https://arstechnica.com/cars/2019/08/uber-freezes-engineering-hires-amid-mounting-losses/?amp=1
Nah .. uber is probably most disruptive company of last decade. It’s here to stay
So was MoviePass until Wall Street got tired of them losing money
I feel Uber is investing in right areas wrt to future specially self driving cars. I think they’re losing money or some good R&D and not just operational overheads
Expect Uber to cost more, on par with Lyft.
I’m glad someone is doing a hiring freeze, it’s irritating when companies start hiring hundreds of new employees when it seems like there is no critical need
They destroyed...sorry, disrupted...taxis. Now, they'll charge customers like the taxis did, with the bonus feature of surge pricing. Awesome innovation.
I guess you forgot how bad the taxi was? Hard to get, no ETA, unclear route and charge, horrible driver. My dislike of taxi was 0 to do with its price
No, I didn't. I'm claiming that Uber hasn't solved the problem, but just took their place instead.
To be fair, 5.3B loss includes 4B one time IPO costs and related compensation. The business grows nicely - 34% increase on Gross Booking (it’s not little on the amount of 50B). The 14% revenue growth is due to pricing incentives and strong US dollar which impacts us a lot more than regional competitors like Lyft
For comparison, Google's revenue grew at 22% in the last quarter. They're also affected by USD. Gross Booking overstates the impact of markets like India. The equivalent for Google would be clicks - which I promise you are growing much faster than revenue. FB grew revenue at 28%
GB and clicks are not comparable. The former still needs money to be spent and doesn't overstate India at all. So yes, India may contribute hell lot in your daily users for FB but I am sure revenue wise the share would be quite low. Also, at constant currency and taking out one time drive reward, ANR grew over 20% and guidance is 30% plus for rest of the year.
End game coming during Thanksgiving when they cash out RSUs.