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kleinbl00 · 2919 days ago · link · · parent · post: Sweden proposes ban on ride-sharing services that make profits
No sarcasm whatsoever. They're currently operating at a GAAP profit margin of -149%.
Uber passengers were paying only 41% of the actual cost of their trips; Uber was using these massive subsidies to undercut the fares and provide more capacity than the competitors who had to cover 100% of their costs out of passenger fares.