Thursday, August 08, 2019


The Uber business model was something like

1) become monopoly
2) profit

then when that didn't work it was:

1) become monopoly with self-driving cars
2) profit

and now it's "oh wow weird how people don't make that much money in the taxi business who knew."
NEW YORK — Uber lost $5.24 billion in the second quarter — its largest quarterly loss ever — after making huge stock-based payouts in the months following its initial public offering.

The ride-hailing giant said Wednesday it paid $3.9 billion in stock-based compensation and expenses during the quarter. It also paid $298 million in stock and cash to drivers to show appreciation in connection with the IPO.