# Uber has a 66% chance of bankruptcy



## MondayMan (Apr 27, 2019)

There has been a lot of gradually. Almost every quarterly earnings report is some sort of spin on how investors should ignore the billions of dollars of net losses and look at some other indicator that says things are going great. Companies exist to make money, and Uber consistently loses it instead.

They have no realistic path to profitability, and I don't think it will be long before investors cut their losses. As of the time of this post, Uber has a 2/3 chance of going bankrupt. Then nobody will be an Uber driver.

Don't quit your day jobs!


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## haji (Jul 17, 2014)

Great news.


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## tohunt4me (Nov 23, 2015)

Wonder what Travis is doing nowadays ?


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## MicheladaKing (May 9, 2021)

tohunt4me said:


> Wonder what Travis is doing nowadays ?


spending his millions on a beach with hot *****es


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## June132017 (Jun 13, 2017)

Yeah, but if it happened today Lyft would just take the market share in the USA. I'm not quite sure what would happen in the rest of the world, but I guess local taxi's would take the place of Uber.


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## uberebu (Jan 13, 2017)

tohunt4me said:


> Wonder what Travis is doing nowadays ?











Watching 'Super Pumped,' It's Not Hard to See Why Uber Ousted Travis Kalanick


The new Showtime series depicts the rise and fall of the founder. Here's where the real life subject is today.




www.esquire.com


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## Nats121 (Jul 19, 2017)

uberebu said:


> Watching 'Super Pumped,' It's Not Hard to See Why Uber Ousted Travis Kalanick
> 
> 
> The new Showtime series depicts the rise and fall of the founder. Here's where the real life subject is today.
> ...


The "FALL" of Travis?

The guy quit Uber and walked away with a cool $5 billion payout in his pocket. If that's considered a "fall" there are zillions of people who would love to "fall" that way.


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## Buckiemohawk (Jun 23, 2015)

We knew all along this company cant make any money. The have too many exec salaries in the millions. Its why taxis where regional. Too much hassle from state to state and county to county. In Fact, Mears has been asked into other counties then central Florida such Brevard and Volusia but there isnt enough business to justify have cabs there and the port is not busy enough


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## CasinoPlayer1969 (7 mo ago)

I’m no financial genius, but I wonder how they are not profitable, could it be the multi millions they give to executives. They take 50% or more of the fare the passengers pay, seems like they should be very profitable. I had a passenger last Sunday tell me he paid $150 for the trip, I was paid $75. This was Uber, so I could confirm what he paid. Take away the $7-8 for tolls and airport fees and Uber got very close to 50%. I’ve had smaller fares pay me as little as 30% of what the passenger paid.

Something has to give. I still make a decent living, so I’ll stick this out, but I do have a backup plan. I hope you guys do as well.


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## 25rides7daysaweek (Nov 20, 2017)

CasinoPlayer1969 said:


> I’m no financial genius, but I wonder how they are not profitable, could it be the multi millions they give to executives. They take 50% or more of the fare the passengers pay, seems like they should be very profitable. I had a passenger last Sunday tell me he paid $150 for the trip, I was paid $75. This was Uber, so I could confirm what he paid. Take away the $7-8 for tolls and airport fees and Uber got very close to 50%. I’ve had smaller fares pay me as little as 30% of what the passenger paid.
> 
> Something has to give. I still make a decent living, so I’ll stick this out, but I do have a backup plan. I hope you guys do as well.


I'm gonna ride this gravy train as long as I can 😉


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## Nats121 (Jul 19, 2017)

CasinoPlayer1969 said:


> I’m no financial genius, but I wonder how they are not profitable, could it be the multi millions they give to executives. They take 50% or more of the fare the passengers pay, seems like they should be very profitable. I had a passenger last Sunday tell me he paid $150 for the trip, I was paid $75. This was Uber, so I could confirm what he paid. Take away the $7-8 for tolls and airport fees and Uber got very close to 50%. I’ve had smaller fares pay me as little as 30% of what the passenger paid.
> 
> Something has to give. I still make a decent living, so I’ll stick this out, but I do have a backup plan. I hope you guys do as well.











Uber CEO Travis Kalanick Says Company Is Profitable In U.S.


Uber is officially profitable in the U.S., Uber CEO Travis Kalanick told Canadian publication BetaKit earlier this week. H/t to Fortune for peeling out the buried news in that story, which was titled “Travis Kalanick Speaks Out: Uber’s CEO On Risk, Regulation, and Women in Tech.” Here’s the key...




techcrunch.com





This was in 2016, when Uber's cut was much smaller than it is now.

Uber losses are and always have been due to overseas adventures and costly investments such as flying cars, SDCs, boats, and who knows what else.

They're making lots of money on our rides.


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## christophersullivan1 (7 mo ago)

CasinoPlayer1969 said:


> I’m no financial genius, but I wonder how they are not profitable, could it be the multi millions they give to executives. They take 50% or more of the fare the passengers pay, seems like they should be very profitable. I had a passenger last Sunday tell me he paid $150 for the trip, I was paid $75. This was Uber, so I could confirm what he paid. Take away the $7-8 for tolls and airport fees and Uber got very close to 50%. I’ve had smaller fares pay me as little as 30% of what the passenger paid.
> 
> Something has to give. I still make a decent living, so I’ll stick this out, but I do have a backup plan. I hope you guys do as well.


I've been able to get around this by by turning my passengers into private clients. If they take $100 ride for example, Uber takes 50 and gives you 50 I'll do it for $75. I make an extra 25, and they save an extra 25.


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## CasinoPlayer1969 (7 mo ago)

christophersullivan1 said:


> I've been able to get around this by by turning my passengers into private clients. If they take $100 ride for example, Uber takes 50 and gives you 50 I'll do it for $75. I make an extra 25, and they save an extra 25.


Do you have commercial insurance?


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## christophersullivan1 (7 mo ago)

CasinoPlayer1969 said:


> Do you have commercial insurance?


No, but it's not illegal.


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## Invisible (Jun 15, 2018)

Nats121 said:


> Uber CEO Travis Kalanick Says Company Is Profitable In U.S.
> 
> 
> Uber is officially profitable in the U.S., Uber CEO Travis Kalanick told Canadian publication BetaKit earlier this week. H/t to Fortune for peeling out the buried news in that story, which was titled “Travis Kalanick Speaks Out: Uber’s CEO On Risk, Regulation, and Women in Tech.” Here’s the key...
> ...


Their losses are also from lawsuits, like the pax who got assaulted by drivers and sued them and the driverless car crash that killed the pedestrian.


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## CasinoPlayer1969 (7 mo ago)

christophersullivan1 said:


> No, but it's not illegal.


Actually in most states it is. And if you’re in an accident with a paying passenger your insurance company will most likely deny the claim. Even if they don’t, they will definitely drop you, and you will never be able to get car insurance.


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## christophersullivan1 (7 mo ago)

CasinoPlayer1969 said:


> Actually in most states it is. And if you’re in an accident with a paying passenger your insurance company will most likely deny the claim. Even if they don’t, they will definitely drop you, and you will never be able to get car insurance.


So if a friend paid me gas money to take him somewhere it would be illegal because he's a paying passenger?


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## CasinoPlayer1969 (7 mo ago)

christophersullivan1 said:


> So if a friend paid me gas money to take him somewhere it would be illegal because he's a paying passenger?


No, but you’re taking passengers on a commercial basis that’s a different story. Are you going to expect a paying passenger to lie in the event of an accident?


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## Ummm5487 (Oct 15, 2020)

MicheladaKing said:


> spending his millions on a beach with hot *****es


You meant billions


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## christophersullivan1 (7 mo ago)

CasinoPlayer1969 said:


> No, but you’re taking passengers on a commercial basis that’s a different story. Are you going to expect a paying passenger to lie in the event of an accident?


I used to have this neighbor who didn't have a car and his girlfriend lived like 30 minutes away. Once or twice a week he would pay me to drive him up to go see her. this is before Uber was even a thing. was that illegal?


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## tohunt4me (Nov 23, 2015)

Everyone will have 66% chance of going Bankrupt now !

Thanks Joe !


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## mrpjfresh (Aug 16, 2016)

Would it really be such a bad thing if Uber (and hopefully Lyft, too) was to go belly up? In the short term, sure, pain with lots of ants out of a job but maybe it would be a good kick in the rear many need to find something better. But I honestly don't expect this rideshare thing to just disappear in the next 5-10 years. The market *is* there in many places and other companies, likely local or regional, will step in to fill the void. The current 800lb gorilla TNCs failing could be similar to when a monopoly finally gets broken up and then more companies can come in and you see more competition and innovation. I could be wrong though.

I have always compared Uber to Napster, and I have seen nothing from them in the last five years to convince me that they will not share similar fates.


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## tohunt4me (Nov 23, 2015)

mrpjfresh said:


> Would it really be such a bad thing if Uber (and hopefully Lyft, too) was to go belly up? In the short term, sure, pain with lots of ants out of a job but maybe it would be a good kick in the rear many need to find something better. But I honestly don't expect this rideshare thing to just disappear in the next 5-10 years. The market *is* there in many places and other companies, likely local or regional, will step in to fill the void. The current 800lb gorilla TNCs failing could be similar to when a monopoly finally gets broken up and then more companies can come in and you see more competition and innovation. I could be wrong though.
> 
> I have always compared Uber to Napster, and I have seen nothing from them in the last five years to convince me that they will not share similar fates.


Didn't Travis start Napster !?


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## tohunt4me (Nov 23, 2015)

Oops. " scour" which predated Napster by 18 months.


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## 101Uber (May 18, 2021)

25rides7daysaweek said:


> I'm gonna ride this gravy train as long as I can 😉


I’m not sure the words gravy train work, but oh well.


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## 25rides7daysaweek (Nov 20, 2017)

101Uber said:


> I’m not sure the words gravy train work, but oh well.


I suppose that might depend on how
much money you can make ..


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## Buckiemohawk (Jun 23, 2015)

christophersullivan1 said:


> I used to have this neighbor who didn't have a car and his girlfriend lived like 30 minutes away. Once or twice a week he would pay me to drive him up to go see her. this is before Uber was even a thing. was that illegal?


Nope/ And it happened all the time.


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## laser1 (Jul 6, 2019)

So how about the undisputed worst SHITBOX company LYFT. The stock price IPO WAS $78 now its $14 bucks... LYFT you are without question a joke on wheels!!


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## 101Uber (May 18, 2021)

laser1 said:


> So how about the undisputed worst SHITBOX company LYFT. The stock price IPO WAS $78 now its $14 bucks... LYFT you are without question a joke on wheels!!


Lyft as an ongoing concern is in its “death gurgles”.


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## Gigworker (Oct 23, 2019)

On April 16, 2021 Uber stock price was $60.35 ; now it is $22.99 after hours.
On March 29, 2019 Lyft stock was $78.29 ; now it is $16.28 after hours.
This tells you all you need to know about how the companies are doing. For most companies to stay in business, they have to have maintain positive reviews. Uber has mostly negative reviews, from both riders and drivers.


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## tohunt4me (Nov 23, 2015)

Gigworker said:


> On April 16, 2021 Uber stock price was $60.35 ; now it is $22.99 after hours.
> On March 29, 2019 Lyft stock was $78.29 ; now it is $16.28 after hours.
> This tells you all you need to know about how the companies are doing. For most companies to stay in business, they have to have maintain positive reviews. Uber has mostly negative reviews, from both riders and drivers.


Pool will " SAVE" THEM !


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## yolobolo (7 mo ago)

https://finance.yahoo.com/quote/UBER/key-statistics?p=UBER


116 BILLION "LOST" or 2 MILLION PER HOUR burned over 14 years for what?
To decimate an entire industry where an honest days work earned an honest days pay?
Thousands murdered, raped, robbed, committed suicide..... because of their predatory pricing & illegal wages?

One of the biggest frauds in human history is "uber"

Maybe 1000 people cashed out & split 20 billion.
They accomplished NOTHING of value.

Now there's an entire generation of idiots that can't even figure out how to get a few miles without an app as if their legs don't exist or offering any human within a hundred yards gas money is rocket science. Eye contact is creepy, opening their mouth to converse is triggering, and carrying cash is such a burden as the weight plus having to count is so stressful that it effects their mental health.


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## Buckiemohawk (Jun 23, 2015)

yolobolo said:


> https://finance.yahoo.com/quote/UBER/key-statistics?p=UBER
> 
> 
> 116 BILLION "LOST" or 2 MILLION PER HOUR burned over 14 years for what?
> ...


I literally have gotten people going a block down the street with Uber and I look at them and go.... ummmm noooo. Also there revenue is so far in the dumps its not funny. The only way to profit off the enginie that is Uber is to charge three times the price of a taxi and take 70 percent


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## Alantc (Jun 15, 2018)

Hopefully 99.9 % Lyft does and hopefully not Uber. Good driving in my area for uber


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## Invisible (Jun 15, 2018)

Buckiemohawk said:


> I literally have gotten people going a block down the street with Uber and I look at them and go.... ummmm noooo. Also there revenue is so far in the dumps its not funny. The only way to profit off the enginie that is Uber is to charge three times the price of a taxi and take 70 percent


Yep had someone go a 1.5 blocks but they were not from the area so I’ll give them slack. I had a woman, around 20 years old, who I drove 3 blocks to work. Lazy, lazy, lazy!


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## yolobolo (7 mo ago)

Buckiemohawk said:


> I literally have gotten people going a block down the street with Uber and I look at them and go.... ummmm noooo. Also there revenue is so far in the dumps its not funny. The only way to profit off the enginie that is Uber is to charge three times the price of a taxi and take 70 percent


They would need to give 100+ billion rides at $1 PROFIT each ride (they still don't profit on most rides) to just break even

5 million rides per day(pre pandemic peak) x 365 days is almost 2 billion a year
uber is on pace to break even with what they've already lost in 50 years or the year 2072 for those bad at math


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