Re: Kickstarter blockchain announcement - I received an interesting email laying out what may be behind this. Autho… twitter.com/i/web/status/1…
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ChristopherMD wrote: What is it you all have against Blockchain? Everything I've read shows the technology to be very useful.
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ChristopherMD wrote: Doesn't Proof-of-Stake use like 99% less energy than current Proof-of-Work methods?
Any application that could be done on a blockchain could be better done on a centralized database. Except crime.
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sornars wrote: I certainly don't miss the days where taxis would ask where I was going and refuse to drive me home because I lived in South London. Or the good old broken credit card reader scam where the cabbie would hold my luggage hostage while I went to an ATM; I've been mugged in a more polite manner when on foot.
I don't condone flagrant lawbreaking but just because government cartels could innovate doesn't mean they had any incentive to do so; Uber forced their hands and now the Black Cab experience has improved dramatically. There was no real mechanism for changing incentives beyond breaking the law due to captured interests.
If you wanted a different example of regulatory arbitrage leading to better outcomes for the few at the cost of the commons I think AirBnB is a better poster child.
This is all a bit of a distraction from the broader point with which I mostly agree.
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Sagrilarus wrote:
sornars wrote: ...
The one thing I will point out is that every Uber and Lyft ride ever delivered was at a loss to the company. Their prices are reasonable because of their angel investors, not because they've come up with a better system. Were they to be on the hook to provide liability insurance for commercial driving (which all Uber and Lyft drivers are, though none of them get it) they would be even more expensive. Uber and Lyft would be a mess if others weren't eating their costs.
When the angel-investor money runs dry (which logic would tell you it has to eventually, but that's not how Silicon Valley stuff works apparently) their prices will likely be much higher than cabs. Or they'll evaporate.
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There was a man in Spain who owned tens of thousands of taxi licenses. One day he sold them all, despite being highly profitable and hard to obtain. Instead, he invested his money in licenses for "rental cars with drivers" that had very few uses. Completely normal stuff. A bit later the law was slighty changed so that these new licenses could be used for Uber and Cabify and he became even richer. How unexpected.Msample wrote: One is that the vast majority of yellow cab drivers in recent decades were not owner operators but leased their cabs from investor groups/owners who bought the medallions required to operate as a cab.
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Re: Kickstarter blockchain announcement - I received an interesting email laying out what may be behind this. Autho… twitter.com/i/web/status/1…
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sornars wrote: Uber has now focused aggressively on profitability and the cost of rides has increased to the point where the difference between an Uber and a Black Cab is often negligible; however, I still get the reap benefits of all of the other things across multiple services, including regular taxis. This price rise has also been exacerbated by the pandemic, which has made it much harder to find a driver but the changes they have introduced are mostly here to stay.
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