For Uber and Lyft, the Rideshare Bubble Bursts

Re:For Uber and Lyft, the Rideshare Bubble Bursts by paulpauper on Sunday October 17, 2021 @03:44PM (#28899170)

lol Uber stock at $48, still well above the IPO. Journalists have been calling for the demise of Uber forever. They need to find a new hobby. Forecasting is not for them.

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Re:For Uber and Lyft, the Rideshare Bubble Bursts by smt88 on Sunday October 17, 2021 @07:34PM (#28900695)

> Forecasting is not for them.

If you'd read the article, you'd know it was a review of all the forecasts made by Uber and Lyft. The journalist didn't forecast anything.

So I guess your comment should say:

Uber and Lyft need to find a new hobby. Forecasting is not for them.

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Re:For Uber and Lyft, the Rideshare Bubble Bursts by nuerow on Monday October 18, 2021 @01:40AM (#28902564)

> lol Uber stock at $48, still well above the IPO. Journalists have been calling for the demise of Uber forever. They need to find a new hobby. Forecasting is not for them.

The article mentions that so far Uber has burned through over $20 billion since 2009 and still hasn't turned a profit.

The article also points out that Uber and Lyft's own projections didn't showed a profit this year.

Unless you expect a company to be perpetually kept afloat by generous millionaire investment rounds, either the cash flow adds up or the current trajectory points to bankruptcy.

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Re:For Uber and Lyft, the Rideshare Bubble Bursts by skinnymuch on Sunday October 17, 2021 @05:30PM (#28899967)

Look at Doordash’s stock. It’s remarkably close in market cap to Uber. Right now it’s around 3/4.

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