What Alejandro Betancourt López Predicted About Tech in 2022
Alejandro Betancourt López made two calls about technology in a February 2022 interview, a few weeks into a year that ended as Wall Street’s worst since 2008. The investor, who leads the O’Hara Administration investment group, expected markets to pull back while the technology itself kept spreading.
His second call concerned ride-hailing. He expected the largest platforms to stop trading profit for market share once investors lost patience with the fight, and he expected the services themselves to branch into new kinds of transport.
Prediction One: Markets Retreat, Technology Keeps Going
“Everything is a cycle,” Alejandro Betancourt said. “The market’s going to take a step back, but technology’s going to continue to be there.” He compared the moment to the dot-com crash, when the strongest ideas survived the sell-off and went on to change how the world operated. He added that so much liquidity was sloshing around that a correction might never arrive, though he said nobody could predict it. People would get spooked whenever markets stepped back, he said, and the stronger technology companies would keep growing regardless.
The correction arrived anyway. The Nasdaq Composite fell 33.1% in 2022, the S&P 500 lost 19.4% and the Dow Jones Industrial Average gave up about 8.8%.
Corporate investment in artificial intelligence then reached a record $581.69 billion in 2025, according to Stanford’s 2026 AI Index. Private investment accounted for $344.66 billion of that total and mergers and acquisitions for $214.44 billion, while business adoption of AI climbed from 55% in 2023 to 88% in 2025. U.S. AI investment alone reached $285.88 billion.
Alejandro Betancourt López’s Second Call: Ride-Hailing Profits
“There’s so much competition between the major players right now that they’re fighting fiercely for market share. And when that happens, sometimes they sacrifice profitability,” he said. At some point, Alejandro Betancourt López argued, companies would have to settle which markets each could hold, and the apps would stretch from rides and food delivery into other forms of transport.
Uber’s gross bookings rose 19% in 2025 to $193.45 billion, revenue climbed 18% to $52.02 billion and income from operations nearly doubled to $5.57 billion. “Uber accelerated into another record-breaking quarter, with more than 200 million monthly users,” Chief Executive Dara Khosrowshahi said. Uber also produced $9.76 billion in free cash flow and completed 13.57 billion trips, up from 11.27 billion in 2024, and monthly active platform consumers reached 202 million in the fourth quarter, up 18%.
Alejandro Betancourt López’s résumé names him a founding member of Auro, a Spanish private-hire company in which Uber completed a 30% stake purchase worth €220 million on Feb. 28, 2025.