> So let me see if I get this ... finally, Uber does the only thing that can get it profitable: raise prices and control costs. And this blog finds a way to complain again
What he's saying is that this isn't what they did - their profitability is a balance sheet artefact caused by Uber selling parts of itself off (and incidentally getting over-inflated shares as payment). The main problem with this is that the bits of a company they sell off can only be sold off once.
The fundamentals of the business remain, and despite improvements in revenue vs expenses the reported profitability (using dubious accounting) is no more than a one-off event which they can only repeat by selling more of the family silver and not by running their actual business.
What he's saying is that this isn't what they did - their profitability is a balance sheet artefact caused by Uber selling parts of itself off (and incidentally getting over-inflated shares as payment). The main problem with this is that the bits of a company they sell off can only be sold off once.
The fundamentals of the business remain, and despite improvements in revenue vs expenses the reported profitability (using dubious accounting) is no more than a one-off event which they can only repeat by selling more of the family silver and not by running their actual business.