Uber’s Re-Evaluation of Freight Follows Steep Losses

By Jennifer Smith Close Jennifer Smith May 18, 2020 5:10 pm ET Uber Technologies Inc.’s truck-brokerage business has helped reshape freight brokerage, but it might not be doing enough to shore up the finances at its parent company.

Newsletter Sign-up The Logistics Report Top news and in-depth analysis on the world of logistics, from supply chain to transport and technology. Uber Freight had until recently been in expansion mode. In September Uber unveiled plans for a Chicago hub that would serve as its Freight headquarters, saying it planned to hire thousands of employees.

Uber’s digital load-matching “is fairly vanilla, and only the tip of the service iceberg [that] brokers provide,” said Jeff Tucker, chief executive of Haddonfield, N.J.-based freight broker Tucker Company Worldwide Inc. “With a plethora of digital freight matching technologies being employed by incumbent brokers, it’s tough for startups to make a meaningful dent.”Uber Freight and its digital rivals are still small players compared with the sector’s biggest operators.

The only success Uber has had thus far is obtaining a nonzero stock price for a company that is obviously worth less than zero. We breathlessly await its impending success.

and their autonomous driving project can’t be funded. There goes their long term strategy of providing driverless service. Leaving that field exclusively to Tesla.

Does Uber have any business divisions that actually generate a profit

veenadubal

Uber has zero income when/if drivers don’t show up for work as witnessed in this covid19 environment.

Uber is a bullshit company. All they is consistently loose money.

I hope the whole industry collapses on itself. Greedy economic capitalists. Send these terrorists to one island and let them play king of hill elsewhere.

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