Uber Revenue Slows as Quarterly Loss Surges to $1.1B • Hacker News Board

Re: Uber Revenue Slows as Quarterly Loss Surges to $1.1B

#41

Post by jonlucc » Wed, Nov 14, 2018, 10:33 PM UTC

asteli wrote: post #20

crunchlibrarian wrote: post #3

Uber’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

It's a strange world we live in when people speak poorly of 38% revenue growth. To me, that seems like a staggeringly huge growth rate. I looked up the numbers independently to double check, and yep. 63% revenue growth between Q2'17/Q2'18, 38% between Q3'17/Q3'18. If my own 9 year old company was growing 38% YOY I think I'd be very very happy.

I may be totally wrong, but I think the point is that just about any company can grow 38% for a long time if you throw enough money at it. So far, lots of people have thrown lots of money at Uber, and some days it looks like they're not going to get profitable before they burn their runway.

Re: Uber Revenue Slows as Quarterly Loss Surges to $1.1B

#42

Post by conanbatt » Wed, Nov 14, 2018, 10:34 PM UTC

CydeWeys wrote: post #19

ProfessorLayton wrote: post #11

Earlier quoted context omitted.

I don't know if I'd call it disgusting, price discrimination is a well established business practice, and your comment suggests that you continue to use Uber's service despite those practices — validating the discriminatory pricing they're giving you. It is your prerogative as a consumer to check multiple car hailing apps and pick the one that suits you best.

I'd sooner just catch a cab than have to open up multiple different apps and compare prices all the time. I always know exactly what I'm paying with a cab, and it's no hassle.

Then catch a cab! Most other people don;t and thats perfectly fine.

Re: Uber Revenue Slows as Quarterly Loss Surges to $1.1B

#43

Post by Thriptic » Wed, Nov 14, 2018, 10:34 PM UTC

buzzdenver wrote: post #36

Androider wrote: post #30

Uber doesn't have much of a moat or lock-in effect. I just switched one day from being a frequent Uber rider to 100% using Lyft, simply because I don't like Uber's behavior as a company. The prices are so close it doesn't make any practical difference to me. Anecdotally, among my friends I also see Lyft becoming the default, and sometimes price-checking with Uber. If Waymo or whoever came out tomorrow with a cheaper/…

The reason I'm reluctant to use Lyft is that they do not say beforehand how much my ride is going to be. Edit: I stand corrected. Their UI mislead me because for airport rides the price is only shown after you hit a Confirm button, but that does not order the car as I thought, only takes you to the next screen.

Yes, they do

Re: Uber Revenue Slows as Quarterly Loss Surges to $1.1B

#44

Post by d3andj » Wed, Nov 14, 2018, 10:34 PM UTC

ProfessorLayton wrote: post #11

keyle wrote: post #4

Side 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…

I don't know if I'd call it disgusting, price discrimination is a well established business practice, and your comment suggests that you continue to use Uber's service despite those practices — validating the discriminatory pricing they're giving you. It is your prerogative as a consumer to check multiple car hailing apps and pick the one that suits you best.

"It works"/"it brings profit" has nothing to do with "not disgusting". Let's not encourage that.

Re: Uber Revenue Slows as Quarterly Loss Surges to $1.1B

#45

Post by lemoncucumber » Wed, Nov 14, 2018, 10:34 PM UTC

buzzdenver wrote: post #36

Androider wrote: post #30

Uber doesn't have much of a moat or lock-in effect. I just switched one day from being a frequent Uber rider to 100% using Lyft, simply because I don't like Uber's behavior as a company. The prices are so close it doesn't make any practical difference to me. Anecdotally, among my friends I also see Lyft becoming the default, and sometimes price-checking with Uber. If Waymo or whoever came out tomorrow with a cheaper/…

The reason I'm reluctant to use Lyft is that they do not say beforehand how much my ride is going to be. Edit: I stand corrected. Their UI mislead me because for airport rides the price is only shown after you hit a Confirm button, but that does not order the car as I thought, only takes you to the next screen.

I'm not sure what you're referring to. They always show the price beforehand for me.

Re: Uber Revenue Slows as Quarterly Loss Surges to $1.1B

#46

Post by benburleson » Wed, Nov 14, 2018, 10:34 PM UTC

buzzdenver wrote: post #36

Androider wrote: post #30

Uber doesn't have much of a moat or lock-in effect. I just switched one day from being a frequent Uber rider to 100% using Lyft, simply because I don't like Uber's behavior as a company. The prices are so close it doesn't make any practical difference to me. Anecdotally, among my friends I also see Lyft becoming the default, and sometimes price-checking with Uber. If Waymo or whoever came out tomorrow with a cheaper/…

The reason I'm reluctant to use Lyft is that they do not say beforehand how much my ride is going to be. Edit: I stand corrected. Their UI mislead me because for airport rides the price is only shown after you hit a Confirm button, but that does not order the car as I thought, only takes you to the next screen.

They do that now.

Re: Uber Revenue Slows as Quarterly Loss Surges to $1.1B

#47

Post by zitterbewegung » Wed, Nov 14, 2018, 10:35 PM UTC

buzzdenver wrote: post #36

Androider wrote: post #30

Uber doesn't have much of a moat or lock-in effect. I just switched one day from being a frequent Uber rider to 100% using Lyft, simply because I don't like Uber's behavior as a company. The prices are so close it doesn't make any practical difference to me. Anecdotally, among my friends I also see Lyft becoming the default, and sometimes price-checking with Uber. If Waymo or whoever came out tomorrow with a cheaper/…

The reason I'm reluctant to use Lyft is that they do not say beforehand how much my ride is going to be. Edit: I stand corrected. Their UI mislead me because for airport rides the price is only shown after you hit a Confirm button, but that does not order the car as I thought, only takes you to the next screen.

Have you tried booking the trip through google maps ? It shows the price of the ride beforehand for me.

Re: Uber Revenue Slows as Quarterly Loss Surges to $1.1B

#48

Post by rightbyte » Wed, Nov 14, 2018, 10:35 PM UTC

asteli wrote: post #20

crunchlibrarian wrote: post #3

Uber’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

It's a strange world we live in when people speak poorly of 38% revenue growth. To me, that seems like a staggeringly huge growth rate. I looked up the numbers independently to double check, and yep. 63% revenue growth between Q2'17/Q2'18, 38% between Q3'17/Q3'18. If my own 9 year old company was growing 38% YOY I think I'd be very very happy.

Exactly. If 38% is bad then I would like to know what Uber would need.

On the other hand, they are operating at a loss so increasing revenue just means they spend more money paying costumers to ride with them or eat with them. Only founding would limit the revenue growth when you are giving away stuff.

Re: Uber Revenue Slows as Quarterly Loss Surges to $1.1B

#49

Post by bb611 » Wed, Nov 14, 2018, 10:35 PM UTC

buzzdenver wrote: post #36

Androider wrote: post #30

Uber doesn't have much of a moat or lock-in effect. I just switched one day from being a frequent Uber rider to 100% using Lyft, simply because I don't like Uber's behavior as a company. The prices are so close it doesn't make any practical difference to me. Anecdotally, among my friends I also see Lyft becoming the default, and sometimes price-checking with Uber. If Waymo or whoever came out tomorrow with a cheaper/…

The reason I'm reluctant to use Lyft is that they do not say beforehand how much my ride is going to be. Edit: I stand corrected. Their UI mislead me because for airport rides the price is only shown after you hit a Confirm button, but that does not order the car as I thought, only takes you to the next screen.

I use Lyft frequently on iOS all over the US, it gives an estimate that tends to be conservative (i.e. high). Do you not see the same thing in your app?

Re: Uber Revenue Slows as Quarterly Loss Surges to $1.1B

#50

Post by dschep » Wed, Nov 14, 2018, 10:35 PM UTC

swozey wrote: post #25

Analemma_ wrote: post #18

Earlier quoted context omitted.

I hate to say I called it but... I called this years ago. Earlier in the decade, even on HN, people were raving about how much better Uber was than taxis because “the cars are so clean!”, and I kept saying, “You know this is temporary, right? And that Uber is only better in this regard because the drivers and cars are new?” Ride-hailing takes an incredible toll on cars, and with Uber pushing more costs into drivers t…

So long as I don't ever have to deal with a cabbie lying to me that his credit card machine doesn't work or they won't drive a short distance I will happily continue using the apps, even if the vehicles have gotten worse (most of my rides lately have been Minivans obviously bought to cab in). That still gives me a much better experience than dealing with their bullshit.

Cabbie drivers lying about their credit card machine is a moot point if your jurisdiction has a decent regulatory body. In DC if they pull that shit, I just get out with out paying as they're not abiding by the law and the dept of for hire vehicles will have my back.