# Does everyone understand that Uber is failing and can't last?



## Hogg (Feb 7, 2016)

It would be a lot easier for me to be mad at them if they weren't losing record amounts of money.

Uber is currently losing about $10 million every day, in addition to all the revenue they generate. Not just spending $10 million, but their bank account has ten million less dollars in it every morning when they wake up. They posted a loss of around $3.5 Billion in 2016. They are down over $40 billion in the seven years they have been operating. I have never heard of a company losing so much so fast, I think it could be a world record. You could almost outright buy the whole Ford Motor Company with the money Uber has lost.

This is clearly not sustainable and they are heading towards bankruptcy. They could be closed less than 18 months from now.

What doesn't make sense to me is why they would keep losing money like this. Not to mention spending more money to export an unprofitable business model to new markets. They lose money on most trips and every new user they sign up for the platform accelerates their losses.

Even if they became profitable tomorrow they have a $40 Billion loss to recover from, how long will that take, decades? Not to mention that every day they are digging that hole another $10 million deeper.

My theory it that Travis and the other execs know this and are drawing as much salary between now and the failure of the company as they can. That's probably where a large chunk of that $10 million per day is going.

Its time to start looking for another job, or at least thinking about what life is going to look like after Uber collapses. Uber even acknowledged in a press release that there won't be drivers in the future, they would either be automated or out of business.


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## tohunt4me (Nov 23, 2015)

Get out there and REVENUE !


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## Bluecrab (Oct 3, 2016)

While Uber has a reported valuation of $60Billion, I believe the amount of funding they received was around $13Billion. 

Where are you getting the dollars lost as $40B? 

With the new pricing structure I'd wager U.S. Operations will show profit for 2017.


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## Lee239 (Mar 24, 2017)

Bluecrab said:


> While Uber has a reported valuation of $60Billion, I believe the amount of funding they received was around $13Billion.
> 
> Where are you getting the dollars lost as $40B?
> 
> With the new pricing structure I'd wager U.S. Operations will show profit for 2017.


Because they have lost a lot of money that they have taken in as revenue.

Here is something else to keep in mind. Just a 2 to 3% "accounting error" in NYC cost them up to $45 million. Imagine if they have to repay every driver worldwide for all the over charges that they have been doing up to this last addendum? There would be no way for them to recover, or if there was some other 2 or 3% that affected every driver. You know they are cheating and stealing all they can and cheating drivers routinely on tolls and then just closing the cases.

They claim to be worth over $60 billion but that's just on paper. They have no assets, the driver are their assets and they can lose them and are losing many. Right now should be the high point of their driver base and they are treating drivers like garbage and cheating them by overcharging pax and paying drivers the base rate.

Something is really wrong if they can't even approach an IPO because their finances are so bad.

I pray Travis will end up in jail when this is all said and done.

I don't understand who they are not making money. They spend no money on cars, no money on gas and no real money on labor, they just pay the drivers a portion of the earnings from a ride. Taxi companies have made profits for decades with higher rates, but much higher costs too.


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## tohunt4me (Nov 23, 2015)

Bluecrab said:


> While Uber has a reported valuation of $60Billion, I believe the amount of funding they received was around $13Billion.
> 
> Where are you getting the dollars lost as $40B?
> 
> With the new pricing structure I'd wager U.S. Operations will show profit for 2017.


Cook the books until spam looks like steak !


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## Disgusted Driver (Jan 9, 2015)

I don't think they have lost anything close to 40b. Regardless I have no sympathy for them and wish them well in their demise.
4 big mistakes:

Total lack of ethics. An anything goes culture works for a while but eventually catches up with you.
Trying to be all things to all customers. They have ruined the Uber brand. It used to be a fast clean safe ride for less than a taxi. Now we are replacing the bus and select has been watered down nevermind the x rides out there now
Self driving cars to the rescue. Maybe but not by you. It's a completely different capital intensive business with a different set of rules nevermind it isn't going to be here in 5 years, 15 maybe but not 5.
Total contempt for their workforce. How many different ways can they say fu to their drivers. Steal fares, no tips, lie to them, don't train, misinformation,... don't need to go on, you all know the deal. 
I don't think they are going to last long either, at least I hope not.


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## jonhjax (Jun 24, 2016)

40 billion is an exaggeration. However investors money subsidizes 59% of every fare. That's the equivalent of a 2.5x surge. I think when uber realized they had to charge near taxi rates to be profitable they decided to lower rates to dirt cheap and drive as many competitors out of business as possible. It's taking a little longer than they thought and if uber doesn't get an ipo in the next couple of years they'll have to make some tough business decisions.


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## TwoFiddyMile (Mar 13, 2015)

Bluecrab said:


> While Uber has a reported valuation of $60Billion, I believe the amount of funding they received was around $13Billion.
> 
> Where are you getting the dollars lost as $40B?
> 
> With the new pricing structure I'd wager U.S. Operations will show profit for 2017.


Oh I'll bet $13 billion against that, buddy.
I'm good for it.


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## steveK2016 (Jul 31, 2016)

This is all by design. They know they can forward these net operating loss for up to 20 years.

They are burning through the cash to solidify the market. Soon they will lock down customer support and their weakness at refunding and crediting on minor complaints. Prices will increase and driver subsidies with stop. There will be enough drivers that will take any pay. Theyll begin to be profitable and not have to pay taxes until They run out of their NOL credit.

Drop an IPO and theyre good to go.


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## Atom guy (Jul 27, 2016)

As much as Uber wants to think that it is revolutionizing something, their business model is exactly the same as VISA and MasterCard - facilitate payment between buyer and seller, take a small cut of the transaction. That's IT. Travis and the gang think they are disruptors, and are wasting time and energy on autonomous cars (instead of just buying them from an automaker when the time comes), flying cars, and skirting the laws in countless jurisdictions (wasting time and money on all the lawsuits). 

Uber went from hip cool thing to do to hated evil corporation in about 12 months time, all due to the idiotic actions of its management team, Uber desperately needs a seasoned CEO to just run the business. it's not that hard.


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## Lee239 (Mar 24, 2017)

steveK2016 said:


> This is all by design. They know they can forward these net operating loss for up to 20 years.
> 
> They are burning through the cash to solidify the market. Soon they will lock down customer support and their weakness at refunding and crediting on minor complaints. Prices will increase and driver subsidies with stop. There will be enough drivers that will take any pay. Theyll begin to be profitable and not have to pay taxes until They run out of their NOL credit.
> 
> Drop an IPO and theyre good to go.


Trust me they are burning thru drivers almost as fast as millions. Their retention rate is 4% and only going to get worse as they let the pax become more demanding and worse behaving and lower surges in busy market and have too many ants on the road. They will run out of drivers and will only keep those desperate enough to need their payday loan scam.


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## Atom guy (Jul 27, 2016)

steveK2016 said:


> This is all by design. They know they can forward these net operating loss for up to 20 years.
> 
> They are burning through the cash to solidify the market. Soon they will lock down customer support and their weakness at refunding and crediting on minor complaints. Prices will increase and driver subsidies with stop. There will be enough drivers that will take any pay. Theyll begin to be profitable and not have to pay taxes until They run out of their NOL credit.
> 
> Drop an IPO and theyre good to go.


The problem with this theory is that there are NO barriers to entry for new competitors, so Uber is never going to be able to wipe out everyone and then raise rates. It would take a hot minute for a new startup to create an app and get to market if Uber raises fares too much.


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## Lee239 (Mar 24, 2017)

Atom guy said:


> The problem with this theory is that there are NO barriers to entry for new competitors, so Uber is never going to be able to wipe out everyone and then raise rates. It would take a hot minute for a new startup to create an app and get to market if Uber raises fares too much.


All you need is Google or Amazon to start a fair rideshare service that appreciated the driver and understands that tips keep drivers happy and Uber will be toast. If all the drivers abandon Uber then the pax will too because no one will drive for them.


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## TwoFiddyMile (Mar 13, 2015)

Lee239 said:


> Trust me they are burning thru drivers almost as fast as millions.  Their retention rate is 96% and only going to get worse as they let the pax become more demanding and worse behaving and lower surges in busy market and have too many ants on the road. They will run out of drivers and will only keep those desperate enough to need their payday loan scam.


I think you meant ATTRITION rate not retention...


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## Disgusted Driver (Jan 9, 2015)

steveK2016 said:


> This is all by design. They know they can forward these net operating loss for up to 20 years.
> 
> They are burning through the cash to solidify the market. Soon they will lock down customer support and their weakness at refunding and crediting on minor complaints. Prices will increase and driver subsidies with stop. There will be enough drivers that will take any pay. Theyll begin to be profitable and not have to pay taxes until They run out of their NOL credit.
> 
> Drop an IPO and theyre good to go.


That is certainly a possibility if they start executing correctly but I still see signs of add management, Now they are going into trucking. My fondest hope is that another company jumps in like Google but at this point drivers are screwed no matter what. So I'll bet you a nickel that uber is belly up within 4 years, you in?


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## Lee239 (Mar 24, 2017)

TwoFiddyMile said:


> I think you meant ATTRITION rate not retention...


Correct, I fixed it.


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## steveK2016 (Jul 31, 2016)

Disgusted Driver said:


> That is certainly a possibility if they start executing correctly but I still see signs of add management, Now they are going into trucking. My fondest hope is that another company jumps in like Google but at this point drivers are screwed no matter what. So I'll bet you a nickel that uber is belly up within 4 years, you in?


It would be interesting to see if google would jump on something like this.

Ill raise you a nickle that theyll be just fine, but travis will no longer be the CEO.


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## Disgusted Driver (Jan 9, 2015)

steveK2016 said:


> It would be interesting to see if google would jump on something like this.
> 
> Ill raise you a nickle that theyll be just fine, but travis will no longer be the CEO.


It's on!


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## villetta (Feb 11, 2016)

jonhjax said:


> 40 billion is an exaggeration. However investors money subsidizes 59% of every fare. That's the equivalent of a 2.5x surge. I think when uber realized they had to charge near taxi rates to be profitable they decided to lower rates to dirt cheap and drive as many competitors out of business as possible. It's taking a little longer than they thought and if uber doesn't get an ipo in the next couple of years they'll have to make some tough business decisions.


And that is a blatant violation of Fair Trade law. Or, just another violation notch for the Uber school of business ethics


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## R James (Apr 25, 2017)

Sure they may be losing money with every ride, but they're going to make it up on volume!


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## Atom guy (Jul 27, 2016)

R James said:


> Sure they may be losing money with every ride, but they're going to make it up on volume!


They are only losing this much money because they have to bribe drivers with incentives instead of just having livable fares in the first place.


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## Oscar Levant (Aug 15, 2014)

Hogg said:


> It would be a lot easier for me to be mad at them if they weren't losing record amounts of money.
> 
> Uber is currently losing about $10 million every day, in addition to all the revenue they generate. Not just spending $10 million, but their bank account has ten million less dollars in it every morning when they wake up. They posted a loss of around $3.5 Billion in 2016. They are down over $40 billion in the seven years they have been operating. I have never heard of a company losing so much so fast, I think it could be a world record. You could almost outright buy the whole Ford Motor Company with the money Uber has lost.
> 
> ...


If Uber collapses it will be either Lyft, Juno ( which I heard is coming to my town ) or Yellow Cab. Frankly, I wish all the rideshares would vanish, and then Yellow Cab would be a money maker at $3 per mile ( in my city ).


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## haji (Jul 17, 2014)

uber is not losing money with upfront pricing see the proof


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## Hogg (Feb 7, 2016)

I read they they started with about $50 billion in venture capital and had already used more than 80% of it.


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## Tnasty (Mar 23, 2016)

Getting rid of pool would help.


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## jonhjax (Jun 24, 2016)

Uber has skirted many laws at many levels. Just from their past actions in Florida they could've been investigated under the state's rico act, or at least that's what an attorney friend of mine told me. Add fair trade violations, that's another charge that can be added. Retention was the correct term Lee used. 96% of uber's drivers leave the company in less than one year. That's a 96%attrition rate. Also, the more fares uber completes at a loss, the more money they lose. The percentage that investors subsidize each fare might drop, however. They can't make a profit off a loss . Tax deductions , including carried over losses, decrease net profit or taxable income. They don't increase it. They can turn a profit into a net loss, though. I'm pretty sure about that last statement but there's a small chance I'm wrong about it.

Haji, your statement will still show a net loss for uber. To break even uber will have to charge approximately $92.00. The math I used was $37.03 × 2.5 = 92.575. That reflects a 59% subsidy by uber's investors.


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## Back it up Uber (Aug 1, 2016)

Oscar Levant said:


> If Uber collapses it will be either Lyft, Juno ( which I heard is coming to my town ) or Yellow Cab. Frankly, I wish all the rideshares would vanish, and then Yellow Cab would be a money maker at $3 per mile ( in my city ).


Juno sold out for $200 million to GETT so whoever told you they were coming to your area was wrong.

Even if rideshare disappeared yellow cab won't get the business. Their reputation has ruined for years. Riders that use rideshare are ones that didn't use taxis to begin with.



Lee239 said:


> All you need is Google or Amazon to start a fair rideshare service that appreciated the driver and understands that tips keep drivers happy and Uber will be toast. If all the drivers abandon Uber then the pax will too because no one will drive for them.


You mean like Juno did? Yet, they sold out as quickly as they could because they probably realized taking on 10% wasn't going to work. Plus, when they sold the company, drivers got pennies out of it when they were supposed to stock holders. There are tons of other rideshare apps out there that try to cater to drivers more but they just are not able to break through.


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## Carblar (Sep 1, 2016)

Back it up Uber said:


> Juno sold out for $200 million to GETT so whoever told you they were coming to your area was wrong.
> 
> Even if rideshare disappeared yellow cab won't get the business. Their reputation has ruined for years. Riders that use rideshare are ones that didn't use taxis to begin with.
> 
> You mean like Juno did? Yet, they sold out as quickly as they could because they probably realized taking on 10% wasn't going to work. Plus, when they sold the company, drivers got pennies out of it when they were supposed to stock holders. There are tons of other rideshare apps out there that try to cater to drivers more but they just are not able to break through.


Uber only survives because they were first and they have big time investor money. No one else can bleed away billions. It's a waiting game for them, offer rides so cheap no one else can compete and keep hiring new drivers with false hopes. It's a shell game really.

Like his other businesses, Travis will eventually sell it off before it falls apart or declare bankruptcy.


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## Uberdriverlasvegas (May 3, 2017)

What about this article published Feb 27, 2017

*Uber's leaked finances show the company might - just might - be able to turn a profit*

*http://www.businessinsider.com/uber-leaked-finances-accounts-revenues-profits-2017-2 
*


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## KatyB (Apr 24, 2017)

just done my first airport trips in D.C, only done 3 because I always had anywhere from 49 to 96 cars ahead of me, good lord is that normal? does anyone really make good money as an X at the airport? I figured I would do better in the city than sitting like a log. must have been the wrong weekend to try this, being a holiday weekend, 7 hrs for $92 not sure if this is good or not :{


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## SEPA_UberDude (Apr 18, 2017)

Uberdriverlasvegas said:


> What about this article published Feb 27, 2017
> 
> *Uber's leaked finances show the company might - just might - be able to turn a profit*
> 
> *http://www.businessinsider.com/uber-leaked-finances-accounts-revenues-profits-2017-2 *


 News like this is intentionally "leaked" to prop up expectations that getting in on the ground floor of an IPO will reap huge profits (and original investors might have a chance at getting some of their money back). We'll never know the real story until Uber either opens their books to the SEC in order to file for an IPO, or goes t*ts up and has to disclose it's finances in bankruptcy proceedings.


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## Lee239 (Mar 24, 2017)

KatyB said:


> just done my first airport trips in D.C, only done 3 because I always had anywhere from 49 to 96 cars ahead of me, good lord is that normal? does anyone really make good money as an X at the airport? I figured I would do better in the city than sitting like a log. must have been the wrong weekend to try this, being a holiday weekend, 7 hrs for $92 not sure if this is good or not :{


Guy in the Jersey shore forum made a killing last night. $500 and up for 6 to 12 hours long waits and surges at the bars. It would have taken me a few weeks to make $500 so I quit this charade scam known as Uber.


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## Oscar Levant (Aug 15, 2014)

Back it up Uber said:


> Juno sold out for $200 million to GETT so whoever told you they were coming to your area was wrong.
> 
> Even if rideshare disappeared yellow cab won't get the business. Their reputation has ruined for years. Riders that use rideshare are ones that didn't use taxis to begin with.


There's a lot they could do to repair their reputation, now that they have been horsewhipped by rideshare companies. If there are no rideshares, the only beneficiaries are taxis. However, it's more likely that some other non-taxi company will step in. Hopefully it will be one that would have a rate of fare drivers can live on. The CEO of that company should be an ex-taxi guy, like myself.


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## Back it up Uber (Aug 1, 2016)

Oscar Levant said:


> There's a lot they could do to repair their reputation, now that they have been horsewhipped by rideshare companies. If there are no rideshares, the only beneficiaries are taxis. However, it's more likely that some other non-taxi company will step in. Hopefully it will be one that would have a rate of fare drivers can live on. The CEO of that company should be an ex-taxi guy, like myself.


Nope, if there was no more rideshare, rental car companies, buses and subways would benefit way more than taxis. Taxis would get back some business travellers but not much else.


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## Cole Hann (Aug 22, 2016)

Hogg said:


> It would be a lot easier for me to be mad at them if they weren't losing record amounts of money.
> 
> Uber is currently losing about $10 million every day, in addition to all the revenue they generate. Not just spending $10 million, but their bank account has ten million less dollars in it every morning when they wake up. They posted a loss of around $3.5 Billion in 2016. They are down over $40 billion in the seven years they have been operating. I have never heard of a company losing so much so fast, I think it could be a world record. You could almost outright buy the whole Ford Motor Company with the money Uber has lost.
> 
> ...


Seriously, I WISH I had Uber's problems!!

which corp jet do we buy?
3 engine Dassault (the choice of Taylor Swift) or Benchmark for Luxury Gulfstream (choice of billionaires)


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## BLKJEEP (Mar 28, 2017)

I ain't going nowheres. I'm threatening them the same way I do my wife all the time about our marriage by informing her that: I'm staying to the bitter end.


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## Fubernuber (Jan 15, 2017)

They couldnt even fund withdrawals in nyc after the sales tax fraud was revealed. They could not find funds to allow the drivers to withdraw overnight. This 60 billion dollar company needed time to float 50 million to nyc.


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## Cableguynoe (Feb 14, 2017)

BLKJEEP said:


> I ain't going nowheres. I'm threatening them the same way I do my wife all the time about our marriage by informing her that: I'm staying to the bitter end.


Hahahahaha



Fubernuber said:


> They couldnt even fund withdrawals in nyc after the sales tax fraud was revealed. They could not find funds to allow the drivers to withdraw overnight. This 60 billion dollar company needed time to float 50 million to nyc.


Maybe. But I guarantee you there's 50 million in Travis' personal account.


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## Lee239 (Mar 24, 2017)

Fubernuber said:


> They couldnt even fund withdrawals in nyc after the sales tax fraud was revealed. They could not find funds to allow the drivers to withdraw overnight. This 60 billion dollar company needed time to float 50 million to nyc.


And that was only over a 2% error, I mean caught thievery in one city. Imagine them having to pay back for all the over charged amounts worldwide that drivers were not cut in on before this last addendum, it would put them out of business.


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## sellkatsell44 (Oct 25, 2015)

In an ideal world Uber (app) would be:

In one out of every 3 adults age 18 and over in whatever country it's occupying.

The app will let you ignore all pings except the ones along your path and will be dropped off somewhere in the said path and/or near your destination.

Driver and rider app will be one and same so you can toggle back and forth as driver or rider easily. So let's say you're on your way to the lady Gaga concert at at&t park. You log in and see that the ride over will be approx $xx but toggle over to driver and you'll see that your neighbor Melanie is also going and if you drive instead of ride, will get $$.

And, for the airport rides you should be able to prearrange so you won't miss your flight. Uber should be confident enough to let y'all arrange the rides and just collect it's fee like a "technology" company it is.

And of course,

In an ideal world, Uber would be just that. A technology company making *rideshare* possible.


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## Back it up Uber (Aug 1, 2016)

sellkatsell44 said:


> In an ideal world Uber (app) would be:
> 
> In one out of every 3 adults age 18 and over in whatever country it's occupying.
> 
> ...


Everything you said can be accomplished with the destination filter. There is no way it would work for full-time drivers to have unlimited "destination" trips since now of them will ever pickup or drop off in about 50% of the areas around their cities. It would be no better than cab drivers.


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## AlexB (May 29, 2017)

Back it up Uber said:


> Everything you said can be accomplished with the destination filter. There is no way it would work for full-time drivers to have unlimited "destination" trips since now of them will ever pickup or drop off in about 50% of the areas around their cities. It would be no better than cab drivers.


But full time drivers would never use the destination feature, what u said makes no sense. If ur a full time driver u go where the fares take u


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## Back it up Uber (Aug 1, 2016)

AlexB said:


> But full time drivers would never use the destination feature, what u said makes no sense. If ur a full time driver u go where the fares take u


Ummm... yes full-time drivers use the filter too. My response was to the person that says Uber should make it so that the driver should always be on a path.


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## sellkatsell44 (Oct 25, 2015)

Back it up Uber said:


> Everything you said can be accomplished with the destination filter. There is no way it would work for full-time drivers to have unlimited "destination" trips since now of them will ever pickup or drop off in about 50% of the areas around their cities. It would be no better than cab drivers.


no, not really, otherwise every driver would be doing this to only chase after airport/long rides all the time (isn't there a limit to how many destination filters you can use a day?)

because what I'm suggesting is also going to kill it for majority of those who wants to uber as full time because tbh _(and I didn't say that in my original post quoted, but its the reason why I say 1 in every 3 person whose 18 and over should...because the only way to eliminate full time drivers is to have a killing in part time ones)_, no one should be ubering full time, they should then just go drive for a cab then.

the prices also could stand to rise higher than what it is, while being lower than what cab drivers charge (having a comparison on the receipt should also reenforce this to the riders that they are lucky because they SAVED xyz like they would for a pool rider versus x or select)

but what I'm suggesting is, for those who do have a full time job, on their way to work they can turn on the app and get a ping, oh! someone two blocks away needs to be dropped off in SF and I'm heading that way too, cool, I'll pick them up and save them the trouble of taking Bart--it is going to cost them a bit more then a bart ticket BUT trade off is they don't have to fight for a seat, be crowded with folks (especially when all of the car's seats have fallen off, seen this a few times) and they get to be dropped off at the front of their office, if not pretty dang close (they honestly can walk a block over).

and almost everyone (1 in 3) has the app, it would be a lot easier to find people who are willing to pay to get the ride, as well as folks who don't mind giving a ride to someone who is going the same way anyways (because the price they're paid may help the depreciating value of their car, gas and maybe even left over for their time).

uber should have approached it this way imho, because by trying to get drivers to go full time, to grow the market of riders (by having more drivers so the customer/riders find it easy and fast to get a ride) has led a pretty significant amount of drivers who are only going to be a burden once the company dissolves and the adjustment for them is going to be difficult because the cab industry took a pretty big hit thanks to uber/lyft, they're not going to have enough space to accommodate (with reasonable fares to be earned) the out of work uber/lyft drivers.

uber should have instead, figure a way to get folks who are already driving on a daily basis (commuting to and from work, etc) to download the app, and making the app in a way that will _incentive_ the drivers to keep it on there. Before driving to work, simply turn on the app and click "on" and type in your location, and your destination, and if any rides pop up on your gps route to work, and drop off location is near your work, you'll be matched with the rider and so you'll be earning money for mileage/gas/time that you would have already spent.

this is an efficient way of "ride sharing" or "carpooling". it is nice because not all coworkers whom you work with will live near you, or work same hours, and this way, if you wanted to drive to work alone, you can...or you can drive and help another person out (because they won't have to drive) and be environmentally friendly at the same time...and if you're on the freeway, carpool lane of course.


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## Kodyhead (May 26, 2015)

Cableguynoe said:


> Hahahahaha
> 
> Maybe. But I guarantee you there's 50 million in Travis' personal account.


And a nice golden parachute awaiting for him of he gets pushed out or out of business i would imagine


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## tomatopaste (Apr 11, 2017)

Hogg said:


> It would be a lot easier for me to be mad at them if they weren't losing record amounts of money.
> 
> Uber is currently losing about $10 million every day, in addition to all the revenue they generate. Not just spending $10 million, but their bank account has ten million less dollars in it every morning when they wake up. They posted a loss of around $3.5 Billion in 2016. They are down over $40 billion in the seven years they have been operating. I have never heard of a company losing so much so fast, I think it could be a world record. You could almost outright buy the whole Ford Motor Company with the money Uber has lost.
> 
> ...


Travis is now is the same position bernie madoff was in. At this point he's just trying to keep the hamster on the wheel



Bluecrab said:


> While Uber has a reported valuation of $60Billion, I believe the amount of funding they received was around $13Billion.
> 
> Where are you getting the dollars lost as $40B?
> 
> With the new pricing structure I'd wager U.S. Operations will show profit for 2017.


No way in hell


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## [email protected] (Feb 19, 2015)

Hogg said:


> It would be a lot easier for me to be mad at them if they weren't losing record amounts of money.
> 
> Uber is currently losing about $10 million every day, in addition to all the revenue they generate. Not just spending $10 million, but their bank account has ten million less dollars in it every morning when they wake up. They posted a loss of around $3.5 Billion in 2016. They are down over $40 billion in the seven years they have been operating. I have never heard of a company losing so much so fast, I think it could be a world record. You could almost outright buy the whole Ford Motor Company with the money Uber has lost.
> 
> ...


They said the same thing about Facebook. Do what you gotta do, man


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## UberBastid (Oct 1, 2016)

Hogg said:


> It would be a lot easier for me to be mad at them if they weren't losing record amounts of money.
> 
> Uber is currently losing about $10 million every day, in addition to all the revenue they generate. Not just spending $10 million, but their bank account has ten million less dollars in it every morning when they wake up. They posted a loss of around $3.5 Billion in 2016. They are down over $40 billion in the seven years they have been operating. I have never heard of a company losing so much so fast, I think it could be a world record. You could almost outright buy the whole Ford Motor Company with the money Uber has lost.
> 
> ...


That means that you gotta be REAL careful about how much Uber owes you. The day will come, when they go BK, that you are one of the peeps they owe to. And you'll get nuthin.
Don't let them owe you a lot of money. Not more than you can afford to lose anyway.


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## Abraxas79 (Feb 7, 2016)

Disgusted Driver said:


> I don't think they have lost anything close to 40b. Regardless I have no sympathy for them and wish them well in their demise.
> 4 big mistakes:
> 
> Total lack of ethics. An anything goes culture works for a while but eventually catches up with you.
> ...


Totally agree with all your points. Travis has ruined what have could have been a fun industry, perhaps not one designed to replace a full time job, but nothing like what it has become. By poisoning the well, companies such as LYFT are no better.

I still am at a loss to understand what UBER is losing money on and why they cannot make a profit in this business. It boggles the mind truly. One would have to take a detailed look at their financial statements to see, but like so many other things with UBER, I doubt these statements would be anything to close to accurate. This is why an IPO apart from all of UBER' s legal issues would be challenging. What accounting firm is going to put their name to certify these statements ?

UBER has been described as a "Cash burning" business, but perhaps they are a cash laundering business. I simply cannot believe they are losing all these billions. No company can be this incompetent. How much money do you need to run an app ? They have Insurance, Legal, Realty, Marketing, HR, but these are the type of expenses common to any company the size of UBER. They fired all of paid support and offshored it on the cheap to India. How many employees do they have ? Corporate ? How many are needed to run a lousy app ?

If UBER goes the way of Enron and faces criminal charges and a formal investigation is launched, we might finally start to get some answers. Rumour has it that people in positions of power are losing patience with Travis' antics. This up front scamming, was a bone headed move that is back firing horribly. At the end of the day, maybe we will find out where the money is really going. Perhaps the same place that claimed Bernie Madoff's missing 50 billion. I don't think it was possible for anyone or any company to lose that amount of money, but UBER might prove me wrong.


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## Polomarko (Dec 20, 2016)

The question is: How long the investors will be waiting to got their share of profit,.


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## tomatopaste (Apr 11, 2017)

Abraxas79 said:


> Totally agree with all your points. Travis has ruined what have could have been a fun industry, perhaps not one designed to replace a full time job, but nothing like what it has become. By poisoning the well, companies such as LYFT are no better.
> 
> I still am at a loss to understand what UBER is losing money on and why they cannot make a profit in this business. It boggles the mind truly. One would have to take a detailed look at their financial statements to see, but like so many other things with UBER, I doubt these statements would be anything to close to accurate. This is why an IPO apart from all of UBER' s legal issues would be challenging. What accounting firm is going to put their name to certify these statements ?
> 
> ...


There is absolutely now reason to be losing any money. It's all hubris on Travis' part. He's trying to be the greatest of all time but rideshare is not a 'greatest of all time' killer app. It's definitely better than taxis but Uber is trying to turn it into something it's not


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## PrestonT (Feb 15, 2017)

Hogg said:


> It would be a lot easier for me to be mad at them if they weren't losing record amounts of money.
> 
> Uber is currently losing about $10 million every day, in addition to all the revenue they generate. Not just spending $10 million, but their bank account has ten million less dollars in it every morning when they wake up. They posted a loss of around $3.5 Billion in 2016. They are down over $40 billion in the seven years they have been operating. I have never heard of a company losing so much so fast, I think it could be a world record. You could almost outright buy the whole Ford Motor Company with the money Uber has lost.
> 
> ...


They WERE losing $10M a day. I reckon they aren't anymore. A holiday weekend on the Las Vegas Strip that surely should have been a 2.5X-3.5X surge was paying 1.2X-2.5X. Uber has figured it out. They charge the rider what they are willing to pay and pay the driver what they are willing to drive for. Uber pockets the difference and it appears to be substantial.


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## jaybx17 (Mar 1, 2017)

Stop giving pax free ride credit thats one way to cut a little loss. They have a big enough name. These morons give credit for the dumbest reasons such as pax being late to work, thats got to account FOR SOMETHING!


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## doggerel (Apr 23, 2017)

I know. It's ridiculous. UBER IS AN APP. And little more. They easily could be and should be RAKING IN 20 MILLI a day or more. But they are flushing the future of the company right down the gutter with this self/driving crap. It's a scheme. And yes. Make money while you can because sooner or later they are going busto.


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## oldmanuber (Mar 27, 2017)

Hogg said:


> It would be a lot easier for me to be mad at them if they weren't losing record amounts of money.
> 
> Uber is currently losing about $10 million every day, in addition to all the revenue they generate. Not just spending $10 million, but their bank account has ten million less dollars in it every morning when they wake up. They posted a loss of around $3.5 Billion in 2016. They are down over $40 billion in the seven years they have been operating. I have never heard of a company losing so much so fast, I think it could be a world record. You could almost outright buy the whole Ford Motor Company with the money Uber has lost.
> 
> ...


" . . .automated or out of business." 
I remember when flying cars and moving sidewalks were supposed to be the rage. How about cars where doors opened out. I guess someone forgot that you had to have about 5 foot of space between each car for that to work. Hey, I think Uber's storing all our trips in some database and will try to program then into driver-less cars to emulate the human response. I don't see it happening, but then again, I didnt think we'd be running around with little hand held computers either.


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## Side Hustle (Mar 2, 2017)

Hogg said:


> It would be a lot easier for me to be mad at them if they weren't losing record amounts of money.
> 
> Uber is currently losing about $10 million every day, in addition to all the revenue they generate. Not just spending $10 million, but their bank account has ten million less dollars in it every morning when they wake up. They posted a loss of around $3.5 Billion in 2016. They are down over $40 billion in the seven years they have been operating. I have never heard of a company losing so much so fast, I think it could be a world record. You could almost outright buy the whole Ford Motor Company with the money Uber has lost.
> 
> ...


Me thinks Uber will not last, not in its current form. But rideshare is here to stay. There was a narrow window to go public for top dollar but Travis missed it because he was having too much fun using his role as CEO to get laid (i.e. Boober), and bullshitting everyone about self driving cars. Sure there will be SDCs but they will be limited by the realities of the road.Uber may still go public, and it will sell, because Wall Street will buy and sell sh*t sandwiches if commissions can be made, but the opportunity for top$$$ is gone. Once it sells, Travis' days are numbered. Less than a year. And, intuitively I think he knows it which is why he has delayed making any real progress toward a legitimate IPO. Those who have feasted on power, wealth, and fame, have a hard time going on a diet.


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## Bulls23 (Sep 4, 2015)

KatyB said:


> just done my first airport trips in D.C, only done 3 because I always had anywhere from 49 to 96 cars ahead of me, good lord is that normal? does anyone really make good money as an X at the airport? I figured I would do better in the city than sitting like a log. must have been the wrong weekend to try this, being a holiday weekend, 7 hrs for $92 not sure if this is good or not :{


Sitting at DCA/IAD is a dumb thing to do. Drive downtown and work boost hours.



Polomarko said:


> The question is: How long the investors will be waiting to got their share of profit,.


There is no profit in Uber.


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## charmer37 (Nov 18, 2016)

Disgusted Driver said:


> I don't think they have lost anything close to 40b. Regardless I have no sympathy for them and wish them well in their demise.
> 4 big mistakes:
> 
> Total lack of ethics. An anything goes culture works for a while but eventually catches up with you.
> ...


Uber is a shit show in my market, They're hiring anybody to drive and the new drivers could care less about any ethics or rules, I stopped driving for uber a couple months ago and doing other delivery type work.



Lee239 said:


> Guy in the Jersey shore forum made a killing last night. $500 and up for 6 to 12 hours long waits and surges at the bars. It would have taken me a few weeks to make $500 so I quit this charade scam known as Uber.


 I got tired of uber pimping out my car for .85 a mile and fake surges..lol, Total she'll game at drivers expense.


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## New Member 0001365427 (Aug 15, 2016)

Hogg said:


> It would be a lot easier for me to be mad at them if they weren't losing record amounts of money.
> 
> Uber is currently losing about $10 million every day, in addition to all the revenue they generate. Not just spending $10 million, but their bank account has ten million less dollars in it every morning when they wake up. They posted a loss of around $3.5 Billion in 2016. They are down over $40 billion in the seven years they have been operating. I have never heard of a company losing so much so fast, I think it could be a world record. You could almost outright buy the whole Ford Motor Company with the money Uber has lost.
> 
> ...


18 months is how long before I finish my car note, right on time


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## Frisco85132 (Aug 10, 2016)

......and nobody cares.

If Uber goes away, there will _probably_ be another brand, doing the same thing, the same way, on the same day.

Uber has been a GREAT way for me to raise $$ for my daughter's Girl Scout troop, buy myself a boat, and pay for a couple of nice vacations for the family this year without dipping into savings or taking from the household budget. Yes, I am retired with a good pension, no debt, and a wife with a great career...so this is NOT my "living" or my "business", but I don't think it was ever meant to be a _living_ for anyone. It morphed into that when people saw they _could_ make good money without digging ditches, getting an education, learning a skill, or being able to speak english until the market got flooded.

Uber was wildly successful in eviscerating the taxi industry...and good for them...at least here in Arizona where every cab I ever saw or got into smelled like _rape, terrorism, and serial killer_. Now Uber is doing a great job of eviscerating itself, and regardless of the above quoted "attrition" rate of 96%, there will always be another person downloading the app with dreams of hitting it big with Uber and finding their pot of gold at the end of the ride share rainbow. The driver means exactly shit to Uber. I'm personally okay with that because if Uber goes away tomorrow, then I am back to being retired, writing books, having fun with my family and fishing...and probably driving Lyft or substitute teaching a couple of days a week.

IF Uber goes away and nothing replaces it...and if any taxi companies have survived in Phoenix such as Yellow or Discount....not the gypsy Somali Cab and Free Candy Express companies, but the formerly semi-legitimate ones will come back with a vengeance, higher punitive prices, and that market will once again become flooded with recent parolees and other upstanding citizens.

Plan for the future folks, get skills, get educated, get valuable in the work force...all the time you spend *****ing about Uber could be spent planning for the eventual demise.


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## TwoFiddyMile (Mar 13, 2015)

The worse Uber gets, the more the Free Market fops clutch their pearls.


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## LA_Native (Apr 17, 2017)

I understand many are complaining -- in some cases, rightly so. 

Whether or not Uber fails, I'll wait and see.


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