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according e.g. to the stories linked below and many previous reports, Uber actively aims to reduce the number of cars on the road, and its efforts, especially U

by rock57 10y ago

according e.g. to the stories linked below and many previous reports, Uber actively aims to reduce the number of cars on the road, and its efforts, especially Uber Pool will reduce the oil consumption and, as a result, oil prices... And now they get the largest investment yet from a party that is NOT interested in falling oil prices... What am I missing here? https://newsroom.uber.com/us-new-york/taking-1-million-cars-off-the-road-in-new-york-city/ https://newsroom.uber.com/us-new-york/taking-1-million-cars-... http://www.theguardian.com/sustainable-business/2016/may/31/uber-millennials-us-cities-cars-austin-lyft http://www.theguardian.com/sustainable-business/2016/may/31/...

linkregister 10y ago
It seems smart for a sovereign wealth fund to try to diversify its holdings. Exxon and Chevron also invest in renewables, despite the fact that renewables potentially cannibalize oil sales.
hnhire_me 10y ago
> And now they get the largest investment yet from a party that is NOT interested in falling oil prices... Uber's impact will be the same whether they invest or not. Saudia Arabia needs to diversify its holdings and sovereign funding sources as oil is a very narrow and volatile vertical upon which they currently hang their hat (and almost all of their funding). Saudia Arabia is like an investment portfolio where 90% of its income comes from a single stock. They need to diversify and hedge.
dragonwriter 10y ago
> And now they get the largest investment yet from a party that is NOT interested in falling oil prices... What am I missing here? Saudi Arabia (and even moreso prior to the 1990-1991 war, Kuwait, which was among the sources of the tensions leading to that war) invest quite heavily in diverse investments with a focus both on growth and avoiding having fortunes too closely tied to oil.
eruditely 10y ago
earlier this year the deputy crown prince declared his intent to sell 10% of saudi amarco and said he wants to diversify holdings. they're in really bad shape right now.
macspoofing 10y ago
>What am I missing here? Their impact on oil prices today, and in the foreseeable future, is inconsequential. And sure Uber says it 'actively aims to reduce the number of cars on the road' but that's just lofty marketing speak. They just want to sell you a taxi service. But Silicon Valley startups can't just sell you useful services and products, they need to change the world.

by rock57 10y ago

linkregister 10y ago

It seems smart for a sovereign wealth fund to try to diversify its holdings. Exxon and Chevron also invest in renewables, despite the fact that renewables potentially cannibalize oil sales.

hnhire_me 10y ago

> And now they get the largest investment yet from a party that is NOT interested in falling oil prices... Uber's impact will be the same whether they invest or not. Saudia Arabia needs to diversify its holdings and sovereign funding sources as oil is a very narrow and volatile vertical upon which they currently hang their hat (and almost all of their funding). Saudia Arabia is like an investment portfolio where 90% of its income comes from a single stock. They need to diversify and hedge.

dragonwriter 10y ago

> And now they get the largest investment yet from a party that is NOT interested in falling oil prices... What am I missing here? Saudi Arabia (and even moreso prior to the 1990-1991 war, Kuwait, which was among the sources of the tensions leading to that war) invest quite heavily in diverse investments with a focus both on growth and avoiding having fortunes too closely tied to oil.

eruditely 10y ago

earlier this year the deputy crown prince declared his intent to sell 10% of saudi amarco and said he wants to diversify holdings. they're in really bad shape right now.

macspoofing 10y ago

>What am I missing here? Their impact on oil prices today, and in the foreseeable future, is inconsequential. And sure Uber says it 'actively aims to reduce the number of cars on the road' but that's just lofty marketing speak. They just want to sell you a taxi service. But Silicon Valley startups can't just sell you useful services and products, they need to change the world.