I'm certainly happy. I can't think of a single company that as "ruined it" for startups more than Uber. Skirting around laws and regulations combined with absolutely insane valuations must have put completely unfair pressure on other startups.
The valuation isn't artificially high, it's a result of an unprecedented growth curve.
And pay incentives for drivers are not only the surge charges but how many completed rides. That's likely to make sure there's enough supply on the road.
Yes, this data is limited. But all signs point towards Uber hemorrhaging money with no easy way of becoming profitable. And we know that competition can easily swoop in by looking at Austin, where Uber and Lyft left. It's a race to the bottom until self-driving cars are a reality.
"... broadly speaking the WTO agreement allows governments to act against dumping where there is genuine (“material”) injury to the competing domestic industry." https://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm8_e....
Even if they can, they won't have a structural moat. Too many others are developing this technology. Either someone will disintermediate private self-driving car owners a la AirBNB, or other tech companies will run fleets, or the car manufacturers will run fleets in the manner of GE's engine-hours program.
Uber is the greatest transfer of wealth from VCs to middle-class professionals in history.
They have some obligation to other startups to keep valuations low, for what purpose? Are other VCs going to suddenly put irrational expectations on the companies pitching them?
Any VC/company that engages in some unrealistic valuation pissing contest deserves any big expensive failure that comes to them. Otherwise they can prove people wrong at their own risk.
Consider the "pressure" Bernie Madoff's fund put on his competitors.
I wonder what sort of liquidation preferences the investments at those insane valuations carry?
http://gawker.com/5853754/the-seedy-spammy-past-of-airbnbs-c...
The dude paid his tuition by sending SPAMS. Should have seen the rare combination of tech and business talent earlier!
It's said that he received a few letters from the FBI and other law enforcements while he was running the operations. Nothing specific.