> Uber losses were $12B over 5 years.

Uber burned through roughly $32 billion in cumulative losses before reaching sustained profitability.

The rough timeline:

- Founded 2009, and lost money every year for about 14 years

- Biggest single-year losses: ~$8.5 billion in 2019 (the IPO year) and ~$9.1 billion in 2022

- 2023 was its first full year of net profitability, earning about $1.9 billion

- Uber has a market cap of $153bn as of today (at a P/E of 16.5)

OpenAI has received substantially more funding than Uber, so its losses will be substantially higher (spending investor money shows up as a loss on your P&L), but again that doesn't mean anything in and of itself.