Uber is still just a taxi company

Uber is a financial scam. It's never intended to make a profit. If it did, it would simply be yet another taxi company and have to raise prices to suit its responsibilities.

It's designed to soak money out of investors and drivers alike and pass that cash along to the administrative officers of the company as bonuses.

If drivers were to make a proper accounting of the business, they'd see they are paying the transportation bills for Uber, and making a personal loss. And if the investors did their due diligence, they'd see that investing in Uber is a mug's game.

But good old P.T. Barnum said it right, (paraphrased): "There's a new sucker born every minute."