Uber’s Losses Widen as SoftBank Launches Bid to Buy Shares
Uber had $6.6bn on hand at the end of June [1]. That means they are down to $5.1bn.<p>Absent cost-cutting, that implies a 9 to 12 month runway. Even if SoftBank injects $1bn, that could only mean a few months’ runway. A large fine in the Waymo case [2] could literally bankrupt them.<p>[1] <a href="https:&#x2F;&#x2F;venturebeat.com&#x2F;2017&#x2F;08&#x2F;23&#x2F;uber-is-still-burning-cash-at-a-rate-of-2-billion-a-year&#x2F;" rel="nofollow">https:&#x2F;&#x2F;venturebeat.com&#x2F;2017&#x2F;08&#x2F;23&#x2F;uber-is-still-burning-cas...</a><p>[2] <a href="https:&#x2F;&#x2F;mobile.nytimes.com&#x2F;2017&#x2F;11&#x2F;29&#x2F;business&#x2F;waymo-uber-trial.html?referer=https:&#x2F;&#x2F;news.ycombinator.com&#x2F;" rel="nofollow">https:&#x2F;&#x2F;mobile.nytimes.com&#x2F;2017&#x2F;11&#x2F;29&#x2F;business&#x2F;waymo-uber-tr...</a>