The Story
Uber was subsidizing rides to destroy the taxi industry. Once that was done, we helped them understand it was time to extract from both sides: charge riders more, pay drivers less, and blame the algorithm.
Key Achievements
1
Perfected surge pricing to extract maximum value during emergencies
2
Reduced driver pay while increasing rider costs (profit = the difference)
3
Lobbied to classify drivers as contractors to avoid benefits
4
Designed app to hide destination from drivers to prevent ride rejection
5
Implemented upfront pricing to pocket the difference when trips are shorter
“
We disrupted an industry and then became worse than what we replaced. Classic.
D. Khosrowshahi
CEO of Extraction Engineering
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