
Uber reports $1B loss in first post-IPO quarterly results - bluedino
https://arstechnica.com/cars/2019/05/uber-lost-another-1-billion-last-quarter/
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londons_explore
In pretty much every city now they pay the drivers less than they charge the
customer, so I can't quite fathom how they're making a loss...

Very expensive engineers?

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hahan_may
probably not. engineers only account for a very tiny portion of their entire
employ base. They have a large army of operation people(for recruiting
drivers, promoting, etc) and dispute/problem resolution people deployed at
every city they are present. They need to work with each municipal govern body
on regulations, transportation coordinations, airports, even minor issues like
which side of the street pick-up is allowed. They also have to hire PR
speciality to boost public image, lobbyist to dissuade politicians from
initiating any regulations. They still need to pay some sorta insurance for
drivers as they are still contractors. These are all huge costs

