YouSaid · the spoken record

Brad Stone

lines on the record: 148
first: 2017-02-20
most recent: 2017-02-20
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“I sort of had this big Well, it's interesting because I literally bought something I could have gotten at the Walmart Walgreens down the street. And I was like, what am I doing? I almost bought toilet paper and I said, no, I shall not. I shall hold out for that. I will walk home with my giant thing of toilet paper.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“And you know what? It's better. I mean, maybe it's less expensive. I sort of had this big thing about the boxes. Yeah, and the trash for sure. But you have this vague idea that it's less expensive. It may not even be, but it's just convenient. And then you start to get impatient with even standing in line somewhere.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“He might do that. And so, yeah, I think that unless you're in Nordstroms or a Costco and have something differentiated in retail, you go away. I don't see how you compete with Amazon. And the ingeniousness of Prime and the way it locks you into their ecosystem. And look, all you need to do to predict the future of Amazon is to get a prime customer to open up their Amazon account and to look at the spend over annual spend. It's more and more.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“I think if we're getting into irresponsible predictions, I say it's Amazon that becomes the biggest company in the world one day and is maybe the first to a trillion dollar market cap because every new fulfillment center, every time they get closer to customer, it's not like Apple where they have to reinvent that the next year to compete. It's just in progress. So in a newsletter, I called it the flywheel of doom. Because they get closer. It's shorter delivery. There's more variety for people in terms of instant delivery.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“Immediately, it's a little like Nord Stream, you know, the, and I remember thinking in Seattle when I first met Jeff when he had like five employees or something small like that. He talked about Nordstrom, which was a big at the time was a very iconic, I was there to see Nordstrom when I was also there to see him. And so it was an interesting. Teaching that both from Seattle in a weird way. So, where do they go?”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“But it really is the everything company right now. And despite the criticism of the culture and, you know, the New York Times said that famous piece and I, you know, and I get into it a little bit in the book, how it's a thankless culture and people burn out and the average tenure is short. Sometimes people don't have nice things to say. And all that's true, but you have to, there's something about it that has yielded a kind of decentralized innovation. Please.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“Well, since the Everything Story came out, I think the market cap of Amazon is up by a factor of three. You know, I'd like to say I predicted all that.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“It's really amazing. It feels like Amazon's everywhere. As you know, the Echo is my favorite thing of all time right now for this week. Talk a little bit about them and then where things are going in Silicon Valley in general, because I think you have a unique perspective on that.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“It does, and so it's easy to make that mistake. I would do friggin' old when I was 22 for sharing cars, but I get them. Some people love it. They want to flirt and date. I just really want to be left alone and not speak.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“I was by accident got in an Uber pool once and I literally wanted to kill myself. And unfortunately in San Francisco, it was like stopping at startups and people do, like they know you, right? So they're pitching.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“I think it seems natural perhaps that GM might one day buy them. And we might look at this year as just a protracted negotiation between Lyft and one of its larger shareholders, GM. But Lyft, it's funny. It's not that differentiated for Uber, but they have in people's minds kind of created a different brand for themselves.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, identified that. Look, I mean, people have been predicting Lis's death, you know, from the very beginning. And I think it goes back to what we were saying before about certain services, as long as they're good enough. You can't outspend someone or into oblivion. And I guess an Uber board member might say that Lyft's existence is just a reflection of this capital environment and the fact that capital is so... So easy to get, and Lyft has been able to raise money and do irrational things. But, you know, Lyft says it's on a path to profitability. I think it says something about the market that it might not be a winner-take-all. And that is a problem for the Uber.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“It's not bad for Uber to have it. It's amazing how Travis, you might never admit this, but I think he got a lot of his idealism and some of Uber's mission from listening to John and Logan Green, the CEO of Lyft. They were talking about the empty seats and cars and highways and crashes. And they truly believe.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“And lift. What are Lyft's possibilities? It was interesting. I was at a dinner for Jeff Zucker. He wanted to meet some Silicon Valley people and I had like Dick Costlow there and John Zimmer came over and he was like, you know, Kara, this was early. He goes, think about it. A car is 80% empty. And that's just bad for the environment, because one person's in it. There's five seats or whatever. Anyway, he's like, we're here to help the humanity and And he walks away, and Dick Lasso turns to Easton, and he goes, Travis is gonna fuck with that guy all day long. He's dead. Like dead meat because he was so nice and so earnest. But talk about Lyft because they managed to hold on. It's not bad for Uber to have. It's amazing how.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“And yeah, Andreessen Horowitz, not only did they not see the extent of the Uber opportunity back then, and few people did, but I think they also, you know, they misjudged Travis and he didn't fit. He didn't look like a Mark Zuckerberger or Larry Page. He's pugilistic. He probably doesn't make all that great impression the first time he's presenting to them. And so, yeah, not only did they lowball him, they tried to put in a big option pool and at the last minute he pulled out. And it probably goes down to one of the biggest misses in Silicon Valley history. And Dreason Horowitz was founded on the idea that it would get, yeah, and it would get the big hits every year.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, I mean, I think the connection between the missed opportunity between Andreas and Horowitz and Uber is interesting. I mean, they misjudge Travis, right? He is someone who from the very beginning, almost the beginning, right, when he became CEO, saw what a huge opportunity he had.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, it was a big mistake. And then Sherban Peshavar. No, now he's enjoying the fruits of that. You know, what's interesting about that is the idea Of doing your own fate with venture capitalists, like that pushing back on them. And I think a lot of these times, a lot of these entrepreneurs are in control. Can you talk about that?”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“Well, I've just to fuck with them. I've got that scene in the book, and there was a dinner with John O'Farrell at Andreesen Horowitz and Emile and Travis. And John Zimmer from Lyft. And Lyft wanted a larger percentage of Uber than Travis was ever going to.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“Choc Yeah, exactly. And there's one other. Let me just summarize one other episode from the book, which is this is at a time when Airbnb is considering an expansion into other markets. This is years ago. And it seems like they might have looked at actually acquiring Lyft. And Travis barges into the battery, this club in San Francisco, and walks up to Brian and says, I hear you're going to buy Lyft. And Brian denies it and says, no, no, it's not our business. Our business is trips. And Travis says, our business is trips.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“In the years following their first meeting in New York, Brian Chusky and Travis Kallenick struck up a sporadic friendship. A few times a year they would go out to dinner in San Francisco, first by themselves, then with other entrepreneurs or with their girlfriends to discuss their company's twin successes and their common experiences battling regulators and lawmakers. Quote, I think we learned a lot by watching each other, Chesky says. There are only so many people in the world that can relate to who share your position. Employees of both Airbnb and Uber remember these dinners well. Since one Airbnb exec who is also close to Uber employees, quote, Brian would come back saying we have to be tougher, and Travis would come back saying we have to be nicer.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“I don't know if this is a similar, it's more like these stories are intertwined in my book. And these guys learned a lot from each other. Sure.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, it sounds like a great idea. Yeah. And, you know, there's a mission behind it that I kind of buy into. Which is that a lot of travel experiences today are corporatized. We go to Mexico and we say in a resort with a bunch of other Americans, then are we really experiencing the country? Are we getting served something artificial and paying a lot for it? I think that is what the travel industry has become. So if they can come in and enforce create experiences that do seem authentic and it's people serving people in that company serving people, then I think there's a great opportunity.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“I do not want to go collect some mushrooms. Yeah, the idea is Airbnb is a platform to find logic, and they're going to offer you more on a trip. Tours and meals, restaurant reservations, and maybe one day book your flight for you. And so, yeah, it's got a great foothold in the enormous travel industry. And this is that kind of horizontal expansion.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“Right. I'm sure there are some disclaimers there in their profitability. But they've got a professional CTO right now. And it does feel like they're laying the groundwork. They've got some regulatory questions to sort out for sure. And then this expansion into TRIPS, which is a great idea.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“Absolutely. So talk a little bit about where they go from here. Because again, they also didn't do themselves any favors when they put up those ads and said, we're paying taxes. You're welcome. I'm like, I'm sorry, I pay taxes. I don't ask for you. You're welcome, but you can give me one. Yeah. As they're starting to expand and going public this year, as you're saying, what are their challenges?”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“It is to give them an authentic experience. And as a traveler, I love it and enjoying our quiet neighborhood. I don't necessarily want it to be overrun with tourists. So even though you could add another factor, they do bring a lot of economic activity. Sure, absolutely.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“Contributing factor, probably a smaller one, but genuine, you know, a genuine nuisance sometimes for people in communities that don't, you know, that live in residential communities. Like I always say that it's great that we have fishermen's wharf in San Francisco because it takes all the tourists and gets them out of our community for a little simulation in San Francisco. And the promise of Airbnb is...”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“It is a very real problem, but I don't think Airbnb has caused the housing shortage in San Francisco. Right, but it's just another. It's a breaking down.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“They are. And, you know, and a lot of it's emotional. Housing is an emotional issue. Yes, in the city certainly. We'll use it as a weapon when it's tied up in inequality. And of course, there's an inequality.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“It doesn't seem Well, no. Cheap and applicable. What they're doing is they're identifying a number of nights where it's going to be suitable. So let's say I think in San Francisco now you can only host for 90 nights a year. And the city council tried to move it to 60 and that got vetoed.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“runs their policy department. I think Airbnb has a lot of work to do to find an equilibrium with cities and they've had successes in some cities where”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“I mean, just full disclosure. I use Airbnb all the time, too. Next week, I'm staying at an Airbnb in Brooklyn as I launch the book. But at the same time, yeah, if I had tourists going into and out of my neighbor's home at 2 in the morning, I wouldn't like that. And so I actually think that you've identified why Uber seems to be having fewer regulatory problems now. It's kind of at least on ride sharing has gotten critical velocity in North America. And Airbnb seems to be having more problems. It kind of flew under the radar. But in some of these dense cities, which now just has a general problem with housing stock, where rents are high, we're seeing big pushbacks and New York City, where they've been losing battles, but you've got little towns on the coast like Laguna Beach, where it's basically illegal. And I think I do think that Chris Lahaine now.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“Right, exactly. And so you start to think do I really want my neighbors to do it? But I don't have control. And on the other side, I'm like, well, people can make extra money on the side. It's really good. And then I think, oh, there's enough rent in San Francisco. It definitely creates a lot of, like, more than most businesses, you know, especially in San Francisco, rents are so high, you know, that it does sort of force rental properties off the market, although the San Francisco rules are horrible around rentals. So it's a fascinating thing because you like this product, same thing with Uber, and you have issues with them. You start to go that you don't have maybe with, maybe you should have with other businesses.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“Felt the law was unjust. So, what do you talk a little bit about? I mean, everyone tries to celebrate it as the best thing ever, and it is, I use it all the time. Another thing I use all the time. But you do when you use it, start to think about not to the inbuckette hotels, because I could care less about it. They either get better or cheaper or something. I'm not really worried about them as much, although I do think about the workers and things like that. I'm more people in a neighborhood where you're in a building and there's people you don't know who they are. There is an element of this is not so safe.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“We can't do it. It's too hard. But really, they didn't want to slow down. I mean, Airbnb, unlike Uber took advantage of some regulatory ambiguity, Airbnb in New York City was always illegal. Like there is a law that's not, you know, that's not really meant to address home sharing. It was more about the big illegal hoteliers that were popping up and taking advantage of European tourists and whatnot. But the laws were there. And Airbnb, you could not rent your home if you weren't there for less than 30 days. And Airbnb, it had a big market there, big community. It didn't want to stop that. It felt the law was unjust, which it might have been. But nevertheless, they were all systems go. And I talk about some of the people, the hosts who get evicted or there are some that like get sued by the city and have two years of legal drama.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“All content's at the same time. Crime. It's also not really true. I mean, hotels have to conform with a lot of regulations. They need to put carbon monoxide monitors in CO2 monitors in hallways and rooms. And there were Airbnbs that did not have that. And, you know, Airbnb early on did not do a great job of warning its hosts what their obligations were vis- ⁇-vis safety or local regulations. And, you know, they didn't want to because they didn't want to slow down the growth of their supply.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“But his point was that the things that hotels are attacking him about have been happening at hotels, like all kinds at the same time. You know, crime, death, orgies, whatever it was. But I was like, people aren't think of hotels like that. And it's also not.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“Accountability Right, which is interesting, which is funny because I'll never forget during that time I did an interview with him at some random event. And I think the orgy thing was coming out. Someone had an orgy in someone's apartment or condoms every year. Is that wrong? I live in San Francisco. It's just fine. But I remember him going.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“Right, and the owner starts blogging about it. And right, they handled that pretty poorly. I mean, it's funny the similarities with Uber, but the first thing that they did perhaps persuaded by their legal counsel is to try to evade accountability. And the internet community just wasn't going to let them get away with it. And Brian, to his credit, you know, pivoted fairly quickly and came back and did something that he does now. We see what the questions around African Americans and minorities being discriminated against on Airbnb. They're fairly good at just accepting responsibility and pledging they're going to do better and talking to their community in a sympathetic way.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“Which is sort of a rite of passage, right? Right. And then, yeah, and then an apartment in the East Bay gets trashed. And the owner”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“Well, right, the election did the conventions, as you mentioned. They went to Obama's inauguration. And then they start to get some traction. And immediately two things happened. The Samwar brothers cloned them.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“Well, the first thing is that there were people already doing this. There was a site called couch surfing. The name is even similar to Airbnb, but they made a huge error, which was they were registered as a nonprofit, and they were extremely idealistic. And it wasn't a great experience. And the one thing that Airbnb had was Brian and Joe were designers, and they did a great job. They also had Nate Blachersik, who is the CTO, who I describe his history as a high schooler at Harvard as”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“Absolutely. And they've had their ups and downs there. We'll get into that in a minute. I remember meeting them when they first started, the three or four founders, I think there were four at the time at a coffee shop down in Soma. And they just had some success with one of the conventions or something like that and had really just started it. And it seemed, it was one of those things, I remember thinking it's a really good idea. Like that's a really interesting idea. And I think their big challenge was getting people to have people in their house and think of that differently, which I thought was, and I thought young people probably would do this kind of thing. But it was definitely a different tone and tonality, even though they immediately got into big trouble with a lot of things. Remember the, I guess there was the orgies, there was the, you know, all kinds of, you know, the people wrecking the apartment and all kinds of anger by rental advocates, rent advocates in cities that soon became a real problem for them. And they didn't really know how to react to it initially. So talk a little bit about that when they started.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“She literally couldn't be nicer. But I would say that one of the themes of this book is that they're not so different, that they have bended the rules. And push forward aggressively where they needed to. He's a every bit the entrepreneurist Travis. And yes, he does a much, I mean, Airbnb's game is strong, right? They have created a mystique around what Craigslist was doing 20 years ago. There's an evangelism and a spirit that you might find. Almost in some religions, right? And I think that's been useful to them to create a bond with their community and to enlist political support in the places where they've needed it.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“If you keep pointing out my subtitles too long, I'm going to point out that this chair that I'm sitting in is not red. No, this.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“I would say just Travis seems to have is not in a rush by it. So I'm going to guess 2018 for Uber and 2017 for Airbnb. I think that happens.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“You open one of these apps and it has again cliche deployment has changed the world and so I think ultimately they're in a fairly good position. They've got an extremely professional management team and a board obviously and they have their challenges. But I guess I'm still optimistic about the future of Uber.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, and the $3 billion from last year was in large part because of China. So I think the financial picture improves. I don't think they get the profitability because they're still fighting a lot of these local incumbents plus the well-capitalized lift. On the positive side, you know, with things like Uber Eats, it's beginning to take hold and the package delivery and everything else, like they have created a sort of urban mobility layer that they can start to take advantage of. And look, it's changed my life and the fact that you go to any country. And instead of the concierge scrawling your address in Chinese on a card.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“Right. Well, Amazon went on and on for years doing that, right? Until they figured it out. Like, and now they're the darling. And we can talk about Amazon in a second, but what do you think their prospects are? And speaking of that, because they are losing money, they are, but they're so popular. They're so useful. I think it's one of the one apps that people have in common across the country, as opposed to just sort of Silicon Valley loving apps. It's really, everybody uses an Uber and knows what it is.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT
“There's been tons of local players. Right. And Uber and Lyft aren't there. It was kicked out. And so if that's really the case, then Uber doesn't really have the kind of network effects that we'll talk about, Airbnb clearly enjoys. It's a fight. It means it's a fight in every city. It means, you know, they can't lift fares to a more natural level. And Uber lost $3 billion last in 2016.”
2017-02-20 · Decoder with Nilay Patel · Recode Decode: Brad Stone, author, 'The Upstarts’ · IDENTIFIED FROM THE TRANSCRIPT