CapEx. Amazon eschewed profits, instead investing ungodly amounts in building out the infrastructure for a distribution network that no other company can compet

CapEx. Amazon eschewed profits, instead investing ungodly amounts in building out the infrastructure for a distribution network that no other company can compete with. Walmart was (and is) tooled up to distribute to its stores. Amazon tooled up to distribute to your house. That's a competitive advantage, a moat. It's defensible and 20 years later paying huge dividends. What is Uber investing in that 20 years from now will prove defensible? They're plowing cash in to subsidizing rides and investing in self-driving cars. Today, Uber has no moat. There's little friction for a driver or a rider to switch to Lyft or another app. Maybe self-driving pays off. Assuming they get the tech working, what's the business model? There is a lot that is unknown. Economic success the likes that Amazon is seeing today is if far from a foregone conclusion for Uber.