They are surely gonna run out of top c-level execs faster than out of cash.
Uber Posts $708M Loss as Finance Head Leaves
61–70 of 239 posts
Re: Uber Posts $708M Loss as Finance Head Leaves
#62Earlier quoted context omitted.
> Uber is doing fine. Yes and no, they are in a space which is extremely price competitive. I literally am watching Uber take a dramatic hit in my area right now. Lyft came to town and probably 80% of the drivers solely use them now, driving up the Uber prices. Now, I only use Lyft - as do most of the people. Plus, most of the Uber drivers are shady here and the people think Ubers a snaky company. I realize this is a…
I'm not buying that most people use Lyft in your area - passengers or drivers. I believe you think that and your circle of people may also be doing the same, but beyond that, I'm guessing there's a lot of bias. Especially if you're saying everywhere you go Lyft seems to be more popular among riders. It's just not true at all. For my own anecdote, I'd bet 75% of my FB friends with smartphones within my age range, 21-4…
As long as we're sharing anecdotes, most of the people I know, parents and young kids included, have made the switch to Lyft starting about 8 months ago. They seem to be the less evil company, so people enjoy working for and using them.
Re: Uber Posts $708M Loss as Finance Head Leaves
#63Earlier quoted context omitted.
> prices have to rise 6% (assuming no efficiency improvements via pool etc, which is frankly ridiculous) If Uber raises 6%, the revenue Uber will decrease. If you raise the price, simply there will be less rides because people will find alternatives such as Lyft, taxi, or even public transportations.
An irrelevant percent of people will choose to take the bus because their $10 ride is now $10.50. I agree that they are competing against Lyft on price, but they will both sooner or later have to reach break-even; neither will run at a loss forever. Rides will shift between them, but the rideshare market as a whole will shrink trivially when it does.
>An irrelevant percent of people will choose to take the bus because their $10 ride is now $10.50.
That's not how the market works at scale.
Re: Uber Posts $708M Loss as Finance Head Leaves
#64Earlier quoted context omitted.
> Now, I only use Lyft - as do most of the people. Define most people. As far as I could tell Uber has a far bigger user base and market share. So I'm not sure how Lyft could suddenly be used the most. During the whole #DeleteUber protest it took longer to get an Uber at my house in the bay area. Lyft was quicker for about two weeks. Then it shifted back. Now I can't get a Lyft in under 20 minutes whereas Uber is usu…
> Lyft came to town Sounds like the parent is referring to his/her town. It's still anecdotal because surely the parent doesn't have that statistic but it very well may be the case in his/her town.
Hmm. Fair enough, assumed new context from paragraph. Regardless some data would be interesting here as I experienced seemingly the exact opposite. Lyft is essentially useless in my part of the bay area.
Re: Uber Posts $708M Loss as Finance Head Leaves
#65[deleted]
Re: Uber Posts $708M Loss as Finance Head Leaves
#66Revenue: $3.4B Loss: $708M Growth: 18% Quarter over quarter Cash to burn: $7.2B With the current burn rate, Uber can burn another 10 quarters.
That would be at 0% growth, which is unlikely.
Re: Uber Posts $708M Loss as Finance Head Leaves
#67Earlier quoted context omitted.
> Uber is doing fine. Yes and no, they are in a space which is extremely price competitive. I literally am watching Uber take a dramatic hit in my area right now. Lyft came to town and probably 80% of the drivers solely use them now, driving up the Uber prices. Now, I only use Lyft - as do most of the people. Plus, most of the Uber drivers are shady here and the people think Ubers a snaky company. I realize this is a…
I'm not buying that most people use Lyft in your area - passengers or drivers. I believe you think that and your circle of people may also be doing the same, but beyond that, I'm guessing there's a lot of bias. Especially if you're saying everywhere you go Lyft seems to be more popular among riders. It's just not true at all. For my own anecdote, I'd bet 75% of my FB friends with smartphones within my age range, 21-4…
I wouldn't doubt it, Uber comes preinstalled on most android phones.
Re: Uber Posts $708M Loss as Finance Head Leaves
#68$708 million loss, narrowed from $991 million last quarter 18% growth from last quarter (note: that's not Y/Y. this is ridiculously fast, given the huge base.) 708mm loss / 3.4 billion in revenue is only about 20% under even. And what most people miss, is that the 3.4 billion is the 30% cut Uber takes from a ride. Prices don't have to rise 20% to break even, prices have to rise 6% (assuming no efficiency improvements…
> Uber is doing fine. Yes and no, they are in a space which is extremely price competitive. I literally am watching Uber take a dramatic hit in my area right now. Lyft came to town and probably 80% of the drivers solely use them now, driving up the Uber prices. Now, I only use Lyft - as do most of the people. Plus, most of the Uber drivers are shady here and the people think Ubers a snaky company. I realize this is a…
Uber has a solid worldwide presence. Lyft does not.
You can go into nearly any state and most countries (I think all of the first world countries and a bunch of second world ones too) and book an Uber.
As long as that stays true and Uber continues to grow outside of the US, Lyft doesn't stand a chance.
If Lyft could light up worldwide scale right now, they absolutely would have. Something is holding them back. It's likely new rideshare laws that Uber spawned due to it having first mover advantage.
Disclosure: I am a Lyft user and deleted my Uber account.
Re: Uber Posts $708M Loss as Finance Head Leaves
#69$708 million loss, narrowed from $991 million last quarter 18% growth from last quarter (note: that's not Y/Y. this is ridiculously fast, given the huge base.) 708mm loss / 3.4 billion in revenue is only about 20% under even. And what most people miss, is that the 3.4 billion is the 30% cut Uber takes from a ride. Prices don't have to rise 20% to break even, prices have to rise 6% (assuming no efficiency improvements…
> And what most people miss, is that the 3.4 billion is the 30% cut Uber takes from a ride.
From what I have read/heard, they count all of Uber pool in revenues so this statement isn't entirely correct.
Re: Uber Posts $708M Loss as Finance Head Leaves
#70If I understood the Reuters article correctly, Uber made $3.4 billion and therefore lost $4.1 billion in the first quarter of 2017. Can someone help me understand what Uber spends $4.1 billion dollars on in 3 months? Is it because they're subsidizing rides by that much on average? (i.e. paying drivers more than riders pay)
They're paying drivers 70% of the fare, so no.
It's a very good question. They must burn a lot of money on developing self driving cars and other research. But can it really be this much?