Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
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| Statement |
|---|
| Like it is, we have a very nice balance between driving innovation around newer products, around driving growth and driving innovation around saving costs |
| Engineers using copilot, we see incredible promise there |
| But the platform advantages that we have and the technical advantages that we have in terms of payment and fraud and CPT put us in a very strong position |
| But every year, we can improve on grocery margins at the same time and get to a profitable business |
| So, that puts us in a position where we are quite confident that over the next 2 years to 5 years, we can grow grocery top line |
| That drives higher Reserve usage, and it’s another benefit that we’re bringing into Mobility for a high-margin product |
| And spending much more time with our technical teams, our product teams, we now have very strong economics in the business |
| So we’re thrilled about the progress there |
| So we have a terrific partnership, for example, with an Amex that provides very broad benefits to our product |
| And we’re quite confident, for example, that our taxi product is going to be a very profitable product at maturity |
| And based on various take rates and based on product mix, we’re quite confident that we can get every single country that we operate in into EBITDA – solid EBITDA positive margins |
| The Uber brand is incredibly strong |
| So, we through a multiplicity of activities, whether it’s our maps avoiding unprotected left turns is just one example, we are able to optimize our insurance cost to rate increases that we think, all else being equal, are going to be better than industry because there is a lot of tech that we can bring to our marketplace in a way that other players can’t |
| So you’ve got a customer acquisition cost advantage, numerical advantage, and then you’ve got an LTV advantage as well |
| And if the Uber Mobility business was a standalone, right, it will be a dynamite, it is clearly the mobility leader in the world, highest growth, highest margin, highest category position |
| So, one of the leaders by far the most geographically diverse with a proven ability to grow anywhere and everywhere in the world |
| And then you’ve got membership, which is a superior membership offering than anyone else because most of the membership of other players, they offer Delivery benefits |
| And the fortunate position that we’re in is, because we’re number one in a bunch of markets, we have some excess margins that we can reinvest in these markets to grow at outsized rates and hopefully get to the top category position |
| We’re very, very happy with the product |
| And the two activity sets that we’re focused on is, we want the new Mobility margins on a stand-alone basis to improve over a period of time |
| So I think that the business – the governance is in a good place |
| So we have significant every single time you buy something on Uber, that’s an opportunity for us to upsell you into membership in a very, very compelling way |
| So, we think now, in suburbs, the restaurant supply that we have is at a good place for us to get the magic of more supply, more demand, and kind of this dynamic marketplace that we have |
| And we are quite confident that advertising in grocery is going to be actually significantly higher as a percentage of GPs than our food business |
| Instacart has built a very strong advertising product, and we are building something quite similar |
| business is doing quite well |
| We have been able to offset it through other costs, right, our margins for mobility and delivery |
| The culture is in a good place |
| That ability to move volumes around has saved us hundreds of millions of dollars in terms of going to lower-cost payment methodologies or being able to negotiate with providers and say, we are one of the fastest-growing, large transactional companies in the world |
| So not only are we the biggest in terms of multiple geographies, but being able to build a single mapping platform that powers both Mobile and Delivery, that allows us to either track, I think, stronger engineering talent or it allows us to build more sophisticated capability at either the same or lower cost than our competitors |
| Statement |
|---|
| On average, margins are negative in grocery |
| So in the markets where grocery has – in some of these markets where grocery has very high penetration, the overall market can be negative |
| Post-IPO, obviously, COVID came, which was an entirely unexpected circumstance |
| The price of used cars is coming down |
| So if you look at the life stage journeys of Uber, obviously, I came in at a very difficult time as it related to Uber leadership |
| There was one that sort of had – it showed three of your top 10 countries across both Mobility and Delivery are still not profitable |
| We saw the incrementality wasn’t that high |
| The price of repairs, generally, is coming down |
| Systems are fast, humans are slow |
| But on average, you’re absolutely right, which is the New Mobility products have a lower margin than the baseline business |
| I’m glad it’s behind us because it’s not my favorite activity in the world, but it certainly was necessary |
| Humans are slow, right |
| One of the costs in the U.S., I know that I keep getting wrong, we think we’ve gotten it wrong at least twice, I guess, 4x if we count your competitor, is insurance costs |
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