# Uber a 'Ponzi' scheme that will be bankrupt in decade claims fund manager



## Brooklyn (Jul 29, 2014)

https://www.rt.com/business/389541-uber-ponzi-scheme-investor/

Hamish Douglass, CEO, CIO and Lead Portfolio Manager of the Magellan Financial Group with more than $37 billion under management gives Uber less than a one percent chance of survival in the next ten years.


----------



## Buckiemohawk (Jun 23, 2015)

Like this hasn't been said before. At no point are they even profitable.


----------



## Mars Troll Number 4 (Oct 30, 2015)

If uber's business model was truly any good they would need the following 3 things to happen.

1. Profit
2. Happy (profit earning) drivers
3. Customers willing to use their service (not happy with the price mind you, just willing to use the service)


Taxi companies always used to meet these 3 goals, barely...


2/3 is what was happening in the GOOD year that uber was around.d

Now they are rapidly approaching only one of these



If uber pounds out a profit by stomping drivers into the ground, their driver retention problem will spiral out of control, leaving uber with customers who demand cheap rides... or more simply put nothing.


The taxi industry figured it out a long time ago,

A sucky job for immigrants and other vagabonds,
Prices the customers accept but arn't happy with
Profit

VS
A money loosing situation for suckers
Happy customers
Losing money for yourself



Which do you think will last the test of time?


The taxi industry will remember these days as dark times, but we will also be able to point to them as reasons why we charge so much in the first place, and that you can't put 400,000 miles on a car without it turning into a fugly smelly taxi


----------



## Maven (Feb 9, 2017)

Brooklyn said:


> Uber a 'Ponzi' scheme that will be bankrupt in decade claims fund manager
> https://www.rt.com/business/389541-uber-ponzi-scheme-investor/
> Hamish Douglass, CEO, CIO and Lead Portfolio Manager of the Magellan Financial Group with more than $37 billion under management gives Uber less than a one percent chance of survival in the next ten years.


Wishful thinking. Uber thrives on chaos and disruption, skating along the cracks in the law in a way that most current business leaders simple envy without understanding. See https://uberpeople.net/threads/secrets-of-ubers-success.167285/


Mears Troll Number 4 said:


> If uber's business model was truly any good they would need the following 3 things to happen. .1. Profit, .2. Happy (profit earning) drivers, .3. Customers willing to use their service (not happy with the price mind you, just willing to use the service)...


Unfortunately, Uber has repeatedly proven that they do not need #1 or #2 as long as they have #3. BTW, customer's L-O-V-E the prices (compared to taxis) so much that they keep returning even though Uber has increased prices not once, but several times over the last year.


----------



## uberdriverfornow (Jan 10, 2016)

This guy must have seen my posts.


----------



## Jesusdrivesuber (Jan 5, 2017)

They mismanage their earnings, how can you make 6-7 billion a year and spend so much?

Shitty infrastructure, that's how.

Uber is suffering from an ailment that hits every single company that grew too big too fast.


----------



## uberdriverfornow (Jan 10, 2016)

Jesusdrivesuber said:


> They mismanage their earnings, how can you make 6-7 billion a year and spend so much?


It's simple, charge a far below market equilibrium price for its product.

Then slowly raise the "booking fee(aka 'Tip for Uber')" so that you have low prices but larger share of the pie for Uber. Not realizing your throwing away all your profit by offering too low of rides and never able to make up for it by simply raising the Tip for Uber.


----------



## TheFixer1 (Jan 29, 2017)

Travis after it all implodes


----------



## SEAL Team 5 (Dec 19, 2015)

Brooklyn said:


> management gives Uber less than a one percent chance of survival in the next ten years.


So you're saying not to buy a new car and spend my money on Powerball tickets?


----------



## TheFixer1 (Jan 29, 2017)

SEAL Team 5 said:


> So you're saying not to buy a new car and spend my money on Powerball tickets?


Yes


----------



## Maven (Feb 9, 2017)

SEAL Team 5 said:


> So you're saying not to buy a new car and spend my money on Powerball tickets?


Shhhh! If you're not careful then you might give Uber the idea of paying us in Powerball tickets


----------



## everythingsuber (Sep 29, 2015)

Maven said:


> Shhhh! If you're not careful then you might give Uber the idea of paying us in Powerball tickets


Complete with the "Make Millions Driving For Uber " advertising campaign.


----------



## tohunt4me (Nov 23, 2015)

Jesusdrivesuber said:


> They mismanage their earnings, how can you make 6-7 billion a year and spend so much?
> 
> Shitty infrastructure, that's how.
> 
> Uber is suffering from an ailment that hits every single company that grew too big too fast.


Recruiting drivers who cant afford to SUBSIDISE UBER any longer !

NO NEED TO TIP !


----------



## SEAL Team 5 (Dec 19, 2015)

everythingsuber said:


> Complete with the "Make Millions Driving For Uber " advertising campaign.


The legality with that phrase must be changed to "MAKE up to MILLIONS DRIVING FOR UBER". Now Uber can still encompass the ignorant while not misrepresenting themselves. Isn't minimum wage "up to MILLONS"?


----------



## fxcruiser (Apr 17, 2014)

Driving for scrUber ; Absolutely, Automatically IS Stupid....Be sTupid, Be scrUber.....BE BROKE!! Get a Life Sportsfans!!


----------



## Mars Troll Number 4 (Oct 30, 2015)

The odds of winning a roulette spin is 2.7%

the odds of making money on an uberX fare in orlando without a surge- 0%


----------



## Oscar Levant (Aug 15, 2014)

Brooklyn said:


> https://www.rt.com/business/389541-uber-ponzi-scheme-investor/
> 
> Hamish Douglass, CEO, CIO and Lead Portfolio Manager of the Magellan Financial Group with more than $37 billion under management gives Uber less than a one percent chance of survival in the next ten years.


I'd be surprised if Uber lasts another two years.


----------



## El Cemento (Apr 25, 2017)

Ha! Run out of drivers? Never.


----------



## Certain Judgment (Dec 2, 2016)

The promos they offer are killing the company. If they just worked a little harder at keeping the drivers they already have, they would not need to offer $1000 signing bonuses and the like.


----------



## _McUber_ (Jul 27, 2016)

Brooklyn said:


> https://www.rt.com/business/389541-uber-ponzi-scheme-investor/
> 
> Hamish Douglass, CEO, CIO and Lead Portfolio Manager of the Magellan Financial Group with more than $37 billion under management gives Uber less than a one percent chance of survival in the next ten years.


Hamish Douglass is overly optimistic. 1% is too much. A decade is way too too long.



El Cemento said:


> Ha! Run out of drivers? Never.


Maybe not. But the lie won't go on forever.


----------



## Wil_Iam_Fuber'd (Aug 17, 2015)

Yawn. I agree with Douglas' opinion in principle and have been stating so here for well over a year. But one would think a Portfolio Manager of $37B would have a number or two to help make his case. Let's see an analysis please...just a little taste at least, sheesh. What a crappy article.



TheFixer1 said:


> View attachment 123612
> Travis after it all implodes
> 
> View attachment 123611


Probably not. His paper "stock" valued currently at $68B goes to zero in a Ch. 11. Sure, he's taking a salary from his cash flow that his Investors sign off on, but probably only a 7 figure pay check.

It's conceivable that GS or someone collared his private equity position, but I'd think those assets would also be vulnerable. Idk, not a lawyer, but I think he ends up broke.

Unless he's been funneling cash to hidden accounts, which is entirely consistent with his personality and mores (or lack thereof) .

On third thought, you're probably right. Mf'er is gonna be rolling in it regardless. Why wasn't he on that boat?


----------



## Uberdriverlasvegas (May 3, 2017)

Brooklyn said:


> https://www.rt.com/business/389541-uber-ponzi-scheme-investor/
> 
> Hamish Douglass, CEO, CIO and Lead Portfolio Manager of the Magellan Financial Group with more than $37 billion under management gives Uber less than a one percent chance of survival in the next ten years.


"UBER" isn't going anywhere. The current CEO and other c-level execs will likely be ousted at some point and time, but the company itself will survive or be acquired by another company.


----------

