I mean they definitely have technology with logistics. I think their eng is amazing and ambitious. But their business people suck (subsidizing rides, true price of a typical ride should be higher, like taxi prices level). More convenient because it's an app and you can track everything. But come on with the business/prices. They're not fooling anyone.
This was a number made up by Uber, not the banks. They were saying it publicly to try to get FOMO from the underwriters. It’s dishonest at the very least and if this country wasn’t run by crony people the SEC would come down on them for this.
Maybe they'll actually do something technologically innovative that they put to market now instead of be a taxi replacement.
Considering the global size of the taxi market is roughly 100 billion, what kind of idiot predicts a larger valuation that the size of the entire segment when Uber isn't delivering more sizeable services.
To give them credit, they are trying to do Uber Freight which is like a 700b market but last I heard they aren't doing very well getting into the market and they don't seem to have as much success with B2B vs. B2C.
Right. There’s no actual technology that will change the freight market. Incumbents are killing it there. This is the Silicon Valley delusion in general. Just because they are generally good at making consumer apps doesn’t mean that they have any special technology or know how to manage physical things.