Post by
NineLives on Oct 12, 2020 8:47pm
It’s been proven over and over again
There is no profit in becoming a taxi service to the world, only local taxi services make money as they have regular custom. Lyft, Uber and now FD have all failed miserably yet investors keep throwing money at this sector. Food delivery, margins are so tight it puts restaurants out of business. Taxi hailing, margins are so tight most drivers never recover the actual cost of the ride. It's a massive business failure and one day investors will wake up and realise this. Why SoftBank and the Saudi investment fund support these ventures is beyond comprehension!
Comment by
edwardoboo79 on Oct 12, 2020 9:54pm
fd never intended to be anything more than a pump and dump. Became quite obvious when they announced the deal with medtronics online services. A shady company that is located out of virgin Islands with no online presence. FD isn't even in the same category as lyft and uber as they at least have customers.
Comment by
NineLives on Oct 13, 2020 6:18am
Uber and Lyft may have customers but what’s the point if you can’t make money off them. A stat for you. Since 2016 UBER has lost close to $20 Billion in operations earnings. $20 Billion.. it’s mind boggling. Be like you running a lemonade stand and paying $1 for a full glass but selling it for 10 cents. And repeating over and over and over.
Comment by
thorgb1 on Oct 13, 2020 9:04am
Amazon lost $5-10B in its first 3 years of operations as well. What's your point? If you think this is simply about ride sharing, you need to do more homework.
Comment by
edwardoboo79 on Oct 13, 2020 10:02am
point is amazon was still generating revenue from customers. Facedrive has very few customers and has shown its more interested in scamming retail investors than building a solid company.
Comment by
LisandraG on Oct 13, 2020 3:37pm
Amazon is a completely different business though. I am not sure where the comparison would even come from. Amazon is a business accessible from everywhere no matter what is going on in the world and that helped them a great deal during the lockdown. Up until the beginning of the country wide lockdown, Facedrive specialized in rideshare. It is comparing apples to oranges.