Uber and Lyft are Capitalist Shams

Uber and Lyft's business model is a capitalist sham.

The term late capitalism or late stage capitalism is commonly used to describe “the hypocrisy and absurdities of capitalism as it digs its own grave”, and refers to “people's frustration with the "indignities and absurdities of our contemporary economy," such as increasing inequality, the shrinking middle class, and the rise of super powerful corporations.

There is perhaps no better example of late-stage capitalism than these two behemoths of the ride-sharing industry. The business model of Uber, led by Dara Khosrowshahi, and Lyft, led by CEO Logan Green, relies on the exploitation of underpaid contractors (aka the drivers), and massive multi-billion dollar investments from venture capital firms with no real path toward profitability.

#Uber #Lyft #LateStageCapitalism

0:00 Introduction
0:31 What is Late-Stage Capitalism
1:17 Exploitation of Drivers
1:58 Why Uber and Lyft's Business Model is a Sham
5:06 Impact on the Future of Our Society

51/49 with James Li - Commentary on business, politics, and the other things (from an independent perspective)

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