Bingo! When money was lent at 0% interest rates (or close to it) Uber was subsidizing. Now that rates have gone up they cannot do it anymore.What's funny is this shouldn't be remotely surprising. Uber burned through cash to give those low prices while pretending it was lack of innovation that meant taxi drivers wouldn't bother transporting people across the exurbs. No they didn't do it because it would be expensive and no one would pay it. Uber just speedran that.
Not saying Uber doesn't have superior technology (to yellow cabs) but it wasn't all technology.
Statistics: Posted by srt7 — Tue Jul 23, 2024 12:58 pm — Replies 59 — Views 6014