Wednesday , February 19 2020
Home / Tag Archives: Uber

Tag Archives: Uber

Beware Of Those Selling “Technology”

“3. And they said to one another, ‘Come, let us make bricks, and burn them thoroughly.’ And they had brick for stone, and bitumen for mortar. 4. Then they said, ‘Come, let us build ourselves a city, and a tower with its top in the heavens, and let us make a name for ourselves; otherwise we shall be scattered abroad upon the face of the whole earth.’” Genesis 11:3-4 (NRSV) Technology Technology can be thought of as the development of new tools. New tools enhance productivity and...

Read More »

Hubert Horan Discusses Uber on Harry Shearer’s Le Show

I am kicking myself for not having let readers know in advance that Hubert Horan was appearing on Harry Shearer’s Le Show on Sunday. But you can listen now, via this link. Harry excels at asking simple-seeming but sophisticated questions (and making his interviewees look good too). Here he  focuses on the key elements of Hubert’s analysis of Uber’s questionable economic claims, particularly that there are no scale economies in the local transportation business. It’s also gratifying to hear...

Read More »

Uber Loses Another $1.2 Billion, Stock Dives Again

Yves here. Consistent with Hubert Horan’s extensive analysis of Uber’s economics, the local transportation company’s losses widened, again demonstrating it has no path to profitability. By Wolf Richter, editor of Wolf Street. Originally published at Wolf Street Burning cash is easy; It’s quite flammable and just goes up in smoke. Here it is in a nutshell, the philosophy of “growth at all costs.” Uber’s total revenue increased 29% to $3.81 billion in the third quarter compared to a year...

Read More »

Uber to Owe UK >£1 Billion in VAT if It Loses Appeal on Suit on Driver Status, Also Loses Liability Insurer

This is Naked Capitalism fundraising week. 1530 donors have already invested in our efforts to combat corruption and predatory conduct, particularly in the financial realm. Please join us and participate via our donation page, which shows how to give via check, credit card, debit card, or PayPal. Read about why we’re doing this fundraiser and what we’ve accomplished in the last year, and our current goal, more original reporting.. Hubert Horan sent on two important stories on Uber, neither...

Read More »

Today’s Melt Up Triggers Tomorrow’s Melt Down

Since November of 2016, the NDX has soared by 72% and is poised to break the recent all-time high of 8027. Today, it seems that sentiment is shifting back to selling bonds and buying riskier equities with hyped estimates. FAANG stocks have fueled an ongoing rally, via stock buybacks, non – GAAP financial gimmicky, and promises of eventual profitability for many unicorn startups. Source: Stockcharts.com – 9/12/19 Sentiment has moved prices up as the market has suspended its...

Read More »

Hubert Horan: Can Uber Ever Deliver? Part Twenty-One: Mike Isaac’s Book Ignores Economics and Financial Results and Gets the Uber Story Almost Entirely Wrong

By Hubert Horan, who has 40 years of experience in the management and regulation of transportation companies (primarily airlines). Horan has no financial links with any urban car service industry competitors, investors or regulators, or any firms that work on behalf of industry participants One of the recurring themes of this series has been the poor quality of Uber coverage in the mainstream business and tech press. On September 3rd, Mike Isaac, who has been covering Uber for the New York...

Read More »

Hubert Horan: Will the “Train Wreck” Uber/Lyft IPOs Finally Change the Public Narrative About Ridesharing?

By Hubert Horan, who has 40 years of experience in the management and regulation of transportation companies (primarily airlines). Horan has no financial links with any urban car service industry competitors, investors or regulators, or any firms that work on behalf of industry participants Long time readers of the Naked Capitalism series know that much of the evidence and explanation for points mentioned below are found in earlier parts of the series or in my 2017 Transportation Law Journal...

Read More »

Hubert Horan: Can Uber Ever Deliver? Part Eighteen: Lyft’s IPO Prospectus Tells Investors That It Has No Idea How Ridesharing Could Ever Be Profitable

By Hubert Horan, who has 40 years of experience in the management and regulation of transportation companies (primarily airlines). Horan has no financial links with any urban car service industry competitors, investors or regulators, or any firms that work on behalf of industry participants Can Silicon Valley investors create $125-150 billion in ridesharing market value out of thin air? This series, since the first Naked Capitalism post in 2016, has focused on Uber as the dominant and...

Read More »

Hubert Horan: Can Uber Ever Deliver? Part Seventeen: Uber’s 2018 Results Still Show Huge Losses and Slowing Growth as IPO Approaches

By Hubert Horan, who has 40 years of experience in the management and regulation of transportation companies (primarily airlines). Horan has no financial links with any urban car service industry competitors, investors or regulators, or any firms that work on behalf of industry participants Overview of Uber 2018 results Uber released a brief summary of its fourth quarter and full-year 2018 P&L results on Friday. Excluding claimed benefits from the first quarter sale of its failed...

Read More »

Our New York Magazine Article: “Uber Is Headed for a Crash”

We thought New York Magazine readers might enjoy seeing Hubert Horan’s hard-hitting assessment of Uber’s dubious economics and less-than-rosy financial prospects.  I liked the photo that the editors chose for the story. If you are so disposed, please comment at New York Magazine as well as here. Thanks! By steamrolling local taxi operations in cities all over the world and cultivating cheerleaders in the business press and among Silicon Valley libertarians, Uber has managed to create an...

Read More »