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I can’t remember where I was—perhaps sitting in the back of a taxi cab—when I read a tweet from Anti-Fragility author Nassim Taleb that said, “To ‘Uberize’, remove the middleman, theme of the times.”
— Nassim NicholنTaleb (@nntaleb) December 17, 2014
The thought struck me again this last week as I tried to find something out of CES in Las Vegas more interesting than a selfie stick. The energy and excitement, not to mention the valuations, in the economy lie in companies that ‘uberize.’ Even though those companies no longer make anything material, what they do seemed to follow a classic formula, an investing thesis that came out of the first generation of hyper valuation that took place in the 1990s.
I don’t think of Uber as a force that dis-intermediates—as we olds used to say—transportation, but one that creates value for itself, its drivers, and its users, by developing a new layer that integrates them all with maximum utility.