If any one of those 5 cities decides to regulate more aggressively, it could be an immediate, material negative hit to Uber. Pareto distributions are common in

If any one of those 5 cities decides to regulate more aggressively, it could be an immediate, material negative hit to Uber. Pareto distributions are common in two-sided markets with geographic factors. BUT, when there's a reasonable possibility of extra regulation imposed at the regional level... that's a big risk.