On the other hand, Uber will “succeed” if investors deem it to have succeeded, which they may do for reasons having nothing to do with valuation, market share, cars, drivers, passengers, or anything else a disinterested observer might think are relevant. All those “sub-bets” paying off are one way to cover its loans, not the only way.
I’m not saying these guys are wrong; just that, y’know, it’s complicated.
EDIT: @heckblazer said it more succinctly.
