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#financial projections for business plan

freeexceldownloads · 2 years

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Startup Financial Projection

Download Startup financial projection format in Excel and Spreadsheet. This business plan template for startup helps you define expected revenue, income and expenditure for your business. About Startup Financial Projection Excel Template This financial plan projections template for start up comes as a set of pro forma templates designed to help startups. The template set includes a 12-month…

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intercontact · 4 months

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IMN Business Development

IMN Business Development / CN-GB-DE-FR-RU-IT-ES-HU /

日安 * Good afternoon * Buenos días * Bonjour * Bom dia * Guten tag * Добрый день * Buon giorno * こんにちは * İyi günler * Selamat siang * नमस्ते * Goeiedag * Καλημέρα * نهارك سعيد * Sabah el fol * Dzień dobry * Bonan tagon * Selamat sore * Jó Napot *

Welcome! We're glad you're here!

First of all we would like to thank everyone for their cooperation and attention, connections from all over the world. Business relationships, projects, business proposals, investing, trade. Everything all together on these spot.

Great things are achieved through continued persistence and dedication.

Free information and advice please contact us with confidence. Business development together. Wish you best of luck!

Information: IMN Business and Investment Opportunities

#investment #projects #business #finance #marketing #sales #market #property #renewable energy #innovation #trade #financial planning #business development #business opportunity #export #business news #import #environment #economy

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snehaleenakashe-blog · 1 year

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Forte Healthcare - specialized healthcare business planner and consultancy firm in Dubai

Forte Healthcare is a specialized healthcare business planner and consultancy firm established in the UAE. With an excellent track record of our team for over 23 years of active start-up experience in diversified sectors including healthcare, real estate & property development, and hospitality.

Our verticals include financial advisory and due diligence, design and infrastructure planning, project management, legal and compliance, operations management, and due diligence.

We have commissioned our projects across GCC, Africa, MENA, UK, Europe, and SE Asia regions, which provides us with substantial experience in managing large-scale operations and teams. It is important to have a specialized healthcare business consultancy firm looking at your business plans keeping in mind the consolidations happening in the healthcare market across GCC

Our track record shows that our team has achieved the highest level of EBIDTA growth since its inception making us the healthcare business planner of choice across the GCC.

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reallytoosublime · 5 months

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In an era where technology continues to redefine our daily lives, artificial intelligence (AI) has emerged as a powerful ally in managing personal finances. This groundbreaking technology offers a myriad of tools and solutions that not only streamline financial tasks but also empower individuals to make informed decisions about their money. In this video, we're going to talk about some financial AI tools and how artificial intelligence can help you manage your personal finances.

Imagine having a virtual financial advisor at your fingertips, available 24/7 to analyze your spending patterns, assess investment opportunities, and provide tailored recommendations based on your unique financial goals. This is the promise of Financial AI tools – a comprehensive suite of applications and platforms designed to enhance every aspect of personal finance.

At the core of these tools is the ability to process vast amounts of data with speed and precision, allowing for a deep understanding of individual financial landscapes. Through machine learning algorithms, these tools can identify patterns, trends, and anomalies in your financial behavior, enabling them to offer proactive and insightful advice. This level of analysis goes beyond traditional budgeting, providing users with a dynamic and evolving financial strategy that adapts to changing circumstances.

Budgeting is often considered the cornerstone of sound financial management, and Financial AI tools excel in this domain. By tracking expenses, categorizing transactions, and identifying areas for potential savings, these tools streamline the budgeting process. Moreover, they can predict future expenses, helping users plan for upcoming financial obligations and avoid unpleasant surprises.

Investment management is another arena where Financial AI tools truly shine. From robo-advisors that construct diversified portfolios based on your risk tolerance and financial goals to predictive analytics that assess market trends, these tools leverage AI to optimize investment strategies. They provide real-time market insights, allowing users to make informed decisions and capitalize on investment opportunities while mitigating risks.

One of the key advantages of Financial AI tools is their ability to automate mundane financial tasks. From bill payments to savings transfers, these tools can execute routine transactions on your behalf, freeing up time for more strategic financial planning. Automation also contributes to financial discipline, ensuring that users adhere to their budgetary constraints and savings goals.

Personalized financial guidance is a hallmark of these AI tools. By considering your unique financial situation, future aspirations, and risk tolerance, they can offer targeted advice that aligns with your objectives. This level of personalization goes beyond one-size-fits-all financial advice, providing a tailored experience that empowers users to make decisions aligned with their individual circumstances.

Financial AI tools: How Artificial Intelligence Can Help You Manage Your Personal Finances

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youtubemarketing1234 · 5 months

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Financial AI tools: How Artificial Intelligence Can Help You Manage Your Personal Finances

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moolamore · 5 months

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A Comprehensive Guide to Cash Flow Forecasting for Businesses

Good news: you can get rid of those frown lines, hassles, and inaccuracies! In this comprehensive guide blog, we will delve into the nitty-gritty of cash flow, the importance it holds for your SME company, and introduce you to a game-changer—Moolamore—that can help you anticipate, adapt, and thrive in the ever-changing business landscape.

Best Cash Flow Forecasting Software

With Moolamore's intuitive interface and cutting-edge features, it's your crystal ball to predict, adapt, and thrive in today's ever-changing landscape. You can ensure the financial stability and success of your business by leveraging its benefits. Begin your 14-day free trial today!

#best cash flow forecasting software #cash flow forecasting #cash flow management #business finance #financial planning #cash flow analysis #cash flow projection #cash flow statement #cash flow strategy #financial forecasting

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sigmaconsultantsblog · 6 months

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Navigating the Indian Market: A Guide to Establishing a Joint Venture Company

With years of expertise in Joint Ventures and a deep understanding of the Indian business landscape, Sigma Consultants is your go-to resource. We provide comprehensive guidance and support to help you establish a successful joint venture in India.

Mob. +918127569832, +918009543832 Visit here: sigmaconsultants.net.in E-mail: [email protected] Add: B2/0616, 6th floor,DLF Mypad, Vibhuti Khand, Gomti Nagar, Lucknow, Uttar Pradesh - 226010.

#finance #investment banking #project finance #start-up funding #venture capital #business #management #advice #financial planning

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daisyjones12 · 1 year

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Starting a Salesforce consulting business requires expertise in Salesforce, a solid business plan, a legal structure, and marketing and sales strategies. It is important to have a clear understanding of the platform and how to customize it to meet clients' needs.

#Salesforce #consulting business #expertise #business plan #legal structure #marketing #sales #financial projections #target market.

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fknhost · 1 year

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Creating a Killer Business Plan: How Our Digital Media Agency Can Help You Stand Out

As a digital media agency, we understand the importance of a solid business plan. A business plan outlines your goals, strategies, and tactics to achieve success. It serves as a roadmap for your business and helps you make informed decisions. However, many businesses struggle to create an effective business plan that aligns with their vision and mission. That’s where we come in. We can help you…

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#agency #branding #business plan #competitive analysis #content creation #digital media #financial projections #market research #marketing #online presence #PPC #ROI.#SEO #social media #strategy #SWOT analysis #target audience

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freeexceldownloads · 2 years

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12 Month Financial Projection

Download this easy to use and free 12 month financial projection template in Microsoft Excel and Spreadsheet. Projections are shared with Lenders and Banks and Financial Institutions to get sanction on the loan. This template is perfect if you are looking for 12 month financial projection template for loan processing and application. Financial projections for bank loan excel template is easy to…

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cforenegade · 1 year

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CFO In Finance

Transform your business with CFO Renegade's top-notch CFO in finance services. Our highly skilled CFO brings a wealth of knowledge and experience to help you make informed financial decisions. Whether you need support with budgeting, forecasting, or strategy, we're here to help. Visit cforenegade.com to experience the power of a CFO in finance.

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forbidden-sunlight · 15 days

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yandere!ceo with villainess!reader scenario [part one]

warnings: suicide attempt/implication, implication of obsessive thoughts or love, workplace toxicity.

There might be potential triggers in this piece. If you do not feel comfortable with reading it, please hit the 'back' button on your phone or laptop and find something much more pleasant to read than a potential series of unfortunate events.

You are responsible for your Internet consumption.

Reblog to support content creators! ❤️

Hey guys, and welcome to another original yandere oc x series, featuring the good-looking prick and CEO of his family's conglomerate, Yeo Jung-Hwa. This is a collaboration between me and the incredibly talented @deathmetalunicorn1. Special thanks to @pinkgoldweebgirl and @witch-of-the-writing-desk for their honest feedback on the earlier drafts of this project.

Part Two

Everyone has heard or watched the famous daily drama, Love and Fortune. Boasting over 124 episodes, it chronicles the romance between a cold-hearted CEO named Yeo Jung-Hwa and a hardworking, kind-hearted employee at his family’s conglomerate named Hyeong Mun-Hee. Of course, no drama is without conflict because that would be a very boring story to broadcast to the world.

Including the male lead’s family opposing the idea that would marry someone beneath his social status, the villainous Park Seo-yun refuses to break off her engagement to him even when her feelings are completely one-sided. In retrospect, Park Seo-yun had been written as a vicious and incredibly stupid antagonist so that Heyong Mun-Hee’s perseverance through such bullying and her devotion towards Yeo Jung-Hwa were highlighted and touched the viewers with her kind heart. At least that is what you believe after being trapped in the world of this drama for…how long has it been? A year? Three years?

It was hard to keep track of time when Being X - that’s the name you gave to whatever is controlling this world like a goddamned puppeteer - would reset everything if you tried to act out of character such as amiably breaking up with male lead so he could be with Hyeong Mun-Hee or trying to overdose on sleeping meds in a desperate attempt to escape. Presently this was your fourth loop, and you were not going to let everything, the hard work you’ve put in, to be all for nothing.

You were going to move forward.

You were going to survive.

You were going to have a peaceful life once this drama is over.

Just say your lines and be ready for the next scene. Right?

According to the drama’s script, the reason that Park Seo-yun worked for the Yeo family’s conglomerate is because everyone thought it would be a brilliant idea for her to see how the business of her future in-laws operated and be prepared to step in if Yeo Jung-Hwa was incapacitated for any reason. In your humble opinion, it is honestly a bad idea for two reasons. One, it isn’t wise to mix business with a marriage, let alone an engagement that is written to be destroyed upon the arrival of the female lead. Two, it just doesn't make sense. Prosperous businesses are supposed to have a qualified Chief Operating Officer, otherwise known as a COO, to implement plans and the direction that the CEO wishes to follow as well as coordinating with other team managers.

But this is common sense from the real world. You are stuck in a drama and currently the team manager of the conglomerate’s financial department. You might have a nice office in the back where you can see everything, but it barely alleviated your annoyance with Hyung Mun-Hee as she hunched over her desk, texting on her personal phone instead of correcting the mistakes she made on the documents you were supposed to hand out to everyone at today’s meeting; budget allocations, projected growths and downturns, including whether Team Leader Dokja Kim will be able to hire a few more employees that he really needs to help with the IT department’s neverending workflow.

You know that this is a pivotal scene in both Heyong Mun-Hee’s character development and the beginning of your downfall. You know that after accusing the female lead of slacking off, forcing her to kneel and apologize for paralyzing your department because everyone worked overtime to cover her unexcused absences, this is when the male lead steps in and protects his darling from being bullied further.

To the writers of Love and Fortune: this example of lazy creativity is why your successful series eventually received backlash and everyone demanded a revamped version. In layman’s terms, fuck you assholes for making your job as the villainess a lot more difficult than it should be.

You already made her kneel and all that jazz in the last two loops and it didn’t do shit. Not this time. You were going to go for a more subtle, professional approach. As long as it seems like you were antagonizing Hyung Mun-Hee because Love and Fortune is written from her point of view, you should be fine. Hopefully. God, you hoped so.

If you actually got through this scene, you were definitely going to reward the team for their hard work with some baked goods for breakfast or a catered lunch. You haven’t used your infamous black credit card since this loop started. Rolling your shoulders back, you inhaled a slow, deep breath before leaning over towards the printer, grabbing the documents that the female lead emailed to you. You pretended to read them over, eyes narrowing and fingers thumbing through all of them until you reached the end. Rising from your seat, you walked out of the office and addressed the staff, calmly.

“Excuse me everyone, but may I have a moment of your time?” Your slightly agitated voice caused all seven team members to stare at you with faces that ranged from confusion, fear, and curiosity. You respectfully incline your head. “Thank you.” You held up your little prop in the air for all to see. “Whoever emailed me the paperwork I am to present at this afternoon’s meeting, please come to my office. I have some questions about the context.”

An uneasy silence fell upon the office, making your heart stink. Shit. You needed to improvise and fast before Being X noticed. You sighed, pressing two fingers to the side of your temple to make it seem like you were starting to feel a headache coming on, which funnily enough you were.

“I’m not going to bite anyone’s head off, I promise. There are just a few things in here that do not make sense and I’d like to understand before I am to present them as the team leader.” Please take the bait, Heyong Mun-Hee. You thought pleadingly with your eyes closed. If you have any self-respect left or at least feel a little sorry for being lazy, stand up and admit your mistake so that your perseverance shines through in this scene. You’ve done it before, you can do it again.

When you opened your eyes, she was still sitting at her desk with wide eyes and a flushed face, clutching her phone as if it were a lifeline. Your eyebrow twitched. You have got to be kidding me. You thought sourly. This isn’t how a female lead is supposed to act, let alone an actual employee of a multi-million won company.

Fine. If she wasn’t going to come to you willingly, then you couldn’t play nice.

You were about to call her out when she suddenly stood up and made a beeline towards your office, passing by you and taking a seat in your office. Huh? Isn’t this a bit rude? Unfortunately your role isn’t to ponder why certain people like common decency. So you turned around, walking back inside your workspace and closing the door behind you. Once you sat down behind the dark mahogany desk that was at least twice the size of a normal cubicle, you booted up your desktop and logged into the company’s bookkeeping program before swiveling the monitor around so that Hyeung Mun-Hee could see where she made her mistakes.

“Assistant Manager Hyeung Mun-Hee, I noticed that there were some miscalculations here,” You moved your cursor over one column. “And here.” You moved it to the right. “Here as well.” You moved it back to the left, right in the middle. “The formula you imputed for Columns H to J is incorrect. I want you to refer to your department manual and make the necessary corrections before sending it out to the other departments. I trust you can handle this task?”

She should be able to. After all, the female lead had a buffer for being extremely intelligent and a math whiz in the script. That’s why she was selected to work here instead of Human Resources, where her communication skills were also top notch. Hyeung Mun-Hee quickly nodded, standing up from her seat and almost bolting back to her desk, still holding onto her phone like a security blanket. Which was a little odd. You don’t remember her being so protective of it in the previous loops.

You reclined back against your chair. Oh well, no matter. Time to see this house of cards come crashing down in five minutes. Too bad it can’t be longer. But the show must go on, right? She might be scripted to fail, but you gave her a chance to correct her mistakes. So in the end, it was truly and solely all her fault, not yours.

Sure enough the phones began ringing off of the hook, followed by shouting from a few of the senior employees. You got a frantic phone call from Research/Development manager Choi Iseul, asking why the promised budget had been cut in half. Closing out the screens on your desktop, you reassured the poor girl that you would look into this matter immediately before hanging up. She really didn’t need the stress right now at four months pregnant.

You stepped out of the office, demanding what was going on. All eyes turned to the leading lady herself, her head down and face pinkened in embarrassment. You blinked. “Assistant Manager Hyeung Mun-Hee, what happened? You did fix the report as I had asked, right?” You controlled the tone of your voice, careful to not show anger and annoyance, strictly professionalism. You were pretty sure that you didn’t sound like a vindictive bitch either. But somehow she took your question as her cue to shout at you, to stop bullying her before running out towards the elevator. And right into the arms of the male lead.

You exhaled a deep breath, running a hand through [Hair Color] tresses before you turned your attention back towards the team. “I need to fix this report and send it off to the other departments or else things will get ugly. I know I’m asking a lot right now, but could you screen the incoming calls? If any of them asks, please let them know I am making the necessary corrections and will email it to them promptly. Disregard the one that they’ve received from Assistant Manager Hyeung Mun-Hee.”

Everyone clamored in agreement before diving back into their work, some already answering the phones and reciting exactly what you asked them to say as you bolted towards your office, slamming the door behind you. Considering that this isn’t your first loop, you had already taken the liberty of creating the correct report this morning before clocking in at the office. The issues were the same, so it took you all but twenty minutes to adjust and send it out to the managers.

The calamity that struck evaporated in an instant, and the phones had stopped ringing. To you, it only heralded the opening sequence of the next scenario. Looking up from your phone, you saw two people walk out of the elevator. The female lead was dabbing her puffy face with a checkered handkerchief, standing by Yeo Jung Hwa himself as he got off his own personal device, no doubt finishing his talk with the CFO about his darling’s little fuck up.

Placing your phone face down on the desk, you watched them glide across the room before the CEO reached your office, opening the door with a frown stretched across his face.

Yeo Jung Hwa. The male lead of Love and Fortune, blessed with good looks, riches, and has been in charge of the conglomerate since he was twenty years old. A classic tyrannical CEO that almost everyone loved to read or watch because they’d see how soft he was around his lover and wanted that same kind of treatment for themselves. You saw him as more of a cunning snake who knew what he wanted and would use any means necessary to get it.

But whatever. Time to get into character. You thought as you stood up, eyeing the male lead apathetically. “Good afternoon, sir. How can I help you?”

“Explain what happened.” He said, amethyst eyes narrowing at you. Yes, he has fucking purple eyes thank you goddamned screenwriters.

You raised an eyebrow. “Explain what, sir?” You asked. “The incident that has everyone in a panic?” Receiving nothing but silence from him, you continued. “It’s been resolved. I’ve already emailed all of the department heads the correct report to refer to at today’s meeting. I did tell Assistant Manager Hyeung Mun-Hee to fix the mistakes I’ve shown her,” You glanced at your employee before averting your attention back to the prick. “But when I looked at what was sent out, she did make a few adjustments…just that it only made matters worse and could have cost the company a lot of money.” You crossed your arms, leaning back against your desk. “Her performance was unacceptable, and she is my responsibility as her team leader. Which is why I would like to have Assistant Manager Hyeung Mun-Hee participate in this month’s upcoming financial seminars. A little refresher for two weeks, using her vacation days, and pass the tests so that there will not be a repeat of this incident again and jeopardize the conglomerate. Or would you see this as unfair treatment of an employee, CEO Yeo Jung-Hwa?”

You watched as the male lead looked over his shoulder, glaring balefully at his lover before he turned back to face you. “So be it. I want to see the results of her tests once they are completed and the lecturers aren’t under your payroll, Team Leader Park Seo-yun.”

“With all due respect, they are under your payroll, not mine.” You said drolly. “I don’t care how long it will take for her to complete the classes or to do the coursework. I want results, same as you. I do want to keep the completion certificates. If she doesn’t do it or chooses not to for whatever reason beyond a medical emergency, suspension with pay. No ifs, ands, or buts. Are these acceptable terms, sir?”

He didn’t like it, you could tell. Any event that separated from Hyeung Mun-Hee would put him in a sour mood and become more of a grouch. Kind of like a child having his favorite toy being taken away because he did something bad. But in this situation he couldn’t afford to have a temper tantrum for obvious reason:

1) Displaying an immature attitude in a professional environment will make him less appealing to the viewers.

2) As previously stated, it was the female lead’s fault that this whole mess happened. He saw the evidence of her major fuck up, the CFO saw it, everyone did. Trying to sweep it under the rug would only incite more rumors of nepotism. He has a reputation to maintain.

“...Fine.” He spat out. You nodded, seeing him turn on the ball of his foot and stomp out of the room. Nope, he is not happy about this. Neither is the trembling female lead standing in front of you. She really was a pretty woman, with reddish-brown hair falling past her shoulders and hazel eyes glistening with tears.

“You’re dismissed. I’ll let you know the seminar schedule once I hear back from HR. Please return to work, you still have two hours left on your shift.” You said, expecting her to go running to the restroom and cry, have a mental dialogue about how things were unfair right now but she will come out on top and preserve as it was written in the script. Except…she didn’t leave right away. She was glaring at you as if you were the most despicable person in the entire world, which you guess holds some truth.

“You said this is all my fault, but it isn’t because I wasn’t trained properly! Where do you get off, saying such horrible things like this?! Just because you are rich doesn’t mean you have a great personality!”

Your eyes widened in shock. Okay, this scene was definitely not part of the drama in the last three loops. And she’s smart enough to know to not say this, even if the door is closed!

Let’s be serious. No one should ever talk to a supervisor like this, even if they are an absolute scumbag and you hate their guts.

“Assistant Manager Hyeung Mun-Hee, you were trained to learn and carry out these tasks during the ninety day trial period after being hired by the conglomerate,” You said as you tried to calm your racing heart. “I showed you the mistakes you made, and it’s clear that you made almost no effort to fix them. If you had, then this incident would not have happened. That is why you are going to sit through those seminars and take notes, or you will be suspended without pay. This is not up for debate. And just because I am rich doesn’t mean you can talk down to people as if you are better than them, myself included. Now leave. And don’t let me hear such vulgar words in here again or I will punish you. Are we clear?”

“You-“

“Are you going to make me pull up your file and show everyone your certificates of completion from those training programs, the proof that you were trained to do your job and you’ve chosen to let others do your work for you?” You asked. “It’s fine to ask for help from others when needed, but you have to take responsibility for your actions or else you’ll never be able to surpass me.”

You watched Hyeung Mun-Hee’s face turn a darker shade of magenta and the tremors in her petite frame increase greatly before she excused herself. You could see the steam coming out of her ears; whether it was from embarrassment or anger, you weren’t certain. So long as she got your message and you acted your part as the villainess, then that should have met almost all of the requirements needed to move onto the next episode. The remaining factors were the viewership score and Being X’s approval.

The viewership score is a daily simple rating system numbered from 1 to 5 golden stars. If the episode reaches 3 and above, you’re clear. If the score is a 2, and Being X did not like your acting or even how everything played out, the loop would start all over again from the first scene. Perhaps instead of puppeteer, it’s more like a perfectionist director whose opinion can also be swayed by the viewership score. If the audience watching this fucked up universe enjoyed what they were watching, they’ll make it known.

After all, more ratings means more money, even if you’re not getting paid for this.

The last two loops where this episode happened, you followed the script to the letter without making any improvs. It didn't work out in the end, as you recalled with a frown at the memory. After being forced to kneel on the floor as you had done to her, you watched the lovebirds embrace. Well, at least the male lead was trying to comfort his ‘pure-hearted’ lover when that bitch smiled down at you from over his shoulder. As if she had won the game and you were the loser. Being X didn’t like the viewership scores back then. Now? Well, that’ll depend on whether or not you’ll wake up to the setting of episode 25 tomorrow morning. It’s either that…or finding yourself in the interview room again with Hyeung Mun-Hee during the pilot episode, her job application in your hand.

Fuck my life. You thought glumly.

Congratulations, Congratulations, Congratulations!

Important things must be said three times.

The viewership score on Episode 24 has arrived!

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#forbidden-sunlight #yandere x reader #yandere male #yandere #yandere oc #yandere oc x reader #yandere!ceo #fem!reader #villainess!reader #ns.fw #yandere manhwa x reader #x reader #tw sui attempt #tw sui implied #tw work toxicity #cw sui attempt #cw work toxicity

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don-lichterman · 2 years

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IBM Earnings Beat Estimates. The CEO Says Tech Demand Remains Strong.

IBM has restructured to focus on software and services tied to hybrid cloud computing and artificial intelligence. David Paul Morris/Bloomberg Text size IBM kicked off tech earnings season with better-than-expected quarterly results, despite headwinds from the strong dollar. For the second quarter, IBM (ticker: IBM) posted revenue of $15.5 billion, up 9% from a year ago, or 16% adjusted for…

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cartierrings · 2 years

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These 4 Mid-Year Tax Strategies Can Cut Next Year's Bill from the IRS

These 4 Mid-Year Tax Strategies Can Cut Next Year’s Bill from the IRS

seksan Mongkhonkhamsao | moment | Getty Images 1. Review your tax withholdings When starting a new job, fill out Form W-4which covers what your employer takes from your federal tax paycheck. But you need to review those withheld, especially for big life changes like getting married, having children, or starting a side business. Main reasons for changing the withholding tax: 1. Changes to tax…

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mostlysignssomeportents · 9 months

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No, Uber's (still) not profitable

Going to Defcon this weekend? I'm giving a keynote, "An Audacious Plan to Halt the Internet's Enshittification and Throw it Into Reverse," on Saturday at 12:30pm, followed by a book signing at the No Starch Press booth at 2:30pm!

https://info.defcon.org/event/?id=50826

Bezzle (n): 1. "the magic interval when a confidence trickster knows he has the money he has appropriated but the victim does not yet understand that he has lost it" (JK Gabraith) 2. Uber.

Uber was, is, and always will be a bezzle. There are just intrinsic limitations to the profits available to operating a taxi fleet, even if you can misclassify your employees as contractors and steal their wages, even as you force them to bear the cost of buying and maintaining your taxis.

The magic of early Uber – when taxi rides were incredibly cheap, and there were always cars available, and drivers made generous livings behind the wheel – wasn't magic at all. It was just predatory pricing.

Uber lost $0.41 on every dollar they brought in, lighting $33b of its investors' cash on fire. Most of that money came from the Saudi royals, funneled through Softbank, who brought you such bezzles as WeWork – a boring real-estate company masquerading as a high-growth tech company, just as Uber was a boring taxi company masquerading as a tech company.

Predatory pricing used to be illegal, but Chicago School economists convinced judges to stop enforcing the law on the grounds that predatory pricing was impossible because no rational actor would choose to lose money. They (willfully) ignored the obvious possibility that a VC fund could invest in a money-losing business and use predatory pricing to convince retail investors that a pile of shit of sufficient size must have a pony under it somewhere.

This venture predation let investors – like Prince Bone Saw – cash out to suckers, leaving behind a money-losing business that had to invent ever-sweatier accounting tricks and implausible narratives to keep the suckers on the line while they blew town. A bezzle, in other words:

https://pluralistic.net/2023/05/19/fake-it-till-you-make-it/#millennial-lifestyle-subsidy

Uber is a true bezzle innovator, coming up with all kinds of fairy tales and sci-fi gimmicks to explain how they would convert their money-loser into a profitable business. They spent $2.5b on self-driving cars, producing a vehicle whose mean distance between fatal crashes was half a mile. Then they paid another company $400 million to take this self-licking ice-cream cone off their hands:

https://pluralistic.net/2022/10/09/herbies-revenge/#100-billion-here-100-billion-there-pretty-soon-youre-talking-real-money

Amazingly, self-driving cars were among the more plausible of Uber's plans. They pissed away hundreds of millions on California's Proposition 22 to institutionalize worker misclassification, only to have the rule struck down because they couldn't be bothered to draft it properly. Then they did it again in Massachusetts:

https://pluralistic.net/2022/06/15/simple-as-abc/#a-big-ask

Remember when Uber was going to plug the holes in its balance sheet with flying cars? Flying cars! Maybe they were just trying to soften us up for their IPO, where they advised investors that the only way they'd ever be profitable is if they could replace every train, bus and tram ride in the world:

https://48hills.org/2019/05/ubers-plans-include-attacking-public-transit/

Honestly, the only way that seems remotely plausible is when it's put next to flying cars for comparison. I guess we can be grateful that they never promised us jetpacks, or, you know, teleportation. Just imagine the market opportunity they could have ascribed to astral projection!

Narrative capitalism has its limits. Once Uber went public, it had to produce financial disclosures that showed the line going up, lest the bezzle come to an end. These balance-sheet tricks were as varied as they were transparent, but the financial press kept falling for them, serving as dutiful stenographers for a string of triumphant press-releases announcing Uber's long-delayed entry into the league of companies that don't lose more money every single day.

One person Uber has never fooled is Hubert Horan, a transportation analyst with decades of experience who's had Uber's number since the very start, and who has done yeoman service puncturing every one of these financial "disclosures," methodically sifting through the pile of shit to prove that there is no pony hiding in it.

In 2021, Horan showed how Uber had burned through nearly all of its cash reserves, signaling an end to its subsidy for drivers and rides, which would also inevitably end the bezzle:

https://pluralistic.net/2021/08/10/unter/#bezzle-no-more

In mid, 2022, Horan showed how the "profit" Uber trumpeted came from selling off failed companies it had acquired to other dying rideshare companies, which paid in their own grossly inflated stock:

https://pluralistic.net/2022/08/05/a-lousy-taxi/#a-giant-asterisk

At the end of 2022, Horan showed how Uber invented a made-up, nonstandard metric, called "EBITDA profitability," which allowed them to lose billions and still declare themselves to be profitable, a lie that would have been obvious if they'd reported their earnings using Generally Accepted Accounting Principles (GAAP):

https://pluralistic.net/2022/02/11/bezzlers-gonna-bezzle/#gryft

Like clockwork, Uber has just announced – once again – that it is profitable, and once again, the press has credulously repeated the claim. So once again, Horan has published one of his magisterial debunkings on Naked Capitalism:

https://www.nakedcapitalism.com/2023/08/hubert-horan-can-uber-ever-deliver-part-thirty-three-uber-isnt-really-profitable-yet-but-is-getting-closer-the-antitrust-case-against-uber.html

Uber's $394m gains this quarter come from paper gains to untradable shares in its loss-making rivals – Didi, Grab, Aurora – who swapped stock with Uber in exchange for Uber's own loss-making overseas divisions. Yes, it's that stupid: Uber holds shares in dying companies that no one wants to buy. It declared those shares to have gained value, and on that basis, reported a profit.

Truly, any big number multiplied by an imaginary number can be turned into an even bigger number.

Now, Uber also reported "margin improvements" – that is, it says that it loses less on every journey. But it didn't explain how it made those improvements. But we know how the company did it: they made rides more expensive and cut the pay to their drivers. A 2.9m ride in Manhattan is now $50 – if you get a bargain! The base price is more like $70:

https://www.wired.com/story/uber-ceo-will-always-say-his-company-sucks/

The number of Uber drivers on the road has a direct relationship to the pay Uber offers those drivers. But that pay has been steeply declining, and with it, the availability of Ubers. A couple weeks ago, I found myself at the Burbank train station unable to get an Uber at all, with the app timing out repeatedly and announcing "no drivers available."

Normally, you can get a yellow taxi at the station, but years of Uber's predatory pricing has caused a drawdown of the local taxi-fleet, so there were no taxis available at the cab-rank or by dispatch. It took me an hour to get a cab home. Uber's bezzle destroyed local taxis and local transit – and replaced them with worse taxis that cost more.

Uber won't say why its margins are improving, but it can't be coming from scale. Before the pandemic, Uber had far more rides, and worse margins. Uber has diseconomies of scale: when you lose money on every ride, adding more rides increases your losses, not your profits.

Meanwhile, Lyft – Uber's also-ran competitor – saw its margins worsen over the same period. Lyft has always been worse at lying about it finances than Uber, but it is in essentially the exact same business (right down to the drivers and cars – many drivers have both apps on their phones). So Lyft's financials offer a good peek at Uber's true earnings picture.

Lyft is actually slightly better off than Uber overall. It spent less money on expensive props for its long con – flying cars, robotaxis, scooters, overseas clones – and abandoned them before Uber did. Lyft also fired 24% of its staff at the end of 2022, which should have improved its margins by cutting its costs.

Uber pays its drivers less. Like Lyft, Uber practices algorithmic wage discrimination, Veena Dubal's term describing the illegal practice of offering workers different payouts for the same work. Uber's algorithm seeks out "pickers" who are choosy about which rides they take, and converts them to "ants" (who take every ride offered) by paying them more for the same job, until they drop all their other gigs, whereupon the algorithm cuts their pay back to the rates paid to ants:

https://pluralistic.net/2023/04/12/algorithmic-wage-discrimination/#fishers-of-men

All told, wage theft and wage cuts by Uber transferred $1b/quarter from labor to Uber's shareholders. Historically, Uber linked fares to driver pay – think of surge pricing, where Uber charged riders more for peak times and passed some of that premium onto drivers. But now Uber trumpets a custom pricing algorithm that is the inverse of its driver payment system, calculating riders' willingness to pay and repricing every ride based on how desperate they think you are.

This pricing is a per se antitrust violation of Section 2 of the Sherman Act, America's original antitrust law. That's important because Sherman 2 is one of the few antitrust laws that we never stopped enforcing, unlike the laws banning predator pricing:

https://ilr.law.uiowa.edu/sites/ilr.law.uiowa.edu/files/2023-02/Woodcock.pdf

Uber claims an 11% margin improvement. 6-7% of that comes from algorithmic price discrimination and service cutbacks, letting it take 29% of every dollar the driver earns (up from 22%). Uber CEO Dara Khosrowshahi himself says that this is as high as the take can get – over 30%, and drivers will delete the app.

Uber's food delivery service – a baling wire-and-spit Frankenstein's monster of several food apps it bought and glued together – is a loser even by the standards of the sector, which is unprofitable as a whole and experiencing an unbroken slide of declining demand.

Put it all together and you get a picture of the kind of taxi company Uber really is: one that charges more than traditional cabs, pays drivers less, and has fewer cars on the road at times of peak demand, especially in the neighborhoods that traditional taxis had always underserved. In other words, Uber has broken every one of its promises.

We replaced the "evil taxi cartel" with an "evil taxi monopolist." And it's still losing money.

Even if Lyft goes under – as seems inevitable – Uber can't attain real profitability by scooping up its passengers and drivers. When you're losing money on every ride, you just can't make it up in volume.

Image: JERRYE AND ROY KLOTZ MD (modified) https://commons.wikimedia.org/wiki/File:LA_BREA_TAR_PITS,_LOS_ANGELES.jpg

CC BY-SA 3.0 https://creativecommons.org/licenses/by-sa/3.0/deed.en

I’m kickstarting the audiobook for “The Internet Con: How To Seize the Means of Computation,” a Big Tech disassembly manual to disenshittify the web and bring back the old, good internet. It’s a DRM-free book, which means Audible won’t carry it, so this crowdfunder is essential. Back now to get the audio, Verso hardcover and ebook:

http://seizethemeansofcomputation.org

If you'd like an essay-formatted version of this post to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

https://pluralistic.net/2023/08/09/accounting-gimmicks/#unter

Image: JERRYE AND ROY KLOTZ MD (modified) https://commons.wikimedia.org/wiki/File:LA_BREA_TAR_PITS,_LOS_ANGELES.jpg

CC BY-SA 3.0 https://creativecommons.org/licenses/by-sa/3.0/deed.en

#pluralistic #bezzles #hubert horan #uber #rideshare #accounting tricks #financial engineering #late-stage capitalism #narrative capitalism #lyft #transit #uber eats #venture predation #algorithmic wage discrimination

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