'Uber Is Cooked,' Says Ross Gerber As Waymo Hits 450K Weekly Rides — Touts $200 Million Annual Revenue For Tesla Rival - Uber Technologies (NYSE:UBER)

Investor Ross Gerber, co-founder of investment firm Gerber Kawasaki, thinks Alphabet Inc.'s (NASDAQ:GOOGL) (NASDAQ:GOOG) autonomous cab service Waymo's growth is a challenge for Uber Technologies Inc. (NYSE:UBER).

‘Uber Is Cooked,' Says Ross Gerber

The investor took to the social media platform X on Tuesday, sharing his thoughts on Waymo's reported 450,000 weekly rides milestone. "More rides being done at Waymo. 450k rides a week now," Gerber said in the post.

He added that the average ride revenue for Waymo was approximately $10 for a fleet of 2,500 cars, which would translate to a "$200-$250 a day average" per car, Gerber said. "Now doing over $200 mil a year in revenue and growing fast. Uber is cooked," Gerber outlined in the post.

This isn't the first time Gerber has claimed that Uber would face difficulties, as he had earlier said the same thing, claiming that Waymo’s expansion into San Francisco has resulted in a 10% market share for the company in the region from the Waymo app by itself.

On the other hand, Uber CEO Dara Khosrowshahi said that he sees a hybrid future with a mix of human drivers and autonomous taxis for the company’s platform.

Elon Musk Touts Driverless Robotaxis

Meanwhile, Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk had earlier claimed the Robotaxi operations in Austin would go driverless by the end of the year. Tesla's Full Self-Driving (FSD) technology, a crucial aspect of the Robotaxi operations, is also targeting an expansion into Europe next year.

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Price Action: GOOGL surged 1.07% to $317.08 at Market close, but declined 0.24% during After-hours to $316.32, according to Benzinga Pro data.

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