Seems out of proportion to revenue.

 

As it is including recruitment of drivers it's about right. That's the cost of doing business.
Uber spends 600 dollars for the replacement of every driver it loses and it adds up.

 

How much of that 3.2 billion was shuffled to their buddies, I wouldn’t be surprised if half or more was kicked back to Uber’s executives.

 

How much of that 3.2 billion was shuffled to their buddies, I wouldn't be surprised if half or more was kicked back to Uber's executives.

In Brasil at least 25% would have been "propina" to government officials...........

The whole article has left me speechless, I don't know what to say.

 

Nothing surprises me anymore.

 

I wonder how much of that was spent on trying to recruit new ants.

 

Pro tip:
Click every Uber ad you see, most net ads are pay to click.

I estimate I've cost Uber and Lyft over $50,000 in clicked ads.

 

nothing Uber or Trump does surprises anyone anymore

 

The positive news about Uber and Lyfdiculous going public is that we now have thousands of analysts and journalists eyes on them examining how they are spending investor capital and what return they are getting from those expenditures.

 

This new CEO is terrible.

 

Good wording!
I'm thinking that it's a post you'll be able to keep recycling, unchanged, every time there's a change at the top.

 

the more you think of $3.2 billion the more you wonder how dara still has a job and how there literally is no internal oversight at all at Uber

you really gotta wonder who got rich off that $3.2 billion

 

Uber was trying to rebrand itself and prepare for the ipo to the general public. The figure sounds high to me but I do remember seeing uber commercials all the time especially sports.

Too early to tell but seems like they wasted money so far

 

The market is less than enthusiastic about Uber right now. Today's first day of trading for Uber options, an institution bought millions of dollars of january 2021 put options with a $25 strike price at $2.85. The stock would have to fall to 22 and change for the trade to be a good one.

https://thefly.com/landingPageNews....10563&headline=UBER-Institutional-buyer-opens-M-position-in-longdated-Uber-puts

 

While back someone caught hell for saying he wished Travis came back. I am beginning to see the wisdom in that statement.

 

Wishing for the good old days with TK running the show??!! That guy was a management disaster. The board was smart to get rid of him.

 

This is all on par with startup companies. Amazon stayed in the red for years until they WANTED to start showing a profit.

 

We were promised 180 Days of change. That’s exactly what we got. Dimes-Nickels-Pennies.

 

nothing Uber or Trump does surprises anyone anymore

Why does EVERY thread have to be ruined by someone else's political views, seriously? WTH does Trump have to do with this topic? Absolutely ZERO.

 

both are absolutely horrible

Trump is a horrible president and Uber is a horrible company

you act like it's a far leap

 

Perhaps some people see a connection between Billionaire Startups and Billionaire Presidents.

 

As it is including recruitment of drivers it's about right. That's the cost of doing business.
Uber spends 600 dollars for the replacement of every driver it loses and it adds up.

And how much of the 600 goes into new driver's job training? Ah yes, Uber is a tech company that hires anyone with a vehicle right! No training, no experience, no skills, no knowledge required. Looks like "hiring anyone" strategy works pretty well for Uber.

 

Except of each driver they recruit, many may not EVER generate enough revenue to cover that $600 in recruitment costs.

 

Except of each driver they recruit, many may not EVER generate enough revenue to cover that $600 in recruitment costs.

Do you have a breakdown for that $600? Also what is the $ amount for recruiting a new rider?

 

The break down comes down to Advertising for drivers bonus payments to drivers and staff at the hubs to manage new drivers. Uber while figures are leaked though it's S-1 filing I don't think itemised the specific cost per process just the combined total spend and that's very easy to believe when you look at drivers turnover.
At a minimum of 94% of Uber drivers being turned over per annum how many drivers is that per week that need to be replaced? Uber claims 2 million? That's approximately 5150 drivers per day that need be to replaced. That's a lot of advertising and a lot of management.
About 3 million a day spent at 600 dollars per driver? That's a very easy figure to believe.

 

More proof that their model is flawed. In SEC filings uber's growth receding while losses increasing. Uber waited too long to go public and now growth is no longer a factor to attract investors.
Wallstreet realized uber's not a technology company nothing more than a retail taxi dispatcher with a model that's never going to be profitable.
Uber burned through $20+ billion from VC subsidy trying to gain market share. As per IPO filing they admit no path to profitability while burning almost$4 billion annually.
Question is how is uber going to subsidize operations going forward while loses mounting.
IPO capital won't last 2.5 years at current burn rate. How are they going to raise additional capital with $3 billion plus is junk bonds.

 

Not surprising at all.

When Uber has saturated every TV channel and radio station imaginable with their endless barrage of cheesy recruitment commercials non-stop, night and day. They are more annoying than junk email spammers and telemarketers.

 

Uber and Lyft don't understand math. They think that they can throw around money and new people will flock to them.

Over the years Uber and Lyft have alienated MILLIONS of drivers. Say you have 2 million hostile former drivers. Many of those drivers have a spouse. They have 2-3 kids. They have 2 parents. They have 4 grandparents. They have 2 siblings. They have 10 cousins. They have 20 nieces and nephews. They have a dozen close personal friends and co-workers in the office. You have millions of potential riders, but they won't use the service because they know how bad Uber and Lyft treat their driver family member/co-workers/friends.

I may only be one driver, but my recommendation(s) resonate with dozens of family members/acquaintances. Uber and Lyft can make as many propaganda ads as they want, but they'll never succeed until they treat drivers right.

 

Uber and Lyft don't understand math. They think that they can throw around money and new people will flock to them.

Over the years Uber and Lyft have alienated MILLIONS of drivers. Say you have 2 million hostile former drivers. Many of those drivers have a spouse. They have 2-3 kids. They have 2 parents. They have 4 grandparents. They have 2 siblings. They have 10 cousins. They have 20 nieces and nephews. They have a dozen close personal friends and co-workers in the office. You have millions of potential riders, but they won't use the service because they know how bad Uber and Lyft treat their driver family member/co-workers/friends.

I may only be one driver, but my recommendation(s) resonate with dozens of family members/acquaintances. Uber and Lyft can make as many propaganda ads as they want, but they'll never succeed until they treat drivers right.

The theory of diminishing returns by creating oversupply of drivers which has evolved into the most disgruntled labor force in modern history. A self-fulfilling prophecy.
Uber may a household brand. But it's a brand with incredible negative perception. They have caused irreparable damage to their brand.

 

At the Uber Greenlight hub in Las Vegas, you'll see about 10 employees and a lot of new drivers signing up who think they are going to make some money now. GL.

 

Wow!! Does that really work? If so it definitely would be more lucrative than actually driving.

People like Harry the Rideshare guy and Uberman were doing stuff like this YEARS ago!!

 

I presume the propaganda these companies spew out falls under advertising. As for the company reporting it in its filing, it also reported that the take rate was 21.7 which maybe in 2015 it was (which would technically not make this a lie if they didn't disclose the year they were talking about). Either way it is a lie thus any other numbers in the IPO prospectus should be taken with a grain of salt. As we all know, Uber and Lyft seem to be protected from regulators thus lying to drivers, passengers, and investors isn't of concern to them until it ends up in the courts and in the media. I don't believe a single word that comes out of Uber and Lyft headquarters. They have lied to drivers and passengers for years thus the culture of lying is imbedded in their very being.....now that investors are involved though do you think they overnight changed that culture? Of course not.

nothing Uber or Trump does surprises anyone anymore

they both seem to be missing the same ethical and moral compasses

 

I presume the propaganda these companies spew out falls under advertising.

Thanks for that clarification/reminder.
Seems we've all overlooked these "cash for comments" shill pieces in various places - must be a fair bit of money paid for them, worldwide.