Sure, as I said they have a potential edge in service and people who frequently travel to new places. My point was just that it’s not a very big edge: most people are not traveling to new places all of the time and if there’s a big savings they’ll switch. That doesn’t mean that Uber is doomed, just that they’re not a Google/Facebook money printing machine where local competitors can pop up easily.

I’m not expecting anything like evaporating, only that things like their share price and compensation are more like a tech company than a taxi company but they don’t have a strong moat. There’s interest around things like self-driving taxis, but they don’t own the technology so it won’t open up extra margins.

Most individual share prices is buoyed by continuous pumping from 401ks and the like buying into funds, not on the fundamentals of the companies in question.