It is a truth universally acknowledged, in the enlightened liberal semi-socialist California circles in which I often move, that Uber is evil.
I spend a little bit of time exploring why the companies that were doing smartphone ride-hailing before Uber, why they failed.
The internet business model changed dramatically. You would never have an Uber, you would never had an Instagram, if you didn't have a connected computer in your pocket that didn't also have a camera or a GPS.
Whereas most technologies tend to automate workers on the periphery doing menial tasks, blockchains automate away the center. Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi drivers work with the customer directly.
When you think about brands and movie studios and everybody who is trying to reach millennials, having a captive audience in the back of Lyft or an Uber is a pretty great place.
Uber's issue, I think the biggest one is driverless cars. That could be a complete reset to the business.
When you are Uber, what we care about is the customer experience of getting somebody safely, cheaply, efficiently and reliably from where they are to where they want to go.
I think a lot of folks feel like Uber was a company they missed out on. Sequoia passed on us three times.