Uber Posts First Quarterly Net Profit of $394M

Re:Uber Posts First Quarterly Net Profit of $394M by smcl on Wednesday August 02, 2023 @03:21AM (#36967994)

They invested a tonne of money in self-driving vehicles. If they didn't intend to utilise them then what on earth were they doing, lighting money on fire for fun?

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Re:Uber Posts First Quarterly Net Profit of $394M by thworp on Wednesday August 02, 2023 @04:45AM (#36968534)

Lighting money on fire to increase valuation. Getting a cab dispatch service to get valued at insane multiples was a master stroke.

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Re:Uber Posts First Quarterly Net Profit of $394M by adeelk93 on Wednesday August 02, 2023 @05:59AM (#36968895)

Uber sold off that division years ago, and is no longer focused on self-driving

https://arstechnica.com/cars/2020/12/uber-sells-self-driving...

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Re:Uber Posts First Quarterly Net Profit of $394M by smcl on Wednesday August 02, 2023 @06:10AM (#36968948)

Weird, I remember a lot of talk around that time of self-driving cars being their future and the reason why they had such a sky-high valuation. Guess I missed this news mid-Covid

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Re:Uber Posts First Quarterly Net Profit of $394M by harambae on Wednesday August 02, 2023 @04:59PM (#36977331)

> no longer focused on self-driving

Not quite. More like they're partnering with others and staying internally focused on their core competencies, like any good company does.

Section "Get to know our autonomous partners" https://www.uber.com/us/en/autonomous/

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