[cheath]

I don't think this is necessarily true. Much of the VC dollars Uber has are currently being used to enter new markets. It's primarily used as growth dollars, as it should be.

They lost $1.2 billion this year and spent $1 billion on trying to capture the India market alone. In several other markets they were taking a similar strategy.

My suspicion is that as a rider in a primary market, you are paying a "sustainable" (for the rider) rate. Maybe not so much for the driver. But that's a different topic.