|
08-04-2022, 06:46 PM | #1 |
Lieutenant Colonel
3227
Rep 1,606
Posts |
Can someone explain to me how Uber isn't profitable?
They collect revenue from every ride and the Uber drivers are not employees so they don't have any overhead there.
How are they not printing money? What is the overhead besides the software? Never understood this |
08-04-2022, 07:05 PM | #2 |
Recovering Perfectionist
14882
Rep 938
Posts Drives: 2015 BMW i3 BEV Join Date: Jun 2019
Location: Orange County, NY
iTrader: (0)
Garage List 2014 Mighty Freight ... [0.00]
2015 BMW i3 BEV [0.00] 2000 Audi TT Quattro [0.00] 1967 Formula Vee [0.00] |
Insurance, legal department fighting regulations in many locales, executive pay, etc.....
__________________
2015 BMW i3 BEV, Giga World (Lodge interior), Tech/Driving Assist Packages, 30K miles
|
08-05-2022, 06:35 AM | #3 |
Captain
4467
Rep 694
Posts |
Accountants can make the books show anything they want for whatever their agendas may be
|
Appreciate
6
|
08-05-2022, 06:43 AM | #5 |
Captain
3444
Rep 1,004
Posts |
Expenses (marketing, new market entry, regulation management, software development, etc) have always been far ahead of revenue for Uber. It isn’t clear to me that the revenue will support the cost in a steady state.
If you’re interested in the company, its history and want to infer about growth, revenue and costs, read the book, “Super Pumped” |
Appreciate
1
vreihen1614882.00 |
08-05-2022, 11:10 AM | #6 |
Brigadier General
3931
Rep 3,972
Posts |
They are a public company, go look at their annual report.
__________________
|
Appreciate
2
phat_joe30.50 floridaorange10014.50 |
08-05-2022, 07:53 PM | #7 | |
Brigadier General
3851
Rep 4,133
Posts |
Quote:
In my part of the world, Uber fought and lost to Grab, a regional startup here. They sold their stake to Grab few years back, but even Grab is not profitable til today despite being the major ride share player in the region. Compounding to that problem, easy money is drying up. Starting Q2 this year, VCs wised up and stopped looking for potential and started looking for profitability. So all these companies that were riding their unicorn status are getting a lot less funding now. |
|
08-18-2022, 08:17 PM | #8 |
Enlisted Member
31
Rep 30
Posts |
Agreed. I saved them the trouble.
OP, see p.79 on the attached. Note that some costs are really high. See p.97 for more detail. |
Appreciate
0
|
08-19-2022, 11:40 AM | #9 |
Brigadier General
4178
Rep 3,472
Posts |
Simple...Uber has never charged enough for its service. Many companies suffer from this problem, and for a variety of reasons.
__________________
2017 M240i: 23.6K, MT, Sunroof Delete, 3,432#, EB, Leather, Driving Assistance Package, Heated Front Seats | Sold: E12 530i, E24 M635CSi, E39 520i, E30 325is, E36 M3 (2)
TC Kline Coilovers; H&R Front Bar; Wavetrac; Al Subframe Bushings; 18X9/9½ ARC-8s; 255/35-18 PS4S (4); Dinan Elite V2 & CAI; MPerf Orange BBK; Schroth Quick Fit Pro; GTechniq Crystal Serum Ultra Ceramic; Suntek PPF |
Appreciate
1
RickFLM410876.00 |
08-19-2022, 12:27 PM | #10 |
Lieutenant Colonel
3227
Rep 1,606
Posts |
|
Appreciate
0
|
08-19-2022, 12:41 PM | #12 |
Brigadier General
4178
Rep 3,472
Posts |
I'm not sure what else there is to say. If Uber charged enough to be profitable, it would then be...profitable. Or, more likely, on a faster track out of business.
Just my 2¢, of course. And therein lies Uber's most fundamental and unavoidable problem: its service is not (always) worth it to its customers, even at money-losing rates.
__________________
2017 M240i: 23.6K, MT, Sunroof Delete, 3,432#, EB, Leather, Driving Assistance Package, Heated Front Seats | Sold: E12 530i, E24 M635CSi, E39 520i, E30 325is, E36 M3 (2)
TC Kline Coilovers; H&R Front Bar; Wavetrac; Al Subframe Bushings; 18X9/9½ ARC-8s; 255/35-18 PS4S (4); Dinan Elite V2 & CAI; MPerf Orange BBK; Schroth Quick Fit Pro; GTechniq Crystal Serum Ultra Ceramic; Suntek PPF |
Appreciate
1
shawnhayes1816.00 |
08-19-2022, 12:47 PM | #13 |
Major
1816
Rep 1,304
Posts |
|
08-19-2022, 12:48 PM | #14 | |
Lieutenant Colonel
3227
Rep 1,606
Posts |
Quote:
|
|
Appreciate
0
|
08-19-2022, 01:02 PM | #15 |
Colonel
3905
Rep 2,524
Posts |
they are only "losing" money just like all the big companies do everything they can to show losses to avoid paying taxes.
__________________
|
Appreciate
2
Lucky John616.00 iminhell13907.00 |
08-19-2022, 01:14 PM | #16 |
Major
1962
Rep 1,186
Posts |
|
Appreciate
0
|
08-19-2022, 03:01 PM | #17 |
Recovering Perfectionist
14882
Rep 938
Posts Drives: 2015 BMW i3 BEV Join Date: Jun 2019
Location: Orange County, NY
iTrader: (0)
Garage List 2014 Mighty Freight ... [0.00]
2015 BMW i3 BEV [0.00] 2000 Audi TT Quattro [0.00] 1967 Formula Vee [0.00] |
Uber is nothing more than a pay version of mom's taxi, for basement-dwellers who never had the ambition to get their own drivers license and car.
In case you're not old enough to remember, Uber and other RIDE SHARE apps started out as a way for people in Silicon Valley to find other people to car pool with. It was NEVER about money...until someone started abusing it and morphed it into a giant unregulated taxi service.....
__________________
2015 BMW i3 BEV, Giga World (Lodge interior), Tech/Driving Assist Packages, 30K miles
|
08-19-2022, 03:17 PM | #18 |
Brigadier General
4892
Rep 3,783
Posts |
|
Appreciate
0
|
08-19-2022, 08:54 PM | #19 | |
Lieutenant Colonel
3227
Rep 1,606
Posts |
Quote:
It's such a mindless job for people in life who have no ambition. I also get a kick out of when they ask for a tip...the tip is included in the Uber fee |
|
Appreciate
1
vreihen1614882.00 |
08-20-2022, 11:21 AM | #20 |
Lieutenant Colonel
3227
Rep 1,606
Posts |
I've never had a bad Uber experience so going to disagree with you....
|
Appreciate
0
|
08-21-2022, 02:14 AM | #21 | |
C2H5OH
3907
Rep 2,141
Posts |
Quote:
*year after year https://www.macrotrends.net/stocks/c...et-income-loss But time is always an equaling factor. Just a matter of how much you want to spend for it to equal out. |
|
Appreciate
0
|
Post Reply |
Bookmarks |
Thread Tools | Search this Thread |
|
|