Uber to the people!
According to a report by the Financial Times, Uber is planing to drop a cool USD500m into a "global mapping project" that will alleviate its reliance on the omnipotent Google Maps.
This report comes in the wake of a wanton investment of USD3.5bn from Saudi Arabia's sovereign wealth fund. The spending also hints at Uber's plans to expand its driverless car service. Currently, Uber already has its mapping vehicles prowling the streets of US and Mexico and we should be able to expect a Uber vehicle driving on our streets mapping Mat Rempits and traffic jams.
What does this mean for Malaysia you ask? With the increase in investment and the expansion of its business overseas, we could be looking at the weaning of less than honourable taxi drivers here in Malaysia. In the interest of self-preservation, unscrupulous taxi drivers will either change their ways or die a natural death having exhausted all of its gullible clientele. Either way, the consumers win! Uber's disruptive economy aside.