Grind for February 16th
“The future influences the present just as much as the past.”
– Friedrich Nietzsche
Uber loses $8.4 billion despite increased business
Uber lost $1.1 billion in the fourth quarter of last year despite a revenue of $4.1 billion and a threefold increase in the number of passengers. The loss, which amounted to 64 cents per share, was 24% higher than the amount lost during the fourth quarter of 2018.
Uber Eats, the company’s food delivery service, reported a 68% increase in revenue to reach $734 million (with losses of $461 million). The service now works with nearly 400,000 restaurants worldwide, a YoY increase of 78%.
In total, Uber reported losses of nearly $8.4 billion for the year – including $243 million in stock-based compensation.
Another factor affecting profitability is the growing number of sexual assault accusations from riders, of which there were more than 3,000 in 2018. Last December, the company paid $4.4 million to settle a federal sexual harassment probe into its corporate culture.
Despite the setbacks, Uber CEO Dara Khosrowshahi is confident the company will turn a profit during the fourth quarter of 2020 (a revision from 2021).
Last year was “transformational” for Uber, said Khosrowshahi in a statement about earnings. “We recognize that the era of growth at all costs is over. In a world where investors increasingly demand not just growth, but profitable growth, we are well-positioned to win through continuous innovation, excellent execution, and the unrivaled scale of our global platform.”
Uber stock is currently trading at roughly 18% below its IPO price.
NASA astronaut Christine Koch breaks record for longest time spent in space by a woman
NASA astronaut Christine Koch returned to Earth Thursday after spending 328 days aboard the International Space Station. Her offworld trip was 39 days longer than the previous record, held by NASA astronaut Peggy Whitson.
The record for longest single stay in space is held by Russian cosmonaut Valeri Polyakov, who spent 437 days and 18 hours aboard the Mir space station.
Koch’s trip included the first all-female spacewalk, which occurred October 18th, 2019 when she ventured outside the ISS with fellow NASA astronaut Jessica Meir to repair a power controller.
“We caught each other’s eye and we knew that we were really honored with this opportunity to inspire so many,” said Koch. “And just hearing our voices talk to Mission Control, knowing two female voices had never been on the loops, solving those problems together outside – it was a really special feeling.”
Upon returning to Earth, Koch says she will miss zero-G and her fellow astronauts but is really looking forward to the beach.
“I live near the beach and I absolutely love the water, so hopefully going for a swim or a surf or just walking my dog on the beach, feeling the sand, feeling the wind…I can’t wait to be out in nature.”
GOOD TO THE LAST DROP:
Did you know… Blue eyes are a genetic mutation. Before the mutation occured, all humans had brown eyes.