Dara Khosrowshahi --
“While our consumers tend to be higher-income, we’re not seeing any softness or trading down across any income cohort,” Khosrowshahi said on an earnings call with analysts. “We’re confident that Uber can perform well because of the counter-cyclical nature of our platform.” These companies also aren’t facing comparable pressure to invest in AI, allowing them to either take risks elsewhere or cut costs. AI momentum has been more about producers of AI models and infrastructure than about AI users like Uber, Baker said, adding that the rideshare firms’ existing tech is already up to the task of handling the needs of ride-hailing apps.
If anything, this earnings season suggests that consumers consider travel a discretionary expense, with companies such as Airbnb Inc. and Booking Holdings Inc. signaling soft demand, particularly in the US. Airbnb shares suffered their biggest intraday loss after the company delivered a weak forecast for a third straight quarter.