Dara Khosrowshahi

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.

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.

And by the way, I think that's a healthy thing, right? It's if you kind of step back, You know, the increase in salary and wages for blue collar jobs hasn't kept up with the salary of like tech workers or, you know, capital, et cetera. So I think the catch up is a really healthy catch up. That is the reason why Ubers are more expensive now.

And by the way, I think that's a healthy thing, right? It's if you kind of step back, You know, the increase in salary and wages for blue collar jobs hasn't kept up with the salary of like tech workers or, you know, capital, et cetera. So I think the catch up is a really healthy catch up. That is the reason why Ubers are more expensive now.

Now, in this environment where we are adding supply faster than demand because the supply is really coming into the marketplace, prices in Uber now year on year are down. So again, it is a supply demand.

Now, in this environment where we are adding supply faster than demand because the supply is really coming into the marketplace, prices in Uber now year on year are down. So again, it is a supply demand.

So, there's complexity in terms of all of the stakeholders that you have to think about. And that's like, it's a difference between chess and like four dimensional chess. It is like Expedia, travel agency, you're bringing demand to your supply base, et cetera. And you have to think about the travel ecosystem. But with Uber, Uber is like a incredibly important service to the cities of the world.

So, there's complexity in terms of all of the stakeholders that you have to think about. And that's like, it's a difference between chess and like four dimensional chess. It is like Expedia, travel agency, you're bringing demand to your supply base, et cetera. And you have to think about the travel ecosystem. But with Uber, Uber is like a incredibly important service to the cities of the world.

Exactly. You're not, you know, making up the hotel rooms. Exactly. You know, the drivers are providing the service, right? But we're much more responsible end-to-end. but you're responsible for your customers. We have a very, very important responsibility to driver and courier community, these over 5 million people who are making an earning or making side earnings on Uber.

Exactly. You're not, you know, making up the hotel rooms. Exactly. You know, the drivers are providing the service, right? But we're much more responsible end-to-end. but you're responsible for your customers. We have a very, very important responsibility to driver and courier community, these over 5 million people who are making an earning or making side earnings on Uber.