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April 12, 2019 06:51 pm

Uber Reveals One of Its Big Vulnerabilities

One-quarter of its business happens in just five cities; 15 percent of bookings happen on airport trips. From a report: About 24 percent of Uber's bookings -- all the money that customers pay through the app and in cash, including driver earnings -- occur in just five cities: New York, Los Angeles, San Francisco, London, and Sao Paulo. For a company that operates in more than 700 cities, including quite a few giants -- Mexico City, Tokyo, Paris, Lagos, Hong Kong, Seoul, and Mumbai, to name a few -- that concentration gives Uber a surprising vulnerability at the local level. And they know it. This vulnerability casts a new light on, for example, Uber's 2015 humiliation of New York City Mayor Bill de Blasio, when the company fought off the City Council's proposed vehicle cap. That was a warning to other politicians, and a show of power, but it was also a vital business move. The company's filing also mentions, as a cautionary tale, what happened afterward: Just three years later, the City Council approved minimum rates for drivers and a cap on the number of new ride-hail vehicles. The company also mentions its regulatory challenges in London and San Francisco.

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