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Maybe. If Uber and Lyft both ride their excellent technologies down to penny-stock share prices, because even good technology just barely keeps companies in bu
by human20190310 7y ago
Maybe. If Uber and Lyft both ride their excellent technologies down to penny-stock share prices, because even good technology just barely keeps companies in business, then anyone who expected to profit from their success might be disappointed.
- freyr 7y agoAllow me to present the world’s smallest violin. We’ve forgotten what “good technology” means.
- human20190310 7y agoUber and Lyft both work pretty well from the customer's perspective.
- mamon 7y agoBut they work pretty bad from their shareholders perspective since they generate loss on every ride. Even if they avoid all the legal landmines, they still might have to shut down for the simple reason of running out of money (and shareholders running out of patience).
- drstewart 7y agoWhat does that have to do with "good technology" though?
- ardy42 7y ago> they still might have to shut down for the simple reason of running out of money (and shareholders running out of patience). My prediction is that Uber and Lyft will either themselves morph into something more like traditional cab companies, or their technology will be bought out of bankruptcy to build something similar. The world will run out of suckers who want to lose money subsidizing their rides and suckers who are willing to wear out their vehicles to drive for them.
- bsder 7y agoWhile I'm certainly no ridesharing apologist, Uber/Lyft have raised the bar significantly in terms of forcing drivers to do basic things that cabs simply failed to do in most places: 1) Actually freakin' show up. 2) Not take the lifetime of the universe showing up 3) Accept credit cards 4) Clean their car occasionally I can go on ... If Uber/Lyft completely flame out, I would not like to see these things go back to the way they used to be.
- freyr 7y agoThey're use products, I just wouldn't call them "technology." The technology is everything that enables these apps (GPS, mobile chipsets, cellular technology, mobile OS, etc.).
- nonbel 7y agoAFAIK, Netflix isn't "profitable" either. As long as people keep giving them loans they are fine.
- throwaway2048 7y agoThere is a limited supply of stupid people with billions of dollars to throw away.
- nonbel 7y agoWe have no idea how many dollars are out there. There are rumors of multiple ~$20 trillions "gone missing" or "passed out".
- shwouchk 7y agoWhat exactly are you talking about? https://fred.stlouisfed.org/series/MABMM301USM189S https://fred.stlouisfed.org/series/MABMM301USM189S
- nonbel 7y agohttp://www.forbes.com/sites/traceygreenstein/2011/09/20/the-feds-16-trillion-bailouts-under-reported/#551f0f6d6877 http://www.forbes.com/sites/traceygreenstein/2011/09/20/the-... https://www.forbes.com/sites/kotlikoff/2017/12/08/has-our-government-spent-21-trillion-of-our-money-without-telling-us/ https://www.forbes.com/sites/kotlikoff/2017/12/08/has-our-go...