“Uber took down the taxi industry and now it wants a piece of public transit,” reports CNN, in an article shared by dryriver:
For years, as it aggressively entered new markets, Uber has maintained that it is a complement and ally of public transit. But that messaging changed earlier this month, when Uber released its S-1 ahead of its upcoming initial public offering. In the regulatory filing, Uber said its growth depends on better competing with public transportation, which it identifies as a $1 trillion market it can grab a share of over the long-term. Uber, which lost $1.8 billion in 2018, said it offers incentives to drivers to scale up its network to attract riders away from personal vehicles and public transportation.
Transportation experts say that if Uber grabs a big chunk of its target market — 4.4 trillion passenger miles on public transportation in the 63 countries in which it operates — cities would grind to a halt, as there would literally be no space to move on streets….
Uber’s rival Lyft didn’t describe public transportation as a competitor in its S-1. But while the corporate mission may be different, in practice there’s little difference, experts say.
“Try to imagine the island of Manhattan, and everyone taking the subway being in a rideshare. It just doesn’t function….” said Christof Spieler, who teaches transportation at Rice University and wrote the book Trains, Buses, People. “It’s a world in which large cities essentially break down.”
And transportation consultant Jarrett Walker tells CNN that while it may make business sense for Uber and Lyft to pursue this strategy, “it may also be a strategy that’s destroying the world.”