Yikes. I knew they’ve hemorrhaged money but I didn’t know it was that much. I ran the numbers once back when their total funding a lot less. And I came to the conclusion that with that money they could have literally paid every cab driver’s salary for a year and given out free rides. But since you need regulators to look the other way, there was enough to literally give every state legislator in every single state a million dollars. And I’m sure it’d take far less. And there was still a sizable chunk left over.

I feel like the startup game for a while now has been… and the numbers are arbitrary but I don’t think the dynamic is wrong… raise about $100 million to get a total of $10m in revenue and then be worth $1b. That’s not business as we think of it.