Bloomberg Intelligence Uber Bookings Miss Estimates, TikTok Lawsuit, Intel Revenue
May 8, 2024
Bloomberg Intelligence analysts discuss Uber, Lyft, Reddit earnings, Apple stock decline, TikTok ban impact on Intel revenue. Reporters uncover 'Phantom Debt' risks. Insights on China-US chip sales, Apple-Google AI partnership, Shopify e-commerce integration, legal battles with Chinese app, and tech industry market share strategies.
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Ride-sharing Market Saturation
- The US ride-sharing market is close to saturation with flat new customer growth for Uber and Lyft.
- Future growth depends on increasing ride frequency or diversifying services, but competitive and regulatory pressures limit take rate expansion.
Robotaxis Threaten Ride Shares
- Tesla's planned robotaxi service poses a risk to Uber and Lyft's take rates and business model.
- However, Uber is expanding its network through partnerships to remain competitive.
Reddit Gains Traffic from AI Models
- Reddit's daily active users grew by 9 million sequentially, driven by increased traffic linked from Google's large-language model results.
- Monetization via advertising is challenging due to less sophisticated ad systems compared to larger players.