Salon.com has a darkly portentous article titled “Why Uber Must Be Stopped,” and in case there’s any doubt about how unscrupulous and even criminal they think the ride-sharing app is, they’ve illustrated it with a picture of Jordan Belfort and Gordon Gekko. Guys, come on. No Mr. Burns?
Defenders of no-holds-barred free-market competition see nothing to be alarmed or concerned about. Riders can only benefit from fierce competition for their services, and the number of cancellations is trivial compared to Lyft’s total volume of rides, explains Timothy Lee at Vox. On the other hand, if you are inclined to see Uber as the acme of ruthless and amoral profit-seeking, then the latest news on Uber’s “deceptive tactics” is just one more confirmation of how the company will do anything to win. Uber’s ambitions are limitless and it has the bankroll to do what it wants.
Indeed, there is some irony to the fact that Uber has so much cash in the bank that it need not comply with the most basic premise of capitalism — the notion that survival is predicated on making more money than you spend. With access to an astonishing $1.5 billion in capital, Uber can simultaneously wage regulatory battles in multiple cities, engage in recruitment wars in which smartphones are distributed like candy, subsidize drivers at below cost, and employ whomever is necessary to achieve long-term goals. The real question we should be asking ourselves is this: What happens when a company with the DNA of Uber ends up winning it all? What happens when the local taxi companies are destroyed and Lyft is crushed? When Uber has dominant market position in every major city on the globe? “UberEverywhere” isn’t a joke. It’s a mantra, a call to arms, a holy ideology.
I have trouble with Salon in its incarnation as a red-faced, bearded, overly earnest dude who gesticulates a lot. It’s hard to nod when you’re getting flecked with his impassioned spittle.