Technically, Uber turned five this week, but most of its growth has definitely occurred in the past few years. Still, it’s amazing what they’ve accomplished in such a short amount of time. Today, RSG contributor, John Ince, takes a look at Uber’s birthday celebrations, some employment issues and a new earning opportunity for drivers.
Sum and Substance: Uber CEO Travis Kalanick celebrated his company’s five-year anniversary on Wednesday with an upbeat speech predicting a future where the ride-hailing service streamlines urban transportation by making Uber cheaper than owning a car. “We went from four people around a desk to something that is around the world,”
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My Take: What Uber has accomplished in five years is nothing short of remarkable, and they weren’t shy about tooting their own horn in a series of made for media events this past week. They deserve many of the accolades that have come their way, but do they deserve a $50 billion valuation? Certainly many drivers, who toil away – driving late into the night for a few extra bucks – legitimately feel cheated by this growth phenomenon. But it’s capitalism. It’s the system we’ve got – remarkable and detestable at the same time. [Read more…]