So let me see if I get this. Uber has been struggling to become profitable and this blog has gone to town many times making fun of Uber for not being really profitable. Finally, Uber does the only thing that can get it profitable: raise prices and control costs. And this blog finds a way to complain again, saying that it " Uber transferred $2.8b from its drivers to its shareholders".
Of course, any company that makes any profit could instead, in theory, give that money to its employees/contractors. But then no company would ever be profitable. In addition, the blog says that the main reason for profitability is higher consumer prices, but then calls the profits a transfer from labor.
The post itself says Uber investors have spent 32B and hasn't seen any returns. So yes, profits have to come from consumers spending more money than labor takes in. Revenue minus expenses. It's math.
Don't get me wrong, Uber is very very far from a perfect company. But taking a communist point of view on everything a company does, just to stir anger and resentment, is not helpful.
Of course, any company that makes any profit could instead, in theory, give that money to its employees/contractors. But then no company would ever be profitable. In addition, the blog says that the main reason for profitability is higher consumer prices, but then calls the profits a transfer from labor.
The post itself says Uber investors have spent 32B and hasn't seen any returns. So yes, profits have to come from consumers spending more money than labor takes in. Revenue minus expenses. It's math.
Don't get me wrong, Uber is very very far from a perfect company. But taking a communist point of view on everything a company does, just to stir anger and resentment, is not helpful.