'Uberization' Of Everything Is Happening, But Not Every 'Uber' Will Succeed

One of the most important economic movements in a generation Even restaurant reservations could be 'Uberized' 'Uberization' could exacerbate income inequality

Take the power of Uber and apply it to X.

Thats the formula currently being touted by a deluge of tech startups seeking to convince investors that they have the next revolutionary, billion-dollar idea.

The Uber app, which connects passengers through their smartphones with nearby drivers for hire, is worth some $40 billion, making it the most highly valued tech startup in the United States. Like the Silicon Valley darlings that came before it think Groupon or Netflix or Facebook Uber has inspired a gaggle of copycat startups hoping to convince venture capital markets theyve tapped into Ubers formula for success.

Many industry watchers believe the phenomenon combining realtime data, mobile payments, instant gratification and dynamic pricing is the beginning of a technologically-driven economic shift, an on-demand revolution that will Uberize the entire economy.

But Uber has yet to prove whether it is worth its multi-billion dollar valuation or whether it is just the latest tech fad that could leave a trail of copycat casualties in its wake when the shine wears off, as Groupon did.

Peak Uber has hit, says Nick Waddell, who has received multiple Uber of X-style press releases as author of the tech blog Cantech Letter.

He came to this realization at a mixer event for investors and startups after watching a fund manager so fed up with hearing Uber-related ideas that he stopped an entrepreneur who was pitching his company as the next Uber and walked away.

Its a kind of lazy shorthand thats always been around. Three or four years ago, it was Groupon, and now its Uber, Waddell said.

He also believes, however, that Uber is much more than a fad. He thinks its one of the most important economic movements weve seen in a generation.

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'Uberization' Of Everything Is Happening, But Not Every 'Uber' Will Succeed