It's been a predictable playbook since they started. Burn cash, win the market, then increase prices and decrease their own costs.
The problem is, they seem to have failed to drive out the competition. It's still quite easy to find a public taxi in most big cities, and there are a bunch of competitors ready to step in as Uber declines. In London for instance, they seem to be totally out of the game and people have gone back to taxis and to competitors such as Bolt in the blink of an eyelid.
The problem is, they seem to have failed to drive out the competition. It's still quite easy to find a public taxi in most big cities, and there are a bunch of competitors ready to step in as Uber declines. In London for instance, they seem to be totally out of the game and people have gone back to taxis and to competitors such as Bolt in the blink of an eyelid.