Actually, Adam Smith foretold
that businessmen would meet to conspire...but their machinations would result in more and better service
for the public;
In a funding round that closed in May, Didi Kuaidi [Beep beep, fast cab] Joint Co. invested
in Lyft alongside China’s top Internet companies, Alibaba Group Holding
Ltd. and Tencent Holdings Ltd.
, according to people familiar with the situation. Didi and Tencent
were new investors in Lyft’s latest round and Alibaba put in more cash
after an initial investment last year, they said. The size of
investments couldn’t be learned.
That's money put at risk, by profit seeking (and praying?) investors. I.e., no guarantees the money will be repaid.
By investing in Uber’s top U.S.
competitor, Didi Kuaidi and the Chinese Internet giants seek to boost
the competitive threat to Uber in its home market as the ride-hailing
app is expanding in China. Calling China its most important global
market, Uber has set an ambitious goal to expand to 100 more Chinese cities
in the next year. Didi Kuaidi dominates the taxi-hailing market in
China and claims more than 80% of the private-car-hailing market there.
We (nor anybody else) knows how this will turn out, who will end up successful. But, enjoy the ride.
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