Aug 5
10 min read
Uber’s still not profitable
An effective wealth transfer of $2.8 billion from labor to capital in just three months.
Uber just released its Q2 numbers for 2022 and trumpeted that it had finally achieved cash-flow positivity — and it only took 13 years and $32 billion in losses! So has Uber finally turned a corner? Will the company finally attain profitability and repay those billions?
