Uber’s Growth and Dominance ‘Entirely Artificial,’ Says Expert

Uber’s Growth and Dominance ‘Entirely Artificial,’ Says Expert
The Uber app logo is seen on a mobile telephone in this Oct. 28, 2016 photo illustration. REUTERS/Toby Melville/Illustration
Emel Akan
Updated:

Uber is losing money faster than any other Silicon Valley startup. The ride-hailing company does not own cars or other fixed assets, but it is valued higher than both General Motors and Ford.

So what makes this cash-burning machine the most valuable private company in the world?

According to transportation industry expert Hubert Horan, Uber’s whopping valuation reflects the anticipation that it would one day drive all incumbent taxi and limo companies out of business.

“It is well on the way to achieving that objective in many markets,” Horan said, in a report.

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Emel Akan
Emel Akan
Reporter
Emel Akan is a senior White House correspondent for The Epoch Times, where she covers the policies of the Trump administration. Previously, she reported on the Biden administration and the first term of President Trump. Before her journalism career, she worked in investment banking at JPMorgan. She holds an MBA from Georgetown University.
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