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Uber CEO Dara Khosrowshahi and moderator Megan Rose Dickeyon September 6, 2018 in San Francisco. Photo: Steve Jennings/Getty Images for TechCrunch

As Uber eyes going public next year, CEO Dara Khosrowshahi tried to dispel at TechCrunch's Disrupt conference the notion that his company's unprofitability and continued losses would be a problem.

"I think that investors are not as short term as people make them out to be... The market is willing to pay for growth."

Why it matters: A growing number of tech companies have eschewed going public (or for as long as possible) to avoid quarterly scrutiny by investors, pressure to generate profits and meet quarterly expectations.

Khosrowshahi also downplayed the San Francisco transportation agency's decision last week to give out pilot program permits to two scooter companies, over Uber and a handful of others.

  • "You do have to put things into perspective — we are a global company," he said, pointing out that Uber's largest market (on a trips count) is actually Sao Paolo. "What I’ve found is that over the long term regulators do the right thing for the people on their streets... San Francisco said no, there are 599 other cities for us to go to."
  • It remains to be decided whether Uber will appeal the city's decision, he said.

He also predicted that 10 years from now, less than 50% of Uber's trips will be done in cars, as the company continues to expand to bikes and scooters and other modes of transportation.

Go deeper

Kendall Baker, author of Sports
3 mins ago - Sports

2021 Tokyo Olympics hang in the balance

Illustration: Aïda Amer/Axios

10 months ago, the Tokyo Olympics were postponed. Now, less than six months ahead of their new start date, the dreaded word is being murmured: "canceled."

Driving the news: The Japanese government has privately concluded that the Games will have to be called off, The Times reports (subscription), citing an unnamed senior government source.

Biden's centrist words, liberal actions

Illustration: Sarah Grillo/Axios

President Biden talks like a soothing centrist. He promises to govern like a soothing centrist. But early moves show that he is keeping his promise to advance a liberal agenda.

Why it matters: Never before has a president done more by executive fiat in such a short period of time than Biden. And those specific actions, coupled with a push for a more progressive slate of regulators and advisers, look more like the Biden of the Democratic primary than the unity-and-restraint Biden of the general election.

2 hours ago - Technology

Review of Trump ban marks major turning point for Facebook

Photo Illustration: Aïda Amer/Axios. Photo: Saul Loeb/AFP via Getty Images

Facebook's decision to ask its new independent Oversight Board to review the company's indefinite suspension of former President Trump is likely to set a critical precedent for how the social media giant handles political speech from world leaders.

What they're saying: "I very much hope and can expect … that they will uphold our decision," Facebook's VP of global affairs Nick Clegg tells Axios.