Obviously huge milestone for you. As Guy said a million dollars in adjusted EBITDA profit. Is this something investors should
get used to. Quarter after quarter. How confident are you over. We'll continue to be profitable.
Well we're quite confident. And actually in the indications guidance we gave for investors for Q4. We got it to 25 to
seventy five million dollars into the EBITDA profitability. And I think for the foreseeable future you can expect to see a
company that is growing our top line at a very healthy rate over 20 percent as we expand into this 5 trillion dollar mobility
total addressable market as we expand into the delivery five trillion dollar total total addressable market and freight as
well while improving the profitability of the business. We're really hitting that scale point globally where we can deliver
both growth and profits for the foreseeable future. Now I know you've been working on driver supply but wait times are still
longer than usual and fares are still higher than usual. How much longer will wait times and fares be elevated.
Well we've added even just in the U.S. alone six hundred and forty thousand drivers and current year to the platform. No
drivers on the platform is up 65 percent since January. No couriers on the platform is up 80 percent since January. And the
good news is that the incidence of search pricing or about half of where they were at their peak average wait times about four
and a half minutes. So we're below that magic five minute mark. Not everywhere but on average. So the quality of the service
continues to get better. You know the problem that we have is we have too much demand as everything is opening up. Now we're
seeing travelers go to airports as well. Airport trips are up 20 percent just in the past two months. And for business travel are
up 60 percent. So there's a ton of demand out there. And we are catching up to demand half away. But the demand keeps growing
ahead of us as well. And at the same time there is a huge labor shortage. Inflation. We're heading into the holidays when
companies like Amazon are sweetening the deal for holiday workers. Lyft co-founder John Zimmer told me earlier this week
he's not interested in getting into a price war. He's focusing on differentiating differentiating the product to win these
drivers over. How big a challenge is it going to be to continue to keep drivers involved through the holidays. And what's your
strategy. So I think the great news on drivers is that driver earnings
first of all are at at pit stop legal highs. If you're a driver who is driving more than 20 hours on the platform so you're
pretty engaged driver in a top 20 market you're making including tips 40 dollars per active hour. So the earnings are very high.
And then within this world you know the Zune world of ours where we talk about flexibility and being able to work whenever you
want wherever you want etc.. That's actually what Uber offers for blue collar work call it and you can choose to move people
or you can choose to move food around as well. So we have the broadest platform than anyone else. So we think that combination
of earnings opportunities which are dynamite and flexibility whether you want to drive people or drive things puts us in a
really good position. And you can see it in the trends in terms of driver drivers on the platform being up and careers on the
platform being up. And we only see those trends improving as we get into Q4 and frankly into next year.
Dara good morning. Guy let me just talk a bit about what's happening over on my side of the pond which is London.
London's traditionally been from my perspective a pretty hot market for Uber. But competition has increased massively over
the last couple of years. Emily highlighting the profitability and the mall study that you
guys have achieved is London profitable on an adjusted basis as well. I'm curious to see what the profitability numbers look
like over here. So we don't disclose profitability by city etc. I will say that
in London we have passed the great milestone of declaring drivers as workers. That means they've got the flexibility to be
on the platform as well. But they get essentially earn a minimum wage they earn pension benefits et cetera which we think are
terrific. We're now working with the GMB to make sure that the driver worker experience is absolutely top notch. Many of our
competition have not moved forward and have not done the right thing. So they enjoy a pricing advantage you know kind of taking
advantage of drivers out there. This is the UK Supreme Court declared that drivers should be should be workers. So we have
followed suit. We think right now some of the competition has a pricing advantage but it's based on what we think. Not following
the law and we think you know the will of the Supreme Court should be recognized by anyone in the transportation industry.
We think it will happen when it happens. The UK market will be a great market for us and it'll be a great market where drivers
are using our platform in the right way which is as workers. But the big conversation right now is about supply chains and
bottlenecks. You are meeting more and more into the freight business. You've done the trans place acquisition that was what
back in July. What do you think is happening in the global supply chain story right now. What do you make of it. How
sustainable is the current situation. What needs to happen to fix it.
Well I think what needs to happen is investment going into the global supply chain. We saw an opportunity in that the supply
chain was a part of the global logistics ecosystem that was taking for granted. It was under invested in technology has
hadn't entered into the supply chain. And with Uber freight we are now using technology to connect shippers with carriers on a
direct basis. What we're seeing is that that independent truck driver is quitting from fleets and actually now joining Uber
freight as an independent contractor. That can make more money. They've got more freedom. And that independent contractor can
use the freight system to deliver for Coca-Cola to deliver for incredibly big brands because we make sure that the quality is
there. We track everything. We use technology to really revolutionize the logistics ecosystem. So we think it's a great
opportunity. Our freight business is at record highs and we think we can be part of the solution going forward. DA You've
got another big and growing business. You said the food the core restaurant and food delivery business is profitable. Lift though
saying they're seeing drivers going from delivery into food. Wondering if you're worried about delivery driver shortages and
also with your dash gobbling up more market share how do you get a bigger piece of that pie. So I think the great news for us as
far as market share was in Q3 in the US we not only increased profitability but we gained share in the marketplace. So we are
the market share gainer in the overall marketplace is in Q3 in the US and we're neutral. We essentially now offer a driver who
signs up to drive on over. You can deliver food you can move it you can drive people. And by the way you don't need to choose up
front. We'll give you both opportunities and based on how much you can make where you want to go where you want to work when
you want to work you can choose to do either. We think that's a superior solution. No one else has that solution. And we think
ultimately if you really help the customer in this case the customers the driver decide how they want to earn you will win
over the long term because you will become the preferred form. I think you're seeing that now in the growth and driver of 65
percent since January and the growth in couriers 80 percent through January. More and more choosing our platform because
it's the broadest one and it's most flexible one out there.