Bro CEOs

[Admiral Yi]

Uber is great.

Sucks for cab owners.

[garbon]

Uber is great.

Sucks for cab owners.

The service is great for customers sure. How they treat their 'employees' not so much. And that whole business of flouting laws about getting permission for driverless cars?

[Admiral Yi]

The service is great for customers sure. How they treat their 'employees' not so much. And that whole business of flouting laws about getting permission for driverless cars?

If drivers are not happy with their compensation it's very easy for them to stop driving.  Unless you're talking about the CEO spazzing out to that one driver.

[alfred russel]

Even if Uber completely implodes tomorrow due to the bro culture, the venture capital has had ample opportunity to walk away with epic returns. It seems like an odd example for the article.

[Admiral Yi]

Even if Uber completely implodes tomorrow due to the bro culture, the venture capital has had ample opportunity to walk away with epic returns. It seems like an odd example for the article.

That's because it's a bullshit article.  The writer takes the assholish behavior of the Uber CEO and a couple harrasment cases at Uber, and tries to spin a narrative about some overarching cultural phenomenon with profound implications for society.  Nothing he says is supported by evidence.

[garbon]

The service is great for customers sure. How they treat their 'employees' not so much. And that whole business of flouting laws about getting permission for driverless cars?

If drivers are not happy with their compensation it's very easy for them to stop driving.  Unless you're talking about the CEO spazzing out to that one driver.

True. They can just find other jobs in a jiff.

[Admiral Yi]

True. They can just find other jobs in a jiff.

Has their time spent driving for Uber changed the jiffiness with which they can find a job?

[celedhring]

Uber is great.

Sucks for cab owners.

It loses money hand over fist though. Even for startup standards, 3 billion loss on 5.5b revenue in 2016 it's way out there.

https://techcrunch.com/2016/12/21/uber-losses-expected-to-hit-3-billion-in-2016-despite-revenue-growth/

[garbon]

True. They can just find other jobs in a jiff.

Has their time spent driving for Uber changed the jiffiness with which they can find a job?

Probably. If you are guaranteed revenue through one source that eats up your time, quite likely makes it harder to find another gig.

[The Brain]

[Admiral Yi]

Probably. If you are guaranteed revenue through one source that eats up your time, quite likely makes it harder to find another gig.

That logic applies to any activity that takes time and for which you receive compensation.

[Tonitrus]

Uber is great.

Sucks for cab owners.

It loses money hand over fist though. Even for startup standards, 3 billion loss on 5.5b revenue in 2016 it's way out there.

https://techcrunch.com/2016/12/21/uber-losses-expected-to-hit-3-billion-in-2016-despite-revenue-growth/

I understand their business model correctly...since they don't own any of the vehicles, they probably have very little in actual hard asset value.  As opposed to say, Tesla (which also is spotty on profitability).

And, I may be stupid on finances...but as long as they are privately held, how are the venture capitalists getting any returns?  With a privately-held company, if Uber were to go start going south and eventually go under, don't all of their investment contributions go with it?

[alfred russel]

And, I may be stupid on finances...but as long as they are privately held, how are the venture capitalists getting any returns?  With a privately-held company, if Uber were to go start going south and eventually go under, don't all of their investment contributions go with it?

They still have opportunities to sell their stakes, and the valuation Uber has gotten in at least one equity transaction has been $50b.

[dps]

True. They can just find other jobs in a jiff.

Has their time spent driving for Uber changed the jiffiness with which they can find a job?

Probably. If you are guaranteed revenue through one source that eats up your time, quite likely makes it harder to find another gig.

Uber advertises itself to prospective drivers as a way to earn extra money in your spare time.  If someone is depending on driving for Uber as their primary job, A) that person is doing it wrong, and B) do you think they'd be better off with no income at all?

[Admiral Yi]

Hey Fredo, how do acquisitions affect profit/loss?  Only a balance sheet entry, right?