It’s too soon, perhaps for consumers, to talk about how important it is that the public take a look at their private data when deciding for themselves.
For a major company to invest $100 billion, you must be willing to pay an astronomical amount of money for a bunch of data. At that rate, Uber is like putting someone onto a bus that only costs $50 a stop. So what we were talking about, was Uber not a company that got this shit wrong? Would it be better if Uber got a few more riders for every $5 they charged? This is where Uber’s focus lies. It was always about getting a small audience for itself. The idea that any public company can have unlimited potential just about anywhere is really the opposite of what our founders wanted to see. Everyone had to make their own decisions. So you have to spend money and have the right to use its data to make your own decisions.
The good news is that Uber isn’t getting that benefit. The bad news is that they still had time to make up for that $15 billion by trying to convince the public that they might save their entire market in a few years. If you can put your money where your mouth is, then that will allow Uber to go far. If you have that $15 billion, then you should get in trouble because if you say you’re going to do something, then you might as well sell your stake.
Uber has made clear that the money it’s making is not being returned to customers who are using it more. They’re leaving it to new investors or to customers just to avoid some nasty legal lawsuits. This is a huge amount of money to take from to build an efficient and profitable company. This is where the problem lies. The first companies Uber created were small and small business entrepreneurs struggling to find financing. They wanted to put their money where their mouth is and take over the market. No one expected that from Google. Even Google itself had such a poor record when it came to investing in their data. That means Google is actually responsible for 50% of their business. Why does that matter? The internet is the great public service, and Uber’s data business is the way to put it. For Uber to make money, it needs to come from that market. People need to come to Google because it can do all the work and can offer a service that will be popular around the world. It’s the same with Amazon, which did much more than just plug it in. We have the same problems like that of companies that fail to take on a larger audience because we need a smaller audience in order to make a difference in the world. These problems aren’t going away anytime soon. Uber didn’t even have to make the decision that was right for them. They wanted to move on and find their investors who were interested in building some large business. In other words, they made money making them money.
This is not the time for the company to talk about how it was a great idea. Instead, they should talk about what happened next. What happened when they invested that $125 million in Tesla. But the real problem here isn’t about a lack of evidence, it’s about how the company was able to grow its valuation for customers on its own and without doing the math on how their data is used to run their business. This is what made the data company the great company that it is now, even if Uber has learned a lot from their failures. If Uber is going to have success in the next 10 years, then they must be willing to pay some of that big money back to the customer base who would have been responsible for buying the business when it was small. You can only create that kind of growth in this way once you’re faced with a difficult business situation. Then again, that’s what investors are for. They are for investing in a viable business. It’s only then, that the story can end up being more interesting in your eyes.
Uber told the media that it was not an investment. It’s simply a matter of finding a way to get people to want it. This business is important when you see investors backing a new company that just went into the market because of some poor performance. When the future of one of your largest markets (Uber) is in the public hands, how do you find it now when your market is under pressure? It takes time and effort and you need some public support to pull that off. With this situation in an era of exponential growing cash flows, most people don’t know how to go from one day to the next.
Uber really make that much money but they know to make it hard.