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Investors who dumped Uber stock last week are idiots: Here's what's really going on.

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Geekz Snow

CEO Dara Khosrowshahi complained that people are still asking, "can Uber ever be profitable?"

Uber didn't "lose" $5.2 billion in Q2, as the headlines suggested.

Uber's cash on hand went up to $11.7 billion.

The company makes money hand over fist.

It added to the impression that Uber is simply burning cash, subsidising cheap taxi rides to grab market share, with no real idea of how to turn itself into a sustainable, profitable business.

"I think that there's a meme around which is, can Uber ever be profitable?

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Geekz Snow
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