Uber is a moonshot bet on re-imagining transportation when autonomous vehicles become a reality. If that reality never materializes, Uber either raises prices and sees its growth rate and valuation crash back down to earth or it goes out of business.
IBM owned everything in sight in computing, amd when PCs cam along, it improbably wound up owning them for a short while too...
Then MS took over. They owned everything in sight, but stumbled when the Internet came around, and then again in mobile. They’ve roared back, but they don’t own everything in sight.
Uber’s valuation doesn’t leave room for stumbles and settling for roaring profitability. It’s a bet that when the inflection point comes, they will own everything and keep owning everything.
It could happen, but it takes more than just autonomous vehicles becoming a reality for their valuation to become real.
Uber isn't at taxi company, since it doesn't own or operate taxis. Conceptually it's a platform for connecting independent taxi operators with customers, like Expedia or Craigslist or eBay.
Airbnb isn't a hotel company, since it doesn't own or operate hotels. Conceptually it's a platform for connecting independent hotel operators with customers, like Expedia or Craigslist or eBay.
SpaceX isn't a tech company any more than NASA is. They require science and technology but they sell rides on space ships that they own and operate.