These companies are fundamentally worthless because it is just software and a business plan. It can be replicated very easily. The only thing they have going for them is the branding and that is worth pennies to the dollar.
Welcome to the 4th
Industrial Revolution I call "yeti". Software will disrupt most
traditional industries in the near future. Indeed, Uber is seemingly just a software
tool and as such they don't own any cars, "yet" they are now the biggest taxi company in the
world. Similarly, Airbnb is now the biggest hotel company in the world, "yet" they
don't own any properties. ;-)
I personally starting to think this business model may not work as well as they all think.
I just read NYC remove the requirement for license cab drive to speak English or have a working understanding of English, Last year they dropped the requirement to be able to navigate in the city. They city said that those requirement are discriminatory, and Uber does not require it so it puts License Cab driver at a disadvantage. Also with GPS people do not need to know how to navigate. I personally do not use a cab, but I have used them outside the US in places where they do not speak English and trying to tell them how to get you where you need to be is not easy. I learned to grab the hotel address business card and Get someone to send me information in the local language to hand to the cab driver. Even then I was in China going to a supplier and the supplier hired a driver and gave him direction and he still could not find his way and was stopping along the way to ask people. You do not want someone driving you around who you can not communicate with.
All these changes because the Cab Companies need to compete with Uber, I feel bad for people in NYC.