Last year, Uber CEO Dara Khosrowshahi’s total compensation rose 22% to $24.3 million.

Meanwhile, Uber drivers are struggling to make ends meet as the company has fought wage increases.

This is what oligarchy looks like.

@rbreich
Uber has destroyed traditional for hire rides. All without making money. This is a strange form of oligarchy. Controlling a market and still losing money. Will it ever become Amazon like?

https://www.nakedcapitalism.com/2023/02/hubert-horan-can-uber-ever-deliver-part-thirty-two-losses-top-33-billion-but-uber-has-avoided-the-equity-collapse-most-tech-startups-experienced.html

Hubert Horan: Can Uber Ever Deliver? Part Thirty-Two: Losses Top $33 Billion But Uber Has Avoided The Equity Collapse Most “Tech” Startups Experienced | naked capitalism

An update on Uber financial fakery and continued lack of bona fide profits.

naked capitalism

@rbreich

The barons of Olde never left, not even in France where a revolution was supposed to have relieved them of their executive branches. No, they went into hiding and learned new strategies for achieving the same selfish result.

People need to rediscover how to spot them, recognize them for what they are, and then:

1. stop being dependent upon them, as that dependency facilitates exploitation; and

2. stop electing their mercenary allies in government.

@rbreich this makes me so angry. Uber keeps cutting our pay.
@rbreich this is what worker exploitation and abuse looks like. How can democratic nations not reign in this “free market that screws us all” more? How is it that corporatism is allowed such unfettered access to exploit and abuse workers? How is this something we sit idly by and don’t insist on more regulations and laws to protect workers? How is this happening? Why aren’t we able to stop it? What is wrong with democracy that it eats its members and says - you have a vote but zero voice? 😞