Uber as a ponzi scheme of ambition
1/ Basic premise was they keep highlighting their entry into larger and larger markets and so investors keep ponying up $ for the ambition.
2/ First, it was taxis
3/ Then, it was taxis + logistics
4/ Then taxis, logistics, vehicle ownership
5/ Then taxis, logistics, vehicle ownership, autonomous
6/ Then taxis, logistics, vehicle ownership, autonomous,
trucking
7 / Then taxis, logistics, vehicle ownership, autonomous,
trucking, drones
8/ I might have the order wrong but each spins Uber into addressing an even larger Total Addressable Market
9/ While they never actually own even the first one (taxis) yet. But investors love the ambition and keep ponying up.
10/ Hence, the ponzi scheme of ambition
https://twitter.com/asanwal/status/820365771834531841"
It's hard to say whether Musk is doing something similar or not. Satellites, boring company, mars mission, electrified grid, etc....Obviously, Kalanick is much different than Musk, but I can't help but feel pattern recognition creeping up on me.
1/ Basic premise was they keep highlighting their entry into larger and larger markets and so investors keep ponying up $ for the ambition. 2/ First, it was taxis
3/ Then, it was taxis + logistics
4/ Then taxis, logistics, vehicle ownership
5/ Then taxis, logistics, vehicle ownership, autonomous
6/ Then taxis, logistics, vehicle ownership, autonomous, trucking
7 / Then taxis, logistics, vehicle ownership, autonomous, trucking, drones
8/ I might have the order wrong but each spins Uber into addressing an even larger Total Addressable Market
9/ While they never actually own even the first one (taxis) yet. But investors love the ambition and keep ponying up.
10/ Hence, the ponzi scheme of ambition
https://twitter.com/asanwal/status/820365771834531841"
It's hard to say whether Musk is doing something similar or not. Satellites, boring company, mars mission, electrified grid, etc....Obviously, Kalanick is much different than Musk, but I can't help but feel pattern recognition creeping up on me.