Uber CEO says business is 'absolutely sustainable' after losing $5 billion in three months

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In an interview with CNN correspondent Christiane Amanpour that will air Wednesday, Dara Khosrowshahi defended Uber's business model

In an interview with CNN correspondent Christiane Amanpour that will air Wednesday, Khosrowshahi defended Uber's business model, which involves the company investing heavily in promotions to entice customers to its on-demand ride and meal-delivery offerings."The model is absolutely sustainable," Khosrowshahi said."The business, for example, is still growing 30-plus percent on a global basis.

The law could increase driver costs for Uber in the state, and trigger similar legislation nationwide. Uber has claimed the bill will not require it to reclassify the drivers, and Khosrowshahi echoed those statements when speaking with Amanpour."The law, of course applies, but we don't think that the law, as it relates to us, would classify our drivers as full-time workers," Khosrowshahi said.

 

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They definitely need to do a far better job of background checks on drivers and have letters of recommendation from previous employers. Why is it that the of attacks has increased dramatically since the advent of Uber? Not so with regular cab services.

Yeah because that model worked so well for Sears, oh wait...

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