The Intrinsic Value Podcast - The Investor’s Podcast Network TIVP016: Uber (UBER): Cash Burner To Compounder? w/ Shawn O’Malley & Daniel Mahncke
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Apr 20, 2025 Shawn O’Malley and Daniel Mahnke dive into Uber's transformation from a cash-burning giant to a profitable powerhouse in 2023. They explore its global growth strategies, revealing why international markets outpace U.S. profitability. The duo discusses Uber's competitive tactics against Lyft and the implications of investing in rivals. Listeners will learn how autonomous vehicles may actually benefit Uber and why notable investors like Bill Ackman have placed big bets on the company. The analysis also touches on regulatory challenges and Uber's innovative ventures like Uber Eats.
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Grocery vs Restaurant Delivery Risks
- Grocery delivery has recurring demand but grocers may cut out third parties like Uber over time.
- Uber's core restaurant delivery remains strong since independent restaurants rely on its platform.
Uber Eats vs DoorDash Dynamics
- DoorDash leads US food delivery with about two-thirds market share.
- Uber Eats acts more as a cross-selling tool within Uber's ecosystem than a market share challenger.
Bill Ackman's Bullish Uber Thesis
- Bill Ackman invested $2 billion in Uber, seeing it undervalued with big autonomous vehicle opportunities.
- Uber's scale and technology make cutting out Uber by AV companies economically irrational.