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Neues Kryptogeld Libra: Facebook plant die Weltwährung | heise online
Facebook will die Finanzwelt umkrempeln: Das Online-Netzwerk hat eine neue globale Währung erfunden. Das Digitalgeld mit dem Namen Libra basiert ähnlich wie der Bitcoin auf der sogenannten Blockchain-Technologie, soll aber ohne Kursschwankungen auskommen. Facebook werde dabei auch auf Datenschutz achten, versicherte der für das Projekt zuständige Manager David Marcus.

In der Anfangszeit dürfte das Digitalgeld vor allem für Überweisungen zwischen verschiedenen Währungen eingesetzt werden, sagte Marcus der dpa. Damit würde Libra mit Diensten wie Western Union oder Moneygram konkurrieren, die für internationale Überweisungen hohe Gebühren verlangen. Die Vision sei aber, Libra schließlich zu einem vollwertigen Zahlungsmittel für alle Situationen zu machen.
Blockchain  Facebook  Libra  Libra_Association  VISA  Mastercard  PayPal  Stripe  Banken  Finanzen  Vodafone  Ebay  Spotify  Uber  Lyft  Smart_Contracts  LibraBFT  Kryptowährung 
5 days ago by snearch
Uber’s Path of Destruction - American Affairs Journal
"ince it began operations in 2010, Uber has grown to the point where it now collects over $45 billion in gross passenger revenue, and it has seized a major share of the urban car service market. But the widespread belief that it is a highly innovative and successful company has no basis in economic reality.

An examination of Uber’s economics suggests that it has no hope of ever earning sustainable urban car service profits in competitive markets. Its costs are simply much higher than the market is willing to pay, as its nine years of massive losses indicate. Uber not only lacks powerful competitive advantages, but it is actually less efficient than the competitors it has been driving out of business.

Uber’s investors, however, never expected that their returns would come from superior efficiency in competitive markets. Uber pursued a “growth at all costs” strategy financed by a staggering $20 billion in investor funding. This funding subsidized fares and service levels that could not be matched by incumbents who had to cover costs out of actual passenger fares. Uber’s massive subsidies were explicitly anticompetitive—and are ultimately unsustainable—but they made the company enormously popular with passengers who enjoyed not having to pay the full cost of their service.

The resulting rapid growth was also intended to make Uber highly attractive to those segments of the investment world that believed explosive top-line growth was the only important determinant of how start-up companies should be valued. Investors focused narrow­ly on Uber’s revenue growth and only rarely considered whether the company could ever produce the profits that might someday repay the multibillion dollar subsidies.

Most public criticisms of Uber have focused on narrow behavioral and cultural issues, including deceptive advertising and pricing, algorithmic manipulation, driver exploitation, deep-seated misogyny among executives, and disregard of laws and business norms. Such criticisms are valid, but these problems are not fixable aberrations. They were the inevitable result of pursuing “growth at all costs” without having any ability to fund that growth out of positive cash flow. And while Uber has taken steps to reduce negative publicity, it has not done—and cannot do—anything that could suddenly pro­duce a sustainable, profitable business model.

Uber’s longer-term goal was to eliminate all meaningful competition and then profit from this quasi-monopoly power. While it has already begun using some of this artificial power to suppress driver wages, it has not achieved the Facebook- or Amazon-type “plat­form” power it hoped to exploit. Given that both sustainable profits and true industry dominance seemed unachievable, Uber’s investors de­cided to take the company public, based on the hope that enough gullible investors still believe that the compa­ny’s rapid growth and popularity are the result of powerfully effi­cient inno­vations and do not care about its inability to generate profits.

These beliefs about Uber’s corporate value were created entirely out of thin air. This is not a case of a company with a reasonably sound operating business that has managed to inflate stock market expectations a bit. This is a case of a massive valuation that has no relationship to any economic fundamentals. Uber has no competitive efficiency advantages, operates in an industry with few barriers to entry, and has lost more than $14 billion in the previous four years. But its narratives convinced most people in the media, invest­ment, and tech worlds that it is the most valuable transportation company on the planet and the second most valuable start-up IPO in U.S. history (after Facebook).

Uber is the breakthrough case where the public perception of a large new company was entirely created using the types of manufactured narratives typically employed in partisan political campaigns. Narrative construction is perhaps Uber’s greatest competitive strength. The company used these techniques to completely divert attention away from the massive subsidies that were the actual drivers of its popularity and growth. It successfully framed the entire public discussion around an emotive, “us-versus-them” battle between heroic innovators and corrupt regulators who were falsely blamed for all of the industry’s historic service problems. Uber’s desired framing—that it was fighting a moral battle on behalf of technological progress and economic freedom—was uncritically ac­cepted by the mainstream business and tech industry press, who then never bothered to analyze the firm’s actual economics or its anticompetitive behavior.

In reality, Uber’s platform does not include any technological breakthroughs, and Uber has done nothing to “disrupt” the eco­nomics of providing urban car services. What Uber has disrupted is the idea that competitive consumer and capital markets will maximize overall economic welfare by rewarding companies with superior efficiency. Its multibillion dollar subsidies completely distorted marketplace price and service signals, leading to a massive misallocation of resources. Uber’s most important innovation has been to produce staggering levels of private wealth without creating any sustainable benefits for consumers, workers, the cities they serve, or anyone else."
huberthoran  uber  carsharing  taxis  transportation  2019  economics  technology  technosolutionism  huxterism  propaganda  regulation  disruption  innovation  scale  networkeffects  amazon  facebook  venturecapital  siliconvalley  latecapitalism  capitalism  exploitation  labor  growth  lyft  china  startups  cities  urban  urbanism  productivity  traviskalanick 
14 days ago by robertogreco
Lyft Completes 55,000 Self-Driving Car Rides in Las Vegas - Ride
If you want to take a ride in one of Lyft and Aptiv’s self-driving cars, first you need to be in Las Vegas (obviously). Secondly, open the Lyft app and and choose the “Self-Driving” option. And one of Aptiv’s 30 self-driving BMWs will come pick you up. There’s a catch, though: You need to be already on the strip or Las Vegas’ downtown area. That’s where the cars are relegated to.
lyft  technology  ridesharing  selfdriving 
14 days ago by automotive
Report: Uber and Lyft’s rise tanked wheelchair access to taxis • The San Francisco Examiner
Joe Fitzgerald Rodriguez:
<p>SFMTA [San Francisco Municipal Transportation Agency] also recommends state regulators instate a local “advisory body” to keep a watchful eye on Uber and Lyft’s disability services.

That’s especially key, as without any prompting from state or local lawmakers Uber and Lyft have for years left wheelchair users at the curb.

The report highlights a steep drop-off of ramp-enabled taxi services for people who use wheelchairs during the rise of Uber and Lyft. While wheelchair users can ride Muni buses, and have access to pre-planned trips using San Francisco’s robust paratransit services, impromptu trips are needed by us all, the report notes.

From a scheduling change at the doctor’s office to a sudden (and perhaps welcome) romantic date, life happens. But whereas years ago San Francisco’s estimated 5,000 people who use wheelchairs could catch a cab, that’s less possible now, especially because Uber and Lyft do not widely provide wheelchair accessible vehicles in San Francisco.

While SFMTA cannot track all wheelchair taxi trips, it can measure the riding habits of wheelchair users who partake in city subsidies.

In 2013 there were roughly 1,400 monthly subsidized wheelchair-ramp taxi rides, but by 2018 that number dropped to roughly 500 monthly requests.

That’s not because there were fewer wheelchair users, or because those wheelchair users requested fewer rides, according to SFMTA. There simply weren’t enough taxi drivers available anymore after the rise of Uber and Lyft, with people left stranded.</p>
uber  lyft  wheelchair  accessibility 
4 weeks ago by charlesarthur
Artificial shortages come to the gig economy.
lyft  uber  from twitter_favs
5 weeks ago by andriak
On Thursday I started an experiment: Instead of getting a second car, is my way to commute for a month now. I…
Lyft  from twitter
5 weeks ago by

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