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1) Uber is a public company now, it has not been VC funded for a long time

2) Regular taxi companies generally also treat drivers as contractors




> 1) Uber is a public company now, it has not been VC funded for a long time

They also typically lose around $1 billion per quarter. Unless they figure out how to be profitable, they will eventually run out of money. So really, they are still burning cash on the roughly $20 billion of VC capital they raised, plus the money they raised during IPO.

https://www.theverge.com/2019/8/8/20793793/uber-5-billion-qu...


>> They also typically lose around $1 billion per quarter.

What?! How on earth do you burn through $1B a quarter on a ride sharing app?


Subsidising rides, a lot of engineers required to run a massive real-time system, and big legal teams to work in so many regions.


They are reinvesting a lot.


And it has been losing tons of money for even longer. Without VCs to bail them out several times a year, how will they justify operating at a huge loss in France without a viable path to profitability?


Somehow, taxi companies in France have figured out how to operate profitably.


> Uber is a public company now, it has not been VC funded for a long time

I don’t think those two things are exclusive are they?




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