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Uber Posts $708M Loss as Finance Head Leaves

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Re: Uber Posts $708M Loss as Finance Head Leaves

#111

Post by ac29 »

shaggerty wrote: post #67
skinnymuch wrote: post #54

Earlier quoted context omitted.

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.

Both Uber and Lyft are integrated into Google Maps on Android.

Re: Uber Posts $708M Loss as Finance Head Leaves

#112

Post by imjk »

BurningFrog wrote: post #70
bo1024 wrote: post #22

If 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?

Advertising and expanding around the globe would be a good place to start. It's not cheap to find/put top-notch staff on the other side of the world to expand a business, open offices, recruit drivers and customers, etc.

Re: Uber Posts $708M Loss as Finance Head Leaves

#113

Post by neom »

bpodgursky wrote: post #13

$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…

It depends. They have a printing press. So, do you consider their taxi business the printing press on the way to create the ATM or the Bank?

Re: Uber Posts $708M Loss as Finance Head Leaves

#114

Post by lhorie »

tw04 wrote: post #108
skinnymuch wrote: post #54

Earlier quoted context omitted.

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…

While anecdotes are clearly anecdotal - the entirety of my company has started switching. The constant bad press, and quite frankly the CEO being such a jerk has been enough to get my colleagues to almost universally switch. The cost difference is about 3rd on the list of priorities for most business users.

Just thought I'd point out that, in addition to name calling not being very nice in general, it's particularly in poor taste right now given that the person in question is grieving a family death that happened just this weekend[1]

[1] http://money.cnn.com/2017/05/27/technology/uber-travis-kalan...

Re: Uber Posts $708M Loss as Finance Head Leaves

#116

Post by [deleted] »

skinnymuch wrote: post #54
lettergram wrote: post #16

Earlier 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…

[deleted]

Re: Uber Posts $708M Loss as Finance Head Leaves

#117

Post by SkyMarshal »

objclxt wrote: post #39
bpodgursky wrote: post #13

$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. Prices don't have to rise 20% to break even, prices have to rise 6% No, they have to rise by more than that. Your math is technically correct (a 6% rise gives you an extra $700 million), but you are assuming that the price increase goes entirely to Uber. There is no way Uber can increase prices by 6% and give none of that upsi…

Do Uber drivers even see the fair that is charged their passengers? If not, then it's not clear Uber can't keep most or all of a 6% price increase without losing drivers to Lyft.

Re: Uber Posts $708M Loss as Finance Head Leaves

#118

Post by Arizhel »

douche wrote: post #78
Arizhel wrote: post #72

Earlier quoted context omitted.

You could just not get drunk...

Haha, that is always an option... but I'd rather the drunks be able to use an app to get home, than fight the larger, and largely self-defeating battle of trying to convince or cajole people into not getting out of their heads.

I agree that trying to convince everyone to not drink and drive isn't likely to be successful, it's just that I thought from your comment that you were saying that you got drunk and had to deal with getting home. Sorry if I misunderstood.

Re: Uber Posts $708M Loss as Finance Head Leaves

#119

Post by goodladjohnny »

dang wrote: post #98
korzun wrote: post #32

> 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. You are 'literally' watching Uber take a 'dramatic' hit. Okay. Extremely price competitive market, yet you only mention Lyft. > Lyft came to town and probably 80% of the drivers solely use them now, driving up the Uber prices. Where did you get your numbers from? Just making s…

Commenting this uncivilly will get your account banned on HN, so please don't do that, and please in particular don't accuse other users of astroturfing just because you happen to hold a different view than they do. It's a popular internet trope but it isn't allowed here. We detached this comment from https://news.ycombinator.com/item?id=14456973 and marked it off-topic.

That said, harsh — maybe, but @korzun still has a point.

Original comment is (clearly) biased and doesn't align with the actual facts. I wonder why it got upvoted in the first place.

I don't think the accusation has been made because "one happens to hold a different view". It is harsh, but to be fair, OP failed to make a valid point.

Re: Uber Posts $708M Loss as Finance Head Leaves

#120

Post by [deleted] »

BurningFrog wrote: post #70
bo1024 wrote: post #22

If 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?

[deleted]
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