Debullshitifying Uber's financial statement reveals a hemorrhaging fountain of red ink with no path to profitability

Uber trumpeted its Q4/2017 financial statements as evidence of the company's progress towards CEO Dara Khosrowshahi's goal of profitability and IPO by 2019; the company argued that despite losing $4.5 billion in 2017, its cust-cutting in the final quarter of the year was proof that they would eventually go from losing money on each ride to actually earning money. (more…)