Uber Revenue Slows as Quarterly Loss Surges to $1.1B
bloomberg.com
Uber Revenue Slows as Quarterly Loss Surges to $1.1B
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Re: Uber Revenue Slows as Quarterly Loss Surges to $1.1B
#2They could try breaking the law to boost profits. I mean have they tried that?
Re: Uber Revenue Slows as Quarterly Loss Surges to $1.1B
#3Uber’s sales are dramatically slowing even as the ride-hailing company is spending more to fuel global growth, particularly in its food delivery business. Revenue growth of 38 percent in the third quarter was almost half of what the growth rate was six months earlier, when the company was negotiating a $9.3 billion investment led by SoftBank Group Corp.
Brutal opening paragraph
Re: Uber Revenue Slows as Quarterly Loss Surges to $1.1B
#4Side note, I'm getting fed up with Uber...
I'm a decent user, I use it 1-2 a week.
Drivers have become worse. They used to have clean cars and were of all ethnicity. There also used to be a lot of women drivers. Now it's basically taxi drivers with their mate's cars. Cars are now often dirty, greasy interiors, dirty outside and bad smell.
And as soon as you have a 'usual' route, or you use the app a lot, you get charged more!! It's so disgusting.
I tried to book a trip to the airport for my inlaws using both my account and my wife's account. She rarely uses Uber, and hers showed a 10-15% cheaper rate. Do they think we're stupid? They targetted 'smart' people for using ride sharing as opposed to taxis, and now they try to play us.
Let's not even get started about dark UX patterns. It's hard to see peak rates now, and unless you get a bad gut feeling, you wouldn't know you're currently paying more than a cab rate.
What about that '3 mins away'? They're always 3 mins away for 10 minutes. Unless they fly close to a black hole it's just lies and horrific UX.
The same ride I used to pay $8 for is sometimes $25-32 now. Let's be honest, if anything better came along, I wouldn't look back.
At best now, my Uber rides always seem to be just about 10% cheaper than a cab.
I must be at "max milking rate".
(update: I went from +10 to -1 in 15 mins... I guess I touched a secret society)
Re: Uber Revenue Slows as Quarterly Loss Surges to $1.1B
#5They could try breaking the law to boost profits. I mean have they tried that?
Pfft, they haven't tried hard enough.
Why not just break accounting laws next? Then you can have $1T profit each year without even have to worry about any other laws.
Re: Uber Revenue Slows as Quarterly Loss Surges to $1.1B
#6This plus the news that Waymo is starting its autonomous ride-share service next month is a one-two punch for Uber this week. Might be one of the largest unicorns to die in our generation.
Re: Uber Revenue Slows as Quarterly Loss Surges to $1.1B
#7Side note, I'm getting fed up with Uber... I'm a decent user, I use it 1-2 a week. Drivers have become worse. They used to have clean cars and were of all ethnicity. There also used to be a lot of women drivers. Now it's basically taxi drivers with their mate's cars. Cars are now often dirty, greasy interiors, dirty outside and bad smell. And as soon as you have a 'usual' route, or you use the app a lot, you get char…
> “Do they think we're stupid?”
Yes, it seems routine and unremarkable at this point to note that Uber continues to have a frightening contempt for its users and that this has not changed in a meaningful way after the CEO swap.
Re: Uber Revenue Slows as Quarterly Loss Surges to $1.1B
#8Their prices are often worse than yellow cabs in NYC. They act like locals won't be able to tell but it's pretty obvious when it's a $10 more ask at a time that isn't even busy and there are yellow cabs everywhere.
Re: Uber Revenue Slows as Quarterly Loss Surges to $1.1B
#9They could try breaking the law to boost profits. I mean have they tried that?
Isn't that basically their entire business already?
Re: Uber Revenue Slows as Quarterly Loss Surges to $1.1B
#10Uber's been buying revenue at the cost of margin in at least two ways by shifting rides to Pool (where they can declare the entire ride's cost as revenue, not just their cut), and ramping up Uber Eats (where they take a percentage of the total cost of the food and may actually lose money on the ride). Neither strategy can continue indefinitely.