Uber drivers can now lease cars through uber... But prices look insane!!

dealmaker said:
Lyft wanted to sell itself, but couldn't find a buyer
Lyft tried to sell itself, but has not found a buyer. The San Francisco company hasn't been able to get a willing buyer due to its cost, as it was valued at $5.5 billion, and the challenges of getting profits in the ride-sharing business. (New York Times)
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"Lyft is not profitable, said a person briefed on the company’s finances."

Interesting article. So even with an estimated $2 billion in ride fares and a 20% cut, it can't make money on a $400 million revenue stream. However, if they can last long enough until the driverless cars become a reality, will they be able to offset vehicle and technology costs when they keep the full $2 billion? If GM keeps investing and Lyft goes public, then it can raise more funds to add to their current $1.4 billion cash, and they might just be able to hold out.
 
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Forget driverless cars, watch out for the driverless semi, coming soon to a freeway near you. :caution:

https://amp.businessinsider.com/ube...ferent-company-that-you-thought-it-was-2016-8

"Uber revealed it had spent $100 million to get into the trucking business with its purchase of Otto, a startup that makes kits to turn traditional trucks into autonomous vehicles."

"...we are getting in the trucking business," Kalanick told Business Insider. "Part two is that it is a multitrillion-dollar business globally as well. I have always talked about the consumer ground-transport business being a multitrillion-dollar business. Now there's this other one called trucking. It is a challenging, interesting, nuanced business, and it is going to be intense getting into it, but that's exciting to me.
 
ScalperJoe said:
Forget driverless cars, watch out for the driverless semi, coming soon to a freeway near you. :caution:

https://amp.businessinsider.com/ube...ferent-company-that-you-thought-it-was-2016-8

"Uber revealed it had spent $100 million to get into the trucking business with its purchase of Otto, a startup that makes kits to turn traditional trucks into autonomous vehicles."

"...we are getting in the trucking business," Kalanick told Business Insider. "Part two is that it is a multitrillion-dollar business globally as well. I have always talked about the consumer ground-transport business being a multitrillion-dollar business. Now there's this other one called trucking. It is a challenging, interesting, nuanced business, and it is going to be intense getting into it, but that's exciting to me.
More...

This tells us that they are not in taxi-cab business rather in transportation business...
 
The consensus on Seekingalpha is that Uber loses about 7% on every ride, because they started a price war with Lyft. It might be good for the customers, but not good for anyone else. Also, people who saw income taxes of Uber drivers said they made shit...
 
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