Dominick Moxon-TritschHead of EMEA Public Policy

Brussels, 1 April 2014

ONE TAP TO RIDE RELIABLE PICKUPS

CLEAR PRICING

CASHLESS & CONVENIENT

FEEDBACK MATTERS

SPLIT YOUR FARE

HOW DOES IT WORK?

WHY IS UBER INNOVATIVE?

• Technology: Puts GPS technology at the heart of Uber’s business, making it safe and efficient for passengers and drivers

• Consumers: tap, book, check, pay all in one app

• Drivers: better access to more passengers with guaranteed payment

• Competition: new technology enhances passenger choice and driver efficiency

• Economy: technology-enabled choice helps small business grow

• Environment: reducing idling limos improves their efficiency

WHY DOES INNOVATION ENCOUNTER PROBLEMS?

• Blocks to innovation are not new!• 1635: Thames Watermen got the King to ban the Hackney

Carriage that ran parallel to the Thames

• 1860s: ‘Locomotive Acts’ (‘red flag act’) cut car speeds to 2 mph in towns and required a man with a red flag or lantern to walk 60 yards in front of each vehicle.

• Innovation challenges the status quo…• Machiavelli (The Prince): ‘the innovator has for enemies all those

who have done well under the old conditions, and lukewarm defenders in those who may do well under the new.’

• …and rent-seeking behaviour• Rent seeking from Adam Smith to Public Choice Theory:

manipulation of politics / regulation to capture income• Innovation reduces rents and undermines rent-seeking activity

UBER IS GOOD

• For consumers • Easy-to-use ordering system using GPS technology• Transparent pricing• Quick, convenient, cashless payments

• For safety• Thorough driver vetting process• Restricted access for drivers to the platform• Visibility: in advance you see the driver and vehicle that is picking you up;

driver knows who is being picked up

• For drivers• Objective trip allocation based on geolocation• Reliable and clear payments• No fixed fees

• For cities• Significant reduction in drunk driving• Transparency aids local revenue authorities• Reduced overall number of vehicles

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UBER @UBER UBER.COM

Thank you!