https://investor.uber.com/news-even...orts-Second-Quarter-2019-Results/default.aspx I don't know if I am in space but it seems Uber had a net cash flow loss of 5.236 Billion in Q2... Wtf ? Total loss for H1 is 6.248 Billion. They boosted R&D a lot along with everything else, but this is nightmare bad... At this point Uber has to hit Credit Markets yearly for 6-8 Billion going forward This is nightmare scenario for Chief Ponzi King Masayoshi Soft Bank... His vision fund returns was getting drilled, this is really not gonna help... We Work has to become public asap so he can cash out and stay solvent How do you make money selling a dollar for 90 cents ? Volume!
Although UBER is the king of the street at this time, driver discord and billion dollar losses will only pay the founders of this convoluted company with inflated stock prices. NYC is already taking steps to limit the time cars are allowed to drive unoccupied in the streets below 96. Congestion pricing is a real threat. I suggest reading the UBER forums to understand what is going on in the trenches before investing in this company.
The saddest part about it all is that thousands of taxi drivers lost their jobs because of zombie companies like Uber who are enabled to operate at a loss for years on end thanks to being given unlimited access to the VC/shareholder/pension fund piggybanks. NIRP/ZIRP policy is creating the problems it thinks it is trying to solve.....with no hurdle rate for investment, literally anything goes....lose -$5B per quarter, yet give insane stock based compensation? Who gives a shit, everyone else is doing it, and hell, German bonds are negative yielding, so just an eventual breakeven is good enough for Uber.
Breakeven ? LOOL, a phone app that has been losing money since 2009 lost 5.2 Billion in 3 months without doing any acquisitions. There's 0 hope, they will lose money until they file chapter... Losses are subsidized by US Pension Funds and Japanese Pensions anyway, eventually debt servicing will become too big and refi's will stop. Chewy.com is the second best ponzi this cycle The best is Wework, the day they IPO credit markets should snap... It's beyond nonsense, you'd think it's impossible for grown men to literally be apart of this, but as long as US Pensions accept taking hits, nobody cares... All those taxes American pay, the second you pay them it goes to the markets on hopeless companies, haha. WeWork lost 1.9 Billion in 2018 on 1.8 Billion revenue, Q1 lost 700 Million. Bleeding cash since inception, the business model is money losing at the best case scenario
What's wrong with this Softbank guy? Keeps injecting money into these non-profitable companies like WeWork and the likes. WeWork openly admitted that they have not found a business model that would make them profitable. I do not get it why someone would invest in these companies. Anyone? Any hidden agenda?
I do not understand how a ride-hailing app can lose over a billion dollars, ever. The drivers provide their own cars and insurance/gas, yes? So that does not cost the company anything, which would be the biggest expense. All that is left is...Data fees? It's just a cut of the fares the drivers take in, is it not? Or am I lost on this idea?
It's worst then that... Founder of WeWork pays himself yuge money for losing other people's money through WeWork, takes that money puts down payments on Commercial Buildings, then leases his personal buildings to WeWork, whether WeWork has sub leases or not, he's getting paid building equity in his personal Real Estate, while WeWork bleeds money... LOOOL He just sold 700 Million worth of shares even before IPO came and started a family office fund... He's dicey as fuck, but became a billionaire, he's gonna be the face on this crisis with chewy and Felon Musk The face of the lunacy in 01 was pets.com, 08 was Wall Street, 19 WeWork
5.2 Billion loss in 3 months without an acquisition!!!!! I looked at the earnings report and honestly thought I was confused or there was a typo, it didn't make sense for a good minute
OK, that is fine. So you see the shit that is NOT needed? Sales and Marketing, and R&D. (What are they spending 300 million bux to research anyways? New ways to fuck someone out of what is effectively a taxi fare?) I just saved the company $1 billion in cost. Can they toss me a fiver so I can get a pint at my local pub? Morons. I cannot stand these companies, who get all this OPM and just spew it all over the place on their personal wants. THREE HUNDRED MILLION on Research and development. For WHAT!?!? Self-driving? Assholes, that tech is so far out of reach and not ready for prime time, you're wasted even thinking you should be looking into it. And if you want to, spend 50K on some lone guy to figure it out. I hope Uber stock tanks to worthless. ASSHOLES!