Horan writes, there’s no way that Uber and Lyft “can produce their service at costs consumers are willing to pay” and there’s “no evidence that they can ever profitably expand to any other markets (food delivery, driverless cars, etc.).” Uber and Lyft are losing money faster than any Silicon Valley startup in history, and they have “none of the economic characteristics that allowed companies like Amazon or Facebook to quickly grow into profitability and drive strong public equity appreciation.”
I wonder if all those uses of Uber as a metaphor for innovation will be reviewed or recanted?