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How is Uber anything similar to a utilities company? Those companies are rent seeking because they provide an essential service in a de-facto monopoly. Uber lit
by sushid 4y ago
How is Uber anything similar to a utilities company? Those companies are rent seeking because they provide an essential service in a de-facto monopoly. Uber literally created the demand from both sides of the marketplace while facing steep competition from incumbents. There are many things wrong with them but how can you criticize them for rent seeking? They're one of the most capitalistic companies around and their origin story is literally the opposite of rent seeking.