Can Uber ever deliver?
This is part 23 of Hubert Horan’s quest to highlight the bear case for Uber. “The press is still refusing to depict Uber accurately, as a rotting corpse.” Reading this forced me to look up their most recent financials and do the math. They have a 50% gross margin and spend it all on SG&A (mostly selling & marketing). Then they spend another ~35% of revenue on R&D and other operating expenses. | learn more