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Lyft has $1.8 billion [0] and Uber has $4.3b [1] at December 31, 2022 cash on hand.

Where is the death embrace?

[0] - https://investor.lyft.com/news-and-events/news/news-details/... [1] - https://investor.uber.com/news-events/news/press-release-det...

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I don't think either company has turned a profit in the last 5 years at least. They're just spending VC money to try to kill the competition. That $4.3 and $1.8 billion isn't from profit, its from VC's trying to outspend each other.

I don't get their strategy. While they are an true tech company - the marginal cost of servicing next client is essentially zero, their network effect is limited to a single city so it will be easy for potential competitors to enter the market.

Their products were feature-complete a long time ago. Why are they still in a growth stage and not making profit which should be easy for essentially brokers?

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