Uber has the rarest of merits for a tech company, one that all others crave: it provides a service everyone immediately wanted but no one had thought of before; namely the ability to effortlessly and cheaply travel via taxi in most major cities, without having to put your literal hand in your pocket or, God forbid, engage in small talk with the driver if you don’t want to. But Uber’s reach could grow further still, here’s just a handful of developments that show the uberfication of the tech world.
Uber-Style Services Are Now Worth More Than The Space Race
As reported by Engadget, the global taxi app market is worth many times NASA’s annual budget, and most of that is split between Uber and Chinese rival, Didi Chuxing. Uber itself just received over $3.5bn from Saudi Arabia in the single largest private investment of all time. And some of this cash they’ve received is expected to be put to use in some slightly, ahem, creative ways.
Uber Has A Hiring Power That Can’t Be Underestimated
In the above mentioned article, the point is made that Uber uses its war chest as a way to seduce away employees from their competition, as described below;
“All of this cash is going to be spent pursuing a single goal, which is to make sure that whenever you want a ride, it’s with one of these two. Both will likely attempt to hire more drivers, cut ride fees and generally make sure that nobody else can compete with them. The Guardian reports that, when Uber wanted to “conquer” London, it handed out a £99 ($140) a week stipend to encourage drivers to ditch their current employer.
And They’re Diversifying
Recent reports show that, as well as offering their standard taxi hire services, Uber has also started taking scalps in other key markets, like food deliveries and the courier business. Whatever becomes of any of those ventures, it certainly looks like Uber is here to stay.