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[Disclaimer: Uber employee] Unfortunately for your argument, if there is one thing to deduce from Uber's year of hell, it's that Uber's not going anywhere. I c
by misun78 9y ago
[Disclaimer: Uber employee]
Unfortunately for your argument, if there is one thing to deduce from Uber's year of hell, it's that Uber's not going anywhere. I could list around 50 groundbreaking events this year, each of which in itself could have taken a relatively young company like Uber down. Instead, Uber GREW 17% in ONE quarter let alone slow down - http://www.businessinsider.com/ubers-losses-grow-in-q3-but-bookings-rise-2017-12 http://www.businessinsider.com/ubers-losses-grow-in-q3-but-b...
You could attribute this growth to artificially reduced prices but that's incorrect. The price reduction comes from competition with other ride-sharing (Ola, Lyft, Grab etc) over an ever-increasing pie, not against existing taxi options. This is evident from mature markets like New York where prices are stable and yet growth is strong.
Hence, outside the realms of people wanting to protect existing taxi options + users turned off from Uber's scandals, Uber isn't too big to fail due to government or VC protections but it's simply too valuable to far too many users for it to fail. These users include:
1. For drivers that fall in the full-time category, it's significantly better than old taxi options that forced expensive medallions, fees for the privilege of working that causes them to not even break-even on days, and ultra-long shifts. It's sad to see my fellow HN'ers yearning for such a regressive and exploitative cartel-driven taxi system. For more context, read https://priceonomics.com/post/47636506327/the-tyranny-of-the-taxi-medallions https://priceonomics.com/post/47636506327/the-tyranny-of-the... before romanticizing an old system out of spite for a large tech company.
2. For part-time drivers, it provides opportunities that simply did not exist before. Earning $x dollars an hour during idle time is such a powerful force that it can alleviate macro-level recessionary pains. See https://www.timeslive.co.za/sunday-times/business/2017-12-03-inside-ubers-financial-boom-for-sa/ https://www.timeslive.co.za/sunday-times/business/2017-12-03....
3. For users, it's essentially a daily-used verb at this point.
It's unfortunate and sad that this value add is overshadowed by a never ending list of scandals but Uber is planning on owning up and creating positive change going forward. I wouldn't be there if it were not the case. Best I can do for now is help HN understand the value Uber provides and the company changes will slowly and surely fall into place.