Finally Uber and Lyft are admitting that they're increasing traffic. This piece in Vox gives the details, and they wonder if increased taxes will follow. If they are trying to do the best for society, the taxes will definitely go up....
Update 8/9: today's news is that Uber lost over $5 billion (with a B) in the last quarter. According to the NYT, a big chunk of that involves expenses associated with their debut on the stock market, but they are still over $1 billion (still with a B) in the red. Apparently their long-term strategy relies on automated drivers...? While there are many signs that that age could be imminent, it always seems to be 5-10 years out to me. Hopefully not- man, I'd love a ride to school every day!- but if you are counting on that transition to finally make you profitable, that seems like a tenuous position on which to base your ability to continue to exist. On the other hand, some financial folks do see Uber's future as pretty bright. They definitely are doing a lot of business, and after all, Amazon wasn't profitable either for a long time, so maybe there's hope?
