this post was submitted on 20 Apr 2025
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Is uber not profitable?
Hilariously unprofitable. They even came up with creative accounting to show how, despite never being profitable they may turn a profit if you don't count their debts and losses.
Uber's true business model isn't in place yet. Eventually, all cars will be self-driving, and they can ditch the drivers. The ultimate objective is to replace personal car ownership with a driving service.
Once they don't have to pay drivers, and they have monthly fees coming in from millions of subscribers, they'll clean up.
I think you're wrong on this one.
Currently uber does not own anything. Repair costs are for the drivers. Buying a car is for the drivers.
If they are not profitable now, replacing driver's "wage" will only make it more expensive.
I'm not wrong, it's on their website:
Driving autonomous forward
Then they go onto describe how they are going to use driverless vehicles for personal mobility, delivery, and freight.
I wouldn't put it past them to still use other people's self driving cars.
Thanks for the input.
In my opinion, this is definitely copium on uber's part. Taking on far more debt to try to be a public utility level of too big to fail is laughable. There is always an end stage they need to sell that is bigger and better.
So their entire company is built on the gamble that self-driving cars will happen before their finances implode?
I’d argue that this is what they pitch to their investors to continue to fund them. They probably partly believe it but I don’t think they really look that much further than the next quarter.
Yep, its on their website.
Driving autonomous forward