Uber Succeed in the US but Failed in the UK and China Because of Jefferson and Hamilton’s Fight Over State Licensing

Why was Uber able to destroy the taxi cab industry in the United States, but it failed to get any sort of market share in the United Kingdom and China? The reasons are many, but essentially, the UK had strict licensing codes that made Uber’s operations impossible, while China openly supported a local rival to prevent the foreign company from taking over its market. However, the story of Uber is larger than a 21st century tale of government red tape. It goes back centuries to the origins of entrepreneurship and property rights in the Western legal tradition Entrepreneurship is more than taking risks to start a business, challenging legacy industries and innovating into success. It’s actually – as today’s guest argues – an act of rebellion that challenges the status quo and has a lot in common with fighting a revolution. We’re joined by John Landry, author of Launchpad Republic: America’s Entrepreneurial Edge and Why It Matters. We discuss how this rebellious spirit has influenced the institutional, political, and legal factors that have shaped our economy—with an in-depth look at how these have operated throughout history and can be improved going forward. Taking us from the economic foundation of the Constitution right to the present day, we explore current concerns about the ever-increasing inequality of wealth, offering strategies to improve the system without abandoning the balancing act between rewarding builders and enabling challengers that has proved remarkably resilient. See omnystudio.com/listener for privacy information.