[gvb]

> The single benefit of Uber having a global presence likely already outweighs the value of these local coops.

That and a willingness to subsidize rides to the tune of billions of dollars per year. A coop is going to struggle to provide rides at a "competitive" rate when the competition is paying people to use their services.

"For all of 2020, Uber's net losses amounted to $6.77 billion..." Ref: https://www.cnbc.com/2021/02/10/uber-earnings-q4-2020-.html

[jfengel]

What is causing Uber's losses? The customers are paying money, the drivers are getting only a fraction of it.

Are the drivers actually getting more money than the customers are paying? Are Uber's data center and transaction costs really high? Or is it the armies of lawyers and business development people?

The basic value proposition of ride share seems viable. If Uber's losses are overhead, maybe somebody can compete.

[kingnothing]

Uber's core rideshare business is net positive. They invest significant money in to other lines of business.

[rsj_hn]

Yes, the the customers pay more money than the drivers get, but from that difference Uber must pay the salaries of all their software developers, they must pay for infrastructure, they must pay for app development, product managers, hr, etc.

[xyzzyz]

If you look at Uber financial reports, you’ll see that they earn profit on rides, and their losses are due to their attempts at expansion in other segments.

Uber used to subsidize rides a lot, and it still does in some foreign markets where it is trying to get a foothold, but this is not really happening in US anymore.