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Should Uber Continue to Develop its Autonomous Ride-hailing Services?

Info: 7190 words (29 pages) Example Research Project
Published: 19th Oct 2021

Reference this

Tagged: Business Strategy

Table of Contents

Research Proposal……………………………………………………..........................4-6

Executive Summary……………………………………………………...........................7

Introduction .................................................................................................................8

Methodology.............................................................................................................8-9

Results and finding .................................................................................................9-10

Analysis and Discussion.........................................................................................11-17

Evaluation...................................................................................................................17

Conclusion..................................................................................................................18

Recommendations.................................................................................................18-19

Appendix 1.............................................................................................................19-23

Appendix 2……………………………………………………………………………...23-26

Appendix 3…………………………………………………………………………………27

References…………………………………………………………………………………28

Research Proposal

Rationale

Uber Technologies, Inc is a pioneer in the development of self-driving units, as they believe that it will coexist on the roadways to promote inevitable prosperity and market leadership. Considering the high competition, cost, labor turnover, etc. Uber experiences, autonomous vehicles are a vital facet of Uber owning the future of mobility and success.

To clear the path to profitability and growth, Uber is planning to use the Advanced Technologies Group (ATG) to design autonomous vehicles. For such a decision to be a source of growth and profitability, it will be precarious in several aspects, as this strategy is one of the biggest technological challenges of our time. Likewise, this approach puts Uber drivers out of the equation. Uber drivers have been the root of success and growth over the years but increased labor costs, labor turnover, etc. restrain growth and profit opportunities. Accordingly, Uber wants [1]“to create a cheaper, better, and safer autonomous option for consumers using Uber’s ride-hailing service,” (Shetty, 2020) to promote growth and profits. Thus, this question is asked: “To what extent should Uber continue to develop its autonomous ride-hailing services to replace drivers, as a primary source of growth and profit?”

Theoretical Framework

Employer and employee relations: Looking into the relationship between Uber and their independent contractors

Organizational planning tools: To identify the problems associated with their company’s profits and decisions and assess possible solutions to them.

Cash flow: Cash flow analysis will allow for an assessment of ideas in this aspect of business management.

Final Accounts – examining the financial ratios for a quantitative assessment of Uber’s problems.

Research and development: Different types of innovation strategies to expand are crucial to a business such as uber that aims to improve its USP.

Proposed Methodologies

Data Collection

Method

Primary Research:

- Interview

- Questionnaire

Interview:

- To get a better understanding of Uber’s decisions and possible impacts.

Questionnaire:

- To obtain qualitative and quantitative data to support my arguments.

Secondary Research:

- Balance Sheet and Financial Reports

- Websites

Balance Sheet and Financial Reports:

- This will give an overview of their final accounts, i.e., financial ratios to collect quantitative data

Websites:

- Articles from international press and extracts from Uber’s websites

Anticipated Difficulties

Anticipated Solutions

Confidentiality within Uber, which would restrict data collected

Phrase my questions in a subtle way to excerpt data from them

Insufficient qualitative data

Find as much secondary information from websites, articles, and reports, as possible

A bias in the collection of information

Consider multiple points of views in my questions, so that my questions and data are not one-sided

Financial statements are not up to date

Use the most currently available statements the company can provide

Action Plan

Tasks/Dates

October

 

November

Week

1

2

3

4

1

 

Identify a problem and research question

 

 

 

 

 

Primary Research

 

 

 

 

 

Secondary Research

 

 

 

 

 

Research Proposal

 

 

 

 

 

Introduction and Methodologies

 

 

 

 

 

Main Findings

 

 

 

 

 

Analyses

 

 

 

 

 

Recommendations and Limitations

 

 

 

 

 

Acknowledgment

 

 

 

 

 

First draft due

 

 

 

 

 

Final draft due

 

 

 

 

 

Executive Summary

Over the years, Uber has been one of the most lucrative multinational companies. The substantial cost Uber drivers demand, and the low overall driver retention has limited growth and profitability opportunities for Uber. Between 2015 and 2016, Uber introduced and launched its first driverless cars, and currently continues to develop the vehicles to promote growth and clear the path to profitability. However, the development and utilization of autonomous cars come with some anticipated detriments that Uber must consider. In this research paper, I analyze and evaluate their autonomous ride-hailing service strategy, in contrast to keeping their drivers, and provide recommendations and suggestions of cost-effective ways Uber could grow and improve profitability with one of the strategies.

I use organizational planning tools, financial ratio analysis, and strategic planning tools to assess whether the autonomous ride-hailing service is a feasible means of growth and improving the profit, market share, and cash flow.

Introduction

Uber Technologies Inc is a transportation company based in San Francisco that offers on-demand vehicles for food delivery, transportation, courtiers, etc. via a mobile app. The founders Travis Kalanick and Garrett Camp started Uber in March 2009 with the perception that technology has the ability to ignite high growth and profit opportunities. This MNC is not solely known for its unimpeachable services, but also known to be a pioneer in the development of autonomous cars ever since they patterned with Carnegie Mellon in 2015. The future of the Uber ride-hailing app is to have thousands of autonomous vehicles in cities where demand, environment, and other conditions are most favorable. Uber has generated billions of dollars from the labor of its drivers identified as independent contractors. Divers are the primary sources of high cost, which limits profit and growth opportunities. This means that developing driverless vehicles would transform the business model to promote growth opportunities, low costs, and high profitability investors desire. Nevertheless, there are underlying challenges that come with driverless vehicles. The following paper explicates how the autonomous vehicle is an efficient growth strategy and path to profitability.

Methodology

Primary research was obtained, by interviewing a former employee responsible for implementing growth strategies at Uber, to address Uber's journey with the development of autonomous vehicles and some concerns associated with this strategy. I ensured qualitative data retrieved from the interview was unbiased by asking follow-up questions that explored another viewpoint of the interviewee's perspective of autonomous ride-hailing services to replace drivers. Thus, the interview was high in reliability and validity, as data also indicated Uber's intended view. Questionnaires were also given out to ten Uber drivers, to get their perspectives on the autonomous vehicle vs. drivers. Both open-ended and closed-ended questions were asked. So, to some great extent, data collected was high in reliability and validity.

Secondary data was collected through articles and financial statements. Considering how financial statements and quantitative data varied between articles and reports, reliability of data was low. However, based on my intuition and reasoning from my arguments, I used data that reflected the intended perspectives of my paper. Thus, high in validity.

Results and findings

High revenue expenditure:

Uber drivers currently take up [2]75%-80%of every fare. In addition to the cost of drivers, Uber spends billions on R&D for the self-driving project. For instance, ATG has a [3]valuation of over $7B (Shetty, 2020), which takes up a large percent of Uber’s revenue and profit. The high revenue expenditure of paying drivers and investing in the ATG increases cash outflow, which could lead to insolvency.

Lower profitability and growth opportunities

High revenue expenditure reduces Uber’s profitability, which undermines any growth opportunities. Therefore, their hope for profitability and growth depends on driverless cars becoming a reality.

Customer loyalty and brand image issues

[4]Self-driving vehicles seem to have fatal flaws and have increased the skepticism of the safety of autonomous vehicles. Fatal crashes will discourage potential and existing customers from trusting the driverless rides and tarnish the brand image. Customer loyalty might reduce as people feel unsafe and skeptical of getting into an autonomous vehicle.

Autonomous vehicles are safer in the long-run

Even though fatal crashes might reduce customer loyalty, autonomous vehicles will prove to be safer in the long-run. This is because, once an accident occurs, the ATG takes new approaches and fixes any software issues in the cars. Crashes improve the quality of autonomous vehicles and remedy the causes of future accidents. Another deeply person safety issue that autonomous vehicles resolve is that of sexual harassment and other types of crime caused by drivers.

Higher turnover rate

Uber attempted lowering wages, which raised the driver turnover rate and complaints. [5]Drivers are also unhappy about being classified as independent contractors instead of employees since they are not guaranteed employment benefits. This contributes to the high turnover rate, as drivers try to find legitimate work, where they are considered as employees and have financial and non-financial benefits.

Analysis/Discussion

SWOT Analysis

SWOT Analysis is a business planning tool that involves assessing the strengths, weaknesses, opportunities, and threats of a business. These internal and external factors influence Uber's ability to take advantage of its autonomous ride-hailing plan. Since this paper intends to examine the degree to which the development of the autonomous vehicle is an effective strategy for growth and profit for Uber, this analytical tool supports such strategic decision making. This is because a SWOT analysis[6](Figure 1.1) showcases the different aspects of an organization, the objectives, and planning purposes, which collectively help make decisions and strategies.[7] Likewise, a SWOT matrix can then be analyzed to formulate and implement the appropriate tactic by pairing key factors.

According to Figure 1.2 below, the combination of strengths and opportunities indicates that Uber should use growth strategies to accomplish immense growth and profitability. Uber could implement growth strategies via penetrating new markets such as the autonomous ride-hailing vehicle market. Such a move will help Uber gain market share, better USP, competitive advantages, lower revenue expenditure, and other opportunities that will achieve its growth and profitability objectives. Moreover, this strategy will limit some threats and weaknesses Uber faces. Overall, to some greater extent, Uber should develop its autonomous vehicle strategy over keeping their drivers as a primary source of business growth and profit.

Figure 1.1- SWOT Analysis of Uber

Force Field Analysis

A force field analysis utilizes the management of change concept to focus on the factors going for and against a prepared change in an organization. For Uber, the business change is whether the company should implement its autonomous ride-hailing services to replace drivers.

High profit and growth opportunities are the core values and objectives at Uber. Uber endeavors to increase its market share, to benefit from competitive advantages, and reduce costs, and many of the forces that are ranked high fulfill these objectives. The expansion of autonomous ride-hailing services to replace Uber drivers will ensure exceptional revenue and profit to attract investors and promote growth. Also, the Initial R&D costs for this change to occur is a cost Uber has to bear, and effective ways to manage it can be implemented.

Figure 1.3 Force Field Diagram

Additionally, [8]most drivers are unhappy about being classified as an independent contractor and their wages. Hence, the increase in the turnover rate, which lowers productivity and revenue. Discovering such evidence supports the premise that Uber must use its autonomous vehicle strategy to prevent such detrimental circumstances.

Uber autonomous vehicles have not proven to be safe. However, with the valuable R&D being put into practice, autonomous cars will be safer in the long-run-in terms of crime-related and technology related safety. I assert so because autonomous vehicle crashes can easily be [9]remedied by fixing and updating software related problems to make future rides safer. However, there are no ways of preventing future crashes with drivers. Therefore, in the long-run, driverless vehicles are safer. Harassment and acts of fraud, such as sexual harassment and kidnapping, from drivers, have limited safety. Favourably, driverless rides are safer in this aspect. Overall, to some greater extent changing to autonomous rides far outweigh the possible risks of keeping drivers, as the driving forces are 43 points higher than the restraining forces.

Financial Ratio Analysis

[10]Profitability Ratios:

Gross Profit Margin (GPM):

GPM for year ended in Dec. 2018:

$-3,033 million$11,270 million × 100 = -26.91%

GPM for year ended in Dec. 2019

$ -8,596 Millions$14,147 Millions × 100 = -60.76%

The negative GPM in 2018 and 2019, means that Uber is earning less gross profit that can be used to help pay their expenses, such as corporate tax, R&D, interest fees, etc. Therefore, the low gross profit margin could be due to Uber’s high competition, labor costs, and lower sales as a result of COVID-19. Hence, Uber must strive to launch its autonomous vehicles, which will prevent such precarious positions and increase financial performance, profitability, and growth opportunities.

Net Profit Margin:

NPM for year ended in Dec. 2018:

$1,312 million$11,270 million × 100 = 11.64%

NPM for year ended in Dec. 2019:

$ 8,426.19 Millions$ 14,147 Millions × 100 = 59.56 %

The high NPM in 2019 means that Uber was meeting its expenses very well. The rise in NPM in 2019 by 47.92% indicates how Uber is doing well at controlling its overall costs. The rise in NPM shows the weakness in controlling their costs, which opens financial opportunities (e.g., investors), and stimulates growth opportunities and higher profitability. Additionally, in the past, NPM has had lower NPM than that of 2019 and 2018. In 2018, Uber slowed down drastically, which is evidential to the adverse impacts of low NPM. Therefore, to guarantee and maintain high NPM and motivate growth opportunities and profit, Uber should develop its autonomous transportations to allow Uber greater control over its costs.

[11]Efficiency ratios:

Return on Capital Employed:

ROCE on Sept. 19. 2019:

-23.40 %

ROCE on September 2020:

-4559.5296 22081× 100 = - 20.65%

Overall ROCE is extremely low in 2019 and 2020, which means Uber acquires low revenue from their capital employed. This indicates lower profitability at Uber, failed growth, and the inefficient use of Capital. The reason for such a situation at Uber might be due to the high cost of R&D and drivers. Hence, Uber must integrate strategies such as autonomous rides to limit costs and improve its profitability and growth possibilities.

Evaluation

Overall, this research paper is insightful to some extent. Even though the financial information and other research methods were somewhat reliable and valid, I do believe that the report overall is moderately bias.

Conclusion

In conclusion, the assessment of Uber developing its autonomous ride-hailing services to replace human drivers is a high potential primary source of growth and profit. My findings indicate that Uber is in a position were implementing a strategy to ensure inevitable, competitive advantages, and positive brand recognition and the image is crucial. Despite how drivers have played a prominent role in Uber being profitable over the years, they are an unnecessary burden in so many aspects. Thus, they must be taken out of the equation for Uber to move closer to their desirable success. The three tools used in this research paper give insight into what Uber should do to resolve its high revenue expenditure, high labor turnover rate, etc.

In the SWOT analysis, the strengths and weaknesses of Uber vividly highlight that growth strategy must be used to promote Uber's growth and profitability objective. Through market penetration growth strategies of autonomous vehicles, Uber will ignite the power in the ride-hailing industry and resolve its countless conflicts. High costs and labor turnover are what led to the decrease in profitability Uber has been enduring. Once Uber's autonomous vehicle is fully developed and launched, the company will most-likely transition into a new ear full of prosperity and growth. Already mentioned, successfully launching the autonomous vehicle is where the problem lies. However, the current high ATG costs of developing driverless cars are something Uber has to bear, as it is worthwhile in the long-run.

Recommendations

  1. Uber should use proper budgeting to endure the high ATG cost.
  2. Uber should attempt to pay drivers a higher wage to motivate them. This will increase productivity and reduce labor turnover rates. This should be a temporary approach placed to generate a fair amongst revenue that can be used to develop driverless vehicles.
  3. Once the autonomous vehicle is launched, Uber must continue to use its social media accounts to be in touch with consumers, so that they can address any complaints to do with the driverless vehicles. Such customer engagement and quick feedback from customers will improve the autonomous vehicles to enhance customer satisfaction and brand image.
  4. Once Uber has fewer costs, prices should be reduced. This will attract more customers and increase customer loyalty.
  5. Uber must find ways to catch up to its competitors who have already acquired their driverless vehicles e.g., Waymo.
  6. Acquire insurance in case of fatal crashes, which could be detrimental to Uber’s finances.
  7. Gain approval of their vehicles from the leaders of autonomous vehicles. This builds the credibility of Uber's vehicles, which will persuade customers to trust the safety of Uber’s vehicles.

Appendices

Appendix 1– Interview with the former employee (Mr. Ryan Krook)

  1. Do you believe that level 4 autonomous vehicles will help cut down costs and attract investors? Why?

“Yeah! Attracting investors is really important for any business to get more capital that can be used to continue to grow the business. Level 4 autonomous vehicles are referring to a completely driverless vehicle, so from my knowledge and you can probably put this together on your own, that the cost of a human driver is really the biggest piece of revenue expenditure at uber. Uber gives up to 75% of their revenue to their drivers. Now, part of that 75% that is being given to the drivers can be distributed to or allocated to growing the business, but unfortunately, such a significant amount is for their drivers. So, I do definitely believe that there is an opportunity to get an autonomous vehicle solution that reduces some of that revenue expenditure, to potentially increase dividends. And as an investor at Uber that got equity from being an employee of the company, that is what I am hoping for.”

  1. Uber’s autonomous car ambition is the key to uber owning the future of mobility, However, developing self-driving technology is one of the biggest technical challenges of our time. With that being said, do you think uber will achieve their self-driving vehicle goal? If no, what would be the possible consequences of uber not achieving this goal?

“I’ll tell you why it’s possible for Uber to achieve their self-driving vehicle better than any other company out there. From what I understand from working at Uber and recently talking to people like the head of research and developer being done in Toronto for the autonomous vehicle for Uber, what she said was that the last 10-20% to get to perfection is what’s going to double the time it takes to get to the autonomous vehicles. In other words, in the next 10-15 years, most time will be spent on the last pieces of getting to the fully autonomous vehicle that can operate in most conditions such as rain, the dark, snow, etc. And Uber more than any other company out there has the advantage to be able to service those rides when the technology that they are working on with the ATG becomes available, and because of that, I believe that Uber will achieve their self-driving vehicle goal.”

Follow-up question: But with that 10-15 years, don’t you think that the cost of developing those vehicles will be detrimental to Uber?

“Well, I think it would be more detrimental to a company that has supported 15 years of R&D before seeing revenue. What I’m saying is, Uber has been operating for years now and generating a profit and revolve, and that revenue generated can be invested into the R&D, which compensates for the cost of developing those vehicles. Therefore, the cost will not be detrimental to Uber, rather profit would decrease, which I guess would discourage investors. But if in 5 years Uber has a technology that services say 20% of the trips people take, they’ll start generating revenue immediately from those trips which can be used to continue benefiting from developing more autonomous vehicles. And the upside to all this is that, in the long-run, Uber would be gradually growing as a company.”

  1. The fatal crash from tested autonomous vehicles have increased skepticism from top Uber executives about the project and put the autonomous unit in a precarious position. Therefore, how safe do you think self-driving vehicles will be?

I agree that the exercise of autonomous vehicles is something that is going to really be a challenge. If you think about it, if Uber has let’s say has 10,000 autonomous vehicles out on the road that is all running the same software, when one causes an accident because of software-related issues, then it means that there are 9000 vehicles out there with the same software issue that can potentially cause the same accident. With that, the autonomous vehicles have the benefit of recording everything that happens up to that accident in immense detail, so, with the recordings, the software-related issue of the 10,000 autonomous vehicles can be spotted and fixed immediately, to prevent further accidents. This vs. if let’s say we have 10,000 individual drivers, and one causes an accident, due to many individual errors and scenarios, there is no way one accident can benefit to make everyone else a better driver. So that’s kind of how I would see how self-driving vehicles will be safer.

Follow-up question: The problem with the autonomous vehicle in terms of safety, is that once one accident occurs it will ruin the brand image of Uber and discourage people from using the self-driving vehicles. So, don’t you think Uber will have problems attracting and maintaining customers after an accident?

It’s a natural thing for us to not feel any less safe with a driver because some driver on the other side of the country caused an accident, and I think that’s a very natural way people think about it. It’s just unfortunate that when one accident with the autonomous vehicles happens, it becomes a problem with the entire fleet, even though autonomous vehicle accidents can be easily remedied and prevented. And I think that it will be a hurdle to get people comfortable, and that’s just a natural human bias of being more comfortable with a human than a robot or machine.

Follow-up question: How do you think Uber would deal with fatal crashes?

Yeah. I think that will be a problem for the insurance company. In a way, insurance companies try to get the probability of an accident across thousands and thousands of drivers. I think it will be much easier to get the probability of an accident with the driverless vehicles, therefore there could be an insurance company ready to deal with fatal crashes.

  1. Has there been progress in developing self-driving cars for Uber?

Yes! So, I joined in 2017 when they had already started the project. At some point, they’ve had to toll their staff, which they did to have/test the autonomous vehicles to take trips in some cities like San Francisco. The driverless rides still had a driver in them, but the driving was being done by the vehicle. So, with activities like this, it has proven to show progress in the development of cars. For current progress, I have a colleague that works at the ATG, and I know from talking to him that they have been making progress.

  1. Do you think Uber owning their own autonomous vehicle strategy, over their drivers is the best strategy for growth?

Yeah! I think there are pros and cons to both strategies. The reason why the autonomous vehicle strategy is best for growth is because it is an opportunity for competitive advantages, and it’s a cost-effective solution that opens doors to high revenue, higher cash inflow, and profit that can attract investors and other growth opportunities for Uber to increase market share and competitive advantages.

  1. Are autonomous fleets going to be more cost-effective than human-driven fleets? Why?

I would say conventionally that there are a lot of costs that go in with hiring a driver: paying them a fair wage, fulfilling their benefits, they take breaks, etc. Vs. an autonomous vehicle that might just need a tune-up every 2 weeks or so, and will run throughout the day. Obviously, the hurdle is the investment of getting the technology there and building an actual field of vehicles, which is a whole other challenge Uber has. Right now, the only vehicles Uber has been the ones that are being tested as autonomous vehicles. Everything else is owned by individuals. It will take hundreds of billions of dollars for autonomous vehicles to be fully developed, which is for sure worth it.

Appendix 2 - Blank copy of the questionnaire and Summary of information

  1. Are you motivated to get on the wheel every day to ride for Uber? Why?
  1. Yes
  2. No

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

  1. How long have you been driving Uber for?
  1. Less than one year
  2. 1-2 years
  3. 3-4years
  4. 4+ years
  1. From an Uber driver’s perspective, do you think Uber owning their autonomous vehicles is the best strategy for growing and increasing profit? Why?

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

  1. Many drivers remain dissatisfied with that earnings opportunity, thus, how much are you paid per hour?

-----------------------------------------------------------------------------

  1. From a scale of 1-10, with 10 being you are fully content and happy. How content are you, with how much you are paid per hour?
  1. 0
  2. 1-2
  3. 3-4
  4. 4-5
  5. 5-6
  6. 7-8
  7. 9-10
  1. Do you believe this technology will make Uber a powerful company?
  1. Yes
  2. No
  1. How many passengers do you regularly drive per day?
  1. 1-15
  2. 15-20
  3. 20-40
  4. Don’t keep count
  1. Are you happy working as an independent contractor? Why?

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

  1. Do you think autonomous vehicles will be safer? Why?

-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

  1. Are you continuously working for Uber, or it is an on-off job for you?
  1. I have continuously been driving for Uber
  2. Driving Uber is an on-off job for me

Summary of qualitative and qualitative information acquired from questionnaire:

Most drivers (80%) are motivated to come to work due to external motivational factors. Thus, they are Extrinsically motivated. The other 20% are intrinsically motivated.

40% of drivers have been driving Uber for 1-2 years. 50% of drivers have been driving Uber for 3-4 years. 10% of drivers have been driving Uber for less than 1 year.

100% of Uber drivers believe that this technology (automotive vehicles) will make Uber-powerful. However, they are discouraged that drivers are taken out of the equation, which will cause them to lose their jobs and source of income.

Drivers are paid 10-40 dollars depending on the distance and how fast they are driving. Therefore, 90% of them are happy and content with their wage.

40% of drive 15-20 passengers per day.

10% drive 1-15 passengers per day.

50% drive 20-40 passengers per day

The Majority (70%) of drivers are unhappy working as an independent contractor.

90% don’t think it will be safer because machine and robotic software related issues are inevitable.

30% of drivers have continuously been working for Uber, and 70% drive Uber irregularly.

Appendix 3

[12]Uber’s financial statement:

 

References

Shetty, S. (2020, January 28). Uber's self-driving cars are a key to its path to profitability. Retrieved October 23, 2020, from https://www.cnbc.com/2020/01/28/ubers-self-driving-cars-are-a-key-to-its-path-to-profitability.htm

Parker, B. (2020, August 30). Uber SWOT Analysis 2019: SWOT analysis of Uber. Retrieved November 16, 2020, from https://bstrategyhub.com/swot-analysis-of-uber-2019-uber-swot-analysis/

[1] IQBAL, M. (2020, October 20). Uber Revenue and Usage Statistics (2020). Retrieved October 25, 2020, from https://www.businessofapps.com/data/uber-statistics/.

Uber 2019 Annual report (p. 56, Rep.). (n.d.). Uber. Retrieved 2020, from https://s23.q4cdn.com/407969754/files/doc_financials/2019/ar/Uber-Technologies-Inc-2019-Annual-Report.pdf.


[1] Shetty, S. (2020, January 28). Uber's self-driving cars are a key to its path to profitability. Retrieved October 23, 2020, from https://www.cnbc.com/2020/01/28/ubers-self-driving-cars-are-a-key-to-its-path-to-profitability.html

[2] Appendix 1

[3] Shetty, S. (2020, January 28). Uber's self-driving cars are a key to its path to profitability. Retrieved October 23, 2020, from https://www.cnbc.com/2020/01/28/ubers-self-driving-cars-are-a-key-to-its-path-to-profitability.htm

[4] Appendix 1

[5] Appendix 2

[6] Parker, B. (2020, August 30). Uber SWOT Analysis 2019: SWOT analysis of Uber. Retrieved November 16, 2020, from https://bstrategyhub.com/swot-analysis-of-uber-2019-uber-swot-analysis/

[7] IQBAL, M. (2020, October 20). Uber Revenue and Usage Statistics (2020). Retrieved October 25, 2020, from https://www.businessofapps.com/data/uber-statistics/.

[8] Appendix 2

[9] Appendix 1

[10] Appendix 3

[11] Uber Technologies ROIC %. (2020). Retrieved November 03, 2020, from https://www.gurufocus.com/term/ROIC/UBER/ROIC/Uber Technologies Inc

[12] Uber 2019 Annual report (p. 56, Rep.). (n.d.). Uber. Retrieved 2020, from https://s23.q4cdn.com/407969754/files/doc_financials/2019/ar/Uber-Technologies-Inc-2019-Annual-Report.pdf.

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