Uber Technologies, Inc. (NYSE:UBER) is approaching a difficult valuation test: its established ride-hailing network is producing more cash, while autonomous vehicles threaten to change who controls transportation demand. On September 2, the Financial Times reported plans to eliminate 3,300 corporate jobs, or about 10% of the global workforce, as the company redirects resources toward robotaxis. Analysts at Citi estimated roughly $825 million of annual savings. That would cover only a fraction of Uber's stated commitment of more than $10 billion to autonomous-vehicle expansion, so the investment case still turns on whether the new spending protects or dilutes future returns. The Savings Buy Time, Not Immunity Uber Technologies, Inc.
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