This hoped-for fake “profitability” isn’t profitability, but “Adjusted EBITDA,” Uber’s own homemade creature. Lyft produced a similar horror show yesterday.
Burning cash is easy; It’s quite flammable and just goes up in smoke.
However many billions of other people’s money your outfit burns, just make sure you walk away a billionaire.
This scheme worked wonders for a while but has now run into trouble, and a lot is at stake.
WeWork was just late to the defenestration party.
The biggest force behind the startup bubble in the US has been SoftBank. But the scheme has run into trouble, and a lot is at stake.
Signs are now all over Silicon Valley and San Francisco.
All in next-gen corporate speak to give you the warm & fuzzies. Meanwhile, Uber hits new low, down 24% from IPO price.
And rideshare revenue is stagnating.
The phenomenon has reached historically huge proportions in the Everything Bubble era. But it comes in cycles – with a big impact on the real economy.