Uber is pulling out of Singapore, Indonesia, the Philippines, Malaysia, Thailand, Vietnam, Myanmar, and Cambodia. According to Bloomberg, this represents a region of 620 million people. The deal includes the operation of UberEats.
Source: arstechnica.com
A recurring theme among ride-hailing executives from the likes of Lyft and Uber is that their platforms will help reduce congestion in the world’s most populous cities. However, anyone actually living in these places will tell you it doesn’t appear to be working. Cities like New York were already clogged with taxi cabs but, instead of seeing all of these drivers buy personal vehicles to enlist as independent contractors for ride-hailing firms, Uber and Lyft brought in new drivers, more vehicles, and fresh competition.
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