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That’s a decent amount of revisionism. Uber used VC money to heavily undercut the taxi rates, heavily inflate driver pay and decided to speedrun breaking as ma
by turquoisevar 3y ago
That’s a decent amount of revisionism.
Uber used VC money to heavily undercut the taxi rates, heavily inflate driver pay and decided to speedrun breaking as many laws as possible
As for getting into strangers’ cars, getting in a taxi is no different.
Do you think Uber was able to become as ubiquitous as it is if it didn’t heavily subsidize both sides of the equation and abide by the laws?
I doubt it.
Like you aptly describe now the fares as on par if not more than taxis, because now that they’ve attained dominance over the market by burning VC money, they can squeeze the customers and drivers alike.
I’m not even sure if they’re turning a profit yet.
- finite_depth 3y ago[dead]
- justinclift 3y ago> I’m not even sure if they’re turning a profit yet. Uber recorded its first ever operating profit last quarter: https://www.forbes.com/sites/qai/2023/08/02/uber-just-reported-its-first-ever-operating-profit-in-q2-earnings-report-but-lyft-warning-sends-shares-sliding/ https://www.forbes.com/sites/qai/2023/08/02/uber-just-report...
- kakwa_ 3y agoIs it legit profits? Iirc Uber had some creative accounting practices in the past offsetting loses from one quarter to another, and making a single quarter look good.
- justinclift 3y agoNo idea. I don't really keep track of Uber at all, I just happened to remember their recent announcement about it.
- deleted 3y ago[deleted]
- JumpCrisscross 3y ago> now that they’ve attained dominance over the market by burning VC money, they can squeeze the customers and drivers alike Lyft still exists. To say nothing of local upstarts, like Revel in New York.