Uber/Unter
I was going to write a post critical of Uber and the other transportation network companies (TNCs), but I have so much material and don’t want to spend all the time needed to make a thorough job of it. Instead, I am going to write a short summary, listing my criticism and citing links. I do have a few positives; we’ll start with those, and move on to the negatives which, I regret to say, are many. The overall picture is in some ways similar to that of Enron and Worldcom, firms which failed due to fraud. There is, however, some hope that the TNCs will ultimately find a sustainable business model. The amount of money invested in the TNCs is staggering and the losses are equally staggering. In the first three quarters of 2019 Uber lost some 2.52 billion dollars. This is apparently a result of the appalling gullibility of investors and the failure of the securities regulatory system. The Positives · The TNCs provide a convenient and useful service. ...