Uber’s Still Not Profitable
doctorow.medium.com
Uber’s Still Not Profitable
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Re: Uber’s Still Not Profitable
#2It seems really strange to me that Cory Doctorow is using Medium as a blog.
Re: Uber’s Still Not Profitable
#3> Today, the company earns $4.39 per trip and spends $4.69 per trip, narrowing its Q2–2022 operating margin to -8.8% and its net margin to -11.4%.
So the fundamentals still aren’t there.
Edit: for all those who rely on Uber’s go modules, are any of you worried about long term support?
Re: Uber’s Still Not Profitable
#4To add to this, as a German, the future of Uber does not look great in Europe as well. The taxi lobby is strong here, and I’m sure regulations will come in countries like Germany and will affect negatively their business. And they're starting to face stronger competition from other companies like Bolt.
Re: Uber’s Still Not Profitable
#5As a layman, it still blows my mind that giant companies can operate at such a massive loss for so long, seemingly without any road to profitability.
Mobility startups in particular keep failing, and new ones keep getting funded.
My daft question is why? Why do they keep betting on the same losing horse.
I often joke that my humble little website is massively more profitable than a few of those companies combined.
Re: Uber’s Still Not Profitable
#6The exact same text was submitted a month ago here: https://news.ycombinator.com/item?id=32357514
Re: Uber’s Still Not Profitable
#7It seems really strange to me that Cory Doctorow is using Medium as a blog.
his strategy is to maintain a few "core" blogs that are completely under his control, but cross-post across lots of other sites that might have greater reach, but where he has less control.. so it's more a mirror than a blog.
I think the source post for this is at https://pluralistic.net/2022/08/05/a-lousy-taxi#a-giant-aste...
Re: Uber’s Still Not Profitable
#8As a layman, it still blows my mind that giant companies can operate at such a massive loss for so long, seemingly without any road to profitability. Mobility startups in particular keep failing, and new ones keep getting funded. My daft question is why? Why do they keep betting on the same losing horse. I often joke that my humble little website is massively more profitable than a few of those companies combined.
I think it's the "go big, or go home" mentality. Companies with this strategy are all desperate to get global market share. It's obviously a gamble, and one that can pay off.
I think the writing may be on the wall for Uber.
Re: Uber’s Still Not Profitable
#9Would anyone like to give me 32 billion dollars to piss away over 13 years? I think that would be fun as hell.
Re: Uber’s Still Not Profitable
#10As a layman, it still blows my mind that giant companies can operate at such a massive loss for so long, seemingly without any road to profitability. Mobility startups in particular keep failing, and new ones keep getting funded. My daft question is why? Why do they keep betting on the same losing horse. I often joke that my humble little website is massively more profitable than a few of those companies combined.
> As a layman, it still blows my mind that giant companies can operate at such a massive loss for so long, seemingly without any road to profitability.
This is the effects of quantitative easing on our economy. We wanted to hypercharge our economy and encourage investments after the 2008 crash, but now things have become too bubbly. A lot of these companies that exist today are functionally useless / wastes of money / wastes of time for everyone involved.
I feel like the rising interest-rates will fix the problem. The price of "future money" is going up. Just a "little bit of profits" (or even operating for a loss) will be much harder moving forward.