Dara Khosrowshahi

So we accelerated trip growth, which is not something that you see at our scale, but it's some of this stuff working out.

It's this very cool experiment.

It's this very cool experiment.

Yeah, if you ask our... top economist at Uber, he would say that we actually don't control the price to the consumer. That it's actually the spot price for this kind of labor the marketplace sets based on the supply of labor coming in and the demand for transportation. And so there's this, you know, people say like Uber's setting prices. He'd say, we're not setting prices.

Yeah, if you ask our... top economist at Uber, he would say that we actually don't control the price to the consumer. That it's actually the spot price for this kind of labor the marketplace sets based on the supply of labor coming in and the demand for transportation. And so there's this, you know, people say like Uber's setting prices. He'd say, we're not setting prices.

The marketplace is setting its own price.

The marketplace is setting its own price.

Well, I think we're in the scale business, right, which is we essentially wire up every form of transportation of whether it's people or things. And, you know, it's increasingly people and then shared taxis, et cetera. Right. There are four and a half million taxis in the world who would imagine that Uber will be working with taxis. But we're going to wire up every single taxi in the world. Right.

Well, I think we're in the scale business, right, which is we essentially wire up every form of transportation of whether it's people or things. And, you know, it's increasingly people and then shared taxis, et cetera. Right. There are four and a half million taxis in the world who would imagine that Uber will be working with taxis. But we're going to wire up every single taxi in the world. Right.

And then on the curbs and the cabulises and the flywheels. And by the way, we work with them. A lot of times we will connect through them as intermediaries, again, to wire up these taxis. And then we've gone from food to alcohol to groceries, et cetera. And then we have a freight business as well. So the more we wire up... You guys have boats now? I'm sorry? You have boats now?

And then on the curbs and the cabulises and the flywheels. And by the way, we work with them. A lot of times we will connect through them as intermediaries, again, to wire up these taxis. And then we've gone from food to alcohol to groceries, et cetera. And then we have a freight business as well. So the more we wire up... You guys have boats now? I'm sorry? You have boats now?

We have boats in Mykonos, which is pretty cool. We have boats on the Thames, too. It's just like if it moves and it carries people and things, we're going to wire it up and make it available on demand. That usually brings in the demand for transportation, etc., And then it's like math, you have to do it in a more and more efficient way.

We have boats in Mykonos, which is pretty cool. We have boats on the Thames, too. It's just like if it moves and it carries people and things, we're going to wire it up and make it available on demand. That usually brings in the demand for transportation, etc., And then it's like math, you have to do it in a more and more efficient way.

I think one of the secret sauces that we have is we have a very large and capable marketplace team. These are ML engineers who are building out the systems that match price all of this connectivity. And when you're working over an ecosystem of 2 billion transactions a quarter,

I think one of the secret sauces that we have is we have a very large and capable marketplace team. These are ML engineers who are building out the systems that match price all of this connectivity. And when you're working over an ecosystem of 2 billion transactions a quarter,

The data sets that we have, the experimentation that we can do in terms of what's the most optimal match, how do you price, et cetera, it's just a bigger database than anyone else. So every year when I can't speak to how our competitors are matching and pricing, but every year matching and pricing probably improves by 5% a year. So you improve the marketplace throughput by about 5%.

The data sets that we have, the experimentation that we can do in terms of what's the most optimal match, how do you price, et cetera, it's just a bigger database than anyone else. So every year when I can't speak to how our competitors are matching and pricing, but every year matching and pricing probably improves by 5% a year. So you improve the marketplace throughput by about 5%.

everything else being the same. And that's like free growth. And when it's on top of, you know, call it 120, $130 billion run rate, it gets big. And again, it's compounding like every year, this machinery gets better.

everything else being the same. And that's like free growth. And when it's on top of, you know, call it 120, $130 billion run rate, it gets big. And again, it's compounding like every year, this machinery gets better.

Correct. The cost of labor has gone up, right? I mean, how much you have to pay for any kind of blue collar job, you know, everybody's talking about it, right? The bunch of retailers were having trouble hiring enough people, restauranters, et cetera. And then it did become more expensive to bring drivers into the Uber ecosystem. Earnings expectations have gone up.