http://money.cnn.com/2017/06/01/technology/business/uber-losses-investors/index.html
Wait, in this narrative, who’s making the profit??
It’s a tactic where you underprice competitors in order to drive them out of business. You lose money right up until you steal their whole client base and they’re forced to shut down. Once you’ve eliminated the competition, you’re free to hike up prices obscenely high. This is how Amazon destroyed traditional bookstores.
Pretty sure Standard Oil did the same thing too
Walmart does this in small towns
Yes this is a capitalist tactic used by many companies, including Amazon, Standard Oil, and Walmart.
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