Have seen this elsewhere. Apparently Uber is burning through start-up investor money like crazy in deliberate hope of putting taxis out of business. At which triumphal moment I guess then they will raise their fares (which they have not hesitated to do in rush hour) up to today’s taxi rates — w/o the unnecessary expense of obeying the law of course. It’s just a very old fashioned John D. Rockefeller monopoly play.
It’s apparently a question of who can hang on. Probably rich investors — who will eat anyway.
Anyone read Thomas Picketty’s “Capital in the Twenty-First Century”?
https://www.amazon.com/Capital-Twenty-Century-Thomas-Piketty/dp/067443000X/ref=tmm_hrd_swatch_0?_encoding=UTF8&qid=&sr=
Thousands Of Cab Owners Will Go Bankrupt In Fight With Uber, Lyft: Report
https://www.dnainfo.com/chicago/20170605/west-ridge/thousands-of-cab-owners-will-go-bankrupt-fight-with-uber-lyft-report
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http://www.vanityfair.com/news/2017/04/uber-is-losing-an-insane-amount-of-money
Have seen this elsewhere. Apparently Uber is burning through start-up investor money like crazy in deliberate hope of putting taxis out of business. At which triumphal moment I guess then they will raise their fares (which they have not hesitated to do in rush hour) up to today’s taxi rates — w/o the unnecessary expense of obeying the law of course. It’s just a very old fashioned John D. Rockefeller monopoly play.
It’s apparently a question of who can hang on. Probably rich investors — who will eat anyway.