I can't really say whether drivers incomes are at at tipping point, but my thesis is that the aggressive entry of more ridesharing companies has to continue the revenue decline in the medium term and will not abate.
I think if you get some adverts on TV for any of these ridesharing groups and it will accelerate and pull in fence sitters to give it a go (if they were smart marketers).
There are a lot of industries in parallel with CAB with regard to 'disruptive impacts' from new tech. As an example, I believe in 20 years it will be frowned upon to be owning a petrol car ( like smoking a cigarette ) and I believe it is wishful thinking that the CAB model has a future based on their expensive, dated and entrenched business model and higher friction travel experience.
Time will tell of course
CAB Price at posting:
$2.17 Sentiment: Sell Disclosure: Held
