Uber is a zero-profit proposition (coryliu.com)

The author forgets the fact that the conditions listed imply zero economic profit. That still covers the operators' opportunity costs (i.e. what they could have made switching to their next best alternative). Profits converge to zero in any industry where incumbents are not protected via government violence. Industries are born, firms are formed to capture the supra-normal profits during the initial period of adjustment.

So, yes, in the long run, Uber is a zero profit proposition ... Unless localities set and enforce new quotas on how many people can drive for a living. We have seen this movie before.