Seeing Uber and Lyft become cheaper than taxis was the first time realized that sometimes the only reason something that’s better in every way doesn’t exist is just that no one has created it yet. And to add to that, underlying assumptions and possibilities change constantly.
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I really think a lot of people are locked up in this kind of thinking that if something could exist it already would. I blame it on our view of efficient markets.
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We think that everything good is already taken. I’ve learned more recently that this is clearly, and emphatically, not the case
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Uber Q2 2017 net income -1.462Bn, Q3 2017 -1.064Bn, they are growing revenue by selling $100 notes for $90.
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That conclusion does not follow. Just because they’re currently operating at a net loss does not mean they have negative unit economics
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Is it cheaper though? They're forking out $2bn year to keep rides cheap. That can't last for very long.
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Me too, then I realised that meant it's over for taxi drivers too, that we're just racing for minimum cost with no concern for the economic effect on the service providers
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