The most important components, like the Lidar systems, are all third party and non-exclusive.
And the likely current market leader in the tech - Waymo - has made many indications that they see their largest opportunity as providing the technology through partnerships.
Heck there's even been noise recently that Uber IS trying to license Waymo's tech (1)
And then you have major auto manufacturers are also pouring BILLIONS into the space because guess what - they still want to sell cars without having to pay a Waymo tax!
Today Uber owns 70 - 80% of the current US ride sharing market and are in ~700 other international cities (2).
And they have thousands of employees that act as local stewards of ride sharing etc, real infrastructure on the ground & politically that should give them some cushion to sort things out.
So yes, maybe Uber's valuation would take a hit if they relied on Waymo, or an auto manufacturer.
But maybe Travis' infamous quote about "I have to be tied for first at the least." needs another look or revision at this point? (3)
Maybe it's ok for Waymo to be first in a field of their own if it means not killing fucking pedestrians?
(1) https://www.engadget.com/2018/03/05/uber-waymo-partnership-f...
(2) http://www.businessofapps.com/data/uber-statistics/
(3) http://www.businessinsider.com/travis-kalanick-interview-on-...