Luckily for you, Uber is there – because $25 billion is about what the company has lost since that date.
Uber competitor Lyft, the mattress company Casper, and dozens of other companies are following the same strategy.
These companies generally treat both their suppliers and their workers like crap, but what is less noticed is that their “Business model” is undermining one of the basic premises of capitalism – the price system.
In addition to driving many normal taxi companies out of business, Uber-style companies have sharply increased congestion.
Normal taxi companies that have to make their accounting pencil out can’t tolerate that kind of waste, but Uber does.
The reason is that like most of their loss-making brethren, Uber is attempting to create a monopoly so they can then raise prices to their heart’s content.