The question is, when the VC money dries up and they can't subsidize the fares any more, does this still apply?

I prefer having a car - I can put my surfboard on the roof, I can put my bikes on the back. I can always have the boot / trunk full of camping and beach stuff. It's far more convenient than relying on taxis and hire cars.

Really helps when you have kids too.

The convenience of hire cars and Uber covers a limited scope.