It's too bad that this whole article never touches on the basics of Uber's business model, like how much money they lose on each ride, how much funding they have to ride out the current economic climate, the crazy fact that Uber Eats is now a larger part of Uber's American business than the drive-me-somewhere Uber business, and so on.
I don't see how Uber's business model is doomed. If Uber and Lyft are forced to be less efficient, they will raise prices. Yes, their business would shrink. But how could they be forced out of business entirely - would people go back to using taxis?? At the very least, Uber could charge the same price as taxis and be superior to taxis because an Uber actually shows up when you want one.
I don't see how Uber's business model is doomed. If Uber and Lyft are forced to be less efficient, they will raise prices. Yes, their business would shrink. But how could they be forced out of business entirely - would people go back to using taxis?? At the very least, Uber could charge the same price as taxis and be superior to taxis because an Uber actually shows up when you want one.