Not to say “I told you so,” but we passed Peak Uber last Spring. This early innovator is following many like it into oblivion. The infrastructure will remain, but it will be someone else’s asset, probably a carmaker’s.
After a discombobulated 2016, in which Uber burned through more than $2 billion, amid findings that rider fares only cover roughly 40 percent of a ride, with the remainder subsidized by venture capitalists, it’s hard to imagine Kalanick could take the company public at its stunning current valuation of nearly $70 billion.
Source: Uber Is Doomed