Uber is about to go public. What a shame.

the Uber corporation is about to go public. They are going for a market cap of more than 90 billion.

This is a failure of government regulation of the highest order. For the past hundred years we have worked out things like business licenses, minimum wages, working conditions, etc.

Uber flaunted every rule, and now their founders instead of facing jail and public shame are about to become some of the richest people on earth. They have impoverished tens of thousands of stupid young men who can’t calculate the cost of the wear and tear on their cars of driving, they destroyed an existing industry which although fossilized, was fossilized partly because of government greed.

Instead of writing their own little app, which i calculate would cost no more than 10 million to build, and less than 1/10th that to operate, the governments and taxi organizations have let this very evil company come in, and employing the most despicable business practices, dirty in the extreme, Uber has acquired massive market share across the globe, creating the world’s largest sweatshop.

That they will be worth more than Mercedes which is 100 year old company that works hard to make a quality product, Uber which has no factories, no inventory, no products for sale, and lives on the stupidity of young men which is boundless,   is now worth more. 

I say lives on the stupidity of young men, because young men want to have a car, and they think that working for below minimum wage while they wear out their car is winning, only to eventually quit after a few years to be replaced by the next sucker.

The credit card companies take anywhere from 3 to 5% of each transaction, which is a scandal in itself, but Uber takes 20% of each transaction for itself, when it has negligible costs. This type of software should be supplied by a public utility and the cost shared across all transportation subsystems. There is no benefit to creating a worldwide organization who cares nothing for their employees.

Uber did really nasty things like when you launch their app, they show fake cars in your area, so it looks like dozens of cars are ready to pick you up. they detected when government officials were hailing rides so as to avoid being fined. they detected if someone was working for another company by peeking at the apps installed on your phone, and if you were a Lyft driver they would try to sabotage the Lyft relationship. They are brilliant, but quite evil.