3 ms·
Pretty simple: Not enough people are willing to pay what drivers are willing to earn (plus 5-10%), and even if they were, the next sucker VC would jump at the o
by ethanbond 6y ago
Pretty simple: Not enough people are willing to pay what drivers are willing to earn (plus 5-10%), and even if they were, the next sucker VC would jump at the opportunity to fund a “competitor” who promises to lose their money faster.
There’s zero switching cost for either rider or driver.
It’s hilarious that Silicon Valley ever thought Uber was a worthwhile business, and frightening that SV thought it was an exemplar.
- disgruntledphd2 6y agoYeah. I worked at a large SV tech company (though not in SV), and sooooo many people left for Uber. Even at the time, I never really understood how they were going to become super-profitable. In fact, when they reached out to me in 2017 with a really cool opportunity I declined as I couldn't understand how they were ever gonna make enough money to make the deal worthwhile.