this post was submitted on 01 Aug 2023
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Uber Posts First Quarterly Net Profit of $394M (www.wsj.com)
submitted 1 year ago by [email protected] to c/[email protected]
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[–] [email protected] 1 points 1 year ago

I wonder how long they’ll stay competitive with taxis. From what I understand, they were subsidized pretty hard by VCs during the low interest rate era.

Anecdotally, Uber would’ve charged me $75 for a ride from JFK airport to uptown Manhattan, meanwhile every taxi had a $70 fixed fare. They’re already neck-and-neck. What’s going to give?