Comment by steveBK123
12 hours 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.
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