Re:Heavy electric trucks cheaper than diesel goods trucks
by johnchristopher on Monday May 29, 2023 @01:17PM
(#36115898)
Thanks, I bought into the uber for free because of vc money meme.
Re:Heavy electric trucks cheaper than diesel goods trucks
by mywittyname on Monday May 29, 2023 @01:31PM
(#36116050)
Translation: you can't argue against me with facts so you make fun of me.
Re:Heavy electric trucks cheaper than diesel goods trucks
by johnchristopher on Monday May 29, 2023 @01:37PM
(#36116102)
> Translation: you can't argue against me with facts so you make fun of me.
I am not following. I didn't mean to make fun of you, I honestly thanked you for correcting my warped vision of Uber's VC situation. Sorry if it sounded ironic or aggressive.
Re:Heavy electric trucks cheaper than diesel goods trucks
by gamblor956 on Monday May 29, 2023 @02:01PM
(#36116315)
You weren't wrong. Prior to going public, Uber relied on VC money to make the unit economics work. The unit economics now work (Uber doesn't lose money on every ride) but Uber is still losing money.
It's also not true to say that Uber's loss is due solely to R&D, since R&D only represents $1 billion in expenses, per Uber's 2022 annual report and their Q1 financials. Uber would still be unprofitable even if it did no R&D, since it has very large G&A, marketing costs, and CORS (cost of revenue).
Uber makes a gross profit of over $12 billion on a revenue of nearly $32 billion. They lose money on paper because they keep reinvesting profits and further investments back into the business. They've almost doubled revenue YoY.
So even the most ludicrous SV startup you can think of pulled this off.