NoRoundTrips

Convinced $UBER bears have no idea what $UBER's strategy has been since they are hyper-focused on AV's killing them but I will share some thoughts... The Q3 '25 numbers... gross bookings are up 21% to nearly $50B. That doesn't look like a dying business. In fact, they are reaccelerating despite Waymo marketshare being the largest it has ever been in markets where it is not partnered with $UBER. The logic of $UBER being the demand aggregator is very sound: Utilization: Robots are expensive assets. You can't have them sitting idle. This will be tough for bears to understand 🤣 but the demand for ride-sharing fluctuates A LOT. Relying on AV networks would likely mean there would be an oversupply of AV's a majority of the time (and most of the time these depreciating assets will be fighting each other to fill demand during a majority of the non-peak hours) How does Uber fix this issue? Uber uses AV's for the predictable base demand and human drivers for the peaks (rush hour, weird routes). That's why Waymo partnered with them in Austin and Atlanta. Waymo gets instant volume/utilization without having majority of idle depreciating assets (wait what Uber network actually has value???). Uber keeps the customer interface. They aren't getting replaced. They're becoming a bigger/better aggregator. Another extremely large (and largely ignored) plot-hole in AV's dominating $UBER to consider is climate. AV's have only proven to work in sunbelt states (ideal climate conditions). They are beginning to map out in harsher climate cities but places like the mid-west during the winter would likely never work for AV's in the near future. My last thought is Avride entering Texas (partnering with Uber in both delivery and rideshare) is pretty much the last nail in the coffin for the thesis that AV's are killing Uber. Before when it was just TSLA and waymo in the market there could have been a chance of a duopoly squeezing Uber out. With Avride plugging into the Uber network along with other future OEM projects that will come online very soon it is very clear that the market WILL be fragmented for most use-cases. It doesn't matter if waymo is better at inter-city travel because a majority of use-cases all AV's will be a commodity. The fragmented market essentially takes the the AV issue out of the equation and makes Uber the dominant demand aggregator that it already is. I tried to keep it simple for $UBER bears but prove me wrong that none of these hold. Please, I am a reasonable/logical person 🤣