Re:Silicon Valley’s business model is a scam
by sangnoir on Tuesday July 18, 2023 @12:34PM
(#36775245)
> Uber/Lyft did outcompete taxis on merit, and to suggest otherwise is revisionist history!
You're right about downsides of cabs, but I'm afraid you are also revising history on the issue of merit.
For a long time, Uber (and Lyft) rides cost a lot more than clients were paying - many people noticed this and wrote about it, and the edgier ones characterized ride-sharing as a wealth transfer from VCs to riders.
The setup was clearly not "competing on merit" and was closer to predatory pricing. It's obvious the investors would have demanded massive hikes had they managed to drive competitors out of business.
You're right about downsides of cabs, but I'm afraid you are also revising history on the issue of merit.
For a long time, Uber (and Lyft) rides cost a lot more than clients were paying - many people noticed this and wrote about it, and the edgier ones characterized ride-sharing as a wealth transfer from VCs to riders.
The setup was clearly not "competing on merit" and was closer to predatory pricing. It's obvious the investors would have demanded massive hikes had they managed to drive competitors out of business.