Uber lost more than $800 million in third quarter 2016

[Saiyajin]

Privately held ride-hailing company Uber Technologies Inc [UBER.UL] lost more than $800 million in the third quarter, Bloomberg reported on Monday.

In the previous quarter the company's loss significantly exceeded $800 million, including its Chinese operations, Bloomberg said.

Uber lost more than $800 million in third quarter 2016: Bloomberg

:damnbron:

 

[Wild self]

How did they lose money?

 

[It is a mystery]

They didn't even say why they lost money in the article

 

[DaddyFresh]

I know they take a big hit on fraud. nikkas runnning up Uber with stolen card numbers.

 

[Saiyajin]

They didn't even say why they lost money in the article

uber refused to elaborate

 

[Unknown Poster]

uber refused to elaborate

Uber won't be around in 5 years time. Maybe even 2.
They seem to be a company with a business model that allows for massive losses of this amount...yet they still keep on going.
They won't.
Once their IPO goes public if it already has it will continue to lose steam and eventually will be devalued in terms of the company's worth.

 

[Sonny Bonds]

They pulled out of China a few months back. That had to hurt.

 

[Wild self]

Uber won't be around in 5 years time. Maybe even 2.
They seem to be a company with a business model that allows for massive losses of this amount...yet they still keep on going.
They won't.
Once their IPO goes public if it already has it will continue to lose steam and eventually will be devalued in terms of the company's worth.

Those millions of people without their income from Uber would be to the economy.

 

[Saiyajin]

Uber won't be around in 5 years time. Maybe even 2.
They seem to be a company with a business model that allows for massive losses of this amount...yet they still keep on going.
They won't.
Once their IPO goes public if it already has it will continue to lose steam and eventually will be devalued in terms of the company's worth.

i dont understand how theyre fukkn LOSING money tho

like bruh u dont even need to pay for the fukkin cars

its just a fukkin app tf??

They got 3.5 Billon from Saudi Arabia too..

 

[the cool]

Lyft came through and crushed them buildings

 

[Malta]

Uber won't be around in 5 years time. Maybe even 2.
They seem to be a company with a business model that allows for massive losses of this amount...yet they still keep on going.
They won't.
Once their IPO goes public if it already has it will continue to lose steam and eventually will be devalued in terms of the company's worth.

Nah, they are moving onto phase two which is to get rid of the drivers, once they no longer have to pay for them they'll be fine.

 

[Wild self]

Nah, they are moving onto phase two which is to get rid of the drivers, once they no longer have to pay for them they'll be fine.

Basic income checks have to come. Millions of Uber drivers have to get a decent income somehow.

 

[Malta]

Basic income checks have to come. Millions of Uber drivers have to get a decent income somehow.

That wont be Ubers concern though, they want driverless cars because the car will pay for itself in no time.

 

[Unknown Poster]

Nah, they are moving onto phase two which is to get rid of the drivers, once they no longer have to pay for them they'll be fine.

I see this going two ways.

It works well and the company sees millions in profits....
Or it works terribly (cars crash, money has to be paid out in liabilities, lawsuits, etc.) and they continue to put out almost billion dollar losses each fiscal quarter.

 

[Saiyajin]

Nah, they are moving onto phase two which is to get rid of the drivers, once they no longer have to pay for them they'll be fine.

if they cant make a profit paying drivers shytty wages, without paying for a single car

how will they make a profit after investing so much capital on Self driving cars (expensive af) ??????