networks algorithms use ALREADY EXISTING data sets (mostly *pictures from the internet *(image libraries)* - *http://deeplearning.net/datasets*/*). In order to improve deep learning, you need to retrain the CNN's with new data sets over and over again.

When analyzing images after the algorithms were already trained (like a self-driving car suppose to do on the road), the computer vision software is EXECUTING (recognizing images) and NOT training anymore.

Do you have any more questions?


----------



## goneubering (Aug 17, 2017)

Aneed Momoney said:


> Increased revenue but bigger losses( like I showed) means it's insolvent.


Uber's not even close to insolvent as real investors know. Their stock only dropped $1.05 so all the panic talk on this board was once again wrong.

Edit. I just looked again. It hasn't closed yet but it looks like it will have about a one dollar loss today which could be considered a victory by Uber management.


----------



## jocker12 (May 11, 2017)

goneubering said:


> which could be considered a victory by Uber management.


You know how, when you have cancer, every day alive is a victory... but the cancer is eating you from inside out.


----------



## goneubering (Aug 17, 2017)

jocker12 said:


> You know how, when you have cancer, every day alive is a victory... but the cancer is eating you from inside out.


Dara has taken some baby steps toward cutting costs. He needs to get very serious now or powerful people will start questioning if he's the right man for the job.


----------



## jocker12 (May 11, 2017)

goneubering said:


> Dara has taken some baby steps toward cutting costs. He needs to get very serious now or powerful people will start questioning if he's the right man for the job.


He was the only one to promise a $120 billion IPO and failed. He has no clear plan to break even and prefers to complicate the business instead of simplifying it.

But this is not about the CEO. This is about if and how Uber respects its partners, the drivers. As simple as that.

Food delivery, something Dara was saying is going to be huge, is going down, because the other players do the same thing Uber did - undercut the competition by subsidizing the service to attract customers.

The bicycles and the scooters are a laughable business. Better recruit few kids and ask them to sell lemonade on the street because that's more profitable with the same type of ridiculous simplistic millennial idea.

Now Uber wants a financial unit, freight and helicopters.

I call Uber corporate people - Uber incompetent intellectual masturbators. And their CEO is the king in their jungle.


----------



## Cynergie (Apr 10, 2017)

jocker12 said:


> He was the only one to promise a $120 billion IPO and failed. He has no clear plan to break even and prefers to complicate the business instead of simplifying it.
> 
> But this is not about the CEO. This is about if and how Uber respects its partners, the drivers. As simple as that.
> 
> ...


QFT. DK should make it a mandatory salaried employee policy to watch Southpark. There's a LOT they could learn from it. Especially the bold text which has been made forever infamous by the twisted genius that is Trey Parker and Matt Stone :roflmao:

Sorry. Couldn't resist.....




























The scooter pandemic is just that. Another dysfunctional, socially conscious, eco friendly, pro utopian, game changing, and completely illogical Millennial inspiration. That was imposed upon the American public by people with more money than common sense. With the exact zero sum practical outcome i.e. marginal to non existent profits. Just like the revolutionary impact that 16 year old Swedish wunderkind who milked the world's **** at the UN for all she could about Climate Change. Then departed said Climate Change summit for home shortly afterwards. At maximum warp speed. In a JET AIRCRAFT.....:laugh::roflmao::laugh:


----------



## veblenrules (Jul 14, 2014)

Lemonade stands, shoeshines, etc. They'll be all right...


----------



## Cold Fusion (Aug 28, 2019)

goneubering said:


> *Uber's not even close to insolvent as real investors know. Their stock only dropped $1 which could be considered a victory by Uber management.*


Agreed,
There are 100,000,000 (100 million) worldwide Uber passengers (according to Bloomberg) who LIKE the service.✔
An unlimited Worldwide Supply of No skill workers available to be exploited.

Result: Uber will survive just Fine ?

?unless .....drivers Stop chauffeuring Khosrowshahi clients for pennies
........There seems to be Zero chance of that happening ✔


----------



## ANThonyBoreDaneCook (Oct 7, 2019)

mch said:


> The app better still work this weekend. I need money to buy crack.


Just get the Uber Visa Debit card and use the $100 backup balance.
I have 5 cracks for $100
Cash App me at WhiteNuggetLover69
I got you...


----------



## mch (Nov 22, 2018)

ANThonyBoreDaneCook said:


> Just get the Uber Visa Debit card and use the $100 backup balance.
> I have 5 cracks for $100
> Cash App me at WhiteNuggetLover69
> I got you...


That's ****ing screen name gold right there!

I don't have an uber visa. But I got some cheeseburgers!!!


----------



## NoPooPool (Aug 18, 2017)

Slim Pete said:


> You're just a poor little ant who has no idea what he's yapping about. wouldn't even waste my time trying to explain.
> 
> 
> omg, ants are so stunningly clueless.
> ...


Insolvent? Uber does what, some 15 or18 MILLION rides per day, worldwide. Someone mentioned today Uber's take rate on average is 21% or so.

Not sure how that is figured, because their take rate on my rides runs between 20-60% of the rider paid revenue. They are averaging around 15,000,000 rides per day, bottom line.


----------



## BogusServiceAnimal (Oct 28, 2019)

https://www.bloomberg.com/news/arti...6-5-billion-operating-loss-on-wework-and-uber
Softbank's first loss in 14 years.


----------



## Hpil77 (Feb 7, 2019)

Hopindrew said:


> Uber down big in after hours trading today
> 
> Uber cannot and will not be profitable the way it is being run. The only way Uber can become profitable is to raise rates to a point they can make a profit but at the same time that would cut the massive amounts of people who order an Uber so there would be a mammoth loss of riders. But then regulations are already in sight already in nyc and California. I can tell you know to earn a profit and pay a driver a fair wage with expenses paid for drivers UBER will cost more than a taxi. I can't wait til Uber is gone. I do look forward to it.


I can wait to January what happens in California this is the law and going be national


----------



## goneubering (Aug 17, 2017)

jocker12 said:


> He was the only one to promise a $120 billion IPO and failed. He has no clear plan to break even and prefers to complicate the business instead of simplifying it.
> 
> But this is not about the CEO. This is about if and how Uber respects its partners, the drivers. As simple as that.
> 
> ...


I don't think it was Dara's promise. We know the absurd $120 Billion idea was being promoted by Goldman Sachs and Morgan Stanley for their own benefit.

Also remember TK pushed the ridiculous idea of a $200 Billion IPO when he was in charge. His words were essentially to the effect of "We have failed if the IPO is less than $200 Billion."


----------



## jocker12 (May 11, 2017)

goneubering said:


> I don't think it was Dara's promise. We know the absurd $120 Billion idea was being promoted by Goldman Sachs and Morgan Stanley for their own benefit.
> 
> Also remember TK pushed the ridiculous idea of a $200 Billion IPO when he was in charge. His words were essentially to the effect of "We have failed if the IPO is less than $200 Billion."


Every single other possible CEO at that time declined the job. Jeff Immelt _has announced that he has "decided not to pursue" Uber's top spot despite reports that he was the leading candidate (_https://www.engadget.com/2017/08/27/ge-chief-withdraws-as-uber-ceo-candidate_/)_ , and Meg Whitman _says "Uber's CEO will not be Meg Whitman" _(https://www.usatoday.com/story/tech.../whitman-ubers-ceo-not-meg-whitman/519760001/)

It was not the board deciding Whitman or Immelt are not fit for the position, it was them backing away from what the board asked them to deliver.

The only ambitious "monkey" that jumped for the money was Dara (and he literally appeared from nowhere).

The board was pushing to get their "profits" through an IPO after the disastrous 2017. What Kalanick was pushing for has no relevance, as long as the board was pulling the strings - and their number was $120 billion.

This was his BS from the day the new CEO promised to deliver in 2019 - https://uberpeople.net/threads/uber...o-the-plan-to-screw-the-drivers-video.263516/

The ridiculous Koshrowshahi was hyping the ebikes - _"Ebikes make you feel like superman"._
What a dork...

Edit - Huber Horan came to the same conclusion - "The path to the recent IPOs was triggered by the 2017 rebellion of Uber Board members frustrated by their inability to covert the paper gains on their investments into real money. Uber CEO Travis Kalanick, who knew that Uber was not ready to face full capital market scrutiny, was replaced by Dara Khosrowshahi, who promised an IPO by the end of 2019, and was promised a $100 million bonus if the IPO achieved a valuation of $120 billion." - https://www.nakedcapitalism.com/201...e-the-public-narrative-about-ridesharing.html


----------



## tohunt4me (Nov 23, 2015)

BogusServiceAnimal said:


> https://www.bloomberg.com/news/arti...6-5-billion-operating-loss-on-wework-and-uber
> Softbank's first loss in 14 years.


----------



## goneubering (Aug 17, 2017)

jocker12 said:


> Every single other possible CEO at that time declined the job. Jeff Immelt _has announced that he has "decided not to pursue" Uber's top spot despite reports that he was the leading candidate (_https://www.engadget.com/2017/08/27/ge-chief-withdraws-as-uber-ceo-candidate_/)_ , and Meg Whitman _says "Uber's CEO will not be Meg Whitman" _(https://www.usatoday.com/story/tech.../whitman-ubers-ceo-not-meg-whitman/519760001/)
> 
> It was not the board deciding Whitman or Immelt are not fit for the position, it was them backing away from what the board asked them to deliver.
> 
> ...


If all that's accurate then the board was almost as bad as TK. It's no surprise several potential CEOs turned down the job.


----------



## tohunt4me (Nov 23, 2015)

goneubering said:


> If all that's accurate then the board was almost as bad as TK. It's no surprise several potential CEOs turned down the job.


The BOARD WAS HORRIBLE !

THEY SLANDERED TRAVIS TO GAIN CONTROL OF UBER.

THEN THEY LED A GREEDY RUSH TOWARDS I.P.O. !

THIS IS THE BOARDS FAULT !!!


----------



## WindyCityAnt (Feb 24, 2019)

I think the largest markets should look at NY. Cap the drivers limit!

The market I’m in is a free for all. Including the city. They are so corrupt from the Uber money they don’t care. So they gonna I pose a massive rideshare tax on all pax. This is the first smart thing to discurage stupid ants all over the place that are gonna get someone killed. 

Next should be capping the limit to ease up the congestion the mayor is complaining about. But no, they just wanna make you pay more now.


----------



## goneubering (Aug 17, 2017)

tohunt4me said:


> The BOARD WAS HORRIBLE !
> 
> THEY SLANDERED TRAVIS TO GAIN CONTROL OF UBER.
> 
> ...


Well TK was awful. So there's that.



uberdriverfornow said:


> the problem with uber and lyft are the hundreds of millions spent each quarter on SDC's alone


True story for Uber!! Their SDC division is a money sucking black hole that should be abandoned now but they probably can't do it because of their partnership with Toyota.


----------



## Who is John Galt? (Sep 28, 2016)

Cynergie said:


> Just like the revolutionary impact that 16 year old Swedish wunderkind who milked the world's **** at the UN for all she could about Climate Change. Then departed said Climate Change summit for home shortly afterwards. At maximum warp speed. In a JET AIRCRAFT.....:laugh::roflmao:


I really have to take issue with you regarding the above. It is simply not correct.

Let me be clear - I am not a fan of global warming prophet Greta Bratberg, and her "How Dare You!" histrionics, but I don't believe she:

"...departed said Climate Change summit for home shortly afterwards", much less in a jet aircraft.

As far as I am aware, since the Climate Change summit in NY, she has travelled slowly through the North American continent, both the US and Canada, moving southwest and then eventually through South America towards Santiago, the Chilean capital.

It is only now she is looking to head back to Europe, and in particular COP25 in Madrid.

The smart money says that she might travel overland by dogsled.

Or hopefully, she has to swim. :smiles:

.


----------



## Cynergie (Apr 10, 2017)

BogusServiceAnimal said:


> https://www.bloomberg.com/news/arti...6-5-billion-operating-loss-on-wework-and-uber
> Softbank's first loss in 14 years.


_Pride always goeth before fall._

--- Lucifer, world's supernatural in house resident expert


----------



## Tenderloin (Sep 5, 2016)

whatever money uber makes from rideshare ,they invest in other biz or giving out huge bonuses to their employees in the end of the year ,on paper they call it "expenses". I dont see how taking 25%-50% from every ride while providing zero (no car expenses , no gas ) can be so unprofitable unless money being siphoned somewhere else. They play a game, i wish we had 100% rideshare company that invests profit back into rideshare, not into their personal/corporate interest.


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## Cynergie (Apr 10, 2017)

You just explained where that 25% to 50% in eye gouging drivers in pax profit goes.

Basically, towards the unjustifiable six figure salaries Uber has to pay their corporate white collar employees (the likes of the ones in San Francisco HQ) and even higher six fig salaries to DK and Uber's exec board. Besides this, the rest of Uber's mafiosi cut theft of your rideshare revenue goes towards:

settling and resolving past and existing lawsuits from former white collar employees
cost of ongoing legal arbitration services to settle/resolve labor force issues with its extensive driver contractor work force
subsidizing whatever meager O&M services (like free oil changes, service inspection etc) they may still provide drivers in the US and/or worldwide (since officially terminating the lease program with Enterprise & Hertz).
trying to diversify their brand by expanding into the trucking logistics (LTL/OTR lower 48 etc) with transportation industry companies and independent truckers.
lobbying Congress to pass Uber friendly legislature and policies in the states they have an operational footprint (they're spending millions to find a way to circumvent CA AB5 to date on Capital Hill)
bribing securing consultation fees for influential community/top organization leaders who represent labor powerhouses like Unions
currying favor with an increasing number of socialist prone governments (which tend to be pro consumer) in other foreign countries to pass more favorable Uber legislation
wasteful R&D futuristic technologies like flying/driverless cars. Which create more legal expense in #1 from pedestrian injuries and fatalities to date.
Trying to expand more globally (to whatever countries will tolerate them) to increase their customer acquisition footprint. Which btw, further complicates their operational footprint and leads to more operational expenditure in #1 - #3
Inventing worthless Millennial money making schemes the likes of non profitable UberEats and Uber Scooters. The latter which has created even more legal costs from lawsuits in #1. Like here :laugh: 
http://www.theguardian.com/technology/2019/nov/04/uber-los-angeles-permit-data-privacy
http://nakedsecurity.sophos.com/201...d-to-protect-scooter-riders-geolocation-data/
Seriously, the list of goof billy tomf*ckery since its inception over a decade ago is too long to list here. Remember Google is your friend where Uber is concerned. :roflmao:


----------



## Stevie The magic Unicorn (Apr 3, 2018)

The cab company i'm driving for only gets about 30% off me these days, lower on a busy day. And they provide me a car for that 30%


----------



## jocker12 (May 11, 2017)

Who is John Galt? said:


> Or hopefully, she has to swim. :smiles:


The child has options - UberRaft












goneubering said:


> If all that's accurate then the board was almost as bad as TK. It's no surprise several potential CEOs turned down the job.


While the board was looking for somebody to admit the $120 billion IPO was possible (and they probably had a timeframe for it as well), they've instructed the remaining leading team at that time, to start the "180 days of change" PR campaign to minimize the negative perception the public suddenly had for their "so loved" disruptor - Uber.

That campaign was the proof Uber knows what to do regarding their drivers, but also shown how Uber will respect their drivers only under immense pressure from the law or/and from the public.

So, I am patiently waiting for their stock to go down to its real value of $2.75 a share, to see them coming back to their senses.


----------



## Elmo Burrito (Feb 3, 2017)

jocker12 said:


> He was the only one to promise a $120 billion IPO and failed. He has no clear plan to break even and prefers to complicate the business instead of simplifying it.
> 
> But this is not about the CEO. This is about if and how Uber respects its partners, the drivers. As simple as that.
> 
> ...


You jus reminded me of a saying. In the land of the blind the one eyed man is king. Apparently in this business there are a lot of blind people including us drivers but at the same time, I think we are the one eyed man.


----------



## Clothahump (Mar 31, 2018)

Man, Dara and pals must be sucking money out like a Hoover on steroids and stashing it overseas.


----------



## goneubering (Aug 17, 2017)

Stevie The magic Unicorn said:


> The cab company i'm driving for only gets about 30% off me these days, lower on a busy day. And they provide me a car for that 30%


Is that Mears?


----------



## 5☆OG (Jun 30, 2019)

i been saying before the ipo,give them 12 to 18 months if even that and its hasta la vista baby!!!


----------



## Uberguy1 (Apr 14, 2016)

Cold Fusion said:


> *Uber reported Q3 2019 earnings that beat analyst estimates on the top and bottom lines.*
> *?Uber needs to reduce driver earning by Taking a higher percent of Fares and charge Drivers a monthly App Access fee*✔
> 
> The company also reported a quarterly loss topping $1 billion.
> ...


Is that what you think? Or is that fact? I'm referring to charging a monthly fee?


----------



## kevin92009 (Sep 11, 2016)

Aneed Momoney said:


> Increased revenue but bigger losses( like I showed) means it's insolvent.


Why can't they just burn and get it over with


----------



## dauction (Sep 26, 2017)

Uber is not finished..they will in 16 months simply reorganize in Bankruptcy and THEN start charging the actual rates for rides and become profitable.... Lyft will follow the rate increase


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## Hackenstein (Dec 16, 2014)

Stevie The magic Unicorn said:


> The cab company i'm driving for only gets about 30% off me these days, lower on a busy day. And they provide me a car for that 30%


NYC?


----------



## Stevie The magic Unicorn (Apr 3, 2018)

Hackenstein said:


> NYC?


Orlando Florida,

home of the worst uberX pay rates north of the Mexican border


----------



## 5☆OG (Jun 30, 2019)

Stevie The magic Unicorn said:


> Orlando Florida,
> 
> home of the worst uberX pay rates north of the Mexican border


What are the rates in florida?


----------



## Stevie The magic Unicorn (Apr 3, 2018)

5☆OG said:


> What are the rates in florida?


Orlando rates,

Taxi $2.40 mile 45c a minute under 20 MPH
UberX- 53c a mile 8c a minute


----------



## 5☆OG (Jun 30, 2019)

53 and 8 .....fing brutal


----------



## Stevie The magic Unicorn (Apr 3, 2018)

5☆OG said:


> 53 and 8 .....fing brutal


Last night...

$247 gross revenue
208 miles
-$76 taxi rental
-$19 gas
-$5 tolls
= a heck of a lot better than barely breaking even on uberX


----------



## goneubering (Aug 17, 2017)

Stevie The magic Unicorn said:


> Last night...
> 
> $247 gross revenue
> 208 miles
> ...


Is that an 8 hour shift?


----------



## Stevie The magic Unicorn (Apr 3, 2018)

goneubering said:


> Is that an 8 hour shift?


11 hours, i quit early because it got slow. (20:30 Friday until 7:30 Saturday) (I also had 15 minutes extra with the car keys to clean it up before the shift)

12 hours is what they technically are.


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## goneubering (Aug 17, 2017)

Stevie The magic Unicorn said:


> 11 hours, i quit early because it got slow. (20:30 Friday until 7:30 Saturday) (I also had 15 minutes extra with the car keys to clean it up before the shift)
> 
> 12 hours is what they technically are.


Thx. Those are challenging numbers to think about but your cost of living is lower in Orlando than we have in most of Cali so I guess it somewhat balances out.


----------



## Fuzzyelvis (Dec 7, 2014)

lyft_rat said:


> Uber is not going away. And why would you want it to? It is exceptably good for those who drive smart. It is a cash cow for those who cherry pick in the right market. 5-10 rides a week is all I want. $200.


Yeah, I'm not moving to Boston just to be in the "right market." I'll stay where it's warm and deliver pizza instead.


----------



## lyft_rat (Jul 1, 2019)

Fuzzyelvis said:


> Yeah, I'm not moving to Boston just to be in the "right market." I'll stay where it's warm and deliver pizza instead.


I am not saying Boston is the best market, it probably isn't, having its downsides. But at least it is busy.


----------



## EphLux (Aug 10, 2018)

SurgeMasterMN said:


> DK for the spin


Dara would never make it as a medical doctor with that type of spin:

Dr. Dara talking to family regarding patient that just died: The bad news is Suzie has died. The hope, however, is that she may just be having a Near Death Experience. One guy even came back after 3 days.


----------



## troothequalstroll (Oct 12, 2019)

if they start showing trip details like reported it could very well be the shot they need to not be finished

i want em all in prison but if i now can see details & have a choice to run a profitable business without the cancel screen games im good & lyft will have to follow

any idiots that want to "share" their rides for $3-8 now have a choice & i can ignore all the nonsense airport only or if im headed that way like a true independent contractor


----------



## Stevie The magic Unicorn (Apr 3, 2018)

goneubering said:


> Thx. Those are challenging numbers to think about but your cost of living is lower in Orlando than we have in most of Cali so I guess it somewhat balances out.


1. There's no state income tax. (thereby increasing the relative pay)
2. $1000 a month can get you rent+ utiltiies for a modest apartment in a decent enough neighborhood. If i went full time i could cover this in 1.5 weeks.
3. Get a room mate and the above math becomes easier still.

Breakdown for comaring 4 shifts a week, (reasonable enough to work 4 shifts every week), lowered to a more realistic average, (IE not Friday night)
4 shifts a week (48 hours), $130+ = $520+
48 hours of min wage with no overtime (2 crap min wage jobs so no OT)= $406

So compared to 2 min wage jobs with crap hours it's about 28% higher.

Driving a taxi is far from the worst jobs there are around here, especially considering that 40+ hours is guaranteed


----------



## Oscar Levant (Aug 15, 2014)

Hopindrew said:


> Uber down big in after hours trading today
> 
> Uber cannot and will not be profitable the way it is being run. The only way Uber can become profitable is to raise rates to a point they can make a profit but at the same time that would cut the massive amounts of people who order an Uber so there would be a mammoth loss of riders. But then regulations are already in sight already in nyc and California. I can tell you know to earn a profit and pay a driver a fair wage with expenses paid for drivers UBER will cost more than a taxi. I can't wait til Uber is gone. I do look forward to it.


Uber's biz model is based on a gross misunderstanding of the transportation markets.

I"ve been in the taxi/shuttle/limo biz for a good part of my 68 years.

Let's take Super Shuttle in San Diego. Before Uber, they had 80 vans, now they have about 50, that's uber's doing.

Uber has been taking customers from buses and shuttles. This is because Uber's pricing structure is so low, why take a bus or a shuttle when you can take an uber for ony slightly more?

Thing is, UBer will go out of business on it's pricing structure, and will have no choice but to raise prices to what taxis charge. 
All that will happen is that those customers who never took cabs, who took buses and shuttles, will return to buses and shuttles, where they belong, and Uber's customer base will be rooted in REALITY, see? Those people never should have uber customers in the first place.

Travis, at the gitgo, wanted riding Uber to be "cheaper than owning a car".

That is insane. Hey, Travis, who owns the frickin' car? It's not you. the driver owns the car, so how does that model square with the guy who owns the car? It doesn't compute.

Let the cheapskates return to shuttles an buses, because hiring an exclusive ride, a man/woman and a $25k car, never was meant to be cheap in the first place, it was meant to be convenient. It's the same principle you pay more for a quart of milk at 7 eleven. Convenience.

Uber doesn't understand this, and the reason it doesn't understand this it that it is being run by techies, not transportation professionals.


----------



## goneubering (Aug 17, 2017)

Oscar Levant said:


> Uber's biz model is based on a gross misunderstanding of the transportation markets.
> 
> I"ve been in the taxi/shuttle/limo biz for a good part of my 68 years.
> 
> ...


That's a very interesting take except Uber's already making a solid profit on rideshare in the US. The problem for them is wasting hundreds of millions with their other divisions. Dara needs to cut thousands of employees and slash the money losing divisions.


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## Cynergie (Apr 10, 2017)

DK needs to keep them. Uber needs to die. So the monopoly over the ride share market can be broken and fair, profitable pricing can occur for both pax and driver. One hundred lemonade stands will make this a reality vs. the 2 cartel Snapple/Ocean Spray global corporations which dominate this industry.


----------



## Hopindrew (Jan 30, 2019)

goneubering said:


> That's a very interesting take except Uber's already making a solid profit on rideshare in the US. The problem for them is wasting hundreds of millions with their other divisions. Dara needs to cut thousands of employees and slash the money losing divisions.


Uber's not making a profit anywhere. Lyft is only in the US and there losing big. You can't charge a money losing price and stay in business. It's simple math.


----------



## peteyvavs (Nov 18, 2015)

EphLux said:


> Dara would never make it as a medical doctor with that type of spin:
> 
> Dr. Dara talking to family regarding patient that just died: The bad news is Suzie has died. The hope, however, is that she may just be having a Near Death Experience. One guy even came back after 3 days.


Came back after 3 days in a lyft.


----------



## Cynergie (Apr 10, 2017)

It's only a matter of time before SoftBank cuts ties with Uber tbh. WeWork (SoftBank's hedge fund) is already on it's way out the door.

Who is WeWork you say? Just like Uber, WeWork is NOT an IT company. Why? Because its core business competencies say so.

WeWork. Uber's fugly red headed step sibling. Theranos' forgotten cousin. Bastard first born of every failed 90's DotCom. Enron's grandchild. Uber will follow it's step sibling in it's downward swan dive to oblivion.


----------



## Oscar Levant (Aug 15, 2014)

goneubering said:


> That's a very interesting take except Uber's already making a solid profit on rideshare in the US. The problem for them is wasting hundreds of millions with their other divisions. Dara needs to cut thousands of employees and slash the money losing divisions.


Really? Can you source this? Didn't Uber lose some 5 billion recently , the most in it's history?

I really don't think Uber has totally figured out just what it's business model is.

https://knowledge.wharton.upenn.edu/article/uber-profitability/


----------



## goneubering (Aug 17, 2017)

Oscar Levant said:


> Really? Can you source this? Didn't Uber lose some 5 billion recently , the most in it's history?
> 
> I really don't think Uber has totally figured out just what it's business model is.
> 
> https://knowledge.wharton.upenn.edu/article/uber-profitability/


I'm sorry but I can't find the article showing a US profit. I should have bookmarked it.

Uber says it made a $631 million profit from Rides and it's highly likely most of the profit was earned in the US.

https://arstechnica.com/cars/2019/1...st-quarter-says-rides-are-profitable-sort-of/
_Uber says that, if you exclude certain non-operating expenses-mainly interest, depreciation, and stock-based compensation-the "rides" app actually earned a substantial $631 million profit.

That's enough to cover the company's core operating expenses, the company said. But Uber's profitability was dragged down by losses in its other businesses-mainly a $316 million loss from Uber Eats._


----------



## Stevie The magic Unicorn (Apr 3, 2018)

Are we counting taxes they arn't paying in their loss?


----------



## goneubering (Aug 17, 2017)

Oscar Levant said:


> Really? Can you source this? Didn't Uber lose some 5 billion recently , the most in it's history?
> 
> I really don't think Uber has totally figured out just what it's business model is.
> 
> https://knowledge.wharton.upenn.edu/article/uber-profitability/


Here's a link from 2016 where TK was already claiming US profits. I believe he was right in this case. The problem has been Uber wasting hundreds of millions on other divisions like Eats and SDCs along with massive losses in China that was bleeding the company dry. They finally got out of China but it was a gigantic financial setback.

https://www.businessinsider.com/uber-says-its-profitable-in-the-us-2016-4
*Uber says it's 'profitable' in the US - here's how much it makes per ride*


----------



## Cynergie (Apr 10, 2017)

goneubering said:


> I'm sorry but I can't find the article showing a US profit. I should have bookmarked it.
> 
> Uber says it made a $631 million profit from Rides and it's highly likely most of the profit was earned in the US.
> 
> ...


Errr......

The last time I checked:

Profit = Earnings - Losses. Which implies Uber's earnings for 4Q 19 would've had to be at least $1.731 BILLION for 3Q 19.

Additionally by definition, the Net Income is a measure of the business venture's profitability. Mathematically, this is:

Net Income = Revenue - Cost of Goods Sold - Expenses - Depreciation/Amortization - Interest - Taxes

So based on the company's statement, it appears their core expenses are being covered (apparently just barely) after factoring mandatory expenditure such as taxes and depreciation. However, this does NOT explain their NEGATIVE net income of $1.16 BILLION for end of 3Q 19. Even after factoring in the $0.316 Billion loss from their non profitable UberEats....

http://www.google.com/search?rlz=1C...scso=_yErRXdHINIac5wLcyraIBA9:0&wptab=COMPANY


----------



## goneubering (Aug 17, 2017)

Cynergie said:


> Errr......
> 
> The last time I checked:
> 
> ...


I can't get your link to work but there's no doubt Uber's financial numbers have been creative in the past.


----------



## jocker12 (May 11, 2017)

goneubering said:


> I can't get your link to work but there's no doubt Uber's financial numbers have been creative in the past.


Yeah, I'll be very careful saying that Uber rideshare in the US is covering their corporate expenses already. I understand how people willing Uber to survive and succeed will believe it, but I am not sure Uber actually achieved that.

I also see how Timothy B. Lee from ArsTechnica came to his conclusion (looking at those numbers) and immediately backed out of it (by adding "sort of" to Uber's confusing accounting).


----------



## Cynergie (Apr 10, 2017)

They can no longer afford to be creative where numbers are concerned. Not with the scrutiny from both Wall Street and Main Street alike being too glaring.

A decent summary link about their third quarterly numbers and pics for 3Q 19:

Quick Uber 3rd Quarter Earnings Summary

While their net change in cash flow dropped from $6 Billion to $950 Million by end of 3Q, their revenue DID go up. But this was at the cost of other aspects (like stiffing driver base with McScrooge rates etc). Their initial IPO back in May helped a bit, but that still doesn't explain why their net income is still so negative if sinks like taxes and depreciation are factored. Interesting analysis on Uber's $5 Billion 2Q 19 loss back in August of this year.


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## Oscar Levant (Aug 15, 2014)

goneubering said:


> Here's a link from 2016 where TK was already claiming US profits. I believe he was right in this case. The problem has been Uber wasting hundreds of millions on other divisions like Eats and SDCs along with massive losses in China that was bleeding the company dry. They finally got out of China but it was a gigantic financial setback.
> 
> https://www.businessinsider.com/uber-says-its-profitable-in-the-us-2016-4
> *Uber says it's 'profitable' in the US - here's how much it makes per ride*


That could be hype, we don't know, because back then, it's books were not open.



goneubering said:


> I'm sorry but I can't find the article showing a US profit. I should have bookmarked it.
> 
> Uber says it made a $631 million profit from Rides and it's highly likely most of the profit was earned in the US.
> 
> ...


Real world P/L's are about the bottom line, never about theoretical profits.

Okay, let's see Uber make a profit on the bottom line, and to date, they just haven't done it, which tells us that profit is not it's priority. However, the day will come when it has to be, especially now that the company has gone public.


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## troothequalstroll (Oct 12, 2019)

profit lol theyre 20 billion from breaking even in what theyve "burnt" over the last decade

ponzis dont care about profit they already have 50+ million dollar salaries, a 77 million dollar mansion, a 34 million dollar condo, hundreds of millions more laundered thru real estate, billions cashing out stock options, 25+ million to spend on parties...

lol over 1 billion rides or 250+ million hours of drivers labor went to 3 people

why on earth would they care if their scam i mean "company" profits?

its bail out or bought out for pennies on the dollar too big to fail style tax payers will pay for their crimes & more golden parachutes will rewars those at the top when this ponzi brings the market down



jocker12 said:


> Yeah, I'll be very careful saying that Uber rideshare in the US is covering their corporate expenses already. I understand how people willing Uber to survive and succeed will believe it, but I am not sure Uber actually achieved that.
> 
> I also see how Timothy B. Lee from ArsTechnica came to his conclusion (looking at those numbers) and immediately backed out of it (by adding "sort of" to Uber's confusing accounting).


tim lee is on uber lyfts payola

he actually wrote "$7 lyft lines" were "expensive" when drivers get less than 50% of it & a ny minimum fare in 1995 was $6.50 so after costs double what a driver gets 25 years later

like all bloggers posing as a "journalist" refuses to post an article showing historical cab rates next to ubers

nothing he writes can be seen as credible


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## Cynergie (Apr 10, 2017)

troothequalstroll said:


> profit lol theyre 20 billion from breaking even in what theyve "burnt" over the last decade
> 
> ponzis dont care about profit they already have 50+ million dollar salaries, a 77 million dollar mansion, a 34 million dollar condo, hundreds of millions more laundered thru real estate, billions cashing out stock options, 25+ million to spend on parties...


you forgot the hundreds of millions they've had to spend on employee lawsuits to date. On off the record/out of court settlements for *employee related suicides *from being overworked, to point where mental health issues became a workplace safety concern. On arbitration for *racial bias from managers* (who've been known to make racial slurs/jokes during conference meetings). And sexual harassment for which Uber became infamous to the public. Especially this as it made Uber synonymous with sexual predatory harassment with the likes of Susan Fowler's blog.

Fowler was a former female Uber site reliability engineer employee who (like many other women and some men) had to endure a daily gauntlet of sexual harassment from management. *With zero protection from HR (which was a sock puppet of management)*. Once the media picked up on this, her blog blew the lid off all the tomf*ckery that had been going on at Uber. And brought the likes of Eric Holder eagerly sniffing Travis's stinky underwear two years ago. Which resulted in a mile long list of management "improvements" aka Uber demoting Travis to the Board and promoting/hiring more minorities in high profile exec leadership positions the likes of current CEO DK and *Bazoma St John*). All of that past history racked up quite a bill in the hundreds of millions on Uber's toxic PR tab.

http://www.susanjfowler.com/blog/2017/2/19/reflecting-on-one-very-strange-year-at-uber
Speaking of Bazoma, one has to wonder why the grass suddenly appeared to be greener in other pastures based on her short tenure at Uber?


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## Stevie The magic Unicorn (Apr 3, 2018)

Uber’s numbers are a lie anyway.

their profit loss statements don’t include taxes they are refusing to pay,
(See New Jersey, the UK and probobly many others)


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## Aneed Momoney (Apr 3, 2017)




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## troothequalstroll (Oct 12, 2019)

Aneed Momoney said:


>


since eats started ive ignored everyone just turned on because they least shows details now ignored everyone still lol not one would of paid more than 4-6$ net for least 30-40+ minutes

they are preying on and exploiting the desperate the fbi & labor dept are being bribed to ignore its mostly seniors immigrants & poor

it would take 5 min to force detailed receipts & per trip mile minute minimums that must be paid to drivers as has been regulated for taxis cabs for almost a century

if you deliver a toothpick or 100-500 pounds of meatbags 1-10 miles for $3-4 gross you were human trafficked if you were paid $4-8 you worked for less than minimum wage

even her talking bout eats was cut in half means she was happy taking $6-8 rides which is mindboggling

whatever car you drive your costs will be $2-4 every ride period

uber lyft algos do not consider drivers costs or time at all lmao they paid her $3 & change to do all the work, take all the risks, pay all the costs & pockets $4 which after costs is prob 400% more than labor was paid lmao merikkka ef yeah

if they show an eats request for $4 thats 0-$2 net for least 20-30 minutes of labor

start sending your screenshots to the polaris project labor department fbi

ive ignored or cancelled pretty much every ride that doesnt pay $10 gross for 4+ years & thats mostly xl only

its not a secret the fbi labor department DO NOT care uber lyft human traffics you at less than minimum wage or pays 1970s wages its on billions of receipts

uber lyft will start the next market crash this has been going on years

they are looting as much as they can the feds have to bust down the door eventually while they can still get away with it by trying to take as much of the fare as possible & hiding the receipts so drivers cant document as easy theyyll get to 99% before anyone does anything


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## Cold Fusion (Aug 28, 2019)

Stevie The magic Unicorn said:


> don't include taxes they are refusing to pay,


Uber May be on to something,
Refuse to Pay Taxes✔
I like that &#128077;


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## Lowestformofwit (Sep 2, 2016)

https://yarn.co/yarn-clip/074a36d1-7f64-4e2d-a26c-76f12600ce32#Skrl4k3m-hS.copy


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## jocker12 (May 11, 2017)

Aneed Momoney said:


>


This here, is a big, big problem.

https://technewsobserver.com/news/2...blic-employees-retirement-system-updated.html


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## troothequalstroll (Oct 12, 2019)

jocker12 said:


> This here, is a big, big problem.
> 
> https://technewsobserver.com/news/2...blic-employees-retirement-system-updated.html


yup we can now screent shot & document contracts with illegal terms requiring free labor that any 3rd grade can verify

lol i wish one of these uber lyft cowards would walk up to a human face to face eye to eye & offer $4 gross to deliver em or their toothpick 1-10 miles hahaha see what really happens when you try to steal $1 out of someones pocket,

these criminals think their so clever would never in real life would they attempt such an insult but will hide behind an app and do it 15+ million times a day out of 20+ million trips to the elderly, immigrants, and people with the iq of corky from life goes on


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## tohunt4me (Nov 23, 2015)

Aneed Momoney said:


> lmfao we got a LYFT board member ghost account here


The WAY Lyft is paying Drivers

Everything About Lyft will be a GHOST !



jocker12 said:


> This here, is a big, big problem.
> 
> https://technewsobserver.com/news/2...blic-employees-retirement-system-updated.html


THEY ALWAYS DUMP BAD STOCK INTO THE WORKING POOR RETIREMENT FUNDS !

SHAMEFUL OUTRIGHT THEFT !


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## Cold Fusion (Aug 28, 2019)

tohunt4me said:


> The WAY Lyft is paying Drivers
> Everything About Lyft will be a GHOST !


.........Not if drivers continue to chauffeur Lyft's paying customers.
Problem ain't Lyft✔

and please stop shouting, I'm getting an EyeAche


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## goneubering (Aug 17, 2017)

jocker12 said:


> This here, is a big, big problem.
> 
> https://technewsobserver.com/news/2...blic-employees-retirement-system-updated.html


Why do you see a big problem?


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## jocker12 (May 11, 2017)

goneubering said:


> Why do you see a big problem?


The California Public Employees' Retirement System (CalPERS) is an agency in the California executive branch that "manages pension and health benefits for more than 1.6 million California public employees, retirees, and their families".

At this point, money invested in Uber is completely lost. By giving Uber your money you show you agree with their policies and with the way they do business.

In addition to that, when insiders/founders start selling billions of their stock you don't get your retirement money and your parent's retirement money and buy the sinking stock the insiders want to get rid of.


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## goneubering (Aug 17, 2017)

jocker12 said:


> At this point, money invested in Uber is completely lost. By giving Uber your money you show you agree with their policies and with the way they do business.
> 
> In addition to that, when insiders/founders start selling billions of their stock you don't get your retirement money and your parent's retirement money and buy the sinking stock the insiders want to get rid of.


No. Not completely lost. Of course we all see significant potential for loss in the short term but five years from now this could look like a smart investment.


----------



## jocker12 (May 11, 2017)

goneubering said:


> but five years from now this could look like a smart investment.


Please remember how this is the same company (with the same people) that are running their business consistent with the implementation of the self-driving cars.

Improving driver's rates and building a healthy relationship with their partners is a foreign concept to Uber and Lyft alike.

When the companies will wake up and reverse course, properly select, respect and empower the drivers in order to profit together (and dismiss any driver exploitation), the market cap could rich $10 (maybe $15) billion for Uber, and $2 (maybe $4) billion for Lyft.

Both companies know this is their real value but keep making those crazy bets on surreal projects in order to justify their overinflated valuation that's bling bling to the naive investors.

If miracles exist (and Jesus walked on water), then they'll have self-driving cars and return a trillion dollars to that pension fund.

There are only 2 options - either go bankrupt by chasing flying pigs, or respect the drivers and treat them with dignity, put together a plan to build a strong transportation concept that benefits all the players, and admit their limitations (grow up from their infantile dreams about their companies real values).

Buying Uber stock at a $47 billion market cap is suicidal.


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## goneubering (Aug 17, 2017)

jocker12 said:


> Please remember how this is the same company (with the same people) that are running their business consistent with the implementation of the self-driving cars.
> 
> Improving driver's rates and building a healthy relationship with their partners is a foreign concept to Uber and Lyft alike.
> 
> ...


There's almost always more than two options in any situation. I expect Dara will get the Titanic Uber turned around before it hits an iceberg but I could be wrong.


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## jocker12 (May 11, 2017)

goneubering said:


> There's almost always more than two options in any situation. I expect Dara will get the Titanic Uber turned around before it hits an iceberg but I could be wrong.


If there were more than 2 options, the taxicab companies would have recognize that long time ago and they would've changed transportation already.

This is about millennials that were told they were smart as an encouragement back when they were children thinking they'll cheat reality today and get away with it.


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## I will crack Lyft hacks (Aug 5, 2019)

goneubering said:


> No. Not completely lost. Of course we all see significant potential for loss in the short term but five years from now this could look like a smart investment.


What do you mean it could?

It's not a Casino! It's a retirement fund.
Something that should be like invested in a Vanguard or Berkshire or S&P index.

I would have put it in Hooters.inc or Hustler, Playboy Clubs are also safe bets.

Not betting on driverless cars and copters as Dara says within 5 years or complete wipe out with burn rates Uber can only manage.

If they bought at 40$ a share, I don't think it will go back up to brake even for them, unless a God handed miracle happens in driverless tech.


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## Aneed Momoney (Apr 3, 2017)

goneubering said:


> No. Not completely lost. Of course we all see significant potential for loss in the short term but five years from now this could look like a smart investment.


&#128516;&#128516;&#128516;&#128516;&#128516;&#128516;&#128516;&#128513;&#128518;


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## I will crack Lyft hacks (Aug 5, 2019)

goneubering said:


> There's almost always more than two options in any situation. I expect Dara will get the Titanic Uber turned around before it hits an iceberg but I could be wrong.


Before it hits an iceberg?

Have you checked the seas lately or the ships condition?

500 million from NJ misclassification last week before C.A had a go at it. Wait till C.A gives it a go and see how the wildfire will grow.

If you don't think the Iceberg has been hit yet, maybe look out the window.



jocker12 said:


> Please remember how this is the same company (with the same people) that are running their business consistent with the implementation of the self-driving cars.
> 
> Improving driver's rates and building a healthy relationship with their partners is a foreign concept to Uber and Lyft alike.
> 
> ...


They would have to let go off all other departments and ventures outside rideshare.
Did you see the Dara interview on HBO the other day. He said ride-share covers the overhead for all the company and they would be making profit for investors today if it was only ride share.

But no the Ponzi Scheme is to fake it till you buy a mansion and move on. You think Dara will be around with Uber in 5 years. Hell an, he will bounce once he cashes a billion.

They don't want you knowing about the real 10 billion market cap till they cash out.

The losers are the post IPO investors like this these clowns with peoples retirement money.


----------



## Cynergie (Apr 10, 2017)

jocker12 said:


> The California Public Employees' Retirement System (CalPERS) is an agency in the California executive branch that "manages pension and health benefits for more than 1.6 million California public employees, retirees, and their families".
> 
> At this point, money invested in Uber is completely lost. By giving Uber your money you show you agree with their policies and with the way they do business.
> 
> In addition to that, when insiders/founders start selling billions of their stock you don't get your retirement money and your parent's retirement money and buy the sinking stock the insiders want to get rid of.


The frightening part is CalPERS has been one of the worst, broke, and mismanaged state depts. Which has been assessed incapable of its future ability to support all CA state worker retirement plans.

Long, long before they pulled this insane gambling stunt....



I will crack Lyft hacks said:


> But no the Ponzi Scheme is to fake it till you buy a mansion and move on. You think Dara will be around with Uber in 5 years. Hell an, he will bounce once he cashes a billion.
> 
> They don't want you knowing about the real 10 billion market cap till they cash out.
> 
> The losers are the post IPO investors like this these clowns with peoples retirement money.


I'll settle for the 100 million he was originally promised thanks. That's more realistically feasible given their negatively trending valuation and imaginary potential capacity for future revenue generation.


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## goneubering (Aug 17, 2017)

Cynergie said:


> imaginary potential capacity for future revenue generation.


Uber generates massive revenue. That's what still attracts investors even with all of Uber's red ink.


----------



## jocker12 (May 11, 2017)

goneubering said:


> Uber generates massive revenue. That's what still attracts investors even with all of Uber's red ink.


This has "Uber" written all over it.






And now we have the confirmation - Masayoshi Son is a complete idiot.


----------



## goneubering (Aug 17, 2017)

jocker12 said:


> This has "Uber" written all over it.
> 
> 
> 
> ...


I just watched it. There's some good info but anything with the Cold Fusion name on it makes me wonder...


----------



## jocker12 (May 11, 2017)

goneubering said:


> I just watched it. There's some good info but anything with the Cold Fusion name on it makes me wonder...


Skip


----------



## goneubering (Aug 17, 2017)

jocker12 said:


> Skip


Uber won't crash as hard as We but there are some eerie similarities that unfairly make investors question other IPOs.

https://www.theatlantic.com/technology/archive/2019/09/why-wework-was-destined-fail/598891/


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## jocker12 (May 11, 2017)

goneubering said:


> Uber won't crash as hard as We but there are some eerie similarities that unfairly make investors question other IPOs.
> 
> https://www.theatlantic.com/technology/archive/2019/09/why-wework-was-destined-fail/598891/


I am sorry, my "skip" was for the user around here. This is a funny coincidence though.

Regarding WeWork, add Theranos, Enron, Boeing, Uber and Lyft, and you can have a new season of "Dirty Money" on Netflix.


----------



## Cynergie (Apr 10, 2017)

jocker12 said:


> This has "Uber" written all over it.
> 
> 
> 
> ...


Yep. One of Masayoshi's top evil twin sibling portfolio draining investments is officially biting the dust. And when he finally manages to sever his paternal ties to them (by officially cashing out on WeWork), Uber will be f*cked. It's only a matter of time IMO. I pity anyone who genuinely believes in a long position (i.e. 10+ year) forecast investment on Uber.


----------



## Stevie The magic Unicorn (Apr 3, 2018)

A long position on uber?

The only long position i would take is betting on how LONG they last, my bet is 18 months


----------



## Cynergie (Apr 10, 2017)

jocker12 said:


> Please remember how this is the same company (with the same people) that are running their business consistent with the implementation of the self-driving cars.
> 
> Improving driver's rates and building a healthy relationship with their partners is a foreign concept to Uber and Lyft alike.
> 
> ...


To this I'd add one more thing: limit the Uber app to a set number of drivers in the pool for each given market globally. As the number of Uber drivers in any given market approaches infinity, the cost of pax fares approaches zero.

As fares get cheaper and cheaper due to market over saturation with drivers (NYC, San Francisco/Bay Area epitomize this), driver profits will head to zero. Just like where UberEats is headed to date. Which means the driver base hourly rate/profit and quality of life will also go to zero (if quality of life is a thing that even exists). Because at this theoretical limit, Uber would have 100% of its global driver base working as indentured servants/slaves/serfs for free. But even with the advantage of this complete revenue monopoly, it's questionable whether Uber could still break even and get a positive EPS. Particularly given the magnitude of all its frivolous R&D/Engineering cost necessary to maintain its flying pig farms. Which appears to be the carrot and stick strategy they use to keep their investor base engaged in order to sustain their Ponzi scheme to date.



Stevie The magic Unicorn said:


> A long position on uber?
> 
> The only long position i would take is betting on how LONG they last, my bet is 18 months


So a Master's degree program aka 2 pregnancies to term then? I'm willing to take you up on that bet :laugh:


----------



## goneubering (Aug 17, 2017)

Aneed Momoney said:


> *Nine Months Ended September 30,**2018**2019**Cash flows from operating activities*Net income (loss) including non-controlling interests$1,876$(7,421)Adjustments to reconcile net income (loss) to net cash used in operating activities:Depreciation and amortization317371Bad debt expense3579Stock-based compensation1454,353Gain on extinguishment of convertible notes and settlement of derivatives-(444)Gain on business divestitures(3,208)-Deferred income tax420(55)Revaluation of derivative liabilities491(58)Accretion of discount on long-term debt23180Payment-in-kind interest5310Loss on disposal of property and equipment6314Impairment on long-lived assets held for sale122-Loss from equity method investment3225Gain on debt and equity securities, net(1,984)(1)Non-cash deferred revenue-(39)Gain on forfeiture of unvested warrants and related share repurchases(152)-Unrealized foreign currency transactions54(16)Other718Change in operating assets and liabilities, net of impact of business acquisitions and disposals:Accounts receivable(359)(342)Prepaid expenses and other assets(421)(467)Operating lease right-of-use assets-135Accounts payable(66)(23)Accrued insurance reserve763356Accrued expenses and other liabilities721997Operating lease liabilities-(94)Net cash used in operating activities(860)(2,522)*Cash flows from investing activities*Proceeds from insurance reimbursement, sale and disposal of property and equipment32941Purchase of property and equipment(362)(406)Purchase of equity method investments(412)-Investments in debt securities(30)-Proceeds from business disposal, net of cash divested-293Acquisition of businesses, net of cash acquired(64)(7)Net cash used in investing activities(539)(79)*Cash flows from financing activities*Proceeds from issuance of common stock upon initial public offering, net of offering costs-7,973Taxes paid related to net share settlement of equity awards-(1,514)Proceeds from issuance of common stock related to private placement-500Proceeds from issuance of subsidiary preferred stock units-1,000Proceeds from exercise of stock options, net of repurchases265Repurchase of outstanding shares(10)-Issuance of term loan and senior notes, net of issuance costs1,4781,189Principal repayment on term loan(12)(20)Principal repayment on revolving lines of credit(491)-Principal payments on capital and finance leases(59)(120)Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs1,250-Dissolution of joint venture and subsequent proceeds38-Other(57)9Net cash provided by financing activities2,1639,022Effect of exchange rate changes on cash and cash equivalents, and restricted cash and cash equivalents(133)(23)Net increase in cash and cash equivalents, and restricted cash and cash equivalents6316,398*Cash and cash equivalents, and restricted cash and cash equivalents*Beginning of period5,8288,209Reclassification from assets held for sale during the period5434End of period, excluding cash classified within assets held for sale$6,513$14,641*Reconciliation of cash and cash equivalents, and restricted cash and cash equivalents to the condensed consolidated balance sheets*Cash and cash equivalents$4,756$12,650Restricted cash and cash equivalents-current21433Restricted cash and cash equivalents-non-current1,5431,958*Total cash and cash equivalents, and restricted cash and cash equivalents*$6,513$14,641*Supplemental disclosures of cash flow information*Cash paid for:Interest, net of amount capitalized$83$213Income taxes, net of refunds213105Non-cash investing and financing activities:Conversion of redeemable convertible preferred stock to common stock upon initial public offering-14,224Conversion of convertible notes to common stock upon initial public offering-4,229Changes in purchases of property, equipment and software recorded in accounts payable and accrued liabilities(9)13Financed construction projects135-Capital and finance lease obligations132196Settlement of litigation through issuance of redeemable convertible preferred stock250-Common stock issued in connection with acquisitions93-Ownership interest in MLU B.V. received in connection with the disposition of Uber Russia/CIS operations1,410-Grab debt security received in exchange for the sale of Southeast Asia operations2,275-
> *Other Income (Expense), Net*
> 
> The following table presents other income (expense), net (in millions):
> ...


Closed at $29.46 today. Not finished. Not even close to being finished.



Stevie The magic Unicorn said:


> A long position on uber?
> 
> The only long position i would take is betting on how LONG they last, my bet is 18 months


Mark your calendar.


----------



## Aneed Momoney (Apr 3, 2017)

goneubering said:


> Closed at $29.46 today. Not finished. Not even close to being finished.
> 
> 
> Mark your calendar.


Mark if for what Dara


----------



## goneubering (Aug 17, 2017)

Aneed Momoney said:


> Mark if for what Dara


Oh that's cute. 

I say Uber stock is worth $5 a share and you call me Dara. Goodbye.


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## Cold Fusion (Aug 28, 2019)

Aneed Momoney said:


> Mark if for what Dara


Analysts are starting to believe Uber has bottomed and is headed for a big 2020
https://www.cnbc.com/2019/11/22/ana...as-bottomed-and-is-headed-for-a-big-2020.html


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## Stevie The magic Unicorn (Apr 3, 2018)

Cold Fusion said:


> Analysts are starting to believe Uber has bottomed and is headed for a big 2020
> https://www.cnbc.com/2019/11/22/ana...as-bottomed-and-is-headed-for-a-big-2020.html


well see what happens on the first of the year when Uber fails to comply with ab1. (And the legal fallout(

then we shall see what happens when they report their next quarterly financials.

Im personally going to prepare another short position on December 31st into jan1.

and another one the day before Uber's financials are due.


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## peteyvavs (Nov 18, 2015)

goneubering said:


> There's almost always more than two options in any situation. I expect Dara will get the Titanic Uber turned around before it hits an iceberg but I could be wrong.


Could be wrong, most definitely wrong, Dara is the problem.


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## Stevie The magic Unicorn (Apr 3, 2018)

I’m personally believing that Dara is a true believer in the BS.

their will always be true believers who think the company line is reality? As hilarious as I think it is.

Either that or he’s pissing money down the drain to prop the stocks out of desperation/ a promise of a bonus.

when the smoke clears from the dumpster fire caller Uber, there will be true believers standing around penniless, also known as patsies.


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## Cynergie (Apr 10, 2017)

Stevie The magic Unicorn said:


> well see what happens on the first of the year when Uber fails to comply with ab1. (And the legal fallout(
> 
> then we shall see what happens when they report their next quarterly financials.
> 
> ...


And there's the catch. Odds are there are hundreds of thousands of other pessimistic investors who'll be likely taking very short positions on Uber stock from now until end 1Q 20. From big whale hedge fund/independent investor/venture capitalists to small Joes like you. All of whom will be taking a Bearish gamble with Put options with their local stock broker.

The only thing you can predict with complete certainty about the market, is its completely unpredictable fluidity. So that which doth stay down will likely go back up. The million dollar question is when to exercise that timely, lucrative Put option with your broker. Before some other rogue stock broker or Bullish karma strategizes on a way to use the Rumor Mill to drive Uber stock prices above the strike price into the stratosphere. Which is exactly what the Bullish investors would be hoping for, so they can exercise and profit from their optimistic short and call options come Jan 2nd.

All it would take is an engineered coup by stockbroker/hedge fund players on Wall Street to succeed (or fail) in spreading propaganda about Uber's profitability/sustainability before the markets close on Tuesday, Dec 31. Which would affect the more skittish whale investors who're highly reactionary by nature to any favorable/negative Uber news. Leave New Year's day (which being smack dab in the middle of the week) to torture said skittish investors and their Put/Call day trader minions. Then rinse and repeat the same racket as soon as the markets open on Thursday Jan 2. Anyone whose Call strategy failed on Dec 31st is likely going to be obsessed with any news that would favorably drive the market trend up in Uber stock price. And the exact opposite for bearish investors gambling with their Put strategies.

The only ppl who'll be guaranteed windfall payouts from Dec 31 to Jan 2nd will be the #yoloswag playas Lady Fortune decides to favor. And if she dictates a negative trend, then Uber's most pessimistic investors (i.e. the lucky bear stock brokers, hedge fund managers, venture capitalists, independent and other small time investors the likes of average Joes like you) will win big. *As long as Uber's stock price remains below whatever the Put option strike price you and other Bearish investors decide on during this time that is. Because a lot can happen in 72 hours*......

Whichever trend the market takes on Uber's market position during this time, you'd better believe it's going to be a manufactured market one. And one that will likely result in an extreme upswing/downswing lasting for an very limited time. Because I'm betting all that feverish investor speculation will likely be over come Jan 2nd. And suspect Uber's stock will end up being worse off, and continue it's inevitable downward performance trend after that.


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## Cynergie (Apr 10, 2017)

goneubering said:


> Closed at $29.46 today. Not finished. Not even close to being finished.
> 
> 
> Mark your calendar.


I did. And this post for future reference. When I revisit it after reviewing Uber's market position at end 1Q 20. :smiles:


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## RaleighUber (Dec 4, 2016)

Aneed Momoney said:


> Increased revenue but bigger losses( like I showed) means it's insolvent.


Uber has often increased revenue and has NEVER shown a profit in any quarter it has operated. Nothing new. They have billions of cash to burn through before they go belly up.


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## Stevie The magic Unicorn (Apr 3, 2018)

RaleighUber said:


> Uber has often increased revenue and has NEVER shown a profit in any quarter it has operated. Nothing new. They have billions of cash to burn through before they go belly up.


I thought they had A(single) profitable quarter after selling out in india and getting a payday from closing up shop?


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## goneubering (Aug 17, 2017)

Stevie The magic Unicorn said:


> I thought they had A(single) profitable quarter after selling out in india and getting a payday from closing up shop?


Uber's still in India. Are you thinking of when they left China? I don't remember any quarter they made a profit but I guess it's possible.


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## troothequalstroll (Oct 12, 2019)

Stevie The magic Unicorn said:


> I thought they had A(single) profitable quarter after selling out in india and getting a payday from closing up shop?


they are 20 billion in the hole, 1 quarter would mean 19,999,900 billion before they break even lmao

its a ponzi scam they no care about profits the top is profiting immensley from human trafficking & money laundering


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## Stevie The magic Unicorn (Apr 3, 2018)

Quarter 1 2018, A profitable quarter with an asterisk

Includes a one time gain of 2.9 billion from selling it's southeast Asia business to Grab and merging it's Russian business with Yandex.

India, Southeast Asia....

Pretty closish for an american guessing.


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## MarkR (Jul 26, 2015)

kingcorey321 said:


> only thing i want to add is i hope they close uber at the end of this year


I hope NOT. Much cheaper than taking a cab. Then again there is lyft. They offer more incentives to passengers than Uber does. But still cheaper than a cab.


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## Cynergie (Apr 10, 2017)

goneubering said:


> Uber's still in India. Are you thinking of when they left China? I don't remember any quarter they made a profit but I guess it's possible.


most likely with the likes of global/multinational corp Didi which now owns Uber China


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## troothequalstroll (Oct 12, 2019)

MarkR said:


> I hope NOT. Much cheaper than taking a cab. Then again there is lyft. They offer more incentives to passengers than Uber does. But still cheaper than a cab.


It's cheaper because it's illegal wages & predatory prices real businesses can compete because they can't sell services at a loss

An employee gets fired for refusing to work for free or cancelling an employee accepts blank contracts that defraud them into working for free.

An "Independent Contractor" HAS the rights to the details of their contract BEFORE having to accept it & be bound by it & no one can fire you for refusing to provide free labor so cancel rate deactivations make drivers employees among a thousand other labor law they violate mislabeling labor.


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## Cold Fusion (Aug 28, 2019)

troothequalstroll said:


> It's cheaper because it's illegal wages


"Illegal Wages" paid to whom? Independent Contractors?


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## goneubering (Aug 17, 2017)

Cynergie said:


> The frightening part is CalPERS has been one of the worst, broke, and mismanaged state depts. Which has been assessed incapable of its future ability to support all CA state worker retirement plans.
> 
> Long, long before they pulled this insane gambling stunt....
> 
> ...


https://finance.yahoo.com/news/were-hedge-funds-souring-uber-230203436.html
Among these funds, Viking Global held the most valuable stake in Uber Technologies, Inc. (NYSE:UBER), which was worth $441.8 million at the end of the third quarter. On the second spot was Altimeter Capital Management which amassed $426.6 million worth of shares. Hillhouse Capital Management, Coatue Management, and Glade Brook Capital Partners were also very fond of the stock, becoming one of the largest hedge fund holders of the company. In terms of the portfolio weights assigned to each position Hoplite Capital Management allocated the biggest weight to Uber Technologies, Inc. (NYSE:UBER), around 100% of its portfolio. Glade Brook Capital Partnersis also relatively very bullish on the stock, setting aside 67.08 percent of its 13F equity portfolio to UBER.


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## UberPuppetGirl (Jul 6, 2019)

Great Statement
Now explain the facts in writing.
That is always the hard part.

No one could do it.
So give up now.


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## got a p (Jan 27, 2018)

Stevie The magic Unicorn said:


> I'm personally believing that Dara is a true believer in the BS.
> 
> their will always be true believers who think the company line is reality? As hilarious as I think it is.
> 
> ...


i feel like dara has very bad karma, and karma is a *****. he's got some bad stuff coming his way, no doubt about it.

forget fines i want a bona fide whistleblower and whitecollars in prison.


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## troothequalstroll (Oct 12, 2019)

got a p said:


> i feel like dara has very bad karma, and karma is a @@@@@. he's got some bad stuff coming his way, no doubt about it.
> 
> forget fines i want a bona fide whistleblower and whitecollars in prison.


Wish I had such bad karma that comes with a 50+ million dollar salary & millions of shares regardless of their value now in the 20s

Never understood the karma thing I'm all about positive thinking, putting back more than you take & good deeds but it's always people wishing bad karma when slighted like what bad thing did you do to receive your bad luck lol to wish it upon someone who just did you wrong?

Anyone willing to risk 500 million could bury Uber Lyft in a month and in a year be making a million dollars a day profit which used to be considered good business lol

Not rocket science 1 million rides a day $1 profit each, drivers get paid legal wages

Uber Lyft do 20+ million rides a day half of those go back to the bus so the market is around 10 million rides per day so focus on just 10% if that and scale to a million rides per day

But you need to burn a couple hundred mil marketing so people hear about you, drivers will flee Uber Lyft & a couple hundred mil to insure the rest is pretty trivial pax & drivers are paying operating costs while you scale, Amazon servers & app are trivial & 3 employees per state would be fine to manage around 1000 drivers per state that you'd cap at of course based on population some states get more


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## goneubering (Aug 17, 2017)

Stevie The magic Unicorn said:


> A long position on uber?
> 
> The only long position i would take is betting on how LONG they last, my bet is 18 months


18 months isn't a good bet. Have you seen Uber's stock price recently?


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