Re:Uber Sinks to New Record Low as IPO Share Lockup Expires
by jamiequint on Wednesday November 06, 2019 @11:08AM
(#21463888)
That’s a pretty cynical and inaccurate way of looking at it. They did create hundreds of thousands of part-time to full-time jobs which presumably did not benefit only the 1%. They did drastically lower the price of point-to-point transportation, thereby massively expanding the market for it which presumably did not benefit only the 1%. etc
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Re:Uber Sinks to New Record Low as IPO Share Lockup Expires
by sschueller on Wednesday November 06, 2019 @11:40AM
(#21464229)
But all of that was temporary. The jobs go away when Uber falls apart and the cheap point to point transport paid for by VCs is also gone. However the taxi companies that existed are now gone as they could not compete with Uber and the ones that could compete are working for less than before.
Re:Uber Sinks to New Record Low as IPO Share Lockup Expires
by ghaff on Wednesday November 06, 2019 @11:58AM
(#21464409)
Whatever the companies/brands are, we'll still see app-dispatched taxis, at least until such time as door-to-door self-driving shows up--which IMO is going to be a very long time.
It's true that prices probably go up relative to where they are today which presumably reduces the demand and makes these services less viable in less dense locations.
Re:Uber Sinks to New Record Low as IPO Share Lockup Expires
by jamiequint on Wednesday November 06, 2019 @12:56PM
(#21465043)
The rides business is EBITDA profitable and very close to generally profitable. Uber may be valued too highly, but their core business is not going anywhere.