Tech Companies Wanted to Remake the World. Now They Want to Make Payroll
Uber’s retreat from bikes can tell us a lot about Silicon Valley’s diminished ambition in the coronavirus era.
Hi all, it's Eric. Silicon Valley has long been known for its lofty, change-the-world rhetoric. Now, the pandemic is forcing many tech companies to abandon their most revolutionary dreams.
Just this week, Alphabet Inc.'s Sidewalk Labs announced it isn't going to reinvent the city of Toronto. Airbnb Inc. said it’s cutting back on luxury rentals and travel investments (including, presumably, its air travel plans). And Uber Technologies Inc. seems to have given up hope that it will transform urban transportation with electric bikes.