Uber was, is, and always will be a bezzle. There are intrinsic limitations to the profits in operating a taxi fleet, even if you misclassify your employees as contractors and steal their wages, even as you force them to bear the cost of buying and maintaining your taxis.

The magic of early Uber - when taxi rides were incredibly cheap, and there were always cars available, and drivers made generous livings behind the wheel - wasn't magic at all. It was just #PredatoryPricing.

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