Professor Aswath Damodaran comments on Uber's profitability
— June 21, 2017
Excerpt from the San Francisco Chronicle -- "Despite Uber’s massive growth in cities served (662), drivers recruited (1.5 million) and fares charged ($20 billion in 2016), Uber has yet to see such rapid improvement in its profits per ride, said New York University business Professor Aswath Damodaran. Classic tech companies enjoy economies of scale, meaning that though they may lose money when they’re smaller, their profits mushroom as they grow. (See Facebook or Amazon.) Uber has yet to do that."