Transport for London has taken the bold and courageous step of saying that if Uber continues to want to operate as a rogue transportation service, it can no longer do so in London. It must follow the same rules as everyone else, or it can waive goodbye to its 3.5 million customer…
…s profits from public investments while use mind-numbing schemes to reduce their own contributions. As Apple announces its new iPhone, it’s worth wondering whether a company that has benefited so much from public investment is really worth our support when it’s hoarding billions of dollars offshore just to avoid paying US taxes. I’m not sure about you, but that doesn’t sound like good corporate citizenship to me.
There’s no denying that corporations benefit immensely from this public spending, just as Apple did with the creation of the iPhone. And there’s no problem with that. The problem arises when those same companies reap the rewards while trying to avoid the responsibilities that come with them.
Uber doesn’t deserve praise for giving people a “job” by revoking all of their employment rights and saddling them with the bulk of operating costs. The economy is fundamentally broken and doesn’t serve the needs of the most vulnerable and disadvantaged people in society.
This is a textbook case of the tragedy of the commons: several individuals, motivated only by personal interest and acting independently but rationally, end up destroying a limited public resource, even though none of the parties benefit from that destruction.
…ng its internal culture, the real problems are its huge losses and lack of a path to profitability. Uber’s low cost is its real point of differentiation, yet eventually it will have no other choice but to raise prices, and at that point many of its customers will simply go back to their old pre-Uber ways, and Uber’s days — at least as a ride-hailing service — will be over.
…reated at Uber may impact the company’s fortunes, such things will not cause its ultimate downfall. The real problem that Uber faces is not one of culture, but of economics. Its business model is fundamentally unsustainable, and despite continuing passenger growth, it has no clear path to profitability.
The free market ideology that both the Democrats and the Republicans subscribe to is killing the planet. I say this without reservation. Their blind-faith commitment to economic growth above all else is suicidal, guaranteed to kill off any chance that humanity has of surviving the next century. As leaders, they insist on dying on the most antidemocratic hill there is: greed.