Platform Cooperativism Resource Library


Magellan boss Hamish Douglass expects Uber to collapse in the next decade and labels the ride-sharing firm a “Ponzi scheme”.

Uber’s practice of persistently raising capital from private investors is akin to a Ponzi scheme, according to veteran investor and Magellan Financial Group chief executive Hamish Douglass.

In a candid interview at the Stockbrokers and Financial Advisers Conference in Sydney on Wednesday, Mr Douglass lamented the dramatic losses awaiting Uber investors as automated driving technology permeates the market.

Added October 11, 2019