Uber is a transportation network company that offers ride-sharing, taxi, and food delivery services through a mobile app. Founded in 2009, Uber grew rapidly but faced scandals and leadership changes that slowed its growth. It is now letting go of over half a billion potential riders in Southeast Asia by selling its operations there to Grab and taking a large stake in the rival company, in an effort to recover from $4.5 billion in losses last year. This could give Grab an advantage over its rival Go-Jek in the region by acquiring UberEats.

1. What is Uber?
● Transportation network company
○ Ride-sharing
○ Taxi service
○ Food delivery
○ Used with a mobile app
● Founded in 2009 in San Francisco
● Popular bc young people see less of a need to buy cars and people don’t like having cars
in cities
● Faced scandals with sexual assault allegations
● Former CEO Travis Kalanick replaced with Dara Khosrowshahi
● Company is still growing, but not as much as initially projected
● People are now starting to use rival Lyft
Grab Gaining Monopoly over SEA
● Uber is letting go of 640 million potential riders
● Take a 27.5 % stake in grab as part of deal
○ Stake = % of a business owned by the holder of some number of shares of stock
in that company
● "It will help us double down on our plans for growth as we invest heavily in our products
and technology," Uber CEO Dara Khosrowshahi said in a statement.
● Basically Uber’s way of trying to come back from $4.5 billion lost last year
● Grab now has an advantage over it’s rival Go-Jek because it has UberEats now
Is it better for consumers to have variety in an industry or have one corporation
monopolizing it all?