Jason Helfstein

You cut the price target, like $15.

Sure.

So the reason we cut our price target was we had to take our profit estimates down.

So the reality is like, you know, the business is not running as profitable as we had previously thought.

Most of it has to do with them leaning into Uber One membership growth and just other promotions or drive usage.

And so

I mean, it did pay off.

They had 46 million Uber members, Uber One up 55%.

I think that's probably faster than any other subscription model is probably growing right now.

So yeah, Uber One completely working.

And then the way they generally get people to sign on is they largely target you through food delivery.

And once they get you to like sign off, you can get like deals on rides, free upgrades, cap surging, et cetera, et cetera.

And then they're trying to change user behavior.

But yeah, so that was specifically the numbers.

But look, on RoboTaxi, we call that a terminal risk.

Like it's

Far in the future, but everyone acknowledges RoboTaxi will happen.

The big debate will be, do you have one or two companies who run away with the technology?

Does it become commoditized and you're going to have 10, 20 companies, every automaker will be able to produce a self-driving car at some point in the future?

And therefore, if you can aggregate all of that supply to the consumer, a Uber, you end up doing well.