In a page right out of Amazon's playbook, the management of Uber has found that the best use of proceeds now that it may have finally saturated addressable markets, is to use its cash on hand to fund sub-equilibrium pricing losses and in the process, hopefully, put its competition out of business.
Earlier today, the Uber blog announced that UberX is "now cheaper than a New York City taxi." It added the following:
We just dropped uberX fares by 20%, making it cheaper than a New York City taxi. From Brooklyn to the Bronx, and everywhere in between, uberX is now the most affordable ride in the city.