Uber Worth $50 Billion, Leaves Doubters in the Dust

Uber is now worth $50 billion

What happened to the California ruling that was supposed to be the demise of Uber? It was way overblown, the pertinent details ignored in the leftist anti-Uber cacophony. Obviously, Uber can’t make every driver an employee, and no judge would ever decree that they do so. What if someone only drives four hours a month? Making every Uber driver an employee would mean far fewer drivers and less convenience, since Uber would have to terminate everyone who doesn’t drive enough to be profitable under the new regulations. That’s the modus operandi of the left: they see a capitalism success story (Walmart, Facebook, Google, Uber, or Microsoft, for example) and attack it by imposing regulation that results in less hiring. Then they complain about the labor market being weak, low wages, outsourcing, or the proliferation of ‘gig jobs’.

Next stop: $100 billion and then IPO.