[adamqureshi]

Back in the day my cousin was driving yellow cab in NYC. He would work 6/7 days a week 12 hour shifts. He eventually took our a mortgage ( loan) to buy a yellow cab medallion. Cost was like $1M. And BAM! uber came on the scene and the value for his medallion DROPPED. X 10k yellow cab drivers and those who bought medallions with a ridiculous loan. What did uBER do? that was so innovating? they simply put guys like my cousin OUT OF BUSINESS and underwater on their loans. WOW. Poor guy worked 20 years driving yellow cab and thought he would have a future buying medallions. Technology should enable rather than destroy people or slice up an industry to squeeze the lifers who've been in that industry their whole lives. Thats just 1 story of what happened in NYC when uber came on the scene. May not apply to ALL start ups i don't know. 2-cents.

[autotech]

Indeed, one of the things Uber disrupted was many lifelong taxi owner-operator’s retirement plans. An NYC taxi medallion was a valuable asset. It was a promise for exclusive market access. Giant $1M loans were taken out to pay for this privilege. NYC just turned around and gave it all away to Uber. When the value of NYC taxi medallions fell, while Uber was heavily subsidizing fares, small business owners were going bankrupt. Several people committed suicide. Real people lost their livelihoods while Kalinick and his buddies congratulated each other.

[adamqureshi]

Showtime made a show about uber" Super Pumped" on showtime rigth now. Apple made a movie about We Work ( Adam neuman). HULU made a show about Elizabeth Holms. "Theranos". Nobody made a movie about yellow taxi cab drivers who lost it all when their medallions went to the SH*T house after uBER decimation to the yellow cab medallion industry in NYC.