Uber's IPO Is Historic, Despite Its $10 Billion Loss - The Atlantic🔒 www.theatlantic.com
What an amazing amount of money being invested.
Here’s a deeply strange thing about Uber, which publicly filed for its IPO today: The company has lost $10 billion from operations, just since 2016, and while riders have paid $79.4 billion for rides, many drivers attest that they can barely scrape together a living. So no part of the operation is a high-margin business, and yet Uber keeps growing and growing and growing.
If the end-game to real profit and margin for Uber is self-driving cars, one has to wonder if they can possibly lose that much money while those are being developed. I think it’s a long ways off.Posted on April 18, 2019 →