Is Uber a fool's game

Lies, damned lies, and statistics.
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Rob Lister
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Re: Is Uber a fool's game

Post by Rob Lister » Tue Dec 20, 2016 12:58 pm

ed wrote:Sounds like BS to me.
Insiders tell the Wall Street Journal that the losses resulted from big spending on promotions to attract new drivers, and on investment in new parts of the business like the UberEATS delivery service and the self-driving car project

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Re: Is Uber a fool's game

Post by ed » Tue Dec 20, 2016 1:03 pm

Investments maybe. Aren't they dicking around with driverless car tech? Right the quote mentions that.

Wonder how much is being diverted to the Caymans.
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Re: Is Uber a fool's game

Post by Rob Lister » Tue Dec 20, 2016 1:27 pm

https://www.ridester.com/how-much-do-uber-drivers-make/

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It appears that in the vast majority of the country, not many drivers are likely making more than $11 an hour. For every city other than New York, earnings range from about $8.80 – $11 an hour.

It’s important to note that the earnings figures in this chart are the *gross* earnings, meaning before Uber’s and Lyft’s commissions are taken out.
Uber's cut is 20%

This is also before gas, car payments, wear and tear, insurance, etc.

Fool's game.

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Re: Is Uber a fool's game

Post by Anaxagoras » Tue Dec 20, 2016 2:26 pm

Yep. But it's also easy. And probably there are tips in it too that were left out of the calculation.

That's why they would want driverless cars I presume. Not sure if they should be the ones developing it though.

But maybe there is a patent land rush for driverless car tech?
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Re: Is Uber a fool's game

Post by Anaxagoras » Fri Jan 20, 2017 1:45 am

Uber will pay $20 million for overselling to drivers
SAN FRANCISCO — Uber has agreed to pay $20 million for exaggerating how much its drivers could earn and encouraging them to lease cars through a 'low-cost' program the government says was anything but.

The agreement was made public Thursday in documents filed by the Federal Trade Commission in San Francisco. It alleges that Uber had engaged in unfair or deceptive practices.

Uber didn't admit to wrongdoing but did agreed to settle with the FTC. Affected drivers will be issued refunds, though the agency has not determined exactly how that will be accomplished.
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Re: Is Uber a fool's game

Post by Anaxagoras » Wed Mar 01, 2017 1:30 am

Video Shows Uber CEO Travis Kalanick Arguing With Driver Over Fares
Uber’s public relations crisis continues apace with no apparent end in sight.

On Tuesday afternoon, Bloomberg published a video in which CEO Travis Kalanick aggressively argues with an Uber driver who claimed he is earning less money after Uber cut fares. “Some people don’t like to take responsibility for their own shit,” Kalanick exclaims, after his driver says he lost $97,000 because of Uber. “They blame everything in their life on somebody else. Good luck!”
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Re: Is Uber a fool's game

Post by Rob Lister » Fri Apr 07, 2017 2:00 pm

Damn they're fucking assholes.
Uber said to use “sophisticated” software to defraud drivers, passengers

Class action says Uber's "methodical scheme" manipulates rider fares, driver pay.
https://arstechnica.com/tech-policy/201 ... assengers/

From the suit
The manipulation of prices between the amount charged to Users and the amount reported to drivers is clever and sophisticated. The software utilized in determining the upfront price is specifically designed to provide a route distance and time estimate based on traffic conditions and other variables but not to determine the shortest/quickest reasonable route based on those conditions. Meanwhile, the software utilized in the driver’s application, which navigates the drivers to the User’s destination, utilizes traffic conditions and other variables to provide the driver with a more efficient, shorter, or quicker route to the User’s destination, resulting in a lower fare payout to the driver.
In a nutshell

1) Customer uses app to request a ride to some location.
2) Uber quotes the customer a price using a non-optimal route that is longer in distance and time than necessary.
3) Uber directs the driver to take the optimal route.
4) Driver gets paid for the shorter route he took, not the longer route the customer paid for.

That's fucked up. I don't know if it is illegal.

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Re: Is Uber a fool's game

Post by ed » Fri Apr 07, 2017 3:14 pm

Fraud
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Re: Is Uber a fool's game

Post by Abdul Alhazred » Fri Apr 07, 2017 3:20 pm

At least in New York City the "medallion" cabs will drive you all over the city to drive up the fare.

So you get your money's worth. :)
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Re: Is Uber a fool's game

Post by WildCat » Fri Apr 07, 2017 6:40 pm

ed wrote:What sort of costs does uber have? Their app is pretty cool but that is sunk.
That's what I'm wondering. How the hell can they lose money when the "employees" pay for 95% of the expenses?
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Re: Is Uber a fool's game

Post by Grammatron » Fri Apr 07, 2017 6:43 pm

WildCat wrote:
ed wrote:What sort of costs does uber have? Their app is pretty cool but that is sunk.
That's what I'm wondering. How the hell can they lose money when the "employees" pay for 95% of the expenses?
Advertising and rapid, global expansion. Lawsuits in multiple cities, states, and countries aren't cheap. Investment into self-driving cars as well.

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Re: Is Uber a fool's game

Post by Anaxagoras » Sat Mar 03, 2018 11:06 am

MIT has done a study. Here's the upshot:

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The upshot? The researchers found profit from ride-hail driving to be “very low”. On an hourly basis, the median profit was $3.37 per hour, with 74% of drivers earning less than the minimum wage in the state where they operate.

They also found a median driver generates $0.59 per mile of driving but incurs costs of $0.30 per mile; and almost a third (30 per cent) of drivers were found to incur expenses exceeding their revenue or to be losing money for every mile they drive.
For more details:

MIT study shows how much driving for Uber or Lyft sucks
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Re: Is Uber a fool's game

Post by ed » Sat Mar 03, 2018 11:51 am

Did the idiots at MIT consider that Uber does not require drug testing?

My understanding here in Fla is that the trades that drug test cannot find employees. So where do the druggies go to make $ for dope and munchies?

Seems to me that the hourly rate is probably ok.
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