Uber CEO balks after a reporter tells him the cost of his 2.9-mile Uber ride: 'Oh my God. Wow.'

Some of the price increases are also attributable to the fact that Uber is no longer subsidizing rides on a quest for growth and is instead focusing on profit. It seems to be working: This week, Khosrowshahi announced Uber's first operating profit.

So Ubers been doing the whole streaming service business model of start off with losses, but build a base then hike up the rates.

I took one Uber last year and had roughly the same experience as this reporter. Jacked up price to go under 10 minutes from an airport to a hotel closeby in a non busy time. I'm only using Uber as a last resort from now on.