Is anyone really surprised? Years before the IPO we knew they were not profitable in the least. We knew VC cash was subsidizing rides. We knew that their future was purely dependent on a self-driving car fleet where they could ditch drivers (and their pay) completely. This on top of a horrible culture with pretty lousy ethics and morality.
This is how this was supposed to play out and everyone here (on HN) knew that. The only people suckered were public investors during the IPO roadshow.
This is how this was supposed to play out and everyone here (on HN) knew that. The only people suckered were public investors during the IPO roadshow.