Hacker News new | ask | show | jobs
by sircastor 1932 days ago
3. Uber subsidizes their fares with. VC capital. And unsustainably so.
1 comments
onion2k 1932 days ago
They only do that in markets where they're not established. It's just an extremely high marketing budget that gets spent on discount codes. As soon as Uber has a foothold the codes disappear and people have to pay for their rides.

Ita no different to the $10 PayPal gave people for signing up or the $7 of BTC Coinbase give to referrals really.

link
sofixa 1932 days ago
The fact that Uber are still bleeding money after being established in most markets they still operate in ( others were sold), would indicate otherwise.
link
searchableguy 1932 days ago
Didi reports profit: https://www.forbes.com/sites/bradtempleton/2021/02/04/didi-m...

A good report on why Uber is not profitable: https://www.cbinsights.com/research/report/how-uber-makes-mo...

link