They're trying to become too big to fail, but aren't quite there yet.
Essentially they're undercutting all competitors by artificially keeping fares very low and subsidizing drivers. Subsidies were the primary source of their enormous financial losses in 2016.
Once the competition is completely gone (local cabs, and Lyft in some areas), then they can stop subsidizing themselves and basically hold a monopoly. It's their entire strategy.
Essentially they're undercutting all competitors by artificially keeping fares very low and subsidizing drivers. Subsidies were the primary source of their enormous financial losses in 2016.
Once the competition is completely gone (local cabs, and Lyft in some areas), then they can stop subsidizing themselves and basically hold a monopoly. It's their entire strategy.