Uber Technologies Inc reported on Wednesday that its losses narrowed in the second quarter by 9 percent and ride bookings rose, but the company is still a long way from being profitable.
Damn.
Uber reports $645 million second quarter loss
Uber Technologies Inc reported on Wednesday that its losses narrowed in the second quarter by 9 percent and ride bookings rose, but the company is still a long way from being profitable.
Damn.
It’s cool. They’ll get a few billion in VC capital.
Kinda sucks they get to destroy other industries and companies, put uncountable other drivers out of work and leave them with worthless Taxi plates they paid hundreds of thousands of dollars for. And at the same time they get to ride it out bleeding hundreds of millions of dollars of other peoples money with no regards to making a profit for years.
100% agree. BS all around re: Uber and their ilk.
This strikes me as being something that should have been profitable from pretty much day one. If they weren’t so intent on destroying other business, there should have been a profit in short order.
This strikes me as being something that should have been profitable from pretty much day one. If they weren’t so intent on destroying other business, there should have been a profit in short order.
Look on the bright side. At least a handful of politicians Uber successfully bribed get to enjoy their new yachts.
Alpha257s
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Uber is like Trump. And that is not a good thing
Indeed. Copying Amazon’s business model of using investor capital to under-bid entire industries, eventually killing them off, while talking a good game about “innovation” to mis-direct public and regulatory attention.
<
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