(Reuters) – The Federal Bureau of Investigation is probing to see if Uber Technologies Inc [UBER.UL] had used software to illegally interfere with its competitors, the Wall Street Journal reported on Friday.The investigation is focusing on an Uber program, internally known as Hell, that could track drivers working for rival service Lyft Inc, the WSJ said, citing people familiar with the investigation.Under the program, which was discontinued last year, Uber created fake Lyft customer accounts to seek rides, allowing it to track nearby Lyft drivers and ride prices, the Journal said.This also allowed Uber to obtain data on drivers who worked with both the car-ride providers and could have allowed it to lure drivers to leave Lyft with cash incentives, WSJ added.
Do you remember Blockbuster Video?Mitch Lowe does. And he remembers what they said to him as he set about putting them out of business with Redbox, the movie rental company.They said ‘wait a minute, we rent movies for $5. You cant make money renting them for a dollar!””The year I left we did $1.5bn in revenue. Blockbuster doesnt exist any more.”Lowe was also on the founding executive team at Netflix, and he helped guide the company to be the dominant online streaming service. It is one of Silicon Valleys great disruptors – turning an industry almost on its head.Now he thinks he can do it again, this time with cinema.
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