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Jason Moiron
jmoiron.bsky.social
did:plc:elhwlhixtok6gk3q62r6mrcz
Uber's VC money was essentially used to subsidize opex. The biggest problem was that they wanted tech company valuation multiples, so they made a ton of unnecessary software capex to sell that story.
They sorted that out, but the prices had to go up once VC funds dried up; opex didn't change.
2026-04-30T16:03:06.088Z