1) Third quarter loss of US $1.3 billion.
2) License to operate in London cancelled. (14,000 recorded incidents of unlicensed drivers).
3) Further share-price decline, now under US $30.
4) Uber’s CEO announces he will take the focus off price (Uber’s strong point) and concentrate on company profitability.
As I’ve repeatedly written, Uber, an in-demand service, can only work as a drivers’ co-operative. Its massive flotation was a time-proven signal of a share-market boom about to end. The other is when take-overs take off, they’re currently at record levels.
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