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Tag: on-demand economy

Uber Loses $1.2 Billion by Q2 2016: The Hard Costs of Innovation and Disruption

Uber Loses $1.2 Billion by Q2 2016: The Hard Costs of Innovation and Disruption

Goodbye sharing economy, hello to the on-demand economy… Bloomberg’s Eric Newcomer reported that on a recently Uber quarterly call with shareholders, the company’s head of finance, Guatam Gupta announced that Uber’s losses continue to escalate. Total losses in the first half of 2016 totaled an astounding $1.2 billion. According to Bloomberg’s sources, there are several reasons for this. For one, subsidies for Uber’s drivers are responsible for the majority of the company’s losses globally. On top of that, Uber has been investing billions…

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