I like @wraithburn but I disagree with every sentence in this tweet.
Cab drivers often owned their own cars in the old model as well as the new, and cabs are actually cheap.
Amazon rarely uses USPS, and when it does, USPS clears a profit.
Neither spreads costs to others.https://twitter.com/wraithburn/status/1296835383456681986 …
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11/ This seems to be a variant of the Obama "you didn't build that". Because Uber exists in the economy somehow they're ripping the rest of us off. Passengers pay fees. Drivers get paid. Drivers buy gas. Gas taxes pay for road maintenance.https://twitter.com/wraithburn/status/1296841392489103360 …
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12/ "expectations and assumptions" This sounds like an attempt to shoe horn in a bunch of YOUR expectations. Enumerate / explain, please?https://twitter.com/wraithburn/status/1296841893217742849 …
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Also servers, salaries (SV contract around stock options meaning that laying off early employees is a dick move), office space. The cost of actually running "Uber: The Computer Company" as opposed to "Uber: The car on demand company"
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It’s a publicly traded company. It’s not VC money anymore as traditionally defined.
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If you're looking at their net income or operating income then Uber is (wildly) unprofitable--they regularly post net operating losses of more than a billion bucks per quarter. The only actual profits I can remember them making were off selling businesses (ops in other countries)
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I have no idea what this means
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