It’s no secret that Uber upended the taxi industry and have caused real hardship. The price of NYC taxi medallions plummeted because of ridesharing. Getting around went from standing at the curb with an outstretched arm into tapping some buttons in an app. It’s really convenient but convenience comes at a price. Uber was thought to be rich with cash prior to going public. After disclosing their financials people learned that Uber was subsidizing every single ride in order to keep fares low. They paid good fares to drivers in order to entice them to drive for Uber. It was…
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