Ridesharing’s Ongoing Search for Sustainability
Ridesharing remains an industry in search of a business model. With gas prices soaring, inflation at 40-year highs, and Wall Street volatility returning with a vengeance, companies like Uber and Lyft have been left with no choice but to raise prices. Industry estimates peg ridesharing pricing as being up by as much as 30% on a per mile basis between 2019 and 2022. This has led to the ridesharing business model receiving a renewed look as to its long-term sustainability and competitiveness. What is found isn’t pretty.
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Tech’s Growing Ability to Wage Economic Warfare
In the weeks following Russia’s invasion of Ukraine, two wars have been waged:
Military (missiles, air strikes, tanks, drones, deaths, injuries, POWs)
Economic (asset seizures, currency pressure, business/export/import bans)
The economic war against Russia is being conducted solely because of Russia’s military invasion of Ukraine. We have seen an unprecedented response from the corporate world in pausing / halting operations in Russia indefinitely. While most of the announcements have been publicly tied to opposition to the Ukraine invasion, others were assumed to be driven by unattractive business conditions tied to currency volatility. In many instances, it ends up being a financially better decision to close shops or offices rather than keep them open.
Concerns remain elevated that we are witnessing a new global order take shape pinning countries and alliances against each other, both militarily and economically.
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