kermitjewel
Well-Known Member
Carvana laid off 2,500 employees..............
yikes
yikes
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All grunts I'm sure. I bet the CFO and top Controllers still have jobs though. 56% increase in revenue, 14% increase in cars sold results in 6x increase in losses. That's no way to run a business. Too many cars on the balance sheet? Too many lawsuits? Too much expansion? How does their banker continue to extend credit to finance operations? Their cash position doesn't come anywhere close to covering cash requirements. Sad. Bankruptcy looming...Carvana laid off 2,500 employees..............
yikes
I'm not sure about bankruptcy, they have a good model. If they can slim down operations and not overpay for vehicles, they'll make it.All grunts I'm sure. I bet the CFO and top Controllers still have jobs though. 56% increase in revenue, 14% increase in cars sold results in 6x increase in losses. That's no way to run a business. Too many cars on the balance sheet? Too many lawsuits? Too much expansion? How does their banker continue to extend credit to finance operations? Their cash position doesn't come anywhere close to covering cash requirements. Sad. Bankruptcy looming...
Uber and lyft had artificially low prices from venture capital funding. They monopolized the market taking taxi companies down. Now funding is gone and we are being shafted by inflated uber ride prices. And theres no competition.I think we can clearly see that all these "disrupters" are the ones responsible for massive inflation in cars, houses, etc. They lose money hand over fist while driving prices into the stratosphere. Carvana and Vroom in the auto industry, Zillow and Opendoor in the housing market. Now they're all shitting the bed. F*** 'em all - TO DEATH.
The person that bought my Hella from Carvana paid $11K more for it than I paid for it new 8 months earlier...I think we can clearly see that all these "disrupters" are the ones responsible for massive inflation in cars, houses, etc. They lose money hand over fist while driving prices into the stratosphere. Carvana and Vroom in the auto industry, Zillow and Opendoor in the housing market. Now they're all shitting the bed. F*** 'em all - TO DEATH.
And Carvana is providing the funding. They are basically a predatory lender dressed up as a used car dealer.The person that bought my Hella from Carvana paid $11K more for it than I paid for it new 8 months earlier...