Valuation yes, but if we take a step back, there must be value there. The idea of Uber really provided benefits to many groups. Example: minorities who were discriminated against by regular taxis, declining service level due to Taxi monopolies, etc. (Similar issues that Doordash solved as well.)

How can we separate the valuation from the real value generated by the tech? Would it be possible to allow Uber/Doordash to go bankrupt and instead a smaller worker owned or nonprofit cooperative take its place, replicate the tech stack and then allow the value to then be maximized to the employees + users with little middleman in between?

Obviously this idea has lots of issues to be resolved:

1. How do you you deal with government or other middlemen that wish to insert themselves?

2. Can we really copy Uber/Doordash or are those engineers/managers/middlemen really providing so much additional differentiating value that justifies the cost and thus the required valuation?

3. Worker cooperatives seem to move slower than their SV cohorts. For a company selling groceries, or door Windows (as a famous Bernie Sanders example talks about) its not an issue. But in the fast moving world of tech would it eventually kill the cooperative due to the inability to move as fast as the SV competitors?

I dont know the answers but I do think about it more and more as I traverse the world and see so much poor quality(enshittification) and expense. All of that is stolen value that is extracted from workers + customers to line the pockets of the owner class.