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Illustration: Lazaro Gamio / Axios

Today, profits from Uber's ride-hailing business in developed markets (N. America, Europe, Australia, New Zeland) can pay for the whole company's centralized business expenses like engineering, CEO Dara Khosrowshahi said at Goldman Sachs' tech conference in San Francisco.

Why it matters: Khosrowshahi's comments come a day after the company released its financials for 2017, which showed its business grew despite a year of turmoil. The company has also long faced questions about whether its business model is even viable.

Yes, but: The company is still raking in billions in losses. Khosrowshahi attributed them to Uber's continued spending to grow its business in developing markets around the world, such as Asia, and investing in areas like self-driving car technology.

  • "I’m pretty confident that they can turn the nobs on this to make it profitable... But we’d sacrifice growth and innovation," he added.
  • "That comes from a person who’s run a profitable business for years, so this makes me intensely uncomfortable,” he said of his tenure as CEO of Expedia.

Go deeper

22 mins ago - World

Saudi dissident claims MBS said he could get "poison ring" to kill king

Saudi Crown Prince Mohammed bin Salman attending the Saudi Green Initiative Forum, via video link, in Riyadh, Saudi Arabia on Saturday. Photo: Royal Court of Saudi Arabia/Handout/Anadolu Agency via Getty Images

A former senior Saudi intelligence official who worked with the U.S. on counterterrorism alleged to "60 Minutes" in an interview broadcast Sunday that Crown Prince Mohammed bin Salman discussed in 2014 killing the kingdom's then-monarch.

Why it matters: The allegation by the exiled Saad al-Jabri, whom Saudi authorities describe as "a discredited former government official," that the crown prince, known as "MBS," claimed he could obtain a "ring from Russia" to carry out the attack, is one of several serious allegations he made on the CBS show.

"Atmospheric river" swings Northern California from drought to flood

Satellite view of the bomb cyclone swirling off the coast of the Pacific Northwest and the atmospheric river affecting California on Oct. 24. Photo: CIRA/RAMMB

A series of powerful "atmospheric river" storms are delivering historic amounts of rainfall across parts of drought-stricken California and the Pacific Northwest — triggering widespread power outages and flooding.

Why it matters: The strong atmospheric river, packing large amounts of moisture, is causing Northern California to whiplash from drought to flood.

“You blew it”: GOP activist turns on corporations over vaccine mandates

The chairman of the American Conservative Union said on "Axios on HBO" he accepts "Joe Biden is my president, and I want him to succeed," but predicted Republicans retake the House and Senate in 2022 — with greater than 50% odds Donald Trump runs in 2024.

The big picture: In a joint interview with his wife, Mercedes, Matt Schlapp also refused to share their vaccination status. And he told corporate America "you blew it" by embracing vaccine mandates and liberal social stances that have alienated GOP voters and politicians.