| Before the pandemic began, I took about seven or eight hailed rides each month. Since I began physically distancing from others to stem the spread of the coronavirus in March 2020, I’ve taken exactly 10 hailed rides. Last year, Uber and Lyft both reported steep revenue losses as travelers hunkered down at home, but today, Alex Wilhelm says both transportation platforms plan to reach adjusted profitability by Q4 2021. He unpacked the numbers “to see if what the two companies are dangling in front of investors is worth desiring.” Since he usually doesn’t focus on publicly-traded stocks, I asked Alex why he focused on Uber and Lyft today. “Utter confusion,” he replied. “Investors have bid up their stocks like the two companies are crushing the game, instead of playing a game with their numbers to reach some sort of profit in the future,” Alex explained. “The stock market makes no sense, but this is one of the weirder things.”
Image Credits: Bryce Durbin A quick note: today is Extra Crunch’s second anniversary! I wanted to take a moment to thank you for reading and express my deep appreciation to everyone at TechCrunch for their contributions over the last two years. Have a fantastic weekend, Walter Thompson
Senior Editor, TechCrunch
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