Uber has been in business since 2009, has a current market cap of $43 billion…. But has NEVER been profitable.

[King Kai]

as long as they keep it pushing and we don’t go back to stinky @∴ L'esprit de l'escalier cabs we good

 

[CrimsonTider]

this is by design, the goal of every vc unicorn is infinite growth, not profitability

This is not by design. They Have a terrible business model

 

[tuckgod]

The mere existence of Uber (and it’s derivatives) has increased the profits of millions of businesses and individuals.

It’s a public service at this point and will never be allowed to fail.

 

[badboys11]

Their game plan was never realistic from the start. The goal was to provide rock bottom prices and lose money in an attempt to drive their competitors out of business, which didn't work. Their platform was copied by Lyft along with others. Then, they wanted an entire fleet of driverless vehicles which could still provide rock bottom prices, without the overhead of paid drivers. The whole process was supposed to be complete before the end of last decade. Didn't work.

From my experience, driverless vehicles will never be a mass reality unless you raise the educational level of people as a whole, because there is no way to program a computer that can compensate for the levels of stupidity Americans can provide (three times this year I've witnessed a car crash at full speed into cars that have already collided and have hazard lights on. 3 times)

Then their drivers want to "be their own boss" but also want to unionize and receive benefits, which completely goes against what they signed up for.

I heard a lot of people use the quote "evolve or die" when taxicab companies called out Uber in the very beginning. Uber and Uber drivers might want to remember that phrase

 

[GatorStaceyAdams]

The mere existence of Uber (and it’s derivatives) has increased the profits of millions of businesses and individuals.

It’s a public service at this point and will never be allowed to fail.

I respectfully disagree.

UberEATs charges an astronomical fee (~30%) to its restaurants, so its actually harmed most small restaurants who operated on the old delivery model.

And with regard to public service? If Uber went away, we would go back to using taxi's or drivers. If UberEats went away, we would just use regular delivery man as we did in the past. Uber did not really CREATE any new service, and should hardly be viewed as a utility.

 

[ExodusNirvana]

Ubers goal has been to destroy city Taxi and Livery agencies and replace private car ownership with THEIR vehicles

By causing more traffic and congestion, they give credence to the idiocy that people should'nt own cars

If you live in NYC and are not a bike retard (aka CAC and CAC supporters) you'd be able to peep this

 

[tuckgod]

I respectfully disagree.

UberEATs charges an astronomical fee (~30%) to its restaurants, so its actually harmed most small restaurants who operated on the old delivery model.

And with regard to public service? If Uber went away, we would go back to using taxi's or drivers. If UberEats went away, we would just use regular delivery man as we did in the past. Uber did not really CREATE any new service, and should hardly be viewed as a utility.

That’s only if you focus on that percentage and ignore the volume increase in their customer base.

Zoom your scope out a bit to see the picture a little more clear.

You’re on the right track though, ndugu.

 

[Ethnic Vagina Finder]

In fact the really old ones are still around because they’re too big to fail
IBM needs to die a slow death but they’re in way too many portfolios, have way too many government contracts, and have too much money. But the incompetence going on inside that company is grade A insane

Revenue of $14.2 billion in Q1 2022 was up 8% year on year. By segment, Software revenue rose 12.3% to $5.8 billion, Consulting sales increased 13.3% to $4.8 billion and Infrastructure revenue fell 2.3% to $3.2 billion.

and their market cap is almost 4 times as large as Uber.

 

[humminbird]

Revenue of $14.2 billion in Q1 2022 was up 8% year on year. By segment, Software revenue rose 12.3% to $5.8 billion, Consulting sales increased 13.3% to $4.8 billion and Infrastructure revenue fell 2.3% to $3.2 billion.

and their market cap is almost 4 times as large as Uber.

I wasn't really comparing it to uber I was talking about another problem with tech companies right now.


I just explained why they have that much money. they're grandfathered in just off their name. companies like that have so many connects and contracts that they're too big to fall. but these companies are long dead on the inside. it's literally weekend at Bernie's status. the people they have inside have no clue what they're doing. they're just reading a playbook created 30 years ago. if they were actually forced to compete against Microsoft or apple they would be dead a million times over.

for example one of the things they do right now that makes them money is sell salesforce to other companies.. they're not even selling their own shyt

in fact every time they do try to compete they get laughed at. look at Watson and how they utterly fukked that up.

How IBM’s Watson Went From the Future of Health Care to Sold Off for Parts

Casey Ross on where Watson went wrong and how the industry can learn from IBM’s mistakes.

slate.com

now they're trying to be a tax data/consultant company and compete with Doliette. I already know what will happen there
also the hybrid cloud product. oh boy revolutionary

 

[desjardins]

The long term plan was for them to destroy the taxi industry
Then to automate
Last Uber ride I caught was $50 to go less than 10 miles
Prices are sky rocketing now that you barely see taxis outside of NYC

 

[null]

If you didn’t know what Uber was one would think it was a front for a money laundering operation. They have been cash flow negative since day one with no end in site.

@the bossman

 

[Ethnic Vagina Finder]

I wasn't really comparing it to uber I was talking about another problem with tech companies right now.


I just explained why they have that much money. they're grandfathered in. companies like that have so many connects and contracts that they're too big to fall. but these companies are long dead on the inside. it's literally weekend at Bernie's status. the people they have inside have no clue what they're doing. they're just reading a playbook created 30 years ago. if they were actually forced to compete against Microsoft or apple they would be dead a million times over.

for example one of the things they do right now that makes them money is sell salesforce to other companies.. they're not even selling their own shyt

in fact every time they do try to compete they get laughed at. look at Watson and how they utterly fukked that up.

How IBM’s Watson Went From the Future of Health Care to Sold Off for Parts

Casey Ross on where Watson went wrong and how the industry can learn from IBM’s mistakes.

slate.com

now they're trying to be a tax data/consultant company and compete with Doliette. I already know what will happen there
also the hybrid cloud product. oh boy revolutionary

You kinda contradict your own argument.

On one had, IBM is a dinosaur. A relic from the past that would get washed if they had to got head to head with Apple or Microsoft.

But then you list ways they were able to reinvent their revenue streams to stay profitable. I mean that deserves some recognition no?

 

[Ethnic Vagina Finder]

The long term plan was for them to destroy the taxi industry
Then to automate
Last Uber ride I caught was $50 to go less than 10 miles
Prices are sky rocketing now that you barely see taxis outside of NYC

I think their long term plan was to create a monopoly. Until Lyft came along. The taxi industry was collateral damage.

It also didn’t help that everyone with a car flooded the market and became Uber drivers. That plus competition from Lyft forced them to lower their prices.


Now, it’s probably the lack of taxi cabs and lack of Uber drivers.

 

[null]

From my experience, driverless vehicles will never be a mass reality unless you raise the educational level of people as a whole, because there is no way to program a computer that can compensate for the levels of stupidity Americans can provide (three times this year I've witnessed a car crash at full speed into cars that have already collided and have hazard lights on. 3 times)

driverless cars just need to beat the human safety threshold.

 

[null]