# Uber has burned $29,000,000,000 of investors money.



## Mole (Mar 9, 2017)

Uber is nearing the point of no return burning through cash because they have below cost rates and refuse yes refuse to be viable.









Uber Revenue and Usage Statistics (2023)


Uber kickstarted the evolution of the taxi market in the early 2010s, when it launched an app which easily connected drivers with riders. In California where the app launched, ordering a cab was a nightmare, so much so that co-founder Garrett Camp had established his own fleet of black cabs to...




www.businessofapps.com


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## SHalester (Aug 25, 2019)

Uber, which still has several billion in cash and near cash in the bank isn't going anywhere just yet. I see a Uber/Lyft merger of un-equals happening at some point first.


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## Mole (Mar 9, 2017)

SHalester said:


> Uber, which still has several billion in cash and near cash in the bank isn't going anywhere just yet. I see a Uber/Lyft merger of un-equals happening at some point first.


They may stay afloat but how are they going to make back the 29B? Not a easy task plus with the Dens running the show now their cost are going to go up. It will be interesting to watch.


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## SHalester (Aug 25, 2019)

Mole said:


> They may stay afloat but how are they going to make back the 29B?


Ask Amazon how they did it.


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## SpinalCabbage (Feb 5, 2020)

They have no viable plan to attain profitability. The are the underpants gnomes of the stock market.


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## Mole (Mar 9, 2017)

SHalester said:


> Ask Amazon how they did it.


They were making money pretty early in the game yes?


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## SHalester (Aug 25, 2019)

Mole said:


> They were making money pretty early in the game yes?


no quite the opposite. Took 9 years to just break even. So Uber is somewhat behind. But the talk of amazon going under was LOUD in the first few years it was created. And looky now...


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## Mole (Mar 9, 2017)

SHalester said:


> no quite the opposite. Took 9 years to just break even. So Uber is somewhat behind. But the talk of amazon going under was LOUD in the first few years it was created. And looky now...


9 years to break even is a big difference from 11 years and still losing money.


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## UberPotomac (Oct 8, 2016)

Guys , somebody is making money here. 
They screwing driver and investors .
I assure you UBER is not charity.


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## kingcorey321 (May 20, 2018)

Interesting . So with the market coasting up. 
It will trend higher for another 12 months . TIP . The feds will not touch the interest rates right now .
In 12 months they may raise them a quarter percent . This will have some effect on selling . 
Once the market starts to come down where it belongs none of these false highs were seeing now .
Uber will be in a shit load of trouble . Watch uber get toasted .


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## Taxi2Rideshare (May 17, 2018)

UberPotomac said:


> Guys , somebody is making money here.
> They screwing driver and investors .
> I assure you UBER is not charity.


This is not always the case.

Think about "the winner's curse" in Uber's pricing structure where any revenue is better than lost revenue. Unlike products that can be inventoried, rideshare bookings is lost revenue if uncollected. This explains why Uber matches drivers with riders that are 5-20 miles away with disregard for drivers' gas or operational expenses -worse yet is losing revenue to its competitors.

Ultimately, the winner's curse explains Uber's dirt cheap pricing since time and operational resources are shouldered by the driver, which Uber places little to no value. Think about it, if drivers, who really value their time and equipment, set pricing, would their pricing structure be as low as Uber's?

Like in any unbalanced financial transaction, you have winners and losers. In Uber's business model, because Uber is not making any money, the winners here are the riders at the expense of drivers.


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## Mole (Mar 9, 2017)

Taxi2Rideshare said:


> This is not always the case.
> 
> Think about "the winner's curse" in Uber's pricing structure where any revenue is better than lost revenue. Unlike products that can be inventoried, rideshare bookings is lost revenue if uncollected. This explains why Uber matches drivers with riders that are 5-20 miles away with disregard for drivers' gas or operational expenses -worse yet is losing revenue to its competitors.
> 
> ...


Damn strait.


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## UberPotomac (Oct 8, 2016)

I don’t buy they lose money . I think they is much “ creative accounting “ there


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## Taxi2Rideshare (May 17, 2018)

UberPotomac said:


> I don’t buy they lose money . I think they is much “ creative accounting “ there


I like the way you think, but most of Uber's founding staff is gone. Who will its creative accounting benefit? Its shareholders? TK saw a sinking ship and cashed-out years ago.

I considered doing a piece covering Uber's financials, which will benefit the community. With so much free time, I just might do an unfiltered brief of Uber's upcoming earnings release. That way you get a complete picture instead of the rosy media coverage pushed by institutions.

Much of those cash flows go toward legal, which the media hardly ever mentions.


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## Bojingles (Sep 18, 2015)

I'm thinking uber is a dump and pump house of cards for the elite. Major write offs to hide earnings


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## Bojingles (Sep 18, 2015)

If they owned the cars they would be bankrupt or definitely raise rates taxi rates


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## Mole (Mar 9, 2017)

In the future they want to own or lease driverless cars that cost 125k each and cost $250 a hour to work on and maintain and may cause more problems then drivers.


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## tohunt4me (Nov 23, 2015)

Taxi2Rideshare said:


> I like the way you think, but most of Uber's founding staff is gone. Who will its creative accounting benefit? Its shareholders? TK saw a sinking ship and cashed-out years ago.
> 
> I considered doing a piece covering Uber's financials, which will benefit the community. With so much free time, I just might do an unfiltered brief of Uber's upcoming earnings release. That way you get a complete picture instead of the rosy media coverage pushed by institutions.
> 
> Much of those cash flows go toward legal, which the media hardly ever mentions.


Travis could have bilked private investors for another 3 years !
They went public too soon !


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## SHalester (Aug 25, 2019)

Mole said:


> 9 years to break even is a big difference from 11 years and still losing money.


no. that is not a big difference. 2 years? Plus, Amazon had stuff consumers really really wanted in high percentages. RS only wishes it did.


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## The Entomologist (Sep 23, 2018)

SpinalCabbage said:


> They have no viable plan to attain profitability. The are the underpants gnomes of the stock market.


Yeah, it's pure failure at this point...

Has anyone seen how they are reporting the taxes now? Lyft was letting you see they were taking about 70% of the "gross" while you kept 30%, a friend told me.

If even by doing that, they are losing money, then axe the parasite.


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## goneubering (Aug 17, 2017)

Mole said:


> In the future they want to own or lease driverless cars that cost 125k each and cost $250 a hour to work on and maintain and may cause more problems then drivers.


That’s a fantasy. It might have helped pump up Uber’s stock price but it’s not going to happen in the real world.


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## Mole (Mar 9, 2017)

goneubering said:


> That’s a fantasy. It might have helped pump up Uber’s stock price but it’s not going to happen in the real world.


Agreed.


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