Metromile CEO interview, Oscar Health’s IPO plans, our 2-year anniversary, more – TechCrunch

by Jeremy

I’m very proud of the work we’re doing here at Extra Crunch, so it gives me great pleasure to announce that today is our second anniversary. Thanks to hard work from the entire TechCrunch team, authoritative guest contributors, and a very engaged reader base, we’ve tripled our membership in the last 12 months. As Extra Crunch enters its third year, we’re putting our foot on the gas in 2021, so we can bring you more.

Extra Crunch turns two second anniversary image: a cake with two candles and the EC logo

To be completely honest: Eric and I wavered about posting this announcement. Both of us would prefer to show the results of our work then make a list of future-looking statements, so I’ll sum up: I’m proud of the work we’re doing because people around the world use the information they find on Extra Crunch to build and grow companies. That’s big!

Thanks very much for reading Extra Crunch; have a great weekend.

Walter Thompson
Senior Editor, TechCrunch

Will ride-hailing profits ever come?

Before the pandemic began, I took about seven or eight hailed rides each month. Since I started physically distancing from others to stem the spread of the coronavirus in March 2020, I’ve taken precisely ten ordered rides. Your mileage may vary, but Uber and Lyft reported steep revenue losses last year as travelers hunkered down at home. Today, Alex Wilhelm says both transportation platforms plan to reach adjusted profitability by Q4 2021. He unpacked the numbers “to see if what the two companies are dangling in front of investors is worth desiring.” Since he usually doesn’t focus on publicly traded stocks, I asked Alex why he focused on Uber and Lyft today.

Utter confusion,” he replied.

Investors have bid up their stocks like the two companies are crushing the game, instead of playing a game with their numbers to reach some profit in the future,” Alex explained. “The stock market makes no sense, but this is one of the weirder things.

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