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Is Uber Dying on the Vine? Lyft right behind...

Matt Uterak

Well-Known Member
It's a failed business model.

They put together a great system, created a market, have millions of users each day, and can't make money?

Public school grads?

The fundamentals are sound.

It needs quite a bit of tweaking.

Reassessing rates is more important than growth presently.

Undercut taxi rates by 10-30% would result in slower growth, but ensure profitability of the company but reduction in driver acquisition costs.

They also need to cut spending on non core business items.

A new startup might be able to eat their lunch, but I predict a more expensive product with static ridership numbers over the next 10 years.
 

Seamus

Well-Known Member
The entire business model of public transportation is and always has been deeply flawed. Public forms of transportation have always been money losers on an operating basis. Trains, buses, subways, Taxi's have never been big money makers. Busses and trains have survived based on government subsidies. The only people to ever make big money on Taxi's are the Medallion owners who make big money on the value of the medallion.
IMO the only way Rideshare becomes profitable is to find a niche market, undercut Taxi's by a little, reduce their overhead to programmers to ensure an app that works well. Should easily generate enough revenue on just taking 25% of the ride as a commission. Get back to basics and don't try to conquer the world.
 

IR12

Well-Known Member
  • Thread Starter Thread Starter
  • #15
The entire business model of public transportation is and always has been deeply flawed. Public forms of transportation have always been money losers on an operating basis. Trains, buses, subways, Taxi's have never been big money makers. Busses and trains have survived based on government subsidies. The only people to ever make big money on Taxi's are the Medallion owners who make big money on the value of the medallion.
IMO the only way Rideshare becomes profitable is to find a niche market, undercut Taxi's by a little, reduce their overhead to programmers to ensure an app that works well. Should easily generate enough revenue on just taking 25% of the ride as a commission. Get back to basics and don't try to conquer the world.
If only.
 

IR12

Well-Known Member
  • Thread Starter Thread Starter
  • #18
If only they would cut the in-house employees pay instead of the drivers.

They stock beer in the break rooms. Seriously? I have to pay for beer when I take a break!
✂✂✂ I'll drink to that!
 

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