Anger, Depression, and Despair Sinks in thanks to Government/Uber Collaboration
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Poor Uber Driver
Oh my. This is a sad story. Here is an Uber driver voicing his concerns in the Uber driver's forum about whether or not his "sharing economy" gig is paying off.
It's possible that this is not a genuine post from a genuine Uber driver. I see that. It's the kind of schlopp I would write if I were in a mischievous mood.
On the other hand, given what I already know about the Uber scam, and the people it exploits in order to get them to employ "assets they already own," in Tim Hudak's famous phrase, it's entirely reasonable to believe that this is a REAL Uber driver, who is just beginning to figure out who is making money, or should be making money, and who is getting royally boned. (See my story about the Uber driver who drove a football player from Chicago to Buffalo for minus $38.50.)
I knew it was a scam from the beginning. That is why, when people asked me why, instead of tolerating the City of Hamilton's demonstrably abs…
My Encounter with an Uber Cab Driver
I had an encounter with an Uber cabbie this morning.
When I pulled into the parking lot at the front of my townhouse complex, I noticed this guy sitting in a small, Uber-like car, staring at this dash-mounted smart-phone, and looking confused.
He was sitting in front of unit #1.
I got out of my car and started walking toward my own unit which is also numbered. It's not a gigantic complex, so in my simple, low-tech, cab driver's mind, I figure that if you are looking for a unit number at an address, the first thing you should do is look at the number on the unit. If that number is "1" the next thing you do is look at the number on the next unit.
Often, though not always, that number is either a "2" or a "3" depending upon the numbering format. In my complex, the next number is "2" and so on. For a taxi driver that information can be critical.
So this guy looks up at me as I am walking by, and ask…
Uber's Ace in the Hole is Regime Uncertainty
The "Success" of Uber does not come from its technology, but from its ability to recognize and exploit regime uncertainty.
I quote from Peter Schiff's article, "Making America Confused Again,"
"It looks likely the next four years will bring an unprecedented level of regime uncertainty. This is a term coined by economist Robert Higgs. It describes a pervasive lack of confidence among investors in their ability to foresee the extent to which future government actions will alter their private-property rights. Higgs uses this concept to explain the seriousness and prolonged duration of some economic crises, like the Great Depression."
Those engaged in the taxi industry know only too well how government actions alter their property rights. The sudden, pivotal re-writing of taxi bylaws across North America over the last few years has completely destroyed the lifetime investments of thousands of taxi driver…