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This is not a downturn though. It is a collapse.

• asdf21 6y ago
  It's more like a pause. What makes you think it's a collapse?
  • crazygringo 6y ago
    I mean, a downturn is generally considered to be down by 10%, maybe 20%. Quantitatively different, but not qualitatively different. Adjustments, but things still generally continue as planned. A collapse is dropping by close to 50% or more, like Uber's demand. It's suddenly playing an entirely different game, it becomes a qualitatively different business. If this isn't a collapse, nothing is. A "pause" would imply things will return to normal as soon as things are "unpaused". If you cut 3,000 jobs and 45 offices, those are not just magically reappearing when things are "unpaused".
    • asdf21 6y ago
      Oh, did you mean Uber and not the economy as a whole?
      • crazygringo 6y ago
        Oh, I re-read the comments and realized I completely confused the two. Never mind me, sorry! Yes, the economy as a whole has not collapsed, it is more of a pause, agreed.