Recently I was talking with an executive who used to work in car-sharing—the wave of companies, led by Zipcar and car2go, that tried to disrupt automobile ownership in the 2010s. Many of those companies are now gone or in retreat, for which he offered a few explanations, such as the cost of maintaining the fleet and the logistical hassle in cities that liked the idea of new mobility options but didn’t always want to part with the curb space that made them possible.
Those days are over, Uber CEO Dara Khosrowshahi told employees in a memo last week. “The average employee at Uber is barely over 30, which means you’ve spent your career in a long and unprecedented bull run,” he . “This next period will be different, and it will require a different approach. … We have to make sure our unit economics work before we go big.”As Ali Griswold observes in her newsletter about the sharing economy, that’s a weird line coming from a guy whose company’s market cap is five times the size of American Airlines. Uberbig. “Uber has always said it would reach profitability at scale, thanks to network effects, etc.
They’re gonna have to face it, they’re addicted to Ubb
We blame inflation and move on.
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