Celebrating 10 years! 2007-2017

Uber loses $1.8 billion in 2018

They pay drivers like $3 a ride so I am sure they will be fi persius02/16/19
I wonder why google hasn't moved to compete? Are they a part superttthero02/16/19
What expenses does a company like Uber have to explain $3B i wutwutwut02/17/19
Lobbying and legal work world-wide at every level of governm superttthero02/17/19
Can we get a poll going here? How many of you would purchase trickydick02/17/19
I would say no. Which means its probably a yes. superttthero02/17/19
I think I would. Assuming self driving cars are going to hap ipesq02/17/19
Self-driving cars that do not require a driver are a good 10 persius02/17/19
they gonna cash out and leave proles holding the bag sili whiteguyinchina02/18/19
They are going to run out of hip movie star and Saudi Prince persius02/18/19
Get that stock into pension funds quickly! Before ITE2 captain02/18/19
I'll pass. Everyone said Facebook was a scam, and they mak doublefriedchicken02/18/19
persius (Feb 16, 2019 - 3:51 pm)

They pay drivers like $3 a ride so I am sure they will be fine.

(Should be in off topic)



Uber says it lost $1.8 billion in 2018

https://www.google.com/amp/s/amp.cnn.com/cnn/2019/02/15/tech/uber-2018-financial-report/index.html

New York (CNN Business) Uber, the most highly- valued US based startup, is heading into its much-anticipated IPO after more than one billion dollars in losses last year.

The company lost $1.8 billion in 2018, the first full year under new CEO Dara Khosrowshahi, according to the company's select financial results for 2018 released on Friday. The staggering figure represents a modest improvement from one year ago when it reported $2.2 billion in losses.

While Uber's losses shrunk, so did its sales growth. Its revenue hit $3 billion in the final three months of 2018, up just 2% from the prior quarter and up 25% from the same period a year ago.

The steadily declining sales growth could raise alarm bells for potential investors on Wall Street who are expecting to see a business with rocket ship growth to justify the lofty $120 billion valuation it's reportedly seeking. It has been widely reported that the company has confidentially filed initial paperwork to go public. Khosrowshahi has repeatedly said the company would seek to go public in 2019.

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superttthero (Feb 16, 2019 - 4:20 pm)

I wonder why google hasn't moved to compete? Are they a part owner?

Seems like paying a % of ride is a model that can be beat by someone that could modify their current tech. Google already has payment and maps, link them to a "find my ride" app that lets driver keep the entire fare and only charges, say $2.50 to make the connection... people and drivers would flock to that.

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wutwutwut (Feb 17, 2019 - 7:23 am)

What expenses does a company like Uber have to explain $3B in revenue but overall $2B loss?

Adverts, paying the coders and execs at HQ, cost of HQ, driverless car program (which i havent heard much about lately), aything else?

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superttthero (Feb 17, 2019 - 8:26 am)

Lobbying and legal work world-wide at every level of government as cities try to please their local cab monopolies, states try to tax it and regulate it is probably a big one.

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trickydick (Feb 17, 2019 - 12:02 pm)

Can we get a poll going here? How many of you would purchase stock in uber if it becomes available?

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superttthero (Feb 17, 2019 - 6:58 pm)

I would say no. Which means its probably a yes.

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ipesq (Feb 17, 2019 - 7:08 pm)

I think I would. Assuming self driving cars are going to happen, their labor costs are going to decrease. They already started diversifying to motorized scooters, restaurant delivery and I imagine messenger services is in the cards.

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persius (Feb 17, 2019 - 7:33 pm)

Self-driving cars that do not require a driver are a good 10 years out, if ever. I am pretty sure Uber has already sold their technology and is no longer trying to develop driverless cars. Even if the technology is there, no way the are operating a fleet for the general use - more likely a niche thing for heavily vetted passengers like google (wayno).

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whiteguyinchina (Feb 18, 2019 - 3:17 am)

they gonna cash out and leave proles holding the bag

silicon valley style investments

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persius (Feb 18, 2019 - 11:11 am)

They are going to run out of hip movie star and Saudi Prince investment cash at a burn rate of $2 billion a year. Time to transition to suckers on the stock market, stat.

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captain (Feb 18, 2019 - 3:50 pm)

Get that stock into pension funds quickly! Before ITE2

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doublefriedchicken (Feb 18, 2019 - 3:53 pm)

I'll pass. Everyone said Facebook was a scam, and they make money now. But rideshare is so labor intensive, and self driving may be years away and when it happens, it will probably be other players dominating.

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