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Uber Posts $5.2B Loss and Slowest Ever Growth Rate

nytimes.com

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Re: Uber Posts $5.2B Loss and Slowest Ever Growth Rate

#111

Post by Daishiman »

izzydata wrote: post #33
bluetidepro wrote: post #19

Earlier quoted context omitted.

I can't speak to SF, but here in Chicago, they have been gradually getting higher each year. I have consistently taken an Uber to work every morning for about 5 years now, and I used to pay $5-7 for the ride, but now it is $9-12. I will say though, the huge benefit now is their rewards have a "price protection" [1] for some tiers that allow for a cap on that ride price, so I think it can no longer go above $10.99 or…

That seems more expensive than owning a car. Assuming 5 workdays a week and 2 rides per day then that is 40 rides a month on average which could be anywhere from $360 to $480 a month.

But then you have to own the car, which for someone like me who would barely use it aside from an occasional weekend ride just makes little sense as far as the additional concerns of paying insurance, servicing, finding parking space and so on.

Re: Uber Posts $5.2B Loss and Slowest Ever Growth Rate

#112

Post by Scoundreller »

TuringNYC wrote: post #73
hn_throwaway_99 wrote: post #66

Earlier quoted context omitted.

> People were willing to pay taxi rates all along Baloney. The market size of people willing to pay taxi rates for transportation is much smaller that the market sizes currently implied by Uber and Lyft's valuation. Before Uber and Lyft, most people I know would only take taxis very occasionally, for special occasions or emergencies. Once Uber and Lyft started offering such good rates they would use ride sharing much…

Consider pool rides -- which were never part of the traditional offerings. Pool rides from Uber/Lyft lowered cost while expanding the market. Consider all the places where you needed a taxi but wouldnt know how to hail one -- Uber/Lyft expanded the market here. I was recently in Taiwan and needed a ride, but could not describe the address to a driver who did not speak English. Uber to the rescue -- again the market g…

Uber/Lyft are also great when you can expense your trips.

Not having to deal with (local) cash or a constantly “broken” credit card machine are also pluses.

Re: Uber Posts $5.2B Loss and Slowest Ever Growth Rate

#113

Post by ghaff »

boyadjian wrote: post #80

Uber will go into bankruptcy, and it will be the starting point of the next worldwide economic crisis.

What percentage of the US population do you think has taken an Uber in the past month?

From January: "According to a new poll conducted by the Pew Research Center, just 36 percent of American adults say they have used ride-hailing services. Sixty-one percent say they have heard of the services but hadn’t taken a ride."

https://www.wired.com/story/uber-lyft-ride-hail-stats-pew-re...

Heck. I travel lots and it's probably been a few months since I've taken a Lyft or Uber.

I don't think it's as important a company as you seem to think.

Re: Uber Posts $5.2B Loss and Slowest Ever Growth Rate

#115

Post by paxys »

tekno45 wrote: post #103
paxys wrote: post #97

Earlier quoted context omitted.

> and those in place for the safety of the general public. What regulations are these? Is there any case where taking taxis was or is safer for an average customer than Uber?

Taxi drivers had background checks,

Individual taxi companies are in charge of doing background checks on their drivers, same as Uber & Lyft

Re: Uber Posts $5.2B Loss and Slowest Ever Growth Rate

#116

Post by totalthrowaway »

untog wrote: post #7

I really wonder where Uber, Lyft etc. go in the future. Uber in particular seemed to betting hard on the fact that self-driving cars would make them wildly profitable but it seems like that is a long way away yet. And they're still subsiding rides in a lot of markets to make them look a lot more affordable than they really are. I still think there's a market out there, but Uber in particular feels like it's grown too…

I hear this line of thinking a lot, and I still don't understand why Uber would be the one to rake in all the self-driving cash. What do they have that a new self-driving debt-free startup won't have?

Re: Uber Posts $5.2B Loss and Slowest Ever Growth Rate

#117

Post by throwaway082729 »

pastor_elm wrote: post #44

3.9 billion to employees in addition to sky high wages. How to get in on the next Uber?

Uber's cash-based compensation hasn't been that high, has it? A friend of mine who was making $150k base at a public company was offered $115k and purported stock of $500k. He needed the cash so he didn't take that offer. This was back in 2016. Things might have changed since then.

Re: Uber Posts $5.2B Loss and Slowest Ever Growth Rate

#118

Post by jonknee »

paxys wrote: post #107
kgwgk wrote: post #85

Earlier quoted context omitted.

They booked an expense of $3.1bn in R&D last quarter. Even excluding the $2.6bn linked to stock-based compensation it’s $0.5bn per quarter. But of course that includes useful R&D and not just the flying-cars kind.

"R&D" usually includes all engineering expenses on financial reports, which for a company like Uber is the vast majority of operating expenses.

But in this case they clearly don't: Operations and support ($864m), Sales and marketing ($1.2b), General and administrative ($1.6b). They have bloated costs all over. Easy to do when you're the hottest VC backed company around, but the clock is ticking and they'll probably trim a lot of fat.

Re: Uber Posts $5.2B Loss and Slowest Ever Growth Rate

#119

Post by TylerE »

hn_throwaway_99 wrote: post #66
standardUser wrote: post #37

Earlier quoted context omitted.

The difference between taxi fares and Uber/Lyft fares has all but vanished. People were willing to pay taxi rates all along, now they are doing so and getting what is arguably a much better service.

> People were willing to pay taxi rates all along Baloney. The market size of people willing to pay taxi rates for transportation is much smaller that the market sizes currently implied by Uber and Lyft's valuation. Before Uber and Lyft, most people I know would only take taxis very occasionally, for special occasions or emergencies. Once Uber and Lyft started offering such good rates they would use ride sharing much…

At least for me, when I needed one, the issues with taxis was NEVER the cost. It was FINDING one of the damn things.

Re: Uber Posts $5.2B Loss and Slowest Ever Growth Rate

#120

Post by beeneuf »

toomuchtodo wrote: post #94
beeneuf wrote: post #89

Earlier quoted context omitted.

After my experiences having grown up with cabs, I am honestly willing to pay a significant premium to use Uber and Lyft. It is not an understatement to say that I hate traditional taxis. I hate the terrible service. I hate having them refuse fares based on where I'm going. I hate calling to schedule a pickup in advance and the driver just not bothering to show up. I hate being pressured to pay in cash instead of cred…

With all due respect (I can appreciate paying more for quality, I do so myself!), there are not enough of you to justify rideshare valuations (which are based on taking over the world, not being a boutique transportation network for the discerning mobility user).

Agreed, their current valuations cannot be justified. I'd argue the same can be said of most tech companies right now, though. At some point the markets are going to have to acknowledge that taking over the world/infinite growth is just not going to happen for all (or any) of the companies promising it, and some incredibly disappointing and painful market adjustments will have to be made. I am hoping some rideshare companies - or similar competitors - can ride it out and eventually settle into something more realistic with higher fares, because I believe the market is there. I think the world in general needs to start thinking about what it looks like to make sustainable companies instead of cancer-like world-conquering monoliths. It may not be a reasonable dream, though - Uber is definitely too far gone. I'm less certain about Lyft.
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