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each market is isolated then the network effect is small Each market isn't isolated. I think the core difference of our perspectives is that I don't think we

• danieltillett 11y ago
  Yes I agree. I view the taxi industry as being made up of many separate markets where dominating one geographical market gives a company little competitive advantage in other geographical markets and hence why the taxi industry stayed fragmented when other areas of the transport industry consolidated. If this is wrong then the first business to win the consolidation race will dominate the market long term. I don’t think Uber is in a commodity market right now (there is far too much innovation going on), I just don’t know how you prevent it becoming one in the future. Your current valuation suggests that a lot of smart money disagrees with me :)