applied know how
Probably not… but they could destroy a few businesses finding out.
Taking one sector of the US market- business rides. IN the past taxis and rental cars were the dominant players, until Uber came along and destroyed these businesses in business hiring. Back in 2014, taxis and rental cars combined still provided 92% of total reimbursed ground transportation for business travel in the US.… Read more
Here are some of the stories about Uber’s 1Q published results.
https://www.wsj.com/articles/ubers-first-quarter-sales-rise-70-as-it-preps-for-ipo-1527107700 https://www.nytimes.com/2018/05/23/technology/uber-finds-profits-in-leaving-tough-overseas-markets.html https://www.bloomberg.com/news/articles/2018-05-23/uber-shows-a-quarterly-profit-sort-of-thanks-to-grab-deal https://www.recode.net/2018/5/23/17380952/uber-2018-financials-yandex-grab-softbank https://www.ft.com/content/d7ab2be4-5e1a-11e8-ad91-e01af256df68
Profitable … So the headlines claim. But the profit is a one-off gain from selling Uber S E Asia to Grab for shares in this unlisted company which Uber then valued at almost US$3 billion.
Fake news; fake profit.
All stories mentioned that Uber’s reported “profit” was entirely due to the one-time $2.94 B accounting “gain” on the Grab sale.… Read more
Uber’s CEO has resigned, not unexpectedly, but unexpectedly quickly- they also lack a slew of other C-suite operatives, is this a sign that these insiders really did know that Uber had no conceivable path to profitability.
Its business model has been based on a massive internal contradiction: using a ginormous war chest to try to achieve a near-monopoly position in a low-margin, mature business that is fragmented geographically and locally.… Read more