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Re:Uber Posts First Quarterly Net Profit of $394M by fullshark on Tuesday August 01, 2023 @11:29AM (#36957297)
If the investors have turned bearish on Uber they have give or take 10 years to sell that "funny money" at a profit. I'm sure many have and again, my primary point is that for our industry, for the large range of possible outcomes, Uber is a success. Once you understand that, a lot of decisions VCs make and certainly did make in the low interest rate environment from 2010-2022 make a lot more sense.
Re:Uber Posts First Quarterly Net Profit of $394M by moralestapia on Tuesday August 01, 2023 @11:45AM (#36957559)
Funny money != cash, once you understand that, the demise of a lot of these "successful" companies like Uber will make a lot more sense.

Uber is not profitable until money out > money in, period (and we are forgiving them interest + inflation).

Even if a couple investors were able to flip the stock and made some money out of what seems to be a scam with extra steps, that still doesn't make Uber profitable, and they're still far from being a success, IMO.