### Comment:
&gt;My price target for this thing is about a solid $3. I don’t even understand how someone could buy shares of a company that doesn’t make profit and has no real path to it other than downsizing. 
  
 Isn't it mainly because of autonomous driving R&amp;D costs?

### REPLY:
If you look at just their Rides segment EBITDA and allocate corporate G&amp;A, depreciation &amp; amortization, and stock-based comp (even excluding the giant hit taken this year due to the IPO) based on the rides % of gross booking, you're still in the red.

### END.