Uber's stock falling because it's treating drivers as employees

[newwurldmn]

It's the CCP playbook.

It’s worked for Amazon. But it’s worked for a
lot of other smaller companies too.

 

[canada812]

I have used Uber service several times, not impressed by it any more.

Two years ago I was in Boston and needed a ride to my hotel. Opened the Uber apps, and it instructed me to go to a plaza to be picked up at a price of $15. I was new in the city and had no idea where the plaza is, and it was raining heavily. Just at that time a cab passed by and I waived it to stop, and asked the driver how much it costed for a ride to my hotel. The driver replied $10 and I happlily went in the cap.

 

[Specterx]

All Uber and Lyft are, are smartphone apps, with a shitload of backend software. How are they losing hundreds of millions of dollars per year?

Because all they are is smartphone apps, with no economic moats of any kind - meaning that long-run profit margins will be very slim at best and are at present negative, as the companies incinerate cash in a desperate struggle for market share to sustain the "growth n' disruption" narrative.

It can continue so long as investors are willing to dump more money into these things.

 

[gregglogan]

When I saw the Uber shares rise in after-hours trading, I was sure that they would fall back upon analysis, and the same happened. Thankfully, I didn’t try to take advantage of the situation.