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Uber CEO: We could be profitable–we just don’t want to be

Uber CEO: We could be profitable–we just don’t want to be
[Photo: George Grinsted/Wikimedia Commons]

CEO Dara Khosrowshahi said he’s not worried that Uber lost $4.5 billion last year and claimed the company could “turn the knobs” to be profitable if it wanted to–it just doesn’t, reports TechCrunch. Khosrowshahi made the comments at the Goldman Sachs Technology and Internet Conference in San Francisco on Wednesday where he explained that if Uber did turn those knobs to be an immediately profitable company it would “sacrifice growth and sacrifice innovation.” He also spoke optimistically about the impact self-driving cars will have on transportation costs. The CEO said today a ride currently costs about $2.50 a mile, but with a self-driving car that same ride would cost about $1 per mile.