{"type":"rich","version":"1.0","title":"The Real Reason Uber Abandoned China","description":"Uber called it quits in China earlier this month, selling its operations there to local rival Didi Chuxing rather than continue heavy spending to sustain a price war. \"Uber and Didi Chuxing are investing billions of dollars in China and both companies have yet to turn a profit there,\" lamanted Uber CEO Travis Kalanick at the time.\n\nNow, a report from Bloomberg sheds light on the financial reality that led to Kalanick's unexpected decision.","author_name":"TIME's Top Stories","author_url":"https://audioboom.com/channels/3380207-time-s-top-stories","provider_name":"Audioboom","provider_url":"https://audioboom.com","width":480,"height":95,"thumbnail_url":"https://audioboom.com/i/23928107/600x600/c","thumbnail_width":600,"thumbnail_height":600,"html":""}