21 votes

Uber losses top $1bn in run-up to IPO

4 comments

  1. [2]
    Nitta
    Link
    They get their cut from millions of rides and that still doesn't cover just servers, dev salaries and promotion? And it happens for years without profit. On the personal level this is almost...

    They get their cut from millions of rides and that still doesn't cover just servers, dev salaries and promotion? And it happens for years without profit. On the personal level this is almost surreal.

    This kind of market is probably irrationally overvalued: reportedly over 100 devs are making the Android app, and it still has bugs even in my experience. I can be mistaking but it feels like 10 devs could do the job steadily, but probably they hired a bunch of "rock star talents" to continuously push changes for the sake of changes.

    8 votes
    1. tunneljumper
      Link Parent
      Remember when the cashout on the driver app was broken for like a week?

      Remember when the cashout on the driver app was broken for like a week?

  2. blivet
    Link
    I would be really leery of investing in Uber because their business model seems to be predicated on it never being classified and regulated as what it actually is, which is a taxi company. Maybe...

    I would be really leery of investing in Uber because their business model seems to be predicated on it never being classified and regulated as what it actually is, which is a taxi company. Maybe that's how things will shake out, but I'm not willing to bet on it.

    3 votes
  3. blau
    Link
    As an investor why would I pour money into a company that has never made money? Oh wait, Amazon.

    As an investor why would I pour money into a company that has never made money? Oh wait, Amazon.