Re: Uber, Lyft, and traffic
Posted by bodhipooh on 2017/1/8 18:33:53
Nah... Uber is playing the long game. They can afford to operate at a loss because of their very deep pockets that have benefitted from massive capital backing. They will continue to push into the autonomous car segment pushing research and innovation, while also battling Lyft and other competitors. Amazon ran major deficits for well over a decade, almost 20 years really, and it has done just fine.
That's Amazon, but Uber will go bankrupt. The investors will get screwed but the people who run the company won't as they are setting this to happen so that the company goes under, eliminates its debts, then they buy back the stock at a low price, and Uber is then bought by another company and moves into driveless cars. Oh thanks to all you who tip, since you will get 5 stars from the drivers it's always faster for you to get a ride due to your customer rating.
Oh, yeah... I forgot you are the former Uber driver with an axe to grind.
Nice (conspiracy) theory you got there, buddy. Despite the fantasy you are selling here, the story behind Uber and its cash reserves is well documented. With over $15 billion cash on hand, they can continue to lose 3 - 4 billion a year and make it past 2020 without problems.
NY Times article on their cash reserves and future plans: http://www.nytimes.com/2016/06/21/bus ... eps-raising-billions.html
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