At the end of 2022, Horan showed how Uber invented a made-up, nonstandard metric, called "#EBITDAProfitability," which allowed them to lose *billions* and still declare themselves to be profitable, a lie that would have been obvious if they'd reported their earnings using #GenerallyAcceptedAccountingPrinciples (#GAAP):
https://pluralistic.net/2022/02/11/bezzlers-gonna-bezzle/#gryft
Like clockwork, Uber just announced - again - that it is profitable, and once again, the press has credulously repeated the claim.
12/
#ebitdaprofitability #generallyacceptedaccountingprinciples #gaap