[noway421]

I think uber has the exact model they're trying to execute in mind. They'll turn their existing funds into growth and turn cash flow positive at around their last $100m left in the bank. That way, they most effectively utilise the resources they have and grow as big as they possibly can get. The fact that they are firmly closing the losses gap with constant rate of improvement kinda proves that fact. They definitely won't switch to new pricing model overnight to turn profit, the process has to be gradual anyway. Of course, market forces could be more sophisticated than a simple mathematical model of funds vs returns, and there could be unseen side effects if stopping half way or closing the gap way to quick, but it's probably an assessed risk.

Uber's model of survival isn't exactly self-driving ambitions, it's more about utilising their asset sheet effectively. That's why benchmark could be so eager to get a CFO - someone needs to vouch and stand behind the path to Uber's profitability. Right now, the only person who's left who can stand behind it is Travis, and he lost a lot of cred. Recent rumours about softbank investment might suggest that Travis thinks that this model can be extended even further at the cost of the dilution, and even greater market scale could be achieved (along with his own personal desire to lead on with that deal, possibly), but investors would rather not play another round of uncertainty and ambitious spending and would rather cash out quick. Also after an IPO the company would have a much better chance at leveraging a simple loan/bond to continue growth, as because the rate of its growth would still most likely exceed the interest rates.