The startup economy is fundamentally broken and the virus will make it worse

Re:The startup economy is fundamentally broken and the virus... by ethanbond on Wednesday May 20, 2020 @06:49AM (#23245366)

Pretty simple: Not enough people are willing to pay what drivers are willing to earn (plus 5-10%), and even if they were, the next sucker VC would jump at the opportunity to fund a “competitor” who promises to lose their money faster.

There’s zero switching cost for either rider or driver.

It’s hilarious that Silicon Valley ever thought Uber was a worthwhile business, and frightening that SV thought it was an exemplar.

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Re:The startup economy is fundamentally broken and the virus... by disgruntledphd2 on Wednesday May 20, 2020 @09:02AM (#23246345)

Yeah. I worked at a large SV tech company (though not in SV), and sooooo many people left for Uber. Even at the time, I never really understood how they were going to become super-profitable.

In fact, when they reached out to me in 2017 with a really cool opportunity I declined as I couldn't understand how they were ever gonna make enough money to make the deal worthwhile.

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