Should you invest in Uber? Well, the company behind everybody's least favorite part of the weekend just reported their first quarter earnings for 2024, and we need to talk about it. Shares fell off a cliff in response, so let's find out if you should be following shares off that very same cliff, or if now is the perfect time for the balls out there to start to buy in. All right, you guys know how this goes already.

Welcome to the five-minute appeal.

My name is David.

Let's go ahead and break down Uber.

All right, let's try to keep this one to five minutes. So let's just go ahead and dive right into it. First thing to notice is that this company is like a $15 billion market cap that puts it in like the top 150 companies in the entire world, despite the fact that the share price fell about 7% the last three months. either way, I mean, it's hard to be mad when you're up 65% for the year, very much outperforming the NASDAQ and the S&P 500, but we break that down into revenue and gross bookings growth. It becomes a little bit more cloudy. So healthy growth from both of them, but it's not necessarily ever a good thing to see revenue growth outperforming that of gross bookings. Gross bookings is effectively gross

revenue. It's all the money that Uber takes in before, you know, having to adjust for

contra revenues to shit like discounts and paying their contractors before they spit them in,

spit in their face when they ask for health care, whatever the fuck they do. But either way,

this shows a lack of effective monetization of that top line revenue. Clearly, they don't do

a great job after revenue either because operating income is down 75% compared to the same

period of last year. Other income, meanwhile, somehow they managed to lose all this money,

despite the fact that they easily could have just pivoted that into bonds or even

fucking money market than start to earn interest off of that. But either way, they led to a net

loss of $654 million for the quarter. That was following on three quarters in a row of profitability.

They completely killed the vibe in that sense. That's largely the reason for the sell-up.

Don't get confused by this jump-up in operating cash flow. Most of that was due to about $750 million in adbacks from losing so much goddamn money

on their equity in debt investment portfolios. Now, monthly active platform customers,

this set at about $149 million, basically flat compared to the the 150 million at the end of the fourth quarter of

2023, but solid growth from the beginning of 2023. R&D to sales, what we don't like to see

is this declining over time, especially when you're a maturing tech company. You want to keep your

edge through technology, and that is absolutely not what Uber is investing in right now. Maybe this

could turn around, but, you know, it's very much not a good sign when you see

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