Tagged: sharing economy

Uber losses expected to hit $3 billion in 2016

Money quote:

While that kind of sales growth is normally impressive, considering the $3 billion in anticipated losses, Uber is apparently spending $1.55 for every dollar it makes.

I confess to being an Uber user, along with S.O. But I’m a guilt-stricken one. There’s the time I paid about $11 for a ride from the airport, a trip that cost about $40 in the bad, evil, no-good, pre-Uber economy. Instead of cackling with glee at the savings produced by the sharing economy, I felt vaguely ashamed as a feeble, near-sighted old man drove me home.

Uber’s losses are growing from $2.2 billion last year to an expected $3 billion this year, according to multiple reports this week from The..

Source: Uber losses expected to hit $3 billion in 2016 despite revenue growth | TechCrunch