Uber Revenue Growth Slows, Losses Persist as 2019 IPO Draws Near
Maybe because I'm outside the unicorn bubble I can't see the magic, but I find something very warped about a business strategy that combines stratospheric valuation, intentional regulatory non-compliance, perpetual capital injections, service misrepresentation, and unprofessional corporate behavior... and results in massive financial losses year after year.<p>When I try to balance the elements, it frankly looks like an enormous grift.  Some key early investors have probably made out really well, but at what cost to others involved?<p>Not that the taxi industry didn't need disruption - it desperately needed a modern ride calling and fare estimating feature. But being well regulated and having to compete with a maverick service that simply ignored rules meant that the taxi industry lost while Uber gained.<p>Drivers for Uber have come out losers as well, earning much less than expected.<p>Passengers did well at first, but surge pricing and eventual regulatory costs eroded that gain as well.<p>Late investors?  The jury is still out on them, but likely they will be losers too.<p>Who won?