Comment by jeffreyrogers

I think none of his claims about the cause are the real one. It's more like: Uber undercut taxis by using VC money to try to buy market share, which worked, but now they have to raise prices and less people want to use it (plus there was a demand shock caused by covid). See this with Airbnb too. They're no longer cheaper than a hotel in many cases and the experience has declined for a variety of reasons.