Called a loss leader. Humans picking up pax is not the long-term business model.Was one of better NYE then the past 2 yrs. I only ran Select and Lux (think did only few X surges early in evening. Avg’d $35/hr before expenses in 8 hrs and under 200miles. Could’ve been better. Night was salvaged with several $20-30 surges between 12:30-2am. I was a believer in the new surge method, that’s for sure. Sucks for long trips, and I had zero. Most trips were 5-15 mins most.
What I noticed looking at fare details, is Uber was not passing on all of the Surge cost. One ride was around $52 to me and rider only paid $39 (which included $5 tip). Uber showed approx -$13 service fee deduction. Every trip was like this with surge.
How can these worthless companies make any money?? I don’t much care since I got what I needed and I do this very minimal. You don’t need an economics degree to know if you sell something for far less than you bought it for wholesale, uhmmm...your not going to make money.
Best case, is this WAS the NYE to redeem consumer buyback by not gouging the hell out of their pocket books. I was wondering why a few still tipped after the surge. Come to find...they really didn’t have a surge cost. Again...no matter to me. I did pretty well, and better than expected.
Also, holding to mostly Select/Lux, you do tend to weed out the rif-raff younger crowd that can’t hold their liquor. Or, the older crowd that is butt drunk, know how to handle it. I had mostly older crowd. The X surges I took were before puke-o’clock and they were all nice younger couples getting home before the ball dropped.
Oh...and surge heat maps are pretty bogus most times. I had several times last night (and over holidays) where I was on top of areas that Select surge popped up and remained for 30+ minutes and never one ping. Could understand if I was chasing to an area and got nothing, but when you in it, or within 5 mins of a surge area that comes and then goes and no requests, something is messed up.