Top Uber Exec Admits It will be DECADES Before Uber Makes Any Money

Austin Bob

Member
Dec 15, 2018
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What City & State do you work in?
San Antonio
Uber's Chief Technology Officer admitted this week that it will take "years" before Uber makes a profit. If you read this article and replace the word "years" with the word "decades" you'll come much closer to the truth.

He says it will take a few years DECADES before Uber realizes a profit. And he says their hopes are pinned on the realization of self-driving cars. He also says that will take years DECADES.

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He then goes on to brag about the aggressive self-driving car program they have going and how they're spending BILLIONS of dollars on it (there's your losses right there). And he says they need a couple of more years DECADES.

CEO Dara Khoshrowlkueoizk said earlier in the year that it would be more than a decade before they got self-driving cars going. I say it'll be a lot more than that and most likely never.

Anyway, whatever the truth is, at the end of the article the CTO made this very revealing statement:

"If people invest in Uber, they should be long-term investments. We're not in this business for the profit in the next year or two, we're thinking about changing the landscape of transportation. That's going to take years if not decades to fully realize."

Well, finally somebody lets the cat out of the bag. The most true thing he said here was "if not decades"! Take out the words "years" and "if not" from that sentence and you'll have the truth.

I'm sorry, but I don't think everyone who has bought Uber stock bought it because they're interested in "changing the landscape of transportation". I'd bet most of them bought it because they're interested in Uber making a PROFIT in the foreseeable future, i.e., sometime in the next 12-24 months, so they can realize a gain on their investment.
 

gigabYte

Member
Dec 7, 2018
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What City & State do you work in?
Long Island, NY
Whenever you hear these guys talk, it's pretty safe to say that whenever they say years, they mean decades. And whenever they give a number of years, you should multiply whatever numbers they tell you by 10 to get closer to the truth. So, when they say they expect to be profitable within 3-4 years, just multiply that by 10 and what they really mean to say is within 30-40 years which is surely much closer to the truth. I wonder how many of their investors intended to wait that long to get a return on their money!

The bottom line is, in today's financial markets, to say they'll reach profitability in 20 years is pretty much the same thing as never.