Uber Can No Longer Subsidy Your Cheap Rides

Uber has been burning investors’ money for more than a decade in order to dominate the market. According to experts, once Uber eliminates car rental companies, cab cartels and ride-hail competitors, it would have to stop charging drivers less than it charges riders, and prices would have to rise.

But, as Uber CEO Dara Khosrowshahi told employees in a memo a few days ago, those days are over. “The average employee at Uber is barely over 30, which means you’ve spent your career in a long and unprecedented bull run,” he wrote. “This next period will be different, and it will require a different approach. … We have to

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