CAB comprimised but not beaten

Cabcharge is now on approx. 13X FY18 earnings, low debt and has adapted to new environment. Finally think this is a buy. Uber looks like a time bomb. Drivers have generally poor returns, there is a myth that Uber is meant to be cheaper than taxis - this is false- it was established as a premium service. It charges exorbitant prices when demand is high. Management is shambolic and losses are running at $US 3.0 pa. Yes, it's a start up. This from one of Australia's most successful investors:
One of Australia's wealthiest and most high profile investors, Hamish Douglass, appears to have engaged in "new economy heresy" – calling out the ride sharing company Uber as being a Ponzi scheme and one that will be broke in 10 years.One of Australia's wealthiest and most high profile investors, Hamish Douglass, appears to have engaged in "new economy heresy" – calling out the ride sharing company Uber as being a Ponzi scheme and one that will be broke in 10 years.
The last of the state adjustments from 10% to 5% surcharge occurs this year. Earnings should at least stabilise in FY18 and some confidence should return. Stock is worth 42.50 on current fundamentals.

p.s. Uber means under in German - maybe the company is flagging its own eventual death.