Uber is doomed


#222

Need money ask me :slight_smile:


#223

He was probably the Uber driver using his Maserati to meet women.


#224

Thanks for all the speculations. No, I wasn’t doing it for the money and wasn’t using that as a tool to meet women either :slight_smile:


#225

Overly aggressive, you’ll be caught some day.

Maybe Silicon Valley can slow down a little bit and live like that old lady investor in Oakland, Lotus founder’s wife. When you live a slow paced life, you’ll make wiser decisions.

Freada Klein met Mitchell Kapor during her time at Lotus. In the 1990s, they began a relationship and eventually married. Although never calling for an outright ban, Kapor Klein is largely opposed to office romances and believes that harassment can often result when they are executed poorly.[4] On their decision to wait, she stated “he was smart enough as the CEO to not hit on the person who co-founded the first group on sexual harassment in the U.S. He’s very bright.”[16]

Kapor and Kapor Klein moved to the Bay Area in 1999 and live in Oakland, California, with their son and daughter.[16][22] The couple attempted to build a large home in Berkeley, California, described as “akin to an office building” by environmental groups. They managed to obtain approval but nevertheless put the lot up for sale in 2016.[23][24]


#226

Jeez. Just when you thought this couldn’t get messier for Uber:

the filing itself is more damning then the summarized article. Read through the first few pages of the filing. Uber was aware of the downloaded files since Mar 2016 (before the acquisition) and their agents were aware of and had been sitting on at least some of the downloaded files.


#227


#228

I’m curious why it appears this business scales horribly. Uber has ~4x the number of rides, but 7x the number of employees. What do the 12,000 people at Uber do? One of the whole points of the app and sharing economy is supposed to be superior scalability. If the business isn’t scalable, then it’ll never be profitable. Uber does 40M rides a month. Based on their average based pay of $147k a $200k/employee cost is very reasonable (not counting stock). That means this fixed HC costs are $5/ride. That’s insane. I’m wondering if any of the VC, execs, or finance people involved can do basic math.

AirBnB is <3,000 employees and is profitable. They’ve only spent $300M of the $3B they’ve raised. Uber lost $3B just last year.


#229

Airbnb is definitely a better business


#230

AirBnB needs far fewer employees as the people doing the actual work are not considered contractors (as in the case of Uber). all the people renting out of their place are not contractors or employees. so AirBnB is only really providing a platform, marketing, customer service. And they keep raising their take of the rent… :scream:


#231

Uber has 12,000 employees in offices. That’s not counting the drivers who are contractors not employees. They had less than 200 people in 2013.


#232

oh. You are right. I had wrongly assumed the employees was the drivers, but they have far more drivers. AirBnB is indeed more efficiently run


#233

12000 employees to… run a web site??


#234

No need to invest in LYFT or UBER!!!

Lyft investor: BABA
Uber investor: GOOG, BIDU

I own all 3 stocks!!!


#235

They don’t. The Uber/Lyft models were doomed from the start. Transportation costs don’t decline because there is a “new” business model. Cost per trip is still cost per trip.

To make money, they’d need to charge like everyone else.

However, they are/were disruptive to the taxi cartel, which has for too long ruled in metropolitan U.S. cities. I don’t know today’s rates but, a taxi medallion in NYC or San Francisco was valued at more than $1M.

Uber/Lyft and others are forcing the free market to remove the government impediments. They are also forcing public transit (where I earn my living) to reevaluate how they deploy subsidized service. This benefits all of us.

A free market would do much better.


#236

Growing sales or, in this case VC funding, covers many sins.

BTDT, All companies now out of business.


#237

True believers.


#238

#239

#240

A traditional industry gets disrupted, then starts to adapt.

Much has been said about Uber’s multiple self-inflicted wounds during a period of very rapid growth and that are now being fixed. The reporting and commentary have tended to cloud the extent to which the company’s innovative approach has transformed urban transportation. Last week, on a trip to London, I was vividly reminded of the next stage of this transformation by a traditional London taxi driver.

It is not easy to become a London cabbie. Applicants have to go through four years of training to acquire the legendary knowledge of the city’s streets, alleys, twists and turns. They are subject to licensing requirements and a host of regulations. They drive expensive black cabs, which have become icons. And, these days, they are heavily outnumbered by lightly regulated competitors who go through little training, drive their own cars and rely heavily on technology for client pickups, routes, payments and invoicing.

No wonder cabbies have been so upset with Uber, having tried several times – and failed – to stop the penetration of the ride-hailing company. Yet, judging from what I heard last week from one driver, the anger could be evolving.

After resisting everything Uber, the cabbie told me that he and his colleagues are shifting to a more constructive response – they are adapting. For example, he is part of a syndicate that now uses an app similar to Uber’s to provide riders with an expanded menu to hail and pay taxis, as well as offer them more control and transparency. The sector is a lot more willing and able to accept credit card payments. And it is all part of an effort to improve customer relations.

In a moment of frankness, he admitted that Uber has delivered a much-needed wake-up call. For him, it is no longer about stopping Uber; nor is it just about co-existence. A growing number of traditional taxis cabs are also embracing some of their rival’s best practices.

This is another illustration of the multiplicity of ways Uber has transformed, and is still transforming, the once-dominant world of black cabs, the most traditional and sophisticated market segment in global urban transportation.

The initial phases of Uber’s technology-led “disruptive innovation” proved particularly powerful because they lowered in a remarkable way the barriers of entry to both the supply of urban transportation services and the demand. Few disruptions influence both sides in such a dramatic and lasting fashion.

By allowing massively underused assets – personal vehicles otherwise sitting idle – to double as taxis, Uber significantly increased the provision of the service. And by measuring client satisfaction in a timely and high-frequency manner, it ensured that the bulk of this additional service would be clean, responsive, accountable, efficient, cost-effective and friendly.

The revolution on the demand side came from Uber’s understanding – and use – of the power of mobility, big data, and artificial intelligence. In doing so, it met the growing digitalization desires of clients (initially, mostly millennials, but increasingly encompassing a larger part of the population) eager to gain greater direct control over activities that had become ill-served, increasingly distanced and, in some cases, alienating. By also making the payments and settlement process more efficient and transparent, Uber further improved the experience for riders – leading many to substitute the service not just for other forms of public transportation, but also for private cars.

Due primarily to regulatory and legacy issues, Uber has not totally eliminated the incumbent taxis. But now these more traditional suppliers of urban transportation are forced to modernize and upgrade their services in an attempt to moderate the erosion of their diminished market share. And once again, the consumer benefits.

The Uber experience of beneficially influencing both supply and demand is still in its early stages, especially as it is sure to spread to other market segments and industries. It enhances the need for other companies, especially startups, to study not just Uber’s innovative accomplishments but also its internal failures, including the importance of culture, humility and ensuring that rapid growth is backstopped in a timely fashion by adequate structures, compliance and people. And all this will take place as a humbled Uber itself learns from past slippages and, judging from the series of recent encouraging announcements, course corrects, including through its own more timely self-disruption.

This article originally appeared on Bloomberg View.

https://www.linkedin.com/pulse/what-london-cabbie-taught-me-uber-mohamed-el-erian?trk=eml-email_feed_ecosystem_digest_01-hero-0-null&midToken=AQGJi1oRTEIk0A&fromEmail=fromEmail&ut=3JqEn6Y9Esv7Q1


#241

Speaking of porn…