Valuations are "stretched" for a number of stocks. These things are cyclical and always work themselves out.

IMO nothing compares with Facebook buying $30 m/yr revenue company WhatsApp for $19 billion. That will probably be the high water mark for this boom/bust cycle. Much like AOL buying Time Warner for $164 billion marked the peak of the 2000 dotcom era.

Well once Google buys Uber (who else could/would?), $19 billion won't be enough...

Even stranger when you consider that the Taxi AND Limo business is collectively an $11B/year business.

http://www.ibisworld.com/industry/default.aspx?indid=1951

So if this isn't bubbly stuff, Investors must at least be extremely bullish on Uber increasing its market share.

In addition to global market size possibly being bigger, I believe Uber is capturing a bigger market size by targeting low end cost spectrum. Case in point, I rarely use cabs but have used Uber on and off for rides to places. It may just be me but I believe even in this market alone, the market size is bigger overall.

Add in the fact that Uber is tackling on new mediums like local delivery and the market size gets bigger yet again.

Is this report North America only? My home state of Victora, Australia's taxi industry is described as a "1.8 billion dollar" industry.[1]

[1] http://www.smh.com.au/business/taxi-industry-warns-of-500m-b...

Ok I thought that it may have only been domestic, thanks!

Now we need a "P2P Taxi Meter" for drivers and a "Kayak for P2P Rides" for passengers.

I think that's what SideCar is trying to become.