In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
Conversely, Uber reported a quarterly gross profit of $1.165 billion on 31 December 2020, that grew to $1.881 billion on 31 December 2021. Yet Uber experienced substantial growth in 2021. For example, Uber’s quarterly revenues grew from $3.165 billion on 31 December 2020 to $5.778 billion on 31 December 2021.
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Thus, I think the gig economy could collapse because gig economy success requires a large middle class with a lot of disposable income. However, we could soon return to a 1930s economy where only a minority has disposable income.
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However, Lyft reported $1.017 billion in quarterly revenues and a $514.21 million quarterly gross profit on 31 December 2019. Conversely, Lyft reported a -$381.81 operating loss on 31 December 2019.
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For instance, Beyond Meat reported an operating loss of -$5.3 million and a net loss of $-6.65 million on 30 March 2019. Conversely, Beyond Meat had a gross profit of $10.77 million on revenues of $40.21 million at the end of March. Yet Beyond Meat recorded a negative free cash flow of -$17.77 million and an operating free cash flow of -$13.29 million on 30 March 2019.
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“Let me be very clear there is not a financial crisis,” Eisman clarifies. “In a recession people will lose money, and I think where they will lose money will be in the bond markets because there’s some much liquidity it’s harder to clear pricing.”
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