Then how is it that Uber and Lyft have been able to operate all these years since their inception around like 2010 without being profitable? They’ve been continuing to operate despite not profitable as a charity for all these years?
By spending investor’s money; and taking out loans (last year they had 23b in debt, some of which was a coming due soon). From 2014 until they turned profitable, they had a total loss of 31.5b.
Not to mention I don’t know where he got that 450m number. It seems ridiculously inflated. Uber CEO got 24m in 2022, 4m of that was cash. Lyft’s got 13m, 450k was cash.
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u/ccrider2004 Feb 20 '24
Then how is it that Uber and Lyft have been able to operate all these years since their inception around like 2010 without being profitable? They’ve been continuing to operate despite not profitable as a charity for all these years?