A world with less pollution and no traffic jams, where taxis are cheap and safe and you never have to wait for a pickup: It’s a rosy vision Uber is peddling, and venture capitalists, those professional optimists, are fully on board. An app-based service that lets anyone in need of a ride summon one within minutes, Uber recently raised $1.2 billion at a valuation of $18 billion, making it, on paper, one of the world’s biggest transportation companies, more valuable than such venerable competitors as Hertz, Avis and United Airlines.
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