Uber Is Worth More Than GM And Ford
Start writing a post

Uber is entirely operated by an application on our cell phones. It is a private company that could be valued at $70 billion. This is significant because it is almost quadruple what the company was worth last August. If the company is truly valued this high, it is valued at a greater amount than both Ford and General Motors.

Uber employs drivers who use their own car to perform a service similar to that of a taxi. Not only does Uber provide rides at the push of a button, but also the company ensures safety as well as estimating a fare that will be requested and paid all on the app. This application has been so successful due to the fact that many bar and party-goers rely upon Uber to get them home safely, and without the worry of driving when they shouldn’t be. Uber also screens their drivers through background checks. The private company operates in 300 cities and 63 countries.

By providing safe, sober drivers at the touch of a finger, Uber offers a convenient and positive service. People that should not be driving do not have to, and those who are driving safely are at a less risk to get hit by a driver under the influence because those people are nestled in the back of an Uber car. It could also positively effect the environment if Uber could implement economically friendly cars and everyone carpooled through Uber.

The car market may experience a decline in sales and value, but it could be a good thing. Although Detroit saw this type of decline in the economy many years ago, and has had nothing but a negative effect on Michigan’s economy, the economy in general may experience a boost because the only requirements to be an Uber driver are to own a car and pass a background check. So, those who are unable to find a job may be more successful in this business; considering all they have to do is drive around, these jobs are easier to keep. Unemployment levels may decrease if people in large cities used this form of transportation and those in more rural areas still appealed to the car market. I think those in cities would benefit most from this because many cities are bunched together, and there is usually limited or expensive parking in the area. The cost of rides to and from places that are closer together will be significantly cheaper than that of areas that are more spread out. Due to the unfortunate fact that drunk driving, or driving under the influence, is still occurring, Uber provides everyone on the road with a positive externality because this way, there are less accidents and hopefully less drunk driving. This will make everyone more safe.

Uber’s $70 billion value, estimated by the New York Times, is important especially considering that it is higher than American car companies. Companies can save money by utilizing Uber, as well. The company has a "Business" tab on their website. This tab has a bar graph which describes that their service is 40 percent cheaper than a regular taxi.

Safe rides are very important to the entire community. Uber provides these by ensuring insurance and car inspection, as well as a background check. Overall, Uber is cost effective and provides benefits to everyone in the area it's being used in.

Report this Content
This article has not been reviewed by Odyssey HQ and solely reflects the ideas and opinions of the creator.
Featured

Sometimes I Prefer The World A Bit Blurry

Ignorance is actually pretty bliss...

11870
Photo by JERRYANG on Flickr

I have been wearing glasses since I was seven years old. When I was young, I loved wearing my glasses. Noticing each individual leaf on a tree or the distinct smile lines on my mother's face was an absolute dream. Now I prefer to take off my glasses at times, despite being considered legally blind. Twinkle lights glow brighter when blurred. It is easier to ignore the graying hairs when viewed in a softer light. All in all, the famous cliche "ignorance is bliss" couldn't be truer.

Keep Reading... Show less
Olivia White

"The American flag does not fly because the wind moves it. It flies from the last breath of each solider who died protecting it."

Keep Reading... Show less
Featured

Separation Anxiety in Pets

Separation anxiety in pets is a real thing and recognizing the warning signs is important.

490892

Since March, Covid-19 required most of the world to quarantine in their homes. Majority of people ended up working from home for nearly five months. This meant pet owners were constantly with their pets giving them attention, playing with them, letting them out etc. Therefore, when the world slowly started to open up again and pet owners began returning to normal life work schedules away from the home, pet owners noticed a difference in the way their pet acted. Many pets develop separation anxiety especially during this crazy time when majority people were stuck inside barely leaving the house.

Keep Reading... Show less
Featured

The invention of photography

The history of photography is the recount of inventions, scientific discoveries and technical improvements that allowed human beings to capture an image on a photosensitive surface for the first time, using light and certain chemical elements that react with it.

468953

The history of photography is the recount of inventions, scientific discoveries and technical improvements that allowed human beings to capture an image on a photosensitive surface for the first time, using light and certain chemical elements that react with it.

Keep Reading... Show less
Facebook Comments