Member Brief: Quibi and VC-Subsidized Media

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In March of 2009, Uber launched in San Francisco to great fanfare. At the time, the mobility company’s Chief Executive, Travis Kalanick, had a goal that seemed simple enough: first attract the higher rungs of society and then dominate the world by capturing marketshare. Except, to do so, he’d have to adjust the prices. Uber was too expensive for everyday users. Over the next decade, Uber would employ a tactic that has been popular throughout Silicon Valley circles — deploying hundreds of millions in venture capital to subsidize the cost of the product, which in Uber’s case is rides.

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