Uber

[tlombard]

Maybe someday somebody can explain to me how Uber is worth that much and I'll understand it but until then, I just don't get it. Half of the time it seems to me like they are worth that much because they (or somebody) says they are and that's the entire basis. The company I work for had actual $2+ Billion on sales per year with a 50 year track record of increasing sales and consistent profitability along with actual physical assets in multiple countries and we only sold for $17 Billion.

[pioneer98]

Uber Data And Leaked Docs Provide A Look At How Much Uber Drivers Make

Uber says that its drivers are as much its customers as its passengers are, and that its ride-hail platform is a path to personal freedom and financial independence. In 2013, the company told the Wall Street Journal that the “typical” Uber driver takes in more than $100,000 in annual gross fares. (Uber now disputes this characterization.)

More recently, Uber chief adviser and board member David Plouffe has touted the ride-hail platform as a pathway to a modest, more attainable American dream. But according to leaked internal price modeling data, and Uber’s own calculations provided to BuzzFeed News in response to that leak, drivers in some markets don’t take home much more than service workers at major chains like Walmart when it comes to net pay.

But some of the chain employees get benefits.

[pioneer98]

Size

[SHOW]

[pioneer98]

Uber Loses at Least $1.2 Billion in First Half of 2016

The ride-hailing giant Uber Technologies Inc. is not a public company, but every three months, dozens of shareholders get on a conference call to hear the latest details on its business performance from its head of finance, Gautam Gupta.

On Friday, Gupta told investors that Uber's losses mounted in the second quarter. Even in the U.S., where Uber had turned a profit during its first quarter, the company was once again losing money.

In the first quarter of this year, Uber lost about $520 million before interest, taxes, depreciation and amortization, according to people familiar with the matter. In the second quarter the losses significantly exceeded $750 million, including a roughly $100 million shortfall in the U.S., those people said. That means Uber's losses in the first half of 2016 totaled at least $1.27 billion.

Subsidies for Uber's drivers are responsible for the majority of the company's losses globally, Gupta told investors, according to people familiar with the matter. An Uber spokesman declined to comment.

[go birds]

uber has roughly $10 billion at its disposable and continues to f*ck its drivers in the ass and scare the sh*t out of women.

thats america baby

[Joe Shlabotnik]

uber has roughly $10 billion at its disposable and continues to f*ck its drivers in the ass and scare the sh*t out of women.

thats america baby

They only wish they had some drugs they could price fix and push on the drivers they refuse to pay well. That would be awesome.

[tlombard]

I noticed last week that for some reason I was paying way more for my Uber rides all of a sudden. Of course I was drinking during each of the inflated rides. Finally the other day I noticed that the selection when I went to book was on Black Car instead of Uber X. Ugh. I'm an idiot. Suddenly prices went back to normal when I switched it back. I'm sure I accidentally tapped in the wrong spot one night after drinking and changed that. They really need to make it default back to Uber X or at least confirm that you really want to take the more expensive option. Especially since I've had one guy both with X and Black as well as the same types of cars so I didn't even realize that anything was up.

[go birds]

an easy way to tell the difference between the two, even when youre sh*t-housed, is that BOTH of the headlights on Black cars work.

[tlombard]

an easy way to tell the difference between the two, even when youre sh*t-housed, is that BOTH of the headlights on Black cars work.

Well played. Somehow I never saw this response until I came here to make another post.

I'm asking this seriously because I don't understand and hoping that somebody can clue me in... how is Uber losing so much money? They say that they lose money on every fare. That makes no sense to me. Are their overhead costs that much? They claim that each ride costs more than they charge which is insane since they don't pay for the gas, the driver only gets a portion so they can't be paying out more per ride than it costs unless the overhead costs are well above what they collect in total.

I know the IT infrastructure can't be cheap but can it really cost that much that they can't turn a profit? is the real issue what they pay the executives? Do they spend all of their money with legal and PR fees trying to convince the world that they shouldn't have any responsibility over anything other than collecting their money? Seriously, how much are they going to spend in California to try and avoid just paying the stupid $150 fee for a permit?

[Transmogrified Tiger]

They do have some significant structural costs(they have to fight a lot of legal battles in various markets), but the larger reason is that they are intentionally losing money so they can gain market share. Their war chest is bigger than any competitor's, so they can wait them out and continue to expand while not worrying about making money on each ride yet.