What’s behind Uber’s $1.2 billion loss

You know what’s worse than losing a million dollars? Losing a billion dollars.

But a report today says Uber managed to lose a billion dollars in just the first half of this year.

The Bloomberg report also says Uber isn’t profitable in the U.S. this quarter, in part because of its ongoing price battles with rival Lyft.

Kai Ryssdal spoke with Marketplace’s senior tech correspondent Molly Wood to see what’s behind the loss.