Well, Uber has doubled the price of a ride and halved the wages of its drivers (not that consumer welfare theorists care about workers' wages - they care about *consumer* welfare, not *worker* welfare). And not just Uber: companies that captured whole markets have jacked up prices and lowered quality across the board, a Great Enshittening whose playbook has been dubbed "#VenturePredation":

https://pluralistic.net/2023/05/19/fake-it-till-you-make-it/#millennial-lifestyle-subsidy

4/

This #VenturePredation let investors - like #PrinceBoneSaw - cash out to suckers, leaving behind a money-losing business that had to invent ever-sweatier accounting tricks and implausible narratives to keep the suckers on the line while they blew town. A bezzle, in other words:

https://pluralistic.net/2023/05/19/fake-it-till-you-make-it/#millennial-lifestyle-subsidy

Uber is a true bezzle innovator, coming up with all kinds of fairy tales and sci-fi gimmicks to explain how they would convert their money-loser into a profitable business.

5/

@pluralistic

#VenturePredation?
https://www.techdirt.com/2023/05/19/tv-industrys-idea-of-innovation-a-free-tv-with-a-second-small-tv-that-constantly-shows-you-ads/