Friday, August 17, 2018
Thursday, August 16, 2018
Uber brought in $2.8 billion in revenue in the second quarter of 2018, but ultimately lost $891 million thanks to increased spending by the ride-hailing company, according to Bloomberg.
Uber, which is privately held but chooses to report its quarterly earnings to investors and the public, is seeing some growing pains from its massive effort to scale globally. It’s cash-burn rate wasn’t as bad as the same period last year, when the company reported losing roughly $1.1 billion. But it’s a big drop from the previous quarter, when the company posted a rare profit thanks to its decision to sell its businesses in southeast Asia and Russia to local rivals.
Uber is planning for an initial public offering in the second half of 2019, Uber CEO Dara Khosrowshahi has said. That could be complicated by Uber’s habit of burning large quantities of cash. The company lost $4.5 billion last year, and has burned through $11 billion since launching in 2009. But Uber still has $7.3 billion cash on hand, according to Bloomberg, which certainly gives it some running room before an IPO.
Bloomberg characterized the report as Khosrowshahi embracing the company’s “growth above profit” ethos. But it has cast a spotlight on some of Uber’s more expensive, trouble-prone projects. Specifically, the company’s beleaguered self-driving car operation is said to be losing as much as $200 million a quarter, The Information reported today. And Bloomberg noted that Uber is being urged by investors to off-load the unit.
Source : TheVerge.
TAXI LEAKS EXTRA BIT : by Tom Scullion
Uber record loss of £702m for the latest quarter.
The good old 'Gig Economy'!
Isn't it supposed to revolutionise the world and show us the way to the future, with successful, dynamic, get up and go business strategy, leaving behind those Luddite riddled, antiquated businesses like London's black cabs, you know, businesses that have been around for hundreds of years?
The Gig Economy, led by their own version of 1st World War Generals, taking their armies over the top of the trenches, to certain destruction. But the Generals are ok. They're safely hidden well away from the front line, ensconced in penthouse offices with luxurious surroundings & mega salaries, bonuses, fine dining & hob-nobbing with bent politicians and bureaucrats the world over.
Once the masses realise the carnage inflicted upon them, their families & their society, then maybe we'll see those 'Generals' and their lickspittle politician friends hanging upside down from proverbial meathooks in market squares, across the country.
Because by then, even the most ardent GiG supporter will come to realise that all 'GiG' ever stood for was 'Greed is Good'.
Exclusive : Colts Taxis Getts Rid, In Favour Of A Non-Profit TaxiApp Provided By Licensed Taxi Drivers...by Sean Paul Day.
It’s easy to be critical, in fact, it’s easy to find fault in someone or something or even something some one is doing. Add to that a clash in personality and it’a wonder we manage to get any work done with the amount of criticism we have to wade through.
Now, if you want to take criticism to the next level you need to be someone who earns a living out of the trade. It doesn’t matter who or what you do, or if you are good, bad, or ugly, you are going to get criticised.
What the trade lacks is reciprocity, alliances or partners if you will. There was a time when the regulation that governs our industry prevailed, but now it seems, with everyone else partnering anyone they can find, the trade is becoming increasingly isolated in a world where a few alliances would do us a world of good
TAXIAPP UK - London’s only Trade app that’s owned and run by drivers themselves is always looking for different ways to advertise their product, and one such place is on the side of taxis. However, TAXIAPP/ unlike the Corporate led apps- isn’t afforded the luxury of any outside investment and because a lot of the fleet owners look to maximising profits from renting cabs, the cost of advertising on cabs has always been out of the price range for TAXIAPP to consider
Enter Michael Glassman from Colts Cabs. Responding to the strong feelings in the trade against ride hailing apps, particularly Gett, he has taken the stance to remove all of their liveries and replace them with TAXIAPP ones completely free of charge. In total Glassman has supplied a fleet of 80 cabs for TAXIAPP to advertise their brand.
A spokesperson from TAXIAPP said they were thrilled at what is effectively an unprecedented act of goodwill and hopes that the exposure will generate more business for the app, and also shine a torch on the commitment Colts Cabs have shown towards the trade
Of course it’s not entirely without cost as the app had to consider designing and producing the livery itself and of coarse there was the fitting to consider. "We did actually get a very good deal from Dvinylwraps," says Scott, who looks after the app’s finances "To do all 80 cabs in one go simply wasn’t feasible, but we had to find a way as it was far too good an offer to let go by the wayside"
What you’ll see is a dozen cabs (possibly more ) each month being filtered out on to the streets of the Capital emblazoned with the TAXIAPP logo.
As far as criticism goes? Well, very few people in this world do anything for zero pay off, but as far as this act of good will is concerned, Glassman didn’t have to do it, but he chose to, and should be commended for it. That’s criticism, partnerships and helping each other all in one. As the mantra goes, support those that support the trade.
I await criticism