Apoint often overlooked in Uber media coverage is that in 12 years of operation the ride-hailing app is yet to produce a dollar of positive cash flow. As of the end of 2021, Uber’s ongoing car and delivery services had produced GAAP net losses of $31bn.
The other too frequently untold truth is that rather than being a beacon of transportation progress, Uber is actually a substantially less efficient, higher-cost producer of urban car services than the traditional taxi operators it has driven out of business. Uber’s business model has never had any ability to profitably produce very large-scale operations at prices the market is willing to pay.
CabbieBlog 
Someone somewhere must be raking off what profit there is, or it would have gone bust before now. Maybe it’s a deliberate ‘tax loss’?
Cheers, Pete.
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It’s a business model that baffles me, give away your service to bankrupt the worldwide competition, but before that succeeds (even if it would) jack up your fares whilst paying the staff a pittance.
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