In the UK Uber has to compete under the same regulatory framework as all other pre-booked cars for hire. Their prices are perhaps marginally lower than the exis

In the UK Uber has to compete under the same regulatory framework as all other pre-booked cars for hire. Their prices are perhaps marginally lower than the existing car services (of which there are many), and their convenience (when they're actually available) is considerably higher. So, at least here, it's pretty obvious to me that they do have a viable business model. There's thousands of hire-car drivers and mini-cab companies already making profit in the space. All Uber is doing is making the process of getting a hire car to pick you up significantly more convenient.