Regulatory subventions

Pluralistic: 02 Jun 2021 – Pluralistic: Daily links from Cory Doctorow

Uber’s main project has always been regulatory, not technological: that’s why it funneled hundreds of millions of dollars into passing California’s Proposition 22, a law that legalized worker misclassification and banned unionization.

The irony? Uber is a “bezzle” – JK Galbraith’s name for “the magic interval when a confidence trickster knows he has the money he has appropriated but the victim does not yet understand that he has lost it.” Uber is a scam and it will never be profitable.