Uber Loses at Least $1.2 Billion in First Half of 2016

Meichel Kane

My Name Is
Jun 6, 2006
11,036
350
He's not wrong. In my city they're doing that to phase out cabs. It's working too. I can use Uber Pool and it's a $3.12 ride to get me from my neighborhood to Downtown Chicago 4.2 miles away. It's unbeatable.

It really screws the drivers though.

When Uber is new to a city, it will often guarantee drivers a certain hourly rate during peak times in order to have them on the road. Rides are cheap, Uber pays the driver the difference, cabs company loses, Uber takes over. I think it was a holiday weekend last year where if a driver was active from 10 pm-2 am Saturday night, he or she was guaranteed $200.
 
Oct 18, 2011
44,094
9,729
is this like when sports teams claim to lose millions, yet someone will pay a ******** of money to buy them anyways
 

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