Uber and Lyft only exist because of fiat and the free money policies of the 2010s. 

They lost money with every ride for over a decade. 

Uber just now made its first net income  in Q2 2023: 
$394M after losing $31.5B since the was founded. 

This is not profit from small operations that can be assumed to grow once they scale. They are already at scale. 

At this rate, VCs will break even in 29 years and get their expected ROI in maybe another 10….