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.
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.