$UBER (Uber Technologies Inc.) is my second largest position and may become the largest.
I recently rewatched a interview with Elon Musk in which he was asked why Tesla didn't buy Uber. This misunderstanding—considering Uber “just an app”—is precisely one of the reasons why I believe Uber is an incredible long-term investment (in fact, much better than Tesla). The underrated competitive advantage: Uber's network.
Uber isn't just a platform; it's a huge, globally established logistics network. They've already solved the critical “demand” problem by creating a huge user base and successfully overcoming complex regulatory obstacles in thousands of cities.
When the future of robotaxis arrives (although it has already been gradually arriving), Uber will not need to manufacture the car; it will simply be the most effective platform for connecting the supply of autonomous vehicles from any partner with the overwhelming demand from its customers.
In addition, the delivery segment has experienced explosive growth and is now a fundamental and profitable pillar of the business. This success has expanded the platform's reach beyond food to include groceries, convenience products, and retail, demonstrating an exceptional ability to develop new high-margin categories.
Uber has undergone a fundamental shift: in recent years, it has gone from losses to massive profitability. This demonstrates the power of its network scale and operational efficiency.
I would like to add a note about $TSLA (Tesla Motors, Inc.)
Tesla's future success depends on its innovations actually becoming sources of profit. If FSD, Optimus, etc, ultimately achieve massive scale and sustainable margins, the company could deliver excellent results.
However, the key point that prompted me to write this post is this: Tesla's success will not come from suddenly eliminating established leaders such as Uber. They may be excellent on their own terms, but the strength of Uber's business makes it a moat that cannot be eliminated by the creators of autonomous vehicles.
For this reason, I believe that Uber's reliable network effect and proven profitability will outweigh Tesla's volatility over the next decade.... Show More
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Mon Nov 17 2025 18:42:52 GMT+0000 (Coordinated Universal Time)
