Uber’s First Earnings Report After I.P.O.: $1 Billion Loss

[JEDI]

https://www.nytimes.com/2019/05/30/technology/uber-stock-earnings.html

The size of the losses has raised questions about how viable ride-hailing can be as a business.


oh well, it was good while it lasted

 

[The Sauce]

Cash burn is expected this early on. The balance sheet is supposed to look crappy. They beat expectations. Not concerned.

 

[Captante]

Soon as they have to start really treating drivers as employee's things are going to get ugly. I very much doubt they'll go tits-up but fares will be much higher.

 

[Dr. Detroit]

Soon as they have to start really treating drivers as employee's things are going to get ugly. I very much doubt they'll go tits-up but fares will be much higher.

The "gig" economy is not good for our population but these folks will soon be automated out of jobs. That is what Uber is banking on to increase their margins - self driving car technology which they are investing heavily in.

https://www.msn.com/en-us/news/us/b...on-valley-companies-for-wage-theft/ar-BBTnGx3

 

[BudAshes]

I think the government should heavily subsidize uber to get the old people off the roads. If you are over 70 that shit should be free. Also if you suck at driving it should be free.