Entrepreneur-in-Residence at Uber says the next wave of big-tech startups are on the way.
“Hail Marriages” co-founder John Zimmer says the company is a game changer.
“I think the next billion dollars are going to be spent on infrastructure,” he says.
“The next billion people are going for the internet.”
Zimmer is one of the most influential people in the ride-sharing space, which is expected to surpass $20 billion by 2019.
Uber’s stock has gained almost 200 percent this year.
“When you look at all the technology companies that are in the space today, you can see that there is a lot of synergy,” Zimmer says.
He adds that Uber’s core business is a “pay-for-ride service” that lets users order rides.
Uber now allows customers to book a car from the app and drivers are compensated with cash.
Uber also plans to build a new headquarters in Palo Alto, California, a suburb of San Francisco, to build out its driver-training business.
Uber has faced criticism in the past for making its drivers earn more than minimum wage.
But Zimmer says drivers now earn more and he says they will continue to do so.
“If we continue to grow at a high rate, we will be able to provide a much higher standard of living to our drivers and to our employees,” Zimmer said.
Zimmer says he’s hopeful for the company’s long-term growth and believes it can survive in the face of regulatory pressure.
“We will survive in any environment that comes,” he said.