Uber does the impossible: Made money

🍾 Proving haters wrong

Uber, the ride-hailing giant once known for its bottomless pit of losses, did an impressive U-turn in 2023, showcasing a net income of $1.4 billion.

This is a sweet turnaround from their early days of relentless “whatever it takes, just grow” strategy. Critics even declared Uber's business model fundamentally flawed.

However, Uber surprised everyone with a strategic shift. They cranked up fares, made peace with their former nemesis - taxi fleets - and squeezed every penny for efficiency. The results?

• A 15% revenue growth to $9.9 billion.

• Net income of $1.4 billion

• Having 26 million daily riders

💵 Drivers still get the short end of the stick

But not everyone's celebrating just yet. Driver shortages back during the pandemic led to frantic cash injections to lure them back, causing losses during COVID.

Now, drivers, are still feeling the pinch, continuing to strike over making less money than before.

Despite the hiccups, Uber's shift is a big deal. It silenced the naysayers and opened the door to a potentially brighter future. But there's still work to be done. It’s best to just watch out for driver satisfaction and Uber's tech investments as they navigate this new course.