Uber was the first to touch down in Nigeria. They were doing well... until Bolt caught wind of the opportunity. Bolt studied the market closely, watched what Uber was doing, and more importantly, what Uber wasn’t doing. Then they made their move. But before we get to the game Bolt played, let’s look at Uber’s game: Uber had two customers to satisfy: the passengers and the drivers. But maybe without knowing, they started treating passengers as the real customers and drivers as just the workforce. In a way, they weren’t wrong. But they missed something critical. Drivers began to complain about the commission cuts, about how little attention they were getting. Still... Uber kept their standards high. Clean cars, professional drivers, and screened vehicles with specific requirements. It worked. Back then, driving Uber was a status thing. If you were behind the wheel, you were somebody. Everything ran smoothly. Then Bolt entered. They didn’t sneak in quietly at all. They showed up with a loudspeaker, offering lower cuts for drivers than Uber. Drivers checked, downloaded both apps, and compared earnings. You guessed right. Bolt was treating them better. And gradually, the drivers migrated. Bolt, who came to share the market, ended up owning most of it. But the game wasn’t over. Then, Vroommmmm! InDrive arrived. They looked at Bolt and Uber... and undercut them both. Even better, they gave passengers and drivers a chance to negotiate, turning rides into a real marketplace. Now it got messy. And at one point, you’d open Bolt… and there’d be no drivers. Why? They were busy on InDrive. Suddenly, all three companies weren’t fighting for passengers anymore. They were fighting for drivers. And in that fight... They all lost. Today, a typical Bolt, Uber, or InDrive ride feels no different from a regular roadside taxi. Except that you don't have someone choking you from the sides of the seats. Don’t expect a working AC. Don’t wear white unless you want it stained. The ultimate comfort is gone. And look at something: None of these companies is doing anything today that truly resonates with passengers, nor with the drivers. Drivers show up in tattered and dirty clothes, looking unkempt. People don’t open the app because they love the service anymore. They open it because they have somewhere to go. And it’s no longer which service do I enjoy... It’s simply who’s closest to me. That’s what a messy competition can do. It lowers the standard for everyone. Now imagine... If Uber had taken a different path. As Bolt dropped driver percentages, Uber could’ve gone up... Upped their standards, tightened vehicle requirements, introduced quarterly inspections. Kept only newer, cleaner cars. Yes... Maybe at a slightly higher price, but for a market segment that values comfort, that could’ve been a golden opportunity. Remember also: This isn’t a Western market, and it’s different here. In Nigeria, many still see ride-hailing as a luxury or only a necessity when in a rush. But there’s also a large group: car owners who don’t always want to drive. The elite, the rich, and corporate businesses who rely on these services for transport. Imagine if one company had held that premium standard. Today, they’d dominate that space. And now... if you’ve been paying attention, you’ve already learned a few things along the way. But I’ll break them down clearly, one by one: Competing on price alone is a race to the bottom. Bolt dropped prices, InDrive dropped them further. Now, nobody wins (they might be making profits, but value is gone). Compete on value, not just cost. Standards set you apart, especially in a crowded market. If Uber had doubled down on car quality and experience, they could’ve owned the premium lane. There’s always a segment willing to pay for better. React fast, but also think forward. When new players enter, don’t just copy; strategize. Anticipate where the market is going, while considering your demographics. In whatever, show your workforce they are your strength. . . . See You Again Next Time. I'm The Mad Profit Guy.