Bad news for consumers: Uber has lost its license to operate in London.
The development has caused Uber stock to slump by 6% at time of writing, and it might fall more before recovering. This is the problem with having such licenses overseen by the political apparatus — decisions get made on political grounds. This is, from the viewpoint of politicians and the political process, quite lovely, unfortunately, it’s also something of a disaster for the rest of us.
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