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Welcome to Big Technology Podcast, a show for cool-headed, nuanced conversation of the tech world and beyond.

Emil Michael is our guest today. He's the former chief business officer at Uber, and he's the chairman

and CEO of DPCM Capital. And Michael joins us at a fascinating moment for the ride-chairing

business and the sharing economy overall. Let's start with the fact that Uber is sitting at a market cap of

$63 billion, which is less than its last private market valuation, and its share price is

trading below its IPO price, and its CEO is giving rides himself to figure out why his company

can't recruit drivers. Lyft, meanwhile, is down 87% since its IPO, and its founders

just resigned for quote-unquote personal reasons. I mean, come on. Then you look at Airbnb, which has

effectively been flat on the stock market since its IPO years ago, and you begin to wonder whether there was a sharing economy

at all, or whether zero interest rate environment investments from VCs and public market investors

have propped up non-businesses this entire time. Well, the answer is not a clear yes,

but it's also not a clear no, at least for some companies.

I discussed this all with Emil Michael, who's had a front row seat to this at Uber and has followed it closely afterwards,

and I think has some very valuable analysis that you're going to enjoy a lot.

My conversation with Emil coming up right after this.

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