Investigator Gary Walsh files complaint against Uber
Says Uber “used its corporate might keep prices artificially low”
Private investigator Gary Walsh has filed a complaint against Uber with Canada’s Competition Bureau.
Investigations Co-Ordinator with Probe Toronto, Walsh believes that Uber has intentionally used a predatory pricing program designed to drive market-priced competitors out of business for over a decade.
“Everyone following the market knows that Uber never made a profit until the second quarter of 2023,” says Walsh, who filed filed a similar complaint with the Mergers and Monopolistic Practices Branch in 2014, but was informed his complaint and evidence fell short of statutory requirements.
In fact, although Uber was founded in 2009, “from 2016 through the first quarter of 2023, Uber collectively racked up close to $30 billion in operating losses,” according to S&P Global Market Intelligence. “The company posted its first quarterly operating profit in the second quarter of 2023.”
In his February 14th, 2024 complaint, Walsh wrote “I refile this complaint in the firm belief those statutory requirements not met on November 24th, 2014 are now met on this date.
“Specifically, Uber controls in excess of 51 per cent of the Toronto taxi market because nearly 3000 of the existent 5500 Toronto taxi licenses have been turned back to the city.”
“The most glaring evidence,” Walsh’s letter states, “is that for Uber, for the last quarter of 2023 posted its first profit ever thus it can be concluded they have always lost money using its corporate might to subsidize the costs of those taxi or should I say ‘ride sharing’ trips to remain artificially low – 40 per cent less than Toronto taxi fares.”
“As an aside,” Walsh, who has a long-time professional reputation as being somewhat incorrigible, “it is my view any time a U.S. or other foreign corporation illegally operates in Canada and are successful in shutting down law enforcement and the courts, these businesses, highlighting Uber, threaten our national sovereignty.
“Thank you for your attention, co-operation, and anticipated assistance.”
