Maybe there's a method in this insanity, maybe not
Uber set two dubious quarterly records on Thursday as it reported its results: its largest-ever loss, exceeding $5 billion, and its slowest-ever revenue growth.
The double whammy immediately renewed questions about the prospects for the company, the world’s biggest ride-hailing business. Uber has been dogged by concerns about sluggish sales and whether it can make money, worries that were compounded by a disappointing initial public offering in May.
A cab hailing service is by nature a local business. A smaller business focusing on a specific locality will be able to compete and be profitable.
Uber investors are probably waiting for the advent of autonomous vehicle to arrive so they can get rid of the human driver component of the service and be finally able to achieve profitability.