The future of transportation network companies is far from settled. While influential in the popular consciousness, companies like Uber haven't figured out how to make money.
Eric Newcomer reports on the "eye-popping" losses for Uber.
In the first nine months of this year, the ride-hailing company lost significantly more than $2.2 billion, according to a person familiar with the matter. In the third quarter, Uber lost more than $800 million, not including its Chinese operation.
A small silver lining for the company, according to an anonymous source reported in the story, is that the company has continued to grow its revenue—$3.76 billion in net revenue in the first nine months of the year, toward an expected $5.5 billion for the year.
According to Newcomer, 2016 was marked by the company's decision to leave China. The most recent bad news cycle came as the company rolled out self-driving cars to the streets of San Francisco without any regulatory clearance. On the first day of operations, one of Uber's self-driving cars failed to stop at a red light.
Hong Kong Cab Hailing App Folds — and Uber Takes Over
HKTaxi launched a year before Uber came to town. Now, it’s shutting down. Lawmakers worry a monopoly looms.
Minnesota Lawmakers Reach Ride Share Compromise
A law awaiting the governor’s signature establishes wage rates for drivers. Ride share companies say if the law passes, they plan to continue service in the state.
Uber Sees Record Ridership, Finally Posts a Profit
The ride-hailing giant posted an operating profit for the first time in its history, thanks largely in part to its successful food delivery business.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Canada vs. Kamala: Whose Liberal Housing Platform Comes Out on Top?
As Canada votes for a new Prime Minister, what can America learn from the leading liberal candidate of its neighbor to the north?
The Five Most-Changed American Cities
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San Diego Adopts First Mobility Master Plan
The plan provides a comprehensive framework for making San Diego’s transportation network more multimodal, accessible, and sustainable.
Housing, Supportive Service Providers Brace for Federal Cuts
Organizations that provide housing assistance are tightening their purse strings and making plans for maintaining operations if federal funding dries up.
Op-Ed: Why an Effective Passenger Rail Network Needs Government Involvement
An outdated rail network that privileges freight won’t be fixed by privatizing Amtrak.
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