As noted earlier this week, Uber’s massive investment in national and local lobbying and regulatory contests is unwinding before our eyes. The company must grow out of its bro culture or its logistical platform will become just an asset to be sold off.
London’s transportation agency dealt a huge blow to Uber on Friday, declining to renew the ride-hailing service’s license to operate in its largest European market.
The decision is the latest setback for a company that has upended public transportation across much of the world by using smartphones to connect drivers with passengers. That success has helped it grow into a behemoth worth around $70 billion.