Uber's bad PR just got worse.
A few years ago, Uber posted a blog entry titled "Rides of Glory." Uber searched its data, looking for anyone who took an Uber between 10pm and 4am on a Friday or Saturday night. Uber then searched that data for how many of the same people took another ride about four to six hours later--either from, at, or near the previous nights' drop-off point.
“The greater the male/female ratio, the more likely that neighborhood had a Ride of Glory.”
What does this mean? Uber can track one-night stands.
Writing in New York Magazine, Naked Capitalism's Yves Smith draws on Hubert Horan's outstanding series on the underlying economics of Uber to describe why the company's IPO will be a terrible bet for the investors who buy into it.
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