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Uber boss [Dara] says U.S. market unprofitable amid tough competition from Lyft

Discussion in 'News' started by FormerTaxiDriver, Nov 9, 2017.

  1. FormerTaxiDriver

    FormerTaxiDriver Active Member

    Location:
    Chattanooga
    tohunt4me likes this.
  2. Kembolicous

    Kembolicous Well-Known Member

    Location:
    COLUMBUS OHIO
    Driving:
    UberX
    Amazing. The bastards take 25% of the rides, have nothing in the ride, but an app and still complain they cannot make money. Leeches. Gee, maybe they should reduce drivers pay! The quicker Uber dies, the better.
     
  3. Uberfunitis

    Uberfunitis Well-Known Member

    Location:
    Arlington
    Most of my morning trips Uber actually pays me more than the passengers are paying.
     
    tohunt4me and uberdriverfornow like this.
  4. FormerTaxiDriver

    FormerTaxiDriver Active Member

    Location:
    Chattanooga
    Maybe they'll stop giving out free rides?
     
  5. Dropking

    Dropking Active Member

    Location:
    Sf bay area
    They supplement fares with minimums. They have been losing billions for years as a trade for market share.
     

  6. Kembolicous

    Kembolicous Well-Known Member

    Location:
    COLUMBUS OHIO
    Driving:
    UberX
    I have a swell idea, maybe it is time to charge what the ride is worth, and not this absurd payscale in use now. There is a reason a taxi costs what it does.
     
  7. dirtylee

    dirtylee Well-Known Member

    Location:
    Dallas
    Driving:
    UberX
    Flat fares{commuter pax have them}, boost, & ant incentives cost money huh???

    Maybe raise the drivers pay past a pittance. Uber is already charging 20% more on upfront fares. Bump drivers up from .85/mi to atleast 1.15/mi. Only morons will drive lyft then.

    They don't supplement min fares. Pax have a min charge before booking fees. You get a 75% cut of that irregardless of distance.
     
  8. Uberfunitis

    Uberfunitis Well-Known Member

    Location:
    Arlington
    They really do supplement the rides a good portion of the time. When I look at what the passenger paid very often that amount is less than what I was paid.
     
    Cndragon and rembrandt like this.
  9. Oscar Levant

    Oscar Levant Well-Known Member

    Driving:
    UberX
    They take considerably more than 25%, more like 38%, when you factor in booking and service fees and upfront pricing where they are increasing rider fee, but not driver pay.
     
  10. Aerodrifting

    Aerodrifting Active Member

    Location:
    Los Angeles
    Driving:
    UberX
    Yes and No. They do supplement fare on minimum rides but they still have money:

    On typical minimum fare rides, Rider pays $6, You get $1.8 then Uber "supplement" your fare to $2.62, But then Uber still gets 6 - 2.62 = 3.38 (2.1 booking fee plus your commission). In such rides Uber's cut is usually over 50%.

    I have a recent ride where rider paid $8 and I got $3 while Uber took $5. Only rides where Uber lose money are those incentives given out to first time riders.
     
    MoreTips, defcon888 and outface like this.
  11. Woohaa

    Woohaa Well-Known Member

    Location:
    Los Angeles
    The better for Taxis maybe.
     
  12. outface

    outface Active Member

    Location:
    sf
    There is no justice if Uber doesn't fail.
     
  13. defcon888

    defcon888 Member

    Location:
    Silicon Valley
    I just started driving for Uber in Sept and just started with Lyft a week ago. I am perfering Lyft over Uber because of the pay and Lyft customer service seems nice and more friendly to me. When I have contacted Uber, they always come across as being SMUG and condescending.

    I like that Lyft sends out texts that say "There is a concert/event tonight at XXXXX, there will be a high need for rides....head over". All I get from Uber is "This weekend is 1.5% weekend".

    I still think it is wrong to take more than 15% of a fee....all Uber and Lyft do is control the servers, write code...they don't actually drive....we the drivers are making them or breaking them.
     
  14. ShinyAndChrome

    ShinyAndChrome Well-Known Member

    Location:
    Rochester
    It's an absurd situation but they must just be spending all of it trying to gain market and create a market. They are only not profitable because they are competing with another company that is perfectly happy to burn up money to gain market as well.

    This is why it is obscene that they are losing money.
     
  15. rembrandt

    rembrandt Well-Known Member

    Location:
    USA
    The insane rat race to bottom continues.
     
  16. REX HAVOC

    REX HAVOC Well-Known Member

    Location:
    San Francisco, CA
    They take 40 to 50% off the total of each ride. You just don't notice because you aren't looking at what the pax paid at the end of each ride. Do the math.
     
    tohunt4me, MoreTips and Kembolicous like this.
  17. ColdRider

    ColdRider Well-Known Member

    Location:
    Chicago
    According to the experts on these forums, it costs nothing to run and market an app as big as Uber.

    Just, lol!
     
    tohunt4me and pegasimotors like this.
  18. Fuzzyelvis

    Fuzzyelvis Well-Known Member

    Location:
    houston
    Driving:
    UberX
    According to the experts at Uber, it costs nothing to drive and maintain a fleet of vehicles as big as Uber's.

    Because UBER doesn't. They let US do that
     
  19. dirtylee

    dirtylee Well-Known Member

    Location:
    Dallas
    Driving:
    UberX
    Uber does ~20 - 25 billion in bookings a year. 20% of that is $4 - 5 billion.

    Assuming 20k staff all making $150k, that's $3b. Add in extremely generous executive pay & servers for another $1 billion/year.

    These morons still blow another $2 - 3b past that a year.
     
  20. ColdRider

    ColdRider Well-Known Member

    Location:
    Chicago
    ‘‘Tis why you can deduct your miles.
     

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