Uber Still hasn’t made a profit: Uber drivers win their first ever unionization deal in the United Kingdom 😂 – May 27, 2021,
So yea, to those that don’t know, Uber still hasn’t found profitability and it appears if it ever becomes profitable it will be at the expense of the consumer and taxpayer. Uber hasn’t made any money, if interest rates were normal, Uber’s stock would be worthless, there are a lot of tech stocks that have value only because of the Central banks.
Now, in the modern era, most people I guess are adjusting the notion that zero percent interest rates are the new normal and that’s fine, but individuals unaware of what’s happening in the global economy are going to be surprised when certain ideas don’t pan out the way they imagined.
Now, if Uber was profitable and they were unionized, I could argue that at the very least there was money there to consume, but unionizing prior to profitability tends to equate to any growth being derived via the government artificially propping up an asset. Being that Uber couldn’t make a profit with near-zero percent interest rates, one can only imagine what their business model looks like with a labor union to worry about.
Interesting times ahead