Uber must have a viable business model that shows black figures in all areas they operate in. What does that calculation look like? I.e. what are the prices, driver compensation?
Uber Posts $5.2B Loss and Slowest Ever Growth Rate
181–190 of 516 posts
Re: Uber Posts $5.2B Loss and Slowest Ever Growth Rate
#182Earlier quoted context omitted.
Not all gig companies are the same. Uber is not a real business. Nothing about hiring a driver or maintaining or running a car is cheaper now than before Uber. Uber will never be profitable unless people are willing to pay the same amount as for regular taxis or for a private driver (i.e. expensive). Airbnb on the other hand is a real and vastly profitable business. Yes there need to be tighter regulations because we…
> Nothing about hiring a driver or maintaining or running a car is cheaper now than before Uber. Uber can use better scheduling algorithms to ensure higher utilization factor of their fleet. If a taxi driver is driving 50% of the time and waiting for a fare other 50%, while Uber driver is driving 90% of the time and waiting 10%, the price for Uber ride could be lower while ensuring the same income level for the drive…
And yet, in practice, the idle and unpaid transit time for rideshare drivers is still quite high.
Re: Uber Posts $5.2B Loss and Slowest Ever Growth Rate
#183Glad they're down, and hope the whole "gig economy" burns down too. Where gig economy = padding the loss of decent jobs by replacing the bottom end with desperate deals where "non employed" employees, without regular salary, benefits, company provided work tools, etc., make a pittance, while the organizing company gets a cut from millions of transactions. In some cases, no jobs is better than subsistence/dead-end/exp…
Not all gig companies are the same. Uber is not a real business. Nothing about hiring a driver or maintaining or running a car is cheaper now than before Uber. Uber will never be profitable unless people are willing to pay the same amount as for regular taxis or for a private driver (i.e. expensive). Airbnb on the other hand is a real and vastly profitable business. Yes there need to be tighter regulations because we…
Come on... that seems a bit dramatic. It just gets you from point A to B? It literally unlocks a ton of new point Bs that you could potentially never access or reasonable visit often.
Let's jump to Washington D.C. If you live in Northern Virginia or Maryland, you could take the Metro into town for a night out, but would almost certainly have a huge issue getting a cab driver to take you home.
Let's jump back to SF. North Beach to the Mission district. Separate sides of the town but without a cab, thats 2-3 bus transfers and forget even getting home late at night when it all stops running.
The accessibility aspect of Uber is massive. I don't think it's fair to discount that simply because the ride itself wasn't memorable...by that aspect, are airplane companies fake businesses? Does anyone really brag about the wonderful economy experience they have on Delta vs. United vs. American Airlines? Not really, but they certainly talk about the accessibility those services offer.
Re: Uber Posts $5.2B Loss and Slowest Ever Growth Rate
#184Earlier quoted context omitted.
Could you elaborate how much were fares before they removed subsidies and after?
I used to take Uber pools at around 4-5$ in San Francisco. Now it rarely is below 10$, which is too expensive for a service that is essentially very slow. Most of the time I go faster by walking or taking one of those electrical scooters.
Over what distance, may I ask?
Re: Uber Posts $5.2B Loss and Slowest Ever Growth Rate
#185Glad they're down, and hope the whole "gig economy" burns down too. Where gig economy = padding the loss of decent jobs by replacing the bottom end with desperate deals where "non employed" employees, without regular salary, benefits, company provided work tools, etc., make a pittance, while the organizing company gets a cut from millions of transactions. In some cases, no jobs is better than subsistence/dead-end/exp…
Not all gig companies are the same. Uber is not a real business. Nothing about hiring a driver or maintaining or running a car is cheaper now than before Uber. Uber will never be profitable unless people are willing to pay the same amount as for regular taxis or for a private driver (i.e. expensive). Airbnb on the other hand is a real and vastly profitable business. Yes there need to be tighter regulations because we…
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Re: Uber Posts $5.2B Loss and Slowest Ever Growth Rate
#186Earlier quoted context omitted.
It's time to stop assuming startups are the solution to poor public policy. This is a thread topic in itself, but I cannot let the assertion stand ("any job is better than no job, what are you going to do about it?").
On the contrary, it's better to do something as in a startup, than to complain about public policy. When your system is broken, try to fix it, when that fails, workaround it.
But... it's an extremely specific viewpoint that Startup / Technology solution is the way to fix broken system.
For vast majority of people, the viewpoint would be that elected leaders making the "correct" decisions/rules (whatever we decide those are) is the actual long-term, proper fix. Technology is technology, it's a tool; and societal norms, rules, and regulations guide or decide how we use those tools.
Re: Uber Posts $5.2B Loss and Slowest Ever Growth Rate
#187It seems unfathomable the rate at which some of these companies lose money. When I think of asking an investor for money, I imagine having a to put together a pretty foolproof plan of action to get a return. How do companies like Uber, Tesla, or even Amazon early on convince investors to lose money year after year? Investors have never struck me as the patient type.
They call it "Tilt" in poker, you have a losing hand or two and start throwing money to try and recoup your losses.
I get your sentiments, but to me, it's like going on Tilt with someone else's money while they watch.
Re: Uber Posts $5.2B Loss and Slowest Ever Growth Rate
#188The recent realization by cities that these services are making traffic worse will induce more regulation which will make these services even less viable than they already are.
I heard on the news yesterday that 13% of all traffic in San Francisco is ride sharing vehicles, and that at any given time there are approximately 5700 ridesharing vehicles cruising around the city. Pretty stunning if you think about it.
It used to be a huge portion of SF traffic was people circling around looking for parking. The ride-share traffic is an improvement.
Re: Uber Posts $5.2B Loss and Slowest Ever Growth Rate
#189Glad they're down, and hope the whole "gig economy" burns down too. Where gig economy = padding the loss of decent jobs by replacing the bottom end with desperate deals where "non employed" employees, without regular salary, benefits, company provided work tools, etc., make a pittance, while the organizing company gets a cut from millions of transactions. In some cases, no jobs is better than subsistence/dead-end/exp…
Not all gig companies are the same. Uber is not a real business. Nothing about hiring a driver or maintaining or running a car is cheaper now than before Uber. Uber will never be profitable unless people are willing to pay the same amount as for regular taxis or for a private driver (i.e. expensive). Airbnb on the other hand is a real and vastly profitable business. Yes there need to be tighter regulations because we…
> I will never remember the car nor the driver.
I will never forget the truck, driven by a young man from Haiti whose temporary protective status was days from expiring, that had a hole rusted through the floor pan. It was a scary ass ride, but I genuinely felt he was getting as much as he could before having to go home.
I'll never forget the asshole from NJ who decided that, because we were both white, he cold go on a crazed anti-semitic rant about his home owner's association.
I'll never forget the driver who pulled his SUV over, went around the back, and took a leak--on a busy street in Philly--into a plastic bottle he had back there.
I'll never forget the young woman who couldn't hear me yelling at her to turn her music down, only to find out she was whacked out of her mind.
I'll never forget the interesting ride my wife and I had with a guy who paints commercial aircraft for a living. My wife works in aerospace, and previously in general aviation. Hearing about his contract work was pretty neat.
I'll never forget the older woman who only drives on Fridays to make enough money to go to the movies with her friends and buy popcorn. I was back-and-forth between home and away at the time, and she actually offered to let me join her and her friends at the movies that night because my wife was away and I had nothing better to do.
There are definitely forgettable rides. But I've had a good share of memorable ones myself.
It pays to be human.
Re: Uber Posts $5.2B Loss and Slowest Ever Growth Rate
#190Earlier quoted context omitted.
Taxi drivers had background checks,
They also carry appropriate insurance and have stricter punishments over traffic violations including DUIs.
> have stricter punishments over traffic violations
That certainly doesn't stop them from speeding, cutting you off, going straight from right turn lanes and generally driving very aggresively. Cab drivers are really one of the worst when it comes to following traffic rules, second only to urban bicyclists.