Uber is still losing money

Everyone is pretty high on Uber right now, however, investors are starting to get a little worried as Uber continues to lose money (and lots of it). Right now the word on the street is that Uber could be in for $3 billion of losses last year alone which is understandably troubling for investors. Vox takes a closer look at Uber and why they are spending money like it's going out of style.

It’s not unusual for a new company to lose money as it seeks market share and traction, but Uber is testing investors’ patience to a degree that’s unprecedented in the history of Silicon Valley. A December report from Bloomberg showed that the car-hailing app lost over $2.2 billion in the first nine months of 2016. That’s a staggering sum, and leaked documents suggest that Uber’s losses have grown in scale along with the company — rather than shrinking in a way that suggests a clear path to profitability.