Invariantum

Uber is two moats, not one. Mobility is a deep local network effect that holds market leadership but faces autonomy, where an AV owner like Waymo can bypass the app and go direct, a threat the numbers can't yet see. Delivery is a shallower network effect, second to DoorDash at home but largely safe from robots at the doorstep. A cross-platform bundle ties them. Verdict: Strong / Intact, under threat.