4 ms·

Yes, exactly, and yet how did they command such a high valuation?

• nathan-io 7y ago
  That's an entirely different conversation... I do think Uber in particular was great at creating hype and glossing over the fact that their pricing/model isn't sustainable without the substantial rider/driver subsidies and worker exploitation that let them consistently undercut traditional taxi pricing. What I meant is that any poor market performance for Uber/Lyft could simply be a function of investors waking up to the aforementioned realities, it doesn't necessarily indicate the bursting of some broader bubble. Furthermore, I don't even view Uber/Lyft as "tech" companies. Sure, they make software, but they're not in the software business.