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Uber: Losing crazy amounts of VC cash to [often illegally] compete against traditional companies that must be cashflow positive. It's not a level playing field.
by tbrownaw 10y ago
Uber: Losing crazy amounts of VC cash to [often illegally] compete against traditional companies that must be cashflow positive. It's not a level playing field. Laws exist so that drivers could make a livable wage; Uber is devaluing the medallions they've invested in.
This is two separate points. The one about dumping / running at a loss to remove competition makes sense.
But the one about taxi medallions and a "livable wage"? Yeah, that one's bullshit. Limiting supply (of anything!) to jack up prices is not a good-for-society practice.
- lsiebert 10y agoDrivers are defacto employees, integral to the business of Uber, but are treated as independent contractors, which shafts the tax burden to uber drivers.
- jellicle 10y agoSociety doesn't have an interest in assuring a predictable supply of anything?
- tbrownaw 10y agoPredictability is overrated, especially if you have a system based on adaptability (like, say, the way markets work) rather than making and following long-term plans.