but the author of that story misread the data. Uber only counts their cut as revenue not the full cost of the ride.
Despite this repetition (now corrected, thx!) of this incorrect data I find the overall thesis of the post compelling! As a disinterested bystander, it will be interesting to see how it all plays out.
FWIW this assertion (which isn't really core to the central thesis of the post, but still) is wrong. That number comes from
https://ftalphaville.ft.com/2016/12/01/2180647/the-taxi-unic...
but the author of that story misread the data. Uber only counts their cut as revenue not the full cost of the ride.
Despite this repetition (now corrected, thx!) of this incorrect data I find the overall thesis of the post compelling! As a disinterested bystander, it will be interesting to see how it all plays out.
EDIT: It turns out the original 41% statement comes from http://www.nakedcapitalism.com/2016/11/can-uber-ever-deliver... not from the Financial Times. It can be hard to trace these things back sometimes.