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Uber is just a different rent seeker, though. Over time the situation will likely just keep getting worse until it is as bad as the system it is replacing (many
by c22 6y ago
Uber is just a different rent seeker, though. Over time the situation will likely just keep getting worse until it is as bad as the system it is replacing (many things about the ride-sharing ecosystem are already not great...)
While it's always nice to see a broken rent-seeking system in our world become eroded we should not laude the transfer to another fiat regency.
- portpecos 6y agoBy that statement, you can claim TaskRabbit and the like are also rent-seekers.
- c22 6y agoYes.
- isoskeles 6y agoRent-seeking means, roughly, trying to extract wealth without creating any wealth. Creating and maintaining software that connects a person with a device to a driver with a device and routes them from point A (driver) => A' (person) => B (destination) isn't some trivial nothing that you can just rent-seek into existence. I believe 'wealth' was added to the economy that did not previously exist when people had to deal with hailing cab drivers, not have a map of their route, and not know an approximation of their fare ahead of time.
- 908B64B197 6y agoAnd payment processing. Remember the sign on cabs that said they accept all major cards, only to find out the "card reader doesn't work?".
- omginternets 6y ago>Remember the sign on cabs that said they accept all major cards, only to find out the "card reader doesn't work?". Do I?! It's still commonplace! I have lost every ounce of sympathy I ever held for taxi drivers.
- PoignardAzur 6y agoEven if we accept that claim, at least Uber has to compete with other VTC apps, which limits its rent-extracting capacity.