How many tech companies, specifically social media companies, are worth far less than they're touted to? I can easily live without Facebook, Twitter, TikTok, Uber... the list is endless. In fact, I don't use any of the most popular tech products on the market. And investors are starting to realize that overinflated numbers mean little. You have a billion users? How many regularly use your product? 10%?
Even Google and Amazon are starting to face reality.
> I don't use any of the most popular tech products on the market
that's a very compelling dataset size of 1.
uber, for one, publishes number of its users and rides, and in 2021 it was about 100 million active users who did a few billion rides. For a public company that delivers a physical service, kind of hard to fudge that.
Uber has an edge here. Decades of regulatory coddling made taxi industry suck so hard that any alternative that sucks less is welcome. I don't care about their business model, but if I need to get point A -> point B, and they can do it with the least inconvenience for me - they get my business. But not all industries have such amounts of accumulated suckage.
Most things most people search on the internet go through Google, who gets to show them ads. They do the same on YouTube. You're joking if you think Google is in any trouble.
Even Google and Amazon are starting to face reality.