Thursday, August 25, 2016

Uber is Losing $2 Billion a Year. That’s Not Sustainable.

This morning both Point Me to the Plane and One Mile at a Time expressed some shock that Uber lost $1.2 billion in the first half of the year.

They’re spending a lot to subsidize drivers as they grow aggressively into markets. They keep prices low, but guarantee income. They want to onboard drivers so there’s always a car available when customers pull up the Uber app — otherwise customers in a new city will get frustrated, and not use them again.

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