The city of London recently revoked Uber’s license to operate in the city. Though Uber will appeal this decision, it seems to be a win for other cab companies whose businesses have taken a blow since Uber stormed the market.
Anytime a major decision involving a Goliath of a company like Uber is made, people tend to lean toward political motives. But as NYU Business Professor Scott Galloway addresses, perhaps it’s more of a shot at big tech companies rather than a politically driven campaign.
“The worm has turned against big tech,” Galloway said during an interview with Bloomberg’s Scarlet Fu and Julia Chatterley on Bloomberg Markets.
Uber currently operates in over 600 cities worldwide, and has even sprouted popular subsidiaries like UberEATS and Otto. But, as Galloway points out, there appears to be a notion that these larger tech companies get some sort of hall pass that allows them to play by a different set of rules.
“People are fed up [with big tech companies].”
