Aside from luring blue collar’d livery drivers into their ranks in order to finance a project of autonomous cars which will one day render their employees jobless, the scourge that is Uber is also booking tremendous quarterly losses, as their insatiable greed extends without boundaries. I’ve never seen a company try to expand its footprint so rapidly, without a care in the world for the profitability of its business.
Uber is obsessed with growth and doesn’t give a shit about anything else.
For the first 9 months of 2016, they lost more than $2.2b or $8,029,000 per day. In the third quarter alone, they bled out to the tune of $800m.
However, they’re on pace to do $5.5b in sales this year — stretching its valuation to an absurd $69b, placing its price to sales ratio at 12.5x.
The details of their losses are sketchy. But we do know losses seem to be accelerating from $580m in Q1 to $800m in both Q2 and Q3. Couple this with the fact that the company has been outed for spying on its customers, and I’d prefer to never use this low, rotten, company ever again.
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It is the Internet of things therefore it must be good!
Reminds me of Amazon this went on for years
Probably one of the greatest services I’ve ever used. Cabs here suck, and barely ever show up. Can have an Uber at my house in 3-5 minutes. Tech will replace everyone’s jobs. Manufacturing, truck drivers, cashiers etc. It sucks, but nothing we can do about it.
I agree. And you don’t get some Muslim fuck screaming at you about religion, drinking etc driving like a fucking maniac
Once everyone’s job is replaced we will have our own ISIS in Amerika. We should be so lucky.
They are banned in Austin now.
Are Uber convenience customers thinking about their future?
Once the jobs thin out then we will enact
free money for all.I think $1500. a month
should do it