this post was submitted on 12 May 2024
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Sure, but AirBnB and Uber didn't improve the hotel and taxi markets, they just joined them. They each took advantage of a tech debt and then lowered the barriers for entry to the market. In doing so, they made a shit ton of money by carving out market share from the fucked up systems you described.
Also by doing and end run around regulations by pretending to be people just renting their house when they are away or giving rides to people going in the same directions. That is why they have names like 'ride share' instead of 'contracted cabbies who drive their own cars'.
Seriously? Not sure about airbnb since I use booking, but Uber was so much better than cabs it wasn't even close. They didn't even make that much money. They lost money last quarter