Re:Uber's Still Not Profitable
by aetherson on Sunday August 07, 2022 @05:39AM
(#32375140)
This article's tone is so over the top negative that I think it hurts its credibility. Most of its criticisms are directionally valid, but overstated.
If you dig down into the source that this article is based on ( https://www.nakedcapitalism.com/2022/08/hubert-horan-can-ube... ), which is also pretty grumpy in tone but not quite as over the top, I think what you see is that Uber has genuinely improved its finances materially -- it's not all accounting tricks.
But it's still hard to see how Uber gets from here to the kind of sustainably significantly profitable place it will need to get eventually in order to justify its valuation.
If you dig down into the source that this article is based on ( https://www.nakedcapitalism.com/2022/08/hubert-horan-can-ube... ), which is also pretty grumpy in tone but not quite as over the top, I think what you see is that Uber has genuinely improved its finances materially -- it's not all accounting tricks.
But it's still hard to see how Uber gets from here to the kind of sustainably significantly profitable place it will need to get eventually in order to justify its valuation.