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It is Time to Say that Uber Has No Clothes December 21, 2017

Posted by Peter Varhol in Uncategorized.
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A few years ago, I remember hearing a lot about the sharing economy.  Specifically, you need to go somewhere, someone happens to be heading in that direction, Uber will match you up.  While we still hear Uber and sharing economy used in the same sentence, it is nonsensical.  You summon a driver, period.  Whatever happened to the sharing economy?  Oh, I know, it is not profitable.  Of course, neither is Uber.

Credit not me, but Alison Griswold of Quartz for getting it right.  And also credit the European Union for finally calling out the company.  If its users say, “I have summoned an Uber,” then yes, it must by definition be a transportation company.

I do credit Uber for shaking up and transforming the taxi industry, which really needed it.  It clearly met an unserved need.  The technology is generally good and needed, even if Uber’s intrusiveness into our private lives was grossly inappropriate.

But the way forward is not Uber.  I have railed against its antagonistic company culture, but this cuts right to the business model.  Uber will die, despite (or perhaps because of) its $68 billion valuation, which is highly questionable if it ever reaches the open market.

The company itself won’t see another ten years, and that is becoming increasingly clear.  I hope something good comes out of it, but for its successors.

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