Quote:
Originally Posted by Crazy Dazz
On a serious note, this is what is wrong with the Corporate World as it currently works.
Uber had a great idea, they pioneered ride-sharing on a large scale, got a huge job on the competition and should have parleyed that into an immensely profitable sustainable business. But the drive is to keep growing at an explosive rate, and once markets become established the only way to do that is to expand by diversifying. Which is great if there are legitimate opportunities available. But instead they are squandering billions on crap like autonomous cars, and this BS.
And the drive to fund this from their core business means they are being undercut by their competitors.
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Here's a great recent article on them Dazz:
https://americanaffairsjournal.org/2...f-destruction/
As the article points out,
"An examination of Uber’s economics suggests that it has no hope of ever earning sustainable urban car service profits in competitive markets. Its costs are simply much higher than the market is willing to pay, as its nine years of massive losses indicate. Uber not only lacks powerful competitive advantages, but it is actually less efficient than the competitors it has been driving out of business.
Uber’s investors, however, never expected that their returns would come from superior efficiency in competitive markets. Uber pursued a “growth at all costs” strategy financed by a staggering $20 billion in investor funding. This funding subsidized fares and service levels that could not be matched by incumbents who had to cover costs out of actual passenger fares. Uber’s massive subsidies were explicitly anticompetitive—and are ultimately unsustainable—but they made the company enormously popular with passengers who enjoyed not having to pay the full cost of their service."
All that said, safe flying car services would be pretty cool. I'd like an aetheric powered UFO that can do a fast day trip to surf Fijian reefs and be back before traffic begins to get busy at about school pick-up time.