File PhotoRichard Perry. ■ By Richard Perry / Contributed Greetings from The Hemet Car Guy, In past articles I’ve written about the benefits and actual cost comparisons of owning a car versus using Uber and Lyft. All this time I thought the transportation apps were just bringing oodles of money in, and I wished I thought of the idea first. However, according to published sources like Business Insider, Bloomberg, Crunchbase, Future Advisor, and Forbes, it’s said the companies have been racking up substantial financial losses. Uber, which has never recorded an annual profit, lost $2.8 billion in 2016, and another $4.5 billion in 2017, according to published reports. Lyft, which is
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