I think you're oversimplifying it. Of course it provides something of value to some people - it pays drivers, riders get rides home from the airport, etc. I don't think he's saying that Uber has never provided anything of value at any point, but he's making the case that it's still a scam or a bubble, because the company isn't actually making money, it knows it, and has no plan to become profitable. Therefore, it's a net loss, and essentially scamming investors out of money, plus the other negatives he mentions. I'm sure some people made tons of money when the stock market crashed in 1929, that doesn't mean it wasn't catastrophic - just because some people benefited.