Australian fund manager who runs $37 billion calls Uber a ‘ponzi scheme,’ claims it’ll be broke in a decade

Hamish Douglass, the co-founder of the Magellan Financial Group with more than $37 billion USD under management, thinks ride share service Uber has a less than 1% chance of surviving the next decade. “It’s constantly losing money and its capital-raising strategy is a ponzi scheme,” he said at the annual Stockbrokers and Financial Advisers Conference in Sydney. Douglass says Uber …