Dara Khosrowshahi

And we took a different tack, which is, well, what business model is legal? and let's adjust our business model to the country versus have the country adjust to the business model. And once you're in and you build trust within a country and you build a voice, et cetera, maybe then the business model can change over a period to benefit drivers, couriers, et cetera.

So like we're in Germany, we're in Spain, we're in Japan, we're in Korea, we're in Turkey. There's a bunch of countries that we're expanding into with tweaks to the business model to make sure that we're expanding into those countries the right way. And then there's a whole host of new bets that we're making in terms of transportation, taxi, which is huge.

So like we're in Germany, we're in Spain, we're in Japan, we're in Korea, we're in Turkey. There's a bunch of countries that we're expanding into with tweaks to the business model to make sure that we're expanding into those countries the right way. And then there's a whole host of new bets that we're making in terms of transportation, taxi, which is huge.

low-cost, hailables, two-wheelers, three-wheelers, Uber for business, health, transportation, all of these different segments, that whole kind of the new bets portfolio will be 35% of our growth. So if we do it right, 50% of our growth will come from these new initiatives that really didn't exist.

low-cost, hailables, two-wheelers, three-wheelers, Uber for business, health, transportation, all of these different segments, that whole kind of the new bets portfolio will be 35% of our growth. So if we do it right, 50% of our growth will come from these new initiatives that really didn't exist.

And then on the Eats side, obviously it was about food and kind of the general expansion of that business, but it's really about getting into the other categories, getting into grocery, liquor, et cetera. And one of the parts that I'm super excited about is we've always had kind of, call it an integrated offering. If you think about Eats, there's a marketplace offering.

And then on the Eats side, obviously it was about food and kind of the general expansion of that business, but it's really about getting into the other categories, getting into grocery, liquor, et cetera. And one of the parts that I'm super excited about is we've always had kind of, call it an integrated offering. If you think about Eats, there's a marketplace offering.

You come to Uber Eats and Eats is bringing you demand. And then there's the fulfillment of that demand, right? My bringing wine here and delivering it, right? Thank you. This is delicious, by the way. That has nothing to do with demand necessarily, but it's fulfillment. These are two separate businesses that got stapled together. Exactly. So we have now, we're separating the tech stack, right?

You come to Uber Eats and Eats is bringing you demand. And then there's the fulfillment of that demand, right? My bringing wine here and delivering it, right? Thank you. This is delicious, by the way. That has nothing to do with demand necessarily, but it's fulfillment. These are two separate businesses that got stapled together. Exactly. So we have now, we're separating the tech stack, right?

So that now we can offer, we can go to merchants and say, if you want marketplace, great. But if you want fulfillment, we can offer you fulfillment in a separable way. So for example, Walmart, isn't in our marketplace because they're Walmart, they have an incredible brand, et cetera, but they use our fulfillment services.

So that now we can offer, we can go to merchants and say, if you want marketplace, great. But if you want fulfillment, we can offer you fulfillment in a separable way. So for example, Walmart, isn't in our marketplace because they're Walmart, they have an incredible brand, et cetera, but they use our fulfillment services.

And more and more that our vision is we essentially want the local grocer to out Amazon, Amazon. Like every single local business can deliver same day, which is better the next day. If we can connect that to marketplace, that's great, but that can also be a separate part of our business that can grow and thrive.

And more and more that our vision is we essentially want the local grocer to out Amazon, Amazon. Like every single local business can deliver same day, which is better the next day. If we can connect that to marketplace, that's great, but that can also be a separate part of our business that can grow and thrive.

It does. It's complex. It looks great on paper, and then real life is a lot more difficult, right? Yeah.

It does. It's complex. It looks great on paper, and then real life is a lot more difficult, right? Yeah.

Our working with taxis was an interesting twist, right? Which is to some extent, They have been definitionally the competition, or we have been the competition or the challenger to those incumbents. At some point, we became much bigger than taxi.

Our working with taxis was an interesting twist, right? Which is to some extent, They have been definitionally the competition, or we have been the competition or the challenger to those incumbents. At some point, we became much bigger than taxi.

But in the end, if you remove yourself from the emotions, et cetera, and we're competing against X or Y, we're in the job of wiring up vehicles and drivers who want to drive people to places, and that includes taxi. There are four and a half million of them, And if you take the hypothesis, which is the days of old where you wave your arm to wave a taxi down, like things are changing.

But in the end, if you remove yourself from the emotions, et cetera, and we're competing against X or Y, we're in the job of wiring up vehicles and drivers who want to drive people to places, and that includes taxi. There are four and a half million of them, And if you take the hypothesis, which is the days of old where you wave your arm to wave a taxi down, like things are changing.

then it was a move that was obvious. But at the same time, like the beauty of Uber is when you get into the actual challenges, like for example, we launched taxi and the way that we match generally Uber is one-to-one. So you hail for an Uber, we will match you, we'll make an offer to a specific driver, driver says yes, driver comes pick you up, et cetera.