Ghostalmedia@lemmy.world to News@lemmy.worldEnglish · 8 months agoUber and Lyft are quitting Minneapolis over a driver pay increasewww.engadget.comexternal-linkmessage-square66fedilinkarrow-up1258arrow-down14file-text
arrow-up1254arrow-down1external-linkUber and Lyft are quitting Minneapolis over a driver pay increasewww.engadget.comGhostalmedia@lemmy.world to News@lemmy.worldEnglish · 8 months agomessage-square66fedilinkfile-text
minus-squareKevonLooney@lemm.eelinkfedilinkarrow-up12·8 months agoIt’s not impossibly expensive. Uber is a public company and you can just read their annual reports. Their gross profit margin ranges from 38% to 45%. They spend $4 to $5 billion every year on sales and marketing, more than any category besides cost of revenue (actually running the app). https://d18rn0p25nwr6d.cloudfront.net/CIK-0001543151/bbb206f1-a6ba-4521-82cf-ae2d4011057f.html# No, they are not just trying to keep the lights on.
It’s not impossibly expensive. Uber is a public company and you can just read their annual reports. Their gross profit margin ranges from 38% to 45%.
They spend $4 to $5 billion every year on sales and marketing, more than any category besides cost of revenue (actually running the app).
https://d18rn0p25nwr6d.cloudfront.net/CIK-0001543151/bbb206f1-a6ba-4521-82cf-ae2d4011057f.html#
No, they are not just trying to keep the lights on.