Comment by steveBK123
1 month ago
Indeed, its the old Uber playbook at nearly two extra orders of magnitude.
It is a large enough number to simply run out of private capital to consume before it turns cash flow positive.
Lots of things sell well if sold at such a loss. I’d take a new Ferrari for $2500 if it was on offer.
Did Uber actually do a lot of capital investment? They don't own the cars, for example.
Uber nakedly broke the law and beat down labor, I'm honestly shocked none of the executives went to prison.
Uber didn’t beat down labor, they beat down capital, specifically the capital that owned (and lobbied for the existence of) taxi medallions
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I believe they spent a huge amount of money on incentives to help sign up drivers, and discounts to help attract customers.
Yes, but that's loss leader rather than capital investment. You can't put a customer on the balance sheet and depreciate them. Once you've paid for a free ride, you own nothing tangible.
You say that as if Uber's playbook didn't work. Try this: https://www.google.com/finance/quote/UBER:NYSE
Uber’s playbook worked for Uber