But hey, they are free to choose their own times and rides. You surely cannot put a price on Freedom. You get screwed a bit, well a lot but it is all for the greater good.
Uber and Lyft drivers' median hourly wage is just $3.37, report finds
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Re: Uber and Lyft drivers' median hourly wage is just $3.37, report finds
#52I question the authenticity of the $3.37 number when I see that the paper this article references was published by an organization funded by these bodies:
Alliance of Automobile Manufacturers, BP, ClearPath Foundation, Conoco Phillips, Duke Energy, Electricité de France, EnBW, ENGIE, ENI, Eversource, Exelon Corporation, ExxonMobil, Gas Natural Fenosa, GE, Golden Spread Electric Cooperative, Inc., Iberdrola, IHI Corporation, EDPC J-Power, Kiewit Energy Group Inc., National Grid, Norwegian Ministries, PSEG, Southern Company, Swedish Energy Agency, Toyota Motor Corporation, TransCanada Corporation
I think Uber/Lyft economics are problematic, but these guys have pretty solid incentives to make Uber/Lyft look unviable.
Re: Uber and Lyft drivers' median hourly wage is just $3.37, report finds
#53Earlier quoted context omitted.
5 years ago I was told the same thing, and 5 years before that. Maybe 5 years from now, but it’s been the same story forever.
You saw a driverless car (with a safety driver) drive past you five and ten years ago?
In October 2010, Google announced that they'd logged 140,000 miles with a self-driving car, with a driver, including through San Francisco and a lot of California [1]. So eight years ago is possible, and I'm willing to grant a little hyperbole here.
[1] https://googleblog.blogspot.com/2010/10/what-were-driving-at...
Re: Uber and Lyft drivers' median hourly wage is just $3.37, report finds
#54This doesn't surprise me at all and it's because of hidden costs incurred by the driver, combined with an implicit bidding system that drives down wages. Hidden costs: 1. Vehicle wear and tear (cars cost you money when you drive them) 2. Vehicle depreciation (cars cost you money even when you aren't driving them) 3. Interest and fees associated with auto loans and leases 4. Insurance premiums 5. Gas 6. Unexpected/unp…
The insurance point deserves further discussion - in many states your normal coverage is voided by driving for profit. So if you get into an accident where they can prove you were working, you aren't going to get anything. I know many people who are driving for Uber and Lyft and have no idea about this
Re: Uber and Lyft drivers' median hourly wage is just $3.37, report finds
#55Earlier quoted context omitted.
They are basically biding their time until driverless cars take off it seems.
Driverless cars in urban areas are decades away
I see those stupid robot cars all over the Phoenix metro area these days, whole packs of them roam Chandler/Tempe/Scottsdale areas.
Now they have permits to run around 100% humanless apparently.
Re: Uber and Lyft drivers' median hourly wage is just $3.37, report finds
#56This doesn't surprise me at all and it's because of hidden costs incurred by the driver, combined with an implicit bidding system that drives down wages. Hidden costs: 1. Vehicle wear and tear (cars cost you money when you drive them) 2. Vehicle depreciation (cars cost you money even when you aren't driving them) 3. Interest and fees associated with auto loans and leases 4. Insurance premiums 5. Gas 6. Unexpected/unp…
When my girlfriend traded in her car, they asked if it was ever used as a taxi/uber/lyft.
Re: Uber and Lyft drivers' median hourly wage is just $3.37, report finds
#57As a former pizza delivery guy, this seems odd to me. Before expenses, I’d make between 12 and 20 an hour depending on the night. The car I drove then had a KBB value of less than $3000 and it would have been eligible to use as an Uber. I just don’t see how you could possibly have such high levels of expenses unless you were paying like $600 a month for your car.
Re: Uber and Lyft drivers' median hourly wage is just $3.37, report finds
#58That seems too low. Most drivers I use have been doing it for years. They wouldn't at those rates.
The recent internal Uber study found that long-term drivers learn how to optimize their rides for the highest fares. So there are significant differences between what the median driver makes and what the "pro" Uber drivers make.
Re: Uber and Lyft drivers' median hourly wage is just $3.37, report finds
#59Uber is losing billions and their drivers are making peanuts. That sounds sustainable.
It's sustainable because we're on the cusp of the autonomous vehicle revolution.
https://www.nytimes.com/2018/02/26/technology/driverless-car...
This is similar to how the huge army of people stuffing DVDs into envelopes at Netflix is going away. It might be slow, but I don't think there will be tons of people watching DVDs from them in 2030... https://www.cnbc.com/2018/01/23/netflix-dvd-business-still-a...
Re: Uber and Lyft drivers' median hourly wage is just $3.37, report finds
#60This doesn't surprise me at all and it's because of hidden costs incurred by the driver, combined with an implicit bidding system that drives down wages. Hidden costs: 1. Vehicle wear and tear (cars cost you money when you drive them) 2. Vehicle depreciation (cars cost you money even when you aren't driving them) 3. Interest and fees associated with auto loans and leases 4. Insurance premiums 5. Gas 6. Unexpected/unp…
The insurance point deserves further discussion - in many states your normal coverage is voided by driving for profit. So if you get into an accident where they can prove you were working, you aren't going to get anything. I know many people who are driving for Uber and Lyft and have no idea about this
Uber and Lyft both now verify that you have supplemental insurance. It's kind of screwy. If you have a passenger in the car, Uber/Lyft coverage is in place. If you are driving around working but no passenger, it's the driver's rideshare insurance - which is typically a rider on their personal policies. This probably changes regionally, but that's how it works in California.