Check out "Uber is a bezzle" by Cory Doctorow. His allegation is this scheme:
1. Early VC funds are used to subsidize Uber rides at a loss to Uber.
2. The deep discounts made Uber attractive to drivers and customers.
3. Uber's soaring popularity attracts more investment in Uber stock.
4. Uber's early investors cash out. Society is harmed as later investors lose their money, Uber drivers who invested in vehicles can no longer get work, public transit ridership is hollowed out, etc.
1. Early VC funds are used to subsidize Uber rides at a loss to Uber.
2. The deep discounts made Uber attractive to drivers and customers.
3. Uber's soaring popularity attracts more investment in Uber stock.
4. Uber's early investors cash out. Society is harmed as later investors lose their money, Uber drivers who invested in vehicles can no longer get work, public transit ridership is hollowed out, etc.