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A delirious defence of Uber

Uber Technologies, a .5bn minicab company, had a bad second quarter -- registering a loss of bn. Izzy, in her inimitable style, compared it to a cash burning art installation, as part of a show curated by the artist Simon Denny.However according to an opinion piece in Business Insider, the results are nothing to worry about:Uber stock dipped 8% last week after the company recorded a larger than expected net loss, of .2 billion. It added to the impression that Uber is simply burning cash, subsidising cheap taxi rides to grab market share, with no real idea of how to turn itself into a sustainable, profitable business."I think that there's a meme around which is, can Uber ever be profitable? I certainly heard that that meme along with others," CEO Dara Khosrowshahi told analysts on

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Uber Technologies, a $62.5bn minicab company, had a

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FT Alphaville is a free daily news and commentary service giving finance professionals the information they need, when they need it. In a world where market professionals are inundated with information there is a pressing need to edit and filter, and hopefully sow a few ideas along the way. That’s where the FT Alphaville team comes in.

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