Uber and Lyft, despite being major players in the tech industry, have been known to burn through a lot of cash due to their strategy of spending on driver subsidies and promotional discounts for riders. This has been particularly true for Uber, which has reportedly spent over $11 billion since its founding. However, Uber announced for the first time in its history that it will be cash-flow positive for the full 2022. While it's common for tech companies to operate at a loss for extended periods, Uber did so for longer than others. The comparison with other tech companies would depend on specific companies in question, but it's safe to say that Uber and Lyft's cash reserve situation is influenced by their market strategy.
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