I think I see it's last pre IPO valuation was 62 billion? It IPOed at 82 billion valuation, currently sitting at 95 billion. Late round investors maybe could have done better investing elsewhere but this is a success story. I'm sure many investors have divested some shares post IPO at a profit.
If the investors have turned bearish on Uber they have give or take 10 years to sell that "funny money" at a profit. I'm sure many have and again, my primary point is that for our industry, for the large range of possible outcomes, Uber is a success. Once you understand that, a lot of decisions VCs make and certainly did make in the low interest rate environment from 2010-2022 make a lot more sense.
Funny money != cash, once you understand that, the demise of a lot of these "successful" companies like Uber will make a lot more sense.
Uber is not profitable until money out > money in, period (and we are forgiving them interest + inflation).
Even if a couple investors were able to flip the stock and made some money out of what seems to be a scam with extra steps, that still doesn't make Uber profitable, and they're still far from being a success, IMO.
