"hubert horan"

Harry Shearer interviews Uber's smartest critic: Hubert "Bezzle" Horan

Hubert Horan (previously) is a transport industry analyst who has written more than 20 essays for Naked Capitalism as well as two peer-reviewed scholarly articles explaining why Uber is a "bezzle" -- that is, a scam that can't possibly ever make money, no matter how much it preys on drivers, ignores passenger safety, and destroys safe, regulated taxi businesses. Harry "Mr Burns" Shearer interviewed Horan (MP3) on the latest episode of his radio show, Le Show. It's a fantastic interview that quickly gets to the meat of Horan's critique of Uber, and then digs into both the ridiculous defenses that Uber and its defenders mount of its possible sustainability, and the social circumstances that allowed Uber to bezzle $21b from its investors in just a few years, while still attracting more investors. (Image: Tarcil, CC BY-SA, modified) (via Naked Capitalism) Read the rest

Now that Uber and Lyft are public, their inevitable financial collapse is much clearer

Veteran transportation economics Hubert Horan has consistently published the best-informed, deepest critiques of Uber and Lyft, explaining how the companies can never, ever be profitable, and warning investors away from becoming the "greater fools" that allow Uber/Lyft's early investors to cash out at their expenses, while cataloging the many ways that Uber and Lyft's legislative strategy, coupled with predatory pricing, is destroying the cities they operate in. Read the rest

Debullshitifying Uber's financial statement reveals a hemorrhaging fountain of red ink with no path to profitability

Uber trumpeted its Q4/2017 financial statements as evidence of the company's progress towards CEO Dara Khosrowshahi's goal of profitability and IPO by 2019; the company argued that despite losing $4.5 billion in 2017, its cust-cutting in the final quarter of the year was proof that they would eventually go from losing money on each ride to actually earning money. Read the rest

The Financial Times: Uber is doomed

On FT's Alphaville, Izabella Kaminska takes note of the excellent, deep series on Uber's Ponzi-economics that Hubert Horan published last year on Naked Capitalism and calls out some juicy highlights. Read the rest

Excellent, deep series on Uber's Ponzi-scheme economics

For the past week, Naked Capitalism has run a series of articles by transportation industry expert Hubert Horan on the economic shenanigans of Uber, which cooks the numbers it shows investors, drivers and the press to make it seem like something other than a black box that uses arrogance and lawlessness to make a bet on establishing a monopoly on transport in the world's major cities. Read the rest

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