So where does Uber’s value come from anyway?

At an estimated $62.5bn, Uber has the dubious distinction of being the world’s most highly valued private technology business, as well as its most heavily lossmaking. That last word seems like an oxymoron: when did a ‘loss’ become something you ‘make’? Perhaps it’s a euphemism investors console themselves with as they hand over piles of money they may never see again. Last year the company recorded losses of $2.8bn, based on net revenues of $6.5bn and is burni