Yeah, but that mousetrap keeps working for SV startups, what makes you think it won't work for Chinese ones?
Uber spent a decade undermining taxis, and once it had market share, it stopped giving away rides and raised prices. It now costs more than a regular taxi, with the quality of the ride being... At best proportionate to the premium in price.
Looking at a 7 mile trip to a random destination in Seattle, right now, I can pay $26.70 for an Uber if I'm willing to wait 20 minutes for a pickup. With a $3/mile fee and a $5 pickup fee, that's exactly equal to that of a taxi.
If I'm not willing to wait 20 minutes, I'll be paying an extra $5 minimum.
These rates also go up during busy times.
Looking at Lyft, that same trip is $29, without a wait.
A trip from downtown to SeaTac is $61. Yellow Cab does that same trip for $40.
Uber spent a decade undermining taxis, and once it had market share, it stopped giving away rides and raised prices. It now costs more than a regular taxi, with the quality of the ride being... At best proportionate to the premium in price.