He’s not wrong in this case, it’s doable. There are many startups building similar services with arguably fewer starting resources. You should run completely in the other direction, but it’s not impossible.
Credit products, especially virtual, are easier to create than ever thanks to companies that have built out that infrastructure. Chequing can be facilitated and held by a major bank under the hood in most cases.
It might not be his end game, but it’s definitely possible. Now, forgive me while I weep for anyone that uses it if they manage to deliver it.
Profitable for who? The one hosting it foots the bill. If it was federated, all drivers could host their own instance like WordPress and a single app would connect to all instances and all drivers.
Agencies could start up to manage the tech for a negotiable fee if the drivers in the area didn’t want to bother with the tech.
Whether or not it could be profitable entirely depends on the hosting and delivery model. One guy could host the tech stack and charge maintenance fees and be in the green.
If you mean rich, then yeah, nobody would probably be rich. But you can build a small business as a hosting provider no problem, and the drivers would probably get a better deal. Uber employs so many people it requires they charge money. There’s a tipping point when the service provider becomes so large that their sheer operating expenses start to necessitate increased costs. Breaking up provides better value in that case.