Uber Lays Off 400

Post by sjg007 » Tue, Jul 30, 2019, 2:36 PM UTC

komali2 wrote: post #165

cosmodisk wrote: post #123

Earlier quoted context omitted.

It's not profitable because every single restaurant does it for itself only.A post office service would never make a dime if it was only covering a small town.Scale it up to the entire city and it becomes very interesting

Back in frontier west, outside US territory (and therefore not served by the Post Office Department or the Pony Express), people would set up highly profitable transportation companies. These companies would make deliveries for local shops but also carry mail, bringing stuff to somewhere served by the Post Office Department or the Pony Express or the Wells Fargo freight routes. I read all this in a book ages ago but…

Post by rlanday » Tue, Jul 30, 2019, 3:12 PM UTC

davewritescode wrote: post #179

omarhaneef wrote: post #41

Earlier quoted context omitted.

The best way to understand this is to look at their financial statements: https://investor.uber.com/news-events/news/press-release-det... Generally, you would go to the 10-K to get a quick snap shot. I direct you to look at the "CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS" You can see that they made about 1.4B (in Q1) after paying the drivers but then they spent 2.2B on: Operations and support, Sales and marketin…

Agreed, but like others have pointed out “marketing” includes marketing to drivers with incentives to drive. They’re not running advertisements they’re subsidizing rides on the driver and passenger side and calling it part of their marketing spend. The problem with Uber is that their technology isn’t that innovative and their platform isn’t that sticky.

Post by colinmhayes » Tue, Jul 30, 2019, 3:49 PM UTC

quickthrower2 wrote: post #214

colinmhayes wrote: post #208

Earlier quoted context omitted.

What happens when the consumer realizes this drug dealer has jacked up prices because they're giving product away? They go to the corner and find a cheaper alternative.

Uber wants to be the only dealer in town.

Post by selectodude » Tue, Jul 30, 2019, 5:02 PM UTC

williamDafoe wrote: post #223

selectodude wrote: post #203

Earlier quoted context omitted.

100 percent of their income goes to the car until its paid off for that month, and the interest rate they charge to lease the car is downright usury. $200/wk to rent a Hyundai Elantra that Hyundai leases out at under $200/mo.

Not exactly true. If you drive full-time for Lyft or Uber you MUST change the oil of your car EVERY MONTH. Leased Hyundai's don't see that kind of stress until a year goes by so the Lyft/Uber car is getting destroyed at least 4x more quickly.

Post by [deleted] » Tue, Jul 30, 2019, 6:29 PM UTC

jcims wrote: post #98

Scoundreller wrote: post #91

Earlier quoted context omitted.

There's a network effect component for shared/pooled rides. Upstarts will lose a lot if they offer shared prices without matched riders.

Do that many people share rides with strangers in Uber? I never have.