cooper is expanding geographically as a platform, ubereats, kluber rush -- rush, so i tended to givehe benefit of the doubt. it has to grow into that loss and continue to show growth. what interested me is how murky some of the numbers are when you are looking at them. talk to us. the losses don't include stock compensation, automobile purchases. them as --ers to losses. they lost at least $1 billion in china, so we are looking at $3.8 billion, which is historic. it is hard to find a private company that has lost that much money. we are nothat, capturing the full extent of it. we try to look into the money , so if you look at that, you can see the losses don't encompass the full extent of the cash burn. uber would say they are experimenting in parallel rather than in cereal. aty are doing everything once because investors are providing them the opportunity. uber has been able to try to do it all at once. spending,2000 dot there was a layoff of workforce, so there are dangers. caroline: investors have given them this cash and they have put it to work, and one investor is jeff bezos. >

another high-profile departure at kluber. -- uber. onhel whitson resigned tuesday after almost two years at the company. she ran the company's pr team and supervised lobbying efforts with governments around the world. this is one of several departures for high-level executives at uber this year. the number of late stage venture backed companies is shrinking, but we will speak with one bucking the trend. they closed their latest round at a valuation of $2.5 billion. this is bloomberg. ♪ onoline: amazon's focus artificial intelligence is paying off. the ceo explained the benefits of ai to his shareholders in his annual letter. to company is using it enhance alexa. common --asized the commitment to -- qualtrix raised $180 million in its latest round, putting the company valuation at $2.5 billion. the number of later-staged -- a number of later-stage venture-backed companies is shrinking. it's down some 20% since december. bstartup to the function, it dictates the sentiment in the startups. joining us from salt lake city, ryan smith, here

the company has kept quiet about its exit plans, they say to go public smart before its competitor, kluberwith us is our guest host for the hour, roger mcnamee. a man who loves everything around the disruption of transportation. you are a man who has every single app out there for transportation. do you think this is a wise move by lyft to get bigger players in? roger: i make it in a much simpler fashion. i think they need more capital. full disclosure, i am, through a fund i'm invested in, indirectly an investor in lyft. my observation about the category, the category has deep economic issues. for all intents and purposes, it got commoditized before it got near breakeven. they don't own even the cars or have control over the drivers. what has been shown, at least in new york city, is that it is possible to segment and slice pieces of the market off and compete with lyft and uber by picking very narrow subset of the marketplace. caroline: explain that. roger: there is a company in new york that just goes up and down the avenues, like a jtney. it's very cheap. if you're going from 81st to b