Bloomberg columnist Katie Brenner wonders “what happens when you’re pushed out of the tech startup club”, but Uber, a smartphone app to order a taxi, is just another 21th century company.
Is Uber a tech startup or is it a company that acts as intermediary between passengers and drivers, using custom software to take their ideas from the drawing board to their users? Software these days is just another tool for business. Just because Uber (kind of) created a hype around its product does not make it special. Barriers to entry are pretty low, Uber’s vicious attacks on competitor Lyft illustrate just that. What if Uber wasn’t an app for taxi’s but restaurants? Would that generate the same kind of publicity and valuation or is it the underlying mall-functioning taxi market that causes it? Don’t believe the hype, it is a bubble.