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I don't think the moat for food delivery is big enough that capturing the market and hiking prices is a realistic option. Uber eats already has plenty of competition (at least in my country) from foodora, wolt and bolt food.

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So, with a net income of -$9 billion, what is their business plan, then?

* https://www.marketwatch.com/investing/stock/uber/company-pro...

Are you arguing that Uber’s business model isn’t sustainable or that it’s bad for both parties? Uber being in the red doesn’t mean it’s a net negative for everyone.

Operating at a loss drives out anyone who doesn't have the money to burn forever to compete with you, and when the market is yours you can re-align prices to allow profit. This seems clear to me and the 'net negative' is that you don't actually have a free market anymore. Inserting yourself between product and fulfillment and taking the surplus value that would have gone to either customer or producer is not a gain for anyone but the people who invested in the rent-seeker.

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