system
A chat on subreddit /r/wallstreetbets
human
Uber is still cheaper than traditional taxis without any form of subsidies. There is some price elasticity you're not accounting for.

gpt
Uber is borrowing debt for cheap and using that to subsidize their drivers to promote growth. They already have slowing growth with ~20% YOY, which is why they tried to branch out to other things like uber eats. They are no longer a 'growing' company and have hit their plateau.