5 ms·

I mean, he was pretty vindicated on Uber. Which kind of hurts me to say, I was a long time Uber bear. But it did indeed emerge from the pandemic stronger.

returnInfinity 3mo ago
yeah I was a uber bear too, some how it has turned around I was betting on the taxi drivers revolting, but the capital markets have prevailed
- nl 3mo ago
  In what country would taxi drivers revolt? I think in most countries the drivers get paid by the taxi license holders and usually can make more money and/or more have more flexible working conditions driving for Uber. See eg https://www.statista.com/chart/6971/fare-deal-taxi-drivers-earnings-compared-to-uber/ https://www.statista.com/chart/6971/fare-deal-taxi-drivers-e...
  - kleiba2 3mo ago
    > In what country would taxi drivers revolt? Germany.
    - throwawaypath 3mo ago
      Better the taxi drivers revolt in Germany than artists!
- protocolture 3mo ago
  >I was betting on the taxi drivers revolting, but the capital markets have prevailed Capital Markets found in favor of giant corporation Uber instead of giant corporation Cabcharge.
- porridgeraisin 3mo ago
  The old taxi union+licensing+bully hybrid system common in many parts of the world was far worse than the cruelest thing uber could do.
- CamperBob2 3mo ago
  No, their customers revolted. If a business based on "Get in cars with random strangers" beats you in the marketplace, your business model sucks and chances are good that you do, too. That's the taxi industry in a nutshell.
conception 3mo ago
They also spent a ton of money to get an unchangeable law passed in their favor to bypass employment regulations.
- lmm 3mo ago
  > unchangeable law WTF do you mean by this? Even constitutions can be amended, and if an odious law cannot be changed through politics then that only means it will be changed by other means.
nmfisher 3mo ago
Quick Google suggests Uber is up 66% on its IPO price, but the S&P index is up 85% over the same time period. I think Softbank also sold out around 2022, so the return (vs IPO price) would have been even lower. Didn't check for stock splits etc but I don't think Uber was a home-run for Softbank at all.
- deleted 3mo ago
  [deleted]

returnInfinity 3mo ago

yeah I was a uber bear too, some how it has turned around I was betting on the taxi drivers revolting, but the capital markets have prevailed

nl 3mo ago
In what country would taxi drivers revolt? I think in most countries the drivers get paid by the taxi license holders and usually can make more money and/or more have more flexible working conditions driving for Uber. See eg https://www.statista.com/chart/6971/fare-deal-taxi-drivers-earnings-compared-to-uber/ https://www.statista.com/chart/6971/fare-deal-taxi-drivers-e...
- kleiba2 3mo ago
  > In what country would taxi drivers revolt? Germany.
  - throwawaypath 3mo ago
    Better the taxi drivers revolt in Germany than artists!
protocolture 3mo ago
>I was betting on the taxi drivers revolting, but the capital markets have prevailed Capital Markets found in favor of giant corporation Uber instead of giant corporation Cabcharge.
porridgeraisin 3mo ago
The old taxi union+licensing+bully hybrid system common in many parts of the world was far worse than the cruelest thing uber could do.
CamperBob2 3mo ago
No, their customers revolted. If a business based on "Get in cars with random strangers" beats you in the marketplace, your business model sucks and chances are good that you do, too. That's the taxi industry in a nutshell.

conception 3mo ago

They also spent a ton of money to get an unchangeable law passed in their favor to bypass employment regulations.

lmm 3mo ago
> unchangeable law WTF do you mean by this? Even constitutions can be amended, and if an odious law cannot be changed through politics then that only means it will be changed by other means.

nmfisher 3mo ago

Quick Google suggests Uber is up 66% on its IPO price, but the S&P index is up 85% over the same time period. I think Softbank also sold out around 2022, so the return (vs IPO price) would have been even lower. Didn't check for stock splits etc but I don't think Uber was a home-run for Softbank at all.

deleted 3mo ago
[deleted]