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Uber's Bubble is Going to Burst

Discussion in 'News' started by Jazzbaseball, Dec 4, 2016.

  1. Jazzbaseball

    Jazzbaseball Active Member

    Location:
    Mineapolis
    Driving:
    UberX
    I was reading an article, http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11760148 on the possibility of Uber's rates increasing four times their current rates at some point.

    The company is not profitable and as far as I'm concerned has billions in liabilities to investors. How can a company have a positive valuation when it will eventually have to repay investors and operates at negative cash flow?

    What are your thoughts?
     
  2. TwoFiddyMile

    TwoFiddyMile Well-Known Member

    Location:
    charlotte
    Driving:
    Taxi
    There's a few threads about Horan's views.
    I agree with him.
    And I wait for my taxi money to roll back in again.
     
  3. tohunt4me

    tohunt4me Well-Known Member

    Location:
    new orleans , la.
    The bu
    The Bubble has Burst.
    Get out of the soap film before it dries and you are stuck !
     
  4. Taxi Driver in Arizona

    Taxi Driver in Arizona Well-Known Member

    Location:
    Arizona, The Grand Canyon State.
    Driving:
    Taxi
    Unfortunately Uber has around 6 years worth of money to lose.
     
    Chicagochas and UberIsAllFubared like this.
  5. Mears Troll Number 4

    Mears Troll Number 4 Well-Known Member

    Location:
    Orlando
    Driving:
    Taxi
    When the incentives stop flowing it's going to cascade into oblivion...
     

  6. freediverdude

    freediverdude Active Member

    Location:
    Tampa, FL
    They're going to try to completely control the taxi market in the next few years, and then if they do that, they will have the leverage to raise rates, and basically we will be taxi drivers at that point.
     
  7. TwoFiddyMile

    TwoFiddyMile Well-Known Member

    Location:
    charlotte
    Driving:
    Taxi
    At the risk of sounding like a broken record, Uber has been around 6 years.
    Isn't that THE 6 years?
    Isn't that why they took out a 4 billion dollar loan at junk interest rates?
     
  8. TwoFiddyMile

    TwoFiddyMile Well-Known Member

    Location:
    charlotte
    Driving:
    Taxi
    Yes that's Ubers plan.
    Let me patiently explain what's wrong with it.
    Uber pax are not taxi pax.
    Uber pax used to drive sober to nightclubs and events, and drive drunk back to their home.
    They were never taxi pax.
    Too cheap to spend $50 on cabs plus booze and food money.
    Once Uber got cheaper than $1 per mile, the New Uber Pax was invented.
    Let's say Uber kills the taxicab, and raises the fare to or above taxi prices.

    The New Uber Pax goes back to their old drunk driving ways.
    The ones who ditched their cars will buy new cars.
    The ones who used to bus and subway to work will go out and by a metro subway transit pass again.
    Game over.
     
  9. Milito

    Milito Well-Known Member

    Location:
    Miami
    Well said buddy, i drive a cab in Miami and the only demographic we lost are the university students that are a pain in the buttocks, i had to change my routine but in the end i am still making the same money i made before uber
     
  10. phillipzx3

    phillipzx3 Well-Known Member

    Location:
    Portland, Oregon
    Same with our cab company. Uber took the people we didn't really want in the first place. Now that Uber drivers are getting the pukers and the snot-nose college brats, life is good as far as I'm concerned.
     
    Kembolicous, Drebee, Mitch J and 11 others like this.
  11. BaitNSwitch

    BaitNSwitch Well-Known Member

    Location:
    CHI
    YES. Totally different clientele on the Uber platform.

    Although not 100% true, but majority, yes. Too cheap to want to hail a cab.
     
  12. phillipzx3

    phillipzx3 Well-Known Member

    Location:
    Portland, Oregon
    Those nasty cab companies and their 3-4x surge rates. ;-)
     
  13. andaas

    andaas Well-Known Member

    Location:
    Dallas
    Driving:
    Lyft
    Not defending Uber, however, traditional "taxi" service was never a convenient option once outside of a city center. It could take anywhere from 30-60 minutes for a taxi to arrive at a hotel in the suburbs (usually closer to the latter).

    This, and not COST, is why many people despised being "safe" and paying for transportation and thinking they could drive after being out partying. Not to mention the fact that many taxi's just weren't well kept in terms of cleanliness, etc.

    Obviously, the Uber method of throwing 1000's of drivers wandering for pennies/mile is not the solution - but the "non-taxi pax" you speak of were only not choosing you because the service - and not the price - did not work for them.
     
  14. everythingsuber

    everythingsuber Well-Known Member

    Location:
    Adelaide
    Pretty well every cab that was on the road before Uber came along is still on the road. Don't know any Uber drivers earning what cab drivers earn in Australia. Uber will never have leverage to raise rates. It's a waiting game Uber can't IPO while it's bleeding money at current rates Uber can't raise rates and be competitive Uber still has legal issues with Billion dollar implications to settle. Personally where I am Uber have been operating 6 months and I'm earning more than I was as a cabbie than before they began operation here. On the other hand Uber drivers here earn 7 dollars an hour after expenses and driver turnover is phenomenal. We just sit and wait.
     
  15. Blackout 702

    Blackout 702 Well-Known Member

    Location:
    Las Vegas
    Right, so Uber did you a favor and made your life better. And that's why cabbies hate Uber drivers so much, and why they join this forum just to talk about how great their lives are. I'm afraid you guys aren't very convincing, but that's ok. When you are completely out of business you can still take an Uber anywhere you'd like to go. Just tell the driver how you used to be a cabbie back in the olden days. Maybe they'll give you a free breath mint.
     
  16. TwoFiddyMile

    TwoFiddyMile Well-Known Member

    Location:
    charlotte
    Driving:
    Taxi
    Do you offer breath mints?
     
    Kembolicous, negeorgia and rembrandt like this.
  17. Blackout 702

    Blackout 702 Well-Known Member

    Location:
    Las Vegas
    For you I'd gladly make an exception.
     
  18. RamzFanz

    RamzFanz Well-Known Member

    Location:
    Saint Louis
    Na. Self driving cars will be a thing long before Uber, who is already profitable in many markets, will run out of cash. If they needed to be profitable at this point, they could be tomorrow.
     
    Lilmsmisses likes this.
  19. TwoFiddyMile

    TwoFiddyMile Well-Known Member

    Location:
    charlotte
    Driving:
    Taxi
    Lol.
     
  20. Peanut hello

    Peanut hello Active Member

    Location:
    Louisville
    me too , I am still making the same money on my cab,I do medical vouchers,
    some taxi customers are still coming back.
     
    melusine3 and ChortlingCrison like this.

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