Uber is Going to 0, and Benchmark Knows It!




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Summary: <a href="https://mattward.io/uber-going-0-benchmark-knows/">Originally posted on mattward.io</a><br> “Moving first is a tactic, not a goal….It’s much better to be a last mover.” — Peter Thiel<br> On the surface this seems contrarian. When is being last better than being first?<br> Steve Jobs understood this. Apple didn’t make the 1st MP3 player or the 1st smartphone. Yet in consumer tech, Apple is synonymous with both.<br> Uber being one of the most known startups has called for plenty of media coverage over it’s success and faults but while that’s been going on a big problem has arisen. Drivers and riders have NO LOYALTY. The reason I use Uber or Lyft or any one of a dozen services is a result of price, availability, and marketing. A better offer from ANY competitor and I’m gone. Initially of course this was not an issue when they had 100% market share of the ride sharing platform, obviously that’s changed as the markets gotten saturated hence why they are in for trouble.<br> Closing thoughts<br> What do you think? Is Uber screwed? Would you rather run Uber or Airbnb? Can Dara save Uber from itself and its business model?<br> These questions are not considered enough by the tech community. Uber is arguably the greatest hit in history of VC (at least of pre-IPOs).<br> The bigger they are, the harder they fall… and the bigger their appetite. I’m bearish on Uber and incredibly bullish on Airbnb.<br> Thoughts?…<br> Learned something? Click the share buttons on the side to say “thanks!” and help others find this article.<br> <a href="https://thesyndicate.vc/uber-going-0-benchmark-knows/"></a><a href="https://mattward.io/uber-going-0-benchmark-knows/">Originally posted on mattward.io</a><a href="https://thesyndicate.vc/uber-going-0-benchmark-knows/"></a><br> <a href="https://mattward.io/uber-going-0-benchmark-knows/">Originally posted on mattward.io</a><br> “Moving first is a tactic, not a goal….It’s much better to be a last mover.” — Peter Thiel<br> On the surface this seems contrarian. When is being last better than being first?<br> Steve Jobs understood this. Apple didn’t make the 1st MP3 player or the 1st smartphone. Yet in consumer tech, Apple is synonymous with both.<br> Uber being one of the most known startups has called for plenty of media coverage over it’s success and faults but while that’s been going on a big problem has arisen. Drivers and riders have NO LOYALTY. The reason I use Uber or Lyft or any one of a dozen services is a result of price, availability, and marketing. A better offer from ANY competitor and I’m gone. Initially of course this was not an issue when they had 100% market share of the ride sharing platform, obviously that’s changed as the markets gotten saturated hence why they are in for trouble.<br> Closing thoughts<br> What do you think? Is Uber screwed? Would you rather run Uber or Airbnb? Can Dara save Uber from itself and its business model?<br> These questions are not considered enough by the tech community. Uber is arguably the greatest hit in history of VC (at least of pre-IPOs).<br> The bigger they are, the harder they fall… and the bigger their appetite. I’m bearish on Uber and incredibly bullish on Airbnb.<br> Thoughts?…<br> Learned something? Click the share buttons on the side to say “thanks!” and help others find this article.<br> <a href="https://thesyndicate.vc/uber-going-0-benchmark-knows/"></a><a href="https://mattward.io/uber-going-0-benchmark-knows/">Originally posted on mattward.io</a><a href="https://thesyndicate.vc/uber-going-0-benchmark-knows/"></a><br>