Is Uber stalling?

Beyond Today

BBC

News

4.6 • 1.1K Ratings

🗓️ 13 May 2019

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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Summary

Uber made its stock market debut last week as boss Dara Khosrowshahi rang the opening bell of the New York Stock Exchange to begin trading. But this story is about more than stocks and shares. It’s the story of a company that plans to dominate the global transport business, despite the fact that is has admitted it may never make a profit. We spoke to our technology correspondent Rory Cellan-Jones to find out how that works and also to Kim Gittleson from the Wall Street Journal podcast to find out who did make money last Friday. Producers: Duncan Barber and Philly Beaumont. Mixed by Nicolas Raufast. Editor: John Shields.

Transcript

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0:00.0	BBC Sounds, music radio podcasts.
0:06.6	Hello, I'm Tina Dehealy.
0:08.1	This is Beyond Today from BBC Radio 4.
0:10.4	Every day we ask one big question about one big story.
0:14.0	Today is Uber Story.
0:27.0	Today is Uber Stalling. Today's episode starts with the ringing of a bell at the New York Stock Exchange.
0:36.4	This kick-started the trading of Uber shares on Friday as the company went public,
0:41.5	so now anyone can invest but this story is about a lot more
0:45.8	than stocks and shares if you live in a big city Uber has become a big deal
0:50.9	whatever you think of it easy Easy to use, you don't need cash, and you're no longer stranded after a night out.
0:57.0	But that's just the start. As we're going to find out, it has even bigger plans for the future, basically world domination.
1:06.8	But what's confusing is that Uber admitted last week it may never make a profit, which doesn't seem to add up. So we're going to find out what's
1:15.1	going on from our technology correspondent Rory Kathleen Jones but before
1:19.3	that back to last Friday and the ringing of that bell at the New York Stock Exchange.
1:24.3	Thanks for coming in and doing this for us.
1:27.1	Kim Gittlesome used to work with us here at the BBC and has appeared in previous
1:31.2	beyond today episodes about WhatsApp's up and what about Amazon CEO Jeff Bezos. Well now she's got a
1:37.2	podcast of her own at the Wall Street Journal but made time to pop back in to see us
1:42.3	to tell us about Uber.
1:44.0	So on Friday, Uber finally makes its market debut.
1:47.0	You've got the CEO, Daracost Rashi, there.
1:49.6	You've got some of the co-founders on the floor.
	...

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