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A comment on Chicago taxi industry sliding towards collapse. Parent comment

Re:Chicago taxi industry sliding towards collapse by clock_tower on Friday June 09, 2017 @10:19PM (#14525848)
The problem is that Uber loses money on every ride, so they'll have to raise their rates as soon as they stop being subsidized by VCs -- unless they have self-driving taxis by then.
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Re:Chicago taxi industry sliding towards collapse by PacketPaul on Saturday June 10, 2017 @08:26AM (#14527087)
How are they losing money on each ride? They are not managing fleets of cars, employees, etc. It's an app.
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Re:Chicago taxi industry sliding towards collapse by xigency on Saturday June 10, 2017 @01:58PM (#14528341)
That is exactly the question you should be asking, thank you.

Answer is they provide great rates for passengers - see all of the anecdotal evidence here - and great pay for drivers.

It literally is "too good to be true."

It's just an app--with a $20B valuation and about as much in free cash.

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Re:Chicago taxi industry sliding towards collapse by weberc2 on Saturday June 10, 2017 @05:48PM (#14529366)
Or they stop investing so heavily in platform development. Without detailed knowledge of their accounts it's hard to predict what might happen when capital shrinks.
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