Court rules California gig worker initiative is unconstitutional, a setback to Uber and Lyft

the company don't make money.

Very wrong: Uber's core business has been profitable since 20161 and is a milk-cow. It's the largest cab company in the world where the drivers pay for the car. Historically unheard of. Uber takes 30% for each ride and gives nothing back: car cost, insurance, upkeep and gas are all on the driver.

Can you imagine a turn key operation where the employees assumed all costs? Unheard of.

Uber is not profitable because they're shooting in all direction as part of growth strategy. Spending on autonomous, freight, bribes to every city official on the planet. Whatever goes, shoot first ask questions later. How the fuck do you think they set shop in every major city despite vehement legislative opposition? They paid the fines then said "fuck you I'm here to stay".

If Uber only operated the core they'd be an Apple lever company within a decade. Again: 30% clean cut from every ride. It's a cash cow.

/r/business Thread Parent Link - sacbee.com