Uber’s business model is incredibly simple: It’s a platform that facilitates exchanges between people. And Uber’s been incredibly successful at it, almost eliminating the transaction costs of doing business in everything from shuttling people around town to delivering food.
This is one of the reasons Uber will soon be among the most valuable companies in the world after its shares began trading on the New York Stock Exchange on May 10.
Yet its expected $82.4 billion market capitalization may pale in comparison to the wealth of user data it’s accumulating. If you use Uber – or perhaps even if you don’t – it knows a treasure trove of data about you, including your location, gender, spending history, contacts, phone battery level and even whether you’re on the way home from a one-night stand. It may soon know whether you’re drunk or not. Read more…
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