For Uber and Lyft, the Rideshare Bubble Bursts

Piece by piece, the mythology around ridesharing is falling apart. Uber and Lyft promised ubiquitous self-driving cars as soon as this year. They promised an end to private car ownership. They promised to reduce congestion in the largest cities. They promised consistently affordable rides. They promised to boost public transit use. They promised profitable business models. They promised a surfeit of well-paying jobs. Heck, they even promised flying cars.

Well, none of that has gone as promised (but more about that later). Now a new study is punching a hole in another of Uber and Lyft’s promised benefits: curtailing pollution. The companies have long insisted their services are a boon to the environment in part because they reduce the need for short trips, can pool riders heading in roughly the same direction and cut unnecessary miles by, for instance, eliminating the need to look for street parking.
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