Why? According to Bloomberg:
After touting profitability in the U.S. early this year, the ride-hailing company is said to post second-quarter losses exceeding $100 million.
A main source of the losses: subsidizing Uber drivers. As Christopher Mims commented on Twitter, “So Uber is a giant machine for transferring wealth from venture capitalists to underemployed Americans”. This is both clever and something that can’t go on indefinitely. It makes clearer to me now why Uber is keen to make self driving cars work. Sure, Uber could charge more for cabs or pay cab drivers less, but in either case, they risk losing market share.
The losses this quarter certainly are an inflection point. It remains to be see if it is a crisis point. That will depend on how the VCs see this loss. I believe they will have patience and they haven’t reached a crisis point yet. Uber should hope that their investors have the same patience that Amazon’s investors have.
For the rest of the story, see: Uber Loses at Least $1.2 Billion in First Half of 2016 – Bloomberg (Image above via the Bloomberg article)
Minimalism is a foreign concept to some Westerners, especially as it is practiced in parts of Japan. Indeed, this line:
Fumio Sasaki’s one-room Tokyo apartment is so stark friends liken it to an interrogation room. He owns three shirts, four pairs of trousers, four pairs of socks and a meagre scattering of various other items.
You see “interrogation room” and “meagre”, which gives you some insight into how this writer sees it. The article which this comes from (and which is linked to below) does get more insightful and you gain a better insight into Japanese minimalism, from its cultural roots to its practicality (such as the real problem of how earthquakes make home objects dangerous).
Minimalism seems to be growing as a cultural concept throughout the world, and it’s good to know more about it, how the Japanese see it, and to think about how it should differ in Western cultures. To do that, see:
Three shirts, four pairs of trousers: meet Japan’s ‘hardcore’ minimalists in The Guardian
Then you want to read these two really good pieces on why it is brutally tough to get tickets to an event without paying a fortune:
What it comes down to is a very limited supply and a very high demand. But that’s obvious. Read the pieces to see just how it really plays out.
If you are interested in books and ebooks in particular, you should read this: On the declining ebook reading experience. Two beliefs I have on this topic:
- Book sellers have become more competitive. In Canada, Indigo’s prices seem to be much lower and they sell books using low prices stamped prominently on the cover.
- He doesn’t say it, but the author hints that Apple should step in and make their own Kindle. I certainly would like to see Apple step up and make their own Kindle. The device and the user experience would be great, I am certain. It would blow the Kindle out of the water and likely make me switch over to becoming a bigger ebook reader.
Grass died today. To read most of the pieces on him, you’d have a hard time imagining he was a great writer. So read this instead: The Greatness of Günter Grass in The New Yorker. It’s by another great writer, Salman Rushdie. It makes you appreciate the greatness of Grass.
I was in my local grocery store some time ago, and two of the produce staffers were talking about herbs. One of them commented that while tarragon did well and basil sold out, marjoram did not do so well and they might not stock it anymore.
I thought about this and did some random research. I found that while some of my older recipes had it as an ingredient, I don’t see it featured as much any more. (Same goes for paprika, which used to be used alot it seems, though seldom now, save in Martha Stewart’s recipes). Now it seems there is more focus on newer herbs and spices or “sweeter” herbs like basil.
It’s a shame, since marjoram is a very versatile herb. It’s less ‘sweet’ than basil or tarragon, but that makes it great in such things as an omelet. So now, several times a month, I’ll make an omelet with sauteed shallots, grated emmental cheese and some marjoram sprinkled in. Delicious.
(great photo of marjoram from Jade Craven’s photostream at flickr.com)
You can see it here: LIFE photo archive hosted by Google. (Thanks to kottke.org for the notice!)
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