Re:Uber stops upfront ride pricing in response to California...
by CarelessExpert on Friday January 10, 2020 @12:29PM
(#22012736)
> We're going back to taxi prices.
Yes, but not because of this law.
Uber has been subsidizing the rates with VC money for years, which is why they've never been profitable, while being able to destroy competition that does have as deep a war chest.
They'll now get to raise rates and move to profitability while using employee protection laws as air cover.
Re:Uber stops upfront ride pricing in response to California...
by mushufasa on Friday January 10, 2020 @12:44PM
(#22012880)
Uber has been profitable on a unit economics basis, they've used the VC money to expand into new markets and test new models (Uber Eats, self-driving).
Yes, but not because of this law.
Uber has been subsidizing the rates with VC money for years, which is why they've never been profitable, while being able to destroy competition that does have as deep a war chest.
They'll now get to raise rates and move to profitability while using employee protection laws as air cover.