Biz Bites just when we thought you couldn't get any clever you come up with this fucking title?! Genius dawg, fucking genius. But yeah, Uber did what Uber does, backs themselves into a corner and just go more into debt. But THIS debt might be worth it. Uber is going to buy Postmates for just under 3 billion and finally make a business decision that makes complete sense.
There is no question Uber has been struggling. They have risen from the ashes of the horrifying PR nightmare that encompassed the founder and previous CEO, something with Travis? Anyway he sounded like a fucking Travis that's for sure. Beyond his escapades they faced multiple downturns in revenue, firing staff, going IPO without any sign of profitability and the list keeps going. Uber has been a in need of a shining light. And what was that light? Fucking COVID-19. Yeah, no, I'm serious. That gave way to Uber Eats and their run on what is basically turning their business around.
Look the simple fact is that Uber's previous rivals, mainly being Lyft have been left in the dust. Pre-covid Uber got down with the Uber Eats side of their platform months before the whole shebang. Now with the Pandemic just getting more fuel, it is creating an even bigger moat as the previous ride-hailing giant becomes the food-delivery titan. Uber has started making way to a viable and trustworthy company. Something it has most definitely needed. Uber Eats is doubling the traffic to Uber and helping buy out time for COVID to come and go.
Uber is a smart company that is finally getting their show on the business side of things. Beating out competitors and buying them nonetheless has shown how Uber is making moves in a time where most companies are struggling for air. With Uber's new outlook on management and their more clear path towards resilance, we finally see Uber as more of an attractive stock. Like a slim-fast model doing the before and after pictures, Uber just looks better and better.
Anyway, that's my take on it. Until next time. -GS
Oh! Listen to the PODCAST BABY!!!!-- https://open.spotify.com/show/0O6osHjqe0GLftMmeDtDjH?si=5adaOFbzQlWx9y7lk8KkhA
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