Investor Gary Black of The Future Fund LLC has backed ride-hailing giant Uber Technologies Inc. (NYSE:UBER) as his pick to lead the autonomous ride-hailing market ahead of the likes of Alphabet Inc.‘s (NASDAQ:GOOGL) (NASDAQ:GOOG) Waymo and Elon Musk‘s Tesla Inc. (NASDAQ:TSLA).
Gary Black Says Uber Is Not Like Blockbuster
In a post on X, Black responded to user @PME2717 who said that being bullish on Uber was not a smart move as the company was like the video rental company Blockbuster Inc. in a world of streaming platforms like Netflix Inc. (NASDAQ:NFLX).
“When I think of who has the best chances of offering fully autonomous ride hailing to the masses,” Black said, “it’s clearly Uber,” the investor said. He added that his bullish stance on Uber stemmed from the company’s “open source supplier model.” He added that Blockbuster did not adapt to the advent of streaming.
Uber’s Earnings
Uber held its second-quarter 2026 earnings call on Wednesday, reporting revenue of $14.19 billion for the quarter, which was up 12% YoY. However, the revenue figure was still slightly below analyst estimates of $14.24 billion. Uber matched the analyst consensus of EPS earnings of 81 cents per share.
Uber’s GAAP income from operations increased 30% to $1.89 billion amid Uber’s recent acquisition of German food delivery platform Delivery Hero SE in a deal worth more than $14 billion.
CEO Dara Khosrowshahi touted Uber’s 15-minute drone delivery as a “magical experience” during the company’s earnings call. Khosrowshahi also said that Uber was on track to begin autonomous ride-hailing operations in 15 cities by the end of the year.
For Rivian Automotive Inc. (NASDAQ:RIVN) Robotaxis, “we expect to be in perhaps San Francisco and Miami in 2028,” Khosrowshahi said, adding that Nvidia Corp. (NASDAQ:NVDA) backed Robotaxis would debut in Los Angeles and San Francisco next year and “28 different cities globally by 2028.”
Price Action: Uber stock was up 0.69% to $68.64 during pre-market trading on Thursday.
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