I would be amazed if Uber ends up losing its licence, but this fallout with Transport for London (TfL) is serious.
In recent years the company has been accused of all sorts of wrong-doing: exploiting drivers, dodging tax, driving black cabs out of business.
But this bust-up is different. TfL is basically accusing Uber of failing to protect the public.
Uber strongly denies this and it will appeal, a process that will take months. During that time, it's business as usual.
It’s worth noting that none of 40 other towns and cities in the UK in which Uber operates appears to share Transport for London's concerns. Bristol, Birmingham, Manchester, Cardiff, Belfast have said so publicly.
This feels like attempt to publicly humiliate the company into changing the way it behaves. There might be more to it, but we'll see when this goes to court.
Uber is still in its infancy. The company's first taxi ride was in San Francisco seven years ago and it has been growing like billy-o ever since.
Uber claims that just over half population of the UK has access to its taxi service. At the heart of the business is a smart phone app which is an undeniably wonderful piece of technology.
People love how easy it is to order a taxi, they love the fact that Uber tend to be cheaper than black cabs.
Uber is innovative and entrepreneurial, but it is also ruthless and aggressive. The company has managed to upset plenty of people in its bid for world domination, including its own shareholders.
You may love Uber's prices, but they aren’t high enough to cover the company’s costs.
Uber is losing eye-popping sums of money; it only survives thanks to investors cash which Uber is burning through at quite some pace.
In June, Uber's shareholders ousted the cofounder and chief-executive, following a host of lurid allegations of sexual harassment and gender discrimination within the business.
There is a new management team, and it certainly has its work cut out for itself.
Uber itself is on something of a ride; it's a white-knuckle one, and it may not end well.