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In my sich my car a Prius costs .54 cents per mile to operate and the per mile mileage tax write off is .53 cents per mile.
So it's almost a wash.
Get a car with the lowest per mile operating cost and you will put more coin in your pocket.
but you drive 2-3 miles for every 1 paid mile.
 
Thats pretty old news mate.... been this for ages. Gig economy: poor people subsidizing rich people

Read the article. Lyft going IPO. It cost $1/Mile to drive an owned car, $3/Mile to take Lyft...but Lyfts Self Driving Cars will bring down the $3/Mile cost lower than people can drive their own cars.

We are driving their riders for below our cost, and subsidising Lyfts growth until they don't need us anymore.
 
So, Lyft is out in the open about going to IPO.
Will Uber now try to beat them to it, and financially undercut them somehow, at the same time - as per their usual modus operandi ?
I foresee this whole race to IPO ending pleasingly badly for both major proponents.
Third degree financial burns, anyone?

but you drive 2-3 miles for every 1 paid mile.
Just another one of those "Things they didn't teach Travis at Harvard Business School", it seems.
Amongst many others.
 
I've owned close to 20 taxis. Ain't no way a company which currently owns no cars is going to suddenly turn a profit with a fleet which costs billions of dollars to buy, then a billion to maintain.
Watch and learn my friend, watch and learn. GM has dedicated one assembly line at their Orion assembly plant in Michigan that will crank out 200,000 self driving electric Bolts this year. Watch and learn.
 
I can maybe see these rideshare companies using these self-driving to supplement "their" fleet of cars, but to replace drivers? Doubtful in my lifetime.
Once self driving cars hit, drivers become dinosaurs. No one is going to pay 3x's as much to have you drive them when a self driving car do it better and safer. Ya ya, for the first few months, they will. But it'll only take months before pax realize it's safer.
 
Yup get the pax hooked on cheap rides then subtract all the drivers. Then profit.
This was not the plan when Uber started in 2009. Two years it become clear self driving cars were really going to work. Two years ago is also when Uber slashed fares. Two years ago is when Uber gave up on making a profit with the current business model and turned all their efforts to growing their customer base.
 
I was a teller, and remember when they said automated teller machines would make that job obsolete; they didn't. It wasn't until the 'net and online banking arrived that teller jobs became more scarce, but not obsolete.
I have bank accounts with 4 different banks. I use tellers at all of them. With US Bank I have to use a teller because their atm's suck.

Chase has the best ATM's but still use a teller when I transfer funds.

The online apps I only use to transfer money between my own accounts and check balances. Not to other people's accounts.

But overall, agree, there's allot less human tellers inside the bank.

Not obsolete, just distributed differently within the company.

Same goes for driverless cars. Going to be a long time before the entire nation gives up their cars. Autonomous vehicles and human beings will have difficulty cohabitating in the road together.
 
I don't understand? what does the one have to do with the other?
Very simple. Uber has no intention of ever raising rates and becoming profitable with the current business model. The only thing they are going to do, if they are even able to compete and stay in business, is cut fares by two thirds when self driving cars hit.
 
Yes let's discuss the new generation Atms.
Yellow has a deposit debit card in case I don't get enough credit cards to pay dispatch.
One day I made a cash deposit of about $60. Machine choked on it and asked me "how much was yoour deposit?".
I didn't remember the exact amount so I typed in $100. Tried to be honest but the bank manager had no way to fix it.
I made $40!
Next I did a deposit at the same cash accepting type of robot ATM at my bank.
Again, choked on the cash and spit the money back out. Plus an extra $60!

What's the point? These robots are not so smart and not so able in the physical world.
SDCs are gonna be a frakkin shitshow.
 
I've owned close to 20 taxis. Ain't no way a company which currently owns no cars is going to suddenly turn a profit with a fleet which costs billions of dollars to buy, then a billion to maintain.
Not sure they will ever own a sdc, it will be franchised out
 
I've owned close to 20 taxis. Ain't no way a company which currently owns no cars is going to suddenly turn a profit with a fleet which costs billions of dollars to buy, then a billion to maintain.
they dont have to buy. they team up with car companies(toyota,kia,ford.) who will provide cars at the beginning. but guess what lyft and uber will it their own shit later. car giants( ford, chevy, toyota,tesla) will come up with their own ride share platform and will get lyft and uber to go bye bye.
 
they dont have to buy. they team up with car companies(toyota,kia,ford.) who will provide cars at the beginning. but guess what lyft and uber will it their own shit later. car giants( ford, chevy, toyota,tesla) will come up with their own ride share platform and will get lyft and uber to go bye bye.
100%
Easier for a car company to invest a couple million in a rideshare app than a rideshare company investing a few billion in diverless cars.
Investing in Uber/Lyft in money down a rat hole.
 
Once self driving cars hit, drivers become dinosaurs. No one is going to pay 3x's as much to have you drive them when a self driving car do it better and safer. Ya ya, for the first few months, they will. But it'll only take months before pax realize it's safer.
That assumes a lot. Apparently, you believe the cost/benefit projections of those who stand to profit; I'm unconvinced.
 
That assumes a lot. Apparently, you believe the cost/benefit projections of those who stand to profit; I'm unconvinced.
What part are you unconvinced about? If you don't have to pay the driver, you can reduce fares dramatically. And you'll have to reduce fares dramatically otherwise you'll be undercut by the competition.
 
I just ran some numbers.
The car will have to go 40,000 miles to generate $28,000 @ $1.44 per mile. This is only gross revenue. If there's a lease agreement between the manufacturer and the TNC, each company gets half of that so it's only $14,000 gross for each partner, GM and Uber.
The car therefore must be on the road for 80,000 miles for each company to gross $28,000, the break even point on the vehicle.
That means the car has to go 160,000 miles for both companies to break even and then pocket $28,000 apiece.

Totally unrealistic.
Rental car companies sell their cars at 40,000 miles.
This whole thing is a shell game.

Uber replaces the driver with a car company partner. They don't pocket the other $0.72.

Many of you are so intellectually challenged it bogs the mind.
 
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