Uber

Evidence: Mobility revenue rose 20% YoY in Q3 2025 to 7.7B on 21% Gross Bookings growth; Delivery revenue rose 29% to 4.5B, aided by a 146M YoY increase in advertising revenue. Take‑rates and dynamic pricing have improved margins without collapsing demand.

That said, rider and driver communities report sensitivity to surge and algorithmic changes, indicating pricing power is not unconstrained. Ads provides latent pricing power as inventory expands and CPCs/CPMs rise over time with better targeting; membership discounts can be tuned to optimize contribution margin by cohort.

Risks: regulatory caps, competitive responses (especially in Delivery), and insurance inflation. Net: demonstrated ability to nudge take‑rates and monetize surfaces, with upside from Ads and cross‑sell, but bounded by customer elasticity and public scrutiny.