Simply because you are burning cash, doesn't mean that the value of your company is falling.
I know it's tempting to see it that way, especially since uber is as large as it is, but the winning strategy is also to survive as the dominant player until self-driving cars are commonplace.
Then you replace the drivers with cars, and thanks to your network you have a huge first mover advantage in the driverless taxi industry. It's during the initial period of this stage that you would see the most profits, and then as more companies enter the market you would begin to have to compete on price and quality.
I know it's tempting to see it that way, especially since uber is as large as it is, but the winning strategy is also to survive as the dominant player until self-driving cars are commonplace.
Then you replace the drivers with cars, and thanks to your network you have a huge first mover advantage in the driverless taxi industry. It's during the initial period of this stage that you would see the most profits, and then as more companies enter the market you would begin to have to compete on price and quality.