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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

#431

Post by xeromal »

vasco wrote: post #342
apta wrote: post #320

Earlier quoted context omitted.

Question is, which cab app are you going to download, especially when you're traveling? If you use Uber/Lyft (especially the former), you're practically guaranteed that you'll be able to use it at your destination.

Lyft only operates in the US, so that seems like it's not true at least for one of the two.

Most of American's day to day travel is in the US though. The majority of us "might" travel outside the US for a week or two, but otherwise it's safe to say lyft is in the city you're traveling to.

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

#432

Post by mikeg8 »

toasterlovin wrote: post #53
_bxg1 wrote: post #28

Fully self-driving cars hit a wall (no pun intended), and that was their only story for eventual profitability. Not surprising.

FWIW, I don’t think self driving cars would have made them a good business. Once you no longer need drivers, all you’re doing is deploying a fleet of automobiles. We already have companies that do this: taxi services and auto rental companies. They’re shitty, low margin businesses with tons of competition. The promise of Uber was being a monopoly because they were first mover on a market with network effects. Much li…

>... in needing to attract both drivers and riders.

The are not trying to attract drivers at all, they are trying to eliminate them. The drivers portion of the fair is the largest cost so removing drivers increases margins overall. Self driving cars are the only way this is a good business - which is why there is so much competition from many of the smartest innovators/investors in the world.

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

#433

Post by Scoundreller »

inferiorhuman wrote: post #403
nradov wrote: post #136

Earlier quoted context omitted.

Uber and Lyft can now feed receipts directly into corporate expense reporting systems which is a major time saver for frequent business travelers.

I found that if I used my corp card, transit stuff was automatically categorized just fine.

It’s getting your taxi driver to take your card in the first place that can be an issue. I guess they’re high risk merchants and pay high rates?

Then you may require the actual receipt for your expense. Sometimes the Corp wants more than a credit card invoice for their accounting.

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

#434

Post by orangecat »

johnday wrote: post #290
ekr wrote: post #287

Earlier quoted context omitted.

> In some cases, no jobs is better than subsistence/dead- end/exploitative jobs. At least the former makes the problem evident, and ups the pressure to do something about it on a society/policy/economy level -- as opposed to helping perpetuate it. I strongly disagree with this position. Yeah, sure, supporting people at the brink of poverty is one of the government's responsibilities, but taking away one of the few op…

We have seen what happens when someone who should receive Government protection is able to get by without them; those protections are removed. See the hospitality industry for an example. They have tips, so they don't get minimum wage. The US government is famously bad at protecting people who need it. Anything which disguised that fact, even a little, should be removed.

We have seen what happens when someone who should receive Government protection is able to get by without them; those protections are removed.

If somebody is capable of providing for themselves, why "should" they be dependent on government services?

They have tips, so they don't get minimum wage.

Employers are required to make up the difference if tips don't reach minimum wage.

Anything which disguised that fact, even a little, should be removed.

Should be ban inexpensive food because it's just disguising how bad the government is at taking care of hungry people?

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

#435

Post by malandrew »

nugget wrote: post #406
aresant wrote: post #74

Earlier quoted context omitted.

To qualify your comment: The line item in Uber's results you want to look at here is "Excess Driver Incentives" which covers: "Cumulative payments to a Driver could exceed cumulative revenue from a Driver as a result of Driver incentives or when the amount paid to a Driver for a Trip exceeds the fare charged to the consumer." What's really interesting here is that year over year this number went down substantially ($…

One of the big outstanding macro questions is how these businesses perform in a recession. If (or when) an inevitable contraction occurs, how quick are millennials to trade a daily uber eats habit for weekly groceries and meal prep at home.

This industry has already been exposed to a recession. You just need to let your mind think beyond US borders.

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

#436

Post by TrackerFF »

pembrook wrote: post #376
TrackerFF wrote: post #337

Earlier quoted context omitted.

Must be a US thing - in Scandinavia you always call the taxi company, and they'll send you a taxi - with time and price estimate. It's been like that since forever.

In Scandinavia though (at least in the big cities), you'll be picked up in an unnecessarily top-of-the-line Mercedes Sedan and expected to pay $75 for a 20 minute ride. Also be sure to call the night before if you're trying to catch a flight in the morning! Otherwise you might find yourself on hold. Luckily the excellent public transport makes up for it. But there are still many scenarios where Uber is a welcome addi…

This is true. Cabs can be _very_ expensive here.

A 10 min drive can easily cost you $40 - and lots of people do take the taxi when going out / downtown during weekends. Even more so when they're heading back home.

We do have public transportation, like night busses that drive every 30 / 60 mins, and through the most populated routes.

But still, we do have pirate / illegal taxis. Basically young adults that will drive you wherever for half the price what a taxi would take.

But yeah, it feels that we simply use taxis a lot less over here. It's mostly traveling people, older folks that aren't mobile enough, and similar.. and of course the hordes of people going to and from downtown during weekends.

People are very good at using public transportation.

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

#437

Post by JMTQp8lwXL »

Shivetya wrote: post #316
coldtea wrote: post #95

Glad they're down, and hope the whole "gig economy" burns down too. Where gig economy = padding the loss of decent jobs by replacing the bottom end with desperate deals where "non employed" employees, without regular salary, benefits, company provided work tools, etc., make a pittance, while the organizing company gets a cut from millions of transactions. In some cases, no jobs is better than subsistence/dead-end/exp…

I know of no one who drives for Uber/Lyft who doesn't think they are doing well. Seriously, where did this meme come about where they are all slaves to Uber? Between what two bring in each week and their mileage deductions they are tempting me at times. the real tripe in the gig economy is all the pontificating coming down from top how they all care about rights of people, except it only is Western people they care a…

> I know of no one who drives for Uber/Lyft who doesn't think they are doing well.

Maybe because they didn't do the math on the depreciation of the vehicle + maintenance + car insurance with ride-sharing waivers vs. the income they receive from ride sharing. Then maybe we'd see a different opinion from drivers.

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

#438

Post by pbreit »

rainyMammoth wrote: post #8

Uber and lyft are both on the way down. The price at which they need to operate to be profitable is not a price that most americans are ready to pay. As simple as that. For now they delay this reality by subsidizing rides in order to generate business. In some cities like San Francisco, most incentives were removed and among my friends we all stopped using Uber (unless we really have to). It simply became way too exp…

To figure out Uber's core business economics look at Lyft's Contribution Margin which rose to 46%. Uber's, which includes a lot more immature markets, went back positive to around 9%.

ie, core business prints money.

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

#439

Post by rreichman »

rainyMammoth wrote: post #8

Uber and lyft are both on the way down. The price at which they need to operate to be profitable is not a price that most americans are ready to pay. As simple as that. For now they delay this reality by subsidizing rides in order to generate business. In some cities like San Francisco, most incentives were removed and among my friends we all stopped using Uber (unless we really have to). It simply became way too exp…

What’s the alternative? Owning a car? Walking? The terrible transit?
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