Ladies and gentlemen, welcome to Grant's Interest Rate Observer Radio.

It is a pleasure indeed to have you with us, and a pleasure too, especially, I should say,

to have Hubert Horan, who is an aviation consultant who has taken up a hobby of analyzing Uber.

And readers of grants know a little something about the excellence of his work because

we featured some of Hubert's thoughts in an issue of grants earlier this year,

that concerning Uber.

So in just a moment, we'll talk with Hubert Horan about how he sees that

that, should we say, colorful and newsworthy ride company in just a moment. But first, a word from

Grant's interest rate observer. Hey, have you ever set out to clean the attic but settled

down instead to read that pile of old National Geographic that you would actually

meant to dust? Well, someone else can clean the attic. You'll have had 90 minutes of discovery.

Now, the Grant's archival attic doesn't need cleaning, but it's supremely well-stocked.

Subscribers may roam at will among four million words, the equivalent of what?

40 full-length books, nonfiction, of course. That's 34 years, providing you with a singular,

colorful, and generational history of finance in our time. Priceless. Well, not exactly,

well, the priceless, to be sure, comes with your subscription. So please do subscribe. Our mission is

to restore critical judgment, impart perspective, and serve up original deeply researched

investment ideas. Every two weeks for well-nigh-34 years, Grant's interest rate observer

thinking required. So with us today, as I mentioned, is Hubert Horan. And with joining me

in the Grant's Interest Rate Observer Radio Studio is the great Evan Lorenz and at the dials,

Eric Whitehead. Your work on Uber showing that most of their cost are variable and that losses scale

as revenue scales has been incredible.

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