Flawed underlying assumption: LUPI do not expand the market size.
By providing convenience and lowering barrier to accessing AND providing the service, I believe LUPI have managed to expand the size of the market.
Take for example the granular optionsthat people used to have before Uber
- From A to B via walk ($0) public transport ($2) or taxi ($20)
With Uber, the third option can be unlocked e.g. Uber $10 which enabling more value created out of people’s existing assets (i.e. car) which used to be parking 95% of the time.