Final answer:
Uber's business model has revolutionized the transportation industry by offering convenience and cost-effectiveness to consumers.
Step-by-step explanation:
The statement is true. Uber's business model has indeed revolutionized the transportation industry by offering convenience and cost-effectiveness to consumers.
Uber introduced the concept of ridesharing, which allows individuals to use their own personal vehicles as taxis through a mobile app. This disrupted the traditional taxi industry by providing an alternative service that is often cheaper and more convenient for consumers.
Furthermore, Uber's technology-driven approach, including GPS tracking, cashless payment, and driver ratings, has enhanced the overall customer experience and increased trust and safety within the industry.