Not too long ago, new, improved Uber CEO Dara Khosrowshahi bemoaned his company’s massive hemorrhaging of cash and vowed to “get the love back” and restore Uber as a beloved brand. As an Uber/Lyft driver, all I can say is good f—ing luck with that. Here’s a news flash: Uber is bound to fail. And so is Lyft, Uber’s little sibling with better PR. The sooner we all understand this, the better.
Uber calls itself a “technology” company instead of a taxi company. This is because unlike a traditional cab company, for which you use your phone to call for a cab, you use your phone to call for a cab. See? The difference is obvious. Uber/Lyft’s business model is to lose money for years or decades to grow its market and then, suddenly, replace all its human drivers with robots. And then we’ll all be rich, because volume. How’s that working for you, fellas? Oh, Uber has lost more money than any start-up in human history? What? How can this be?! Uber makes so much money! Look at all the Uber/Lyft cars clogging our streets! We use it so much! How could it not be profitable?
via The Bold Italic Why Uber Is Just Another Taxi Company Doomed to Bankruptcy