I always think about uber. The moment that they have to start treating drivers like employee's they can't make money because self driving cars are still a dream and the taxi business is cut throat and always has been.
They’re not, particularly since “spending and losing VC money” is often tossed around Uber, which doesn’t make sense, since it’s no longer VC backed.
I’m interpreting your sentiment as having a cash-flow positive operating model. Ridesharing absolutely works on a fundamental level with enough gross profit to fairly compensate drivers. (It doesn’t if drivers can log on and off at will, nor in low-population density or poorer areas.)
I'm sure we'll see plenty of "gross profit" in their non-GAAP financial statements. I guess it doesn't take much to have people defend companies they know so little about in industries they have no experience in. Marketing really works I guess. Btw the Revel NY ridesharing isn't going so well:
For drivers, yes. But in many cities the taxi system was engineered so that the owners of "positions" got lavish profit.