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#VideoBytes:
https://photos.app.goo.gl/azhTpgUTxowZgD7cA
Uber finally make a profit. They have introduced the Uber money, trying to be a bank for its drivers. https://www.pymnts.com/news/payments-innovation/2019/uber-money-wants-to-be-the-bank-account-for-uber-drivers/ to encourage drivers and passengers to reduce the $6.5 billion of cash that Uber handle globally and go digital. The FT suggested an interesting idea that if Uber replaced their drivers (which account for up to 80% of the costs) they could become even more profitable. If they created Fleet Car Investment Trusts (FLEITS) similar to REITS in the property market these could help pay for the 3 million cars that Uber currently rely on servicing 900 cities in 85 countries (https://uberestimator.com/cities). Passengers may be encouraged to invest in FLEITS and then get a discount on their taxi rides. If this happens how long before we then see the Uber coin to pay for journeys and maybe even financing driverless cars?
