Wayfair, Zillow, Uber, Lyft, WeWork, Carvana, Tesla, Airbnb, Casper Sleep, Zume, and many others – they all have accomplished an amazing feat: losing tons money year after year during the Good Times in mundane profitable industries.
This hoped-for fake “profitability” isn’t profitability, but “Adjusted EBITDA,” Uber’s own homemade creature. Lyft produced a similar horror show yesterday.
