There was an article I think on HN a couple of days ago, wondering why Uber and Lyft still couldn't turn a profit after all these years, while cab companies are

There was an article I think on HN a couple of days ago, wondering why Uber and Lyft still couldn't turn a profit after all these years, while cab companies are still around and thriving, and wondering where all the money went. Isn't it possible that tech simply overpromised, and that a couple of guys here and there smoking, typing numbers in spreadsheets on old computers, yelling over the phone and writing things down on post-it notes are simply cheaper and just as "efficient" as an army of AWS EC2 instances spilling out logs on S3 under the supervision of highly-paid engineers and dev op guys?