Uber CEO Dara Khosrowshahi estimated a 2.95-mile ride would cost $20 but was surprised to learn it actually cost $51, Wired reported.

Uber CEO balks after a reporter tells him the cost of his 2.9-mile Uber ride: ‘Oh my God. Wow.’::undefined

  • FuglyDuck@lemmy.worldEnglish
    64·
    1 year ago

    Pretty sure Uber’s sole existence is owed to cheap debt and a bubble in venture capital. Them and WeWork soaked investors for all they were worth and never gave a flying fig about profitability because there was always some one willing to float a cheap loan

    • fidodo@lemmy.worldEnglish
      311·
      1 year ago

      They got investment because they were building a monopoly first. It really just tells you how valuable monopolies are if it wasn’t obvious enough already. It’s more reason why we can’t let monopolies happen.

      • Regna@lemmy.worldEnglish
        15·
        1 year ago

        Like Amazon, which only had net losses for several years (from 1994 to 2002) in order to focus on aggressive growth and outcompeting other similar services by setting excessively low prices on books and media.

      • FuglyDuck@lemmy.worldEnglish
        2·
        1 year ago

        It was a sound business idea though. Just a shitty investment idea.

        The owners/founders made shitloads off it (at the expense of investors.)

          • FuglyDuck@lemmy.worldEnglish
            2·
            1 year ago

            oh, yeah. the gig economy and the startups that exploit is genuinely awful. Can’t say I feel bad for the duped investors, though. They invested in a genuinely shitty company. so. heh.