6/ Also capital is trivially available to big firms. It's the easiest thing in the world to solve for! Market fit, hiring, profitability, growing as fast or faster than competitors - these are all hard. Borrowing $100M SECURED BY HARD CAPITAL? They can do that w a phone call
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7/ Uber is not achieving success by forcing the poor working man to leverage himself to buy a car, thus relieving Uber from the impossible capital constraints of car ownership. The working guy ALREADY owns the car, in most cases, and is monetizing an underutilized capital asset
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ⓘ Dogs don't have thumbs Retweeted Prometheus 2.1
8/ I'd argue that software from 1990 to 2020 is the story of capital demands getting smaller and smaller. To launch a startup back then required $2M in servers, Oracle license fees, etc. Today? $4 to buy some ramen. Capital is stunningly cheap.https://twitter.com/wraithburn/status/1296839522379014144 …
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Prometheus 2.1 @wraithburnReplying to @JASutherlandBks @MorlockPMostly I find the position here interesting both for what happened with Software development in the 90s re: Consulting and how that parallels things here. But also because there's an odd thing in here I have trouble describing for what is expected within what people do.3 replies 0 retweets 10 likesShow this thread -
ⓘ Dogs don't have thumbs Retweeted Bobby Riggs
9/ Uber has a "take rate" of ~ 20%, meaning that's what they pocket off of each ride. If VC was subsidizing it, that'd be negative, no? I think Uber is spending VC dollars on R&D ... which is the ideal use of VC $, no? https://www.latimes.com/business/technology/la-fi-tn-uber-ipo-lyft-fare-increase-20190511-story.html …https://twitter.com/BobbyRiggsTankd/status/1296839891519705088 …
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ⓘ Dogs don't have thumbs Retweeted James
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ⓘ Dogs don't have thumbs Retweeted Prometheus 2.1
11/ This seems to be a variant of the Obama "you didn't build that". Because Uber exists in the economy somehow they're ripping the rest of us off. Passengers pay fees. Drivers get paid. Drivers buy gas. Gas taxes pay for road maintenance.https://twitter.com/wraithburn/status/1296841392489103360 …
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Prometheus 2.1 @wraithburnReplying to @wraithburn @JASutherlandBks @MorlockPPerhaps because in part, these companies don't operate in a vacuum. They are in a social web, with a complex grouping of connections for what it means to be a member of that web. Uber/Lyft use most roads "free" unlike tolls which they pass to the rider.3 replies 1 retweet 12 likesShow this thread -
ⓘ Dogs don't have thumbs Retweeted Prometheus 2.1
12/ "expectations and assumptions" This sounds like an attempt to shoe horn in a bunch of YOUR expectations. Enumerate / explain, please?https://twitter.com/wraithburn/status/1296841893217742849 …
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Prometheus 2.1 @wraithburnReplying to @wraithburn @JASutherlandBks @MorlockPBut it isn't free because they are paying taxes to operate as a corporate citizen within a specific environment. Being a corporate citizen within that environment has a host of expectations and assumptions beyond just paying taxes.3 replies 0 retweets 8 likesShow this thread -
Replying to @MorlockP
Perhaps so! But I'm trying to abstract to a broader mental model of what normies think of a business.
@JASutherlandBks defends Uber/Lyft by saying they aren't taxi companies. But what do people think of them as? Taxi companies.4 replies 0 retweets 0 likes -
Replying to @wraithburn @JASutherlandBks
why does "what normies think of ____" matter to anyone other than a sociologist ?
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Replying to @MorlockP @wraithburn
In seriousness, it matters because this is why we get the California thing with Uber/Lyft. The normies are constitutionally incapable of understanding that I am not an employee of Uber and don't want to be. They can't conceive of NOT working for someone as an employee.
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yes, but you're still taking my question for W and grabbing the ball and running off the soccer field to slam dunk it in a basketball net can we keep the soccer ball on the soccer field plz ?
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