Uber Technologies Thesis

Uber is the global leader in ride-sharing and a major player in food delivery. Its moat is its two-sided network, which creates liquidity in its marketplaces (more drivers lead to lower wait times, attracting more riders, and vice versa). The growth driver is the expansion of its platform into new areas like freight and grocery, and the increasing adoption of its high-margin advertising business. The investment thesis is that Uber can leverage its global logistics network and brand to become the go-to platform for all forms of mobility and local delivery.