It was fascinating to read the book of Mike Isaac on Uber and its former CEO Travis Kalanick. Many people see Uber as the most successful start-up in Silicon Valley. But Uber never made any profit and the loss in III/2019 has been US$ 4,6 billion. Every time the Board tells the financial world “profits will come in the near future”.
End of September 2019 the office-space company WeWork announced that it was postponing its initial public offering (IPO). The same day the reaction was a sharp decline of market value from US$ 47 to US$ 20 billion.
The digital revolution is underway with the biggest hotel chain Airbnb that doesn’t even own a single hotel room, and Uber, the biggest taxi-company that doesn’t even own a single car. The value-chain as we know it will change and be replaced by service-offering systems. This has already happened with the telecom, travel and music sectors. During the next 10 years some 70% of jobs will disappear!