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Signs of price truce push Lyft, Uber higher
- rectang 7y agoNow that established players like the taxi companies have been driven out and a duopoly has taken hold, the remaining behemoths can practice price collusion. To paraphrase Leona Helmsley: Marketplace competition is for the little people. The tech industry loves "free markets", not because of their theoretical benefit in fostering innovation, but because undefended marketplaces are vulnerable to network-effects hacking. Winning through great technology is hard, so what flourishes as a business model? Rent seeking.