Didi losing its way as rival ride-hailing firms take over Chinese roads

Didi losing its way as rival ride-hailing firms take over Chinese roads

The current state of China’s $30 billion ride-hailing market, the world’s largest, is reminiscent of the dotcom craze of the late 1990s, when many tech hopefuls launched startups that were unprofitable but still managed to win enormous valuations based on the number of customers or eyeballs they could pull in.