[dkrich]

I think uber is different though. It hasn’t been founder led for several years and the current ceo was hired to cut out all r&d spend and maximize profits and revenue.

They report things like foreign currency transactions and stock based compensation as free cash flow.

The hope with uber is that they become an aggregator of AVs which belies an assumption that autonomous vehicles will essentially be a commodity. Or perhaps that AVs take much longer to become practical at scale than people think.

But one of the biggest red flags to me with this company is how they aggressively buy back stock and publicly announce that they believe it’s undervalued. You’re in the midst of an extremely competitive emerging market and your best idea for your cash is to… buy stock?