Quote:
Originally Posted by cmccuist
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That loss was from throwing a ton of money into penetrating the Chinese market, then having to abandon it. Existing local provider was too well entrenched. Same story as so many US companies.
Uber is having difficulty maintaining a driver pool and their efforts to right the ship have become more radical. For example, they're beginning to purchase their own fleet of cars and lease them to drivers. That'll jack their overhead for sure.
I hope they remain viable. While I'm not a frequent user, uber is head and shoulders above a taxi in terms of service.