Uber and Lyft generate a lot of negative societal externalities... but strictly as a consumer who needs a ride, Uber/Lyft are 100% preferable to taxis. At least I can be confident they’ll show up if I schedule one. I’d prefer decent public transportation, but sadly that seems to be a no go outside the Northeast corridor.
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.
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.