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Old 08-08-2019, 03:52 PM
 
Location: Houston, TX
14,788 posts, read 8,602,405 times
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Despite gaining 31% more riders, Uber has been steadily losing money since its IPO announcement.

Uber Posts $5.2 Billion Loss and Slowest Ever Growth Rate https://nyti.ms/33lj9SN
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Old 08-09-2019, 04:19 AM
 
Location: Pennsylvania
12,865 posts, read 4,349,787 times
Reputation: 10168
Quote:
Originally Posted by Scooby Snacks View Post
Despite gaining 31% more riders, Uber has been steadily losing money since its IPO announcement.

Uber Posts $5.2 Billion Loss and Slowest Ever Growth Rate https://nyti.ms/33lj9SN
You have to have something pretty special going on, to lose 5 billion dollars.

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Old 08-09-2019, 03:22 PM
 
Location: Ohio
20,115 posts, read 14,354,321 times
Reputation: 16317
Quote:
Originally Posted by Scooby Snacks View Post
Despite gaining 31% more riders, Uber has been steadily losing money since its IPO announcement.
So?

I have no sympathy for morons who were stupid enough to buy Uber stock. The whole concept of buying stock in a cab company is stupid.

That's their problem, not mine.

You don't need a BA/BS in economics, marketing, finance, accounting, supply chain management or anything else to figure out that once the market is saturated, that's it: Game Over.

There's a finite number of people who will ever use a taxi service no matter how much money is spent on slick advertising.

Anyone who thinks people are going to stop driving to work and pay an Uber driver to take them back and forth probably shouldn't be allowed near money.

I've never met an Uber driver, but I have talked to a couple of Lyft drivers, and apparently, it is easy to game the system, meaning the driver gets more money.

One Lyft driver told me if he has an airport run, he'll say the person never showed, and then drive 3 people to the airport at $25 each ---$75 -- which is the going rate here and pocket the money. (the Greater Cincinnati Airport is actually in Boone County, Kentucky which is confusing to passengers who think they're in Cincinnati when not only are they not in Cincinnati they're not even in Ohio and Cincinnati is 30 miles away across the river and there's no public transportation).

Bread & Butter for taxi drivers here are "day rides." I don't know what they call them in other places, but these are people who taxi to work and ride the bus home.

That's usually because the buses don't start running in time to get to work on-time, or they have responsibilities like children, and after taking care of the children, there's no way a bus will get them to work on-time.

It's usually only a $6-$12 fare, but you got two or three of those a day, and that's a pretty steady income.

Some Lyft drivers do those "off the books" and I'd imagine smart Uber drivers do the same.
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Old 08-09-2019, 03:38 PM
 
15,792 posts, read 13,693,014 times
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Depends on the reasons for the loss.

If aggressively expanding, investing in operations, certain expenses, etc, then understandable, if not expected and desired.

As for the growth rate, they are going to be hitting a ceiling in easily accessible markets where growth is going to grind slowly.
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Old 08-10-2019, 04:07 AM
 
72,626 posts, read 72,480,100 times
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we were in the villages in florida checking it out ..we wanted to use uber to take us to a theater within the village and pick us up at 10:30 pm ...

they had only two uber drivers in the area and both said they don't work after 9 pm .

the area has no need for lyft or uber since everyone drives or has friends who do. the villages are a 130,000 people community ....

even cabs said they close at 8:30 pm ...so we did not got to the show .
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Old 08-10-2019, 06:08 AM
 
838 posts, read 382,815 times
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Quote:
Originally Posted by mathjak107 View Post
we were in the villages in florida checking it out ..we wanted to use uber to take us to a theater within the village and pick us up at 10:30 pm ...

they had only two uber drivers in the area and both said they don't work after 9 pm .

the area has no need for lyft or uber since everyone drives or has friends who do. the villages are a 130,000 people community ....

even cabs said they close at 8:30 pm ...so we did not got to the show .
Shocking you guys taking take a Golf cart!
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Old 08-10-2019, 07:15 AM
 
72,626 posts, read 72,480,100 times
Reputation: 50181
Quote:
Originally Posted by JPrzybylski07 View Post
Shocking you guys taking take a Golf cart!
we had a golf cart , but it was to far , to dark and those roundabouts when you don't know them can be mind blowing ... the villages are 40 sq miles so there is a lot of mileage between some places
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Old 08-10-2019, 09:10 AM
 
5,381 posts, read 2,858,977 times
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The villages are not an accurate representation of a Uber coverage map during nights compared with any other populated US city. The average dinner time in the villages has to be 4pm.
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Old 08-10-2019, 09:30 AM
 
72,626 posts, read 72,480,100 times
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Quote:
Originally Posted by SWFL_Native View Post
The villages are not an accurate representation of a Uber coverage map during nights compared with any other populated US city. The average dinner time in the villages has to be 4pm.
heck , we have an uber 2 minutes away around the clock here in nyc . other areas is a lot more baron ...

we went to a plantation about 20 miles from our hotel in charleston sc ... we took uber but when it came time to go home , not one uber .. we ended up calling our hotel who made arraignments with a car service .

so my point is lots of areas have few uber but don't need uber .

Last edited by mathjak107; 08-10-2019 at 10:06 AM..
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Old 08-10-2019, 09:58 AM
 
9,956 posts, read 4,661,602 times
Reputation: 12928
Uber has always played with house money and has never had to be financially accountable.
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