Uber Doesn’t Have to Follow Pan Am’s Tragic Arc
Both companies grew exponentially, fueled by a frenzy of investment at astronomical valuations. It would be easy for Uber's story to end in bankruptcy as well.
Pan Am was spending so much money in its heyday that it didn’t even know how much it was spending.
Photographer: F. Roy Kemp/BIPs/Getty ImagesPan Am was the world’s first commercial airline, reducing journeys that once took weeks to days or even hours. Though initially priced to serve only the rich and famous, the airline drove technological advancements that brought costs down to the point that almost anyone could afford a flight. It forever changed the way we move.
At its height, Pan Am’s empire stretched to six continents. Yet by the end of the century, the company that had pioneered and dominated an industry was bankrupt, dispossessing over 100,000 employees of their pensions and erasing billions of dollars of shareholder value.