Remember when I wrote that there was absolutely zero chance Uber could win China? That mega competitor Didi Kuaidi simply had too much of a lead and the only way Uber could make a dent in it was unsustainable subsidies -- even for a company with $7 billion in capital raised? And that even if Uber chooses to lose $1 billion a year in China in subsidies it still wouldn’t have a chance because Didi is backed by three of the biggest Asian corporates Tencent, Alibaba, and Softbank?
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