Uber should have just gone public, now their future is too fragile because it depends on their small number of VC investors who probably are thinking that they will still make more money than breakeven if they exit now.

People criticize Uber for operating in a red ocean but this was the case for Amazon too. They just stuck around and survived while everyone else in the dotcom era died off.

But it's looking more like that kind of scenario is impossible now that their founder/CEO is out and the VCs are looking to get out.