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Old 08-13-2019, 01:45 PM
KCZ
 
1,732 posts, read 1,004,886 times
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Quote:
Originally Posted by Lowexpectations View Post
Uber has insurance when you are enroute or during a customer trip

https://www.uber.com/us/en/drive/insurance/

I wonder if Uber's insurance company vets every single Uber driver. If not, they must charge a pretty hefty premium to cover a bunch of unknown drivers with unknown driving habits in unknown vehicles carrying customers to unknown places at all hours of the day and night. I'd think insurance is contributing significantly to Uber's red ink.
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Old 08-14-2019, 04:47 AM
 
Location: Oregon, formerly Texas
5,478 posts, read 3,811,617 times
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I guess that self-driving, pedestrian-killing technology wasn't such a great investment after all.
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Old 08-15-2019, 07:33 AM
 
2,166 posts, read 636,999 times
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Quote:
Originally Posted by KCZ View Post
I wonder if Uber's insurance company vets every single Uber driver. If not, they must charge a pretty hefty premium to cover a bunch of unknown drivers with unknown driving habits in unknown vehicles carrying customers to unknown places at all hours of the day and night. I'd think insurance is contributing significantly to Uber's red ink.
They should have the data analytics required to mitigate risk and pass appropriate level of premiums on to the driver depending on their behavior
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Old 08-15-2019, 08:04 AM
 
Location: San Francisco
2,392 posts, read 561,509 times
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The business plan for Uber, ultimately, is to make an investment in the next decade and change the way we think about owning and maintaining cars by focusing on long-term, ‘every day’ expansion among consumers.

Uber is simply prioritizing growth over profitability in the same way Amazon did in its early days. That said, Uber no longer has its version of Bezos - some feel Khosrowshahi lacks the ‘edge’ of the former CEO/founder Kalanick (although he is certainly less controversial).
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Old 08-15-2019, 09:05 AM
 
Location: Ontario, NY
2,745 posts, read 6,269,954 times
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Quote:
Originally Posted by CorporateCowboy View Post
Uber is simply prioritizing growth over profitability in the same way Amazon did in its early days.
While it's true Amazon lost money for almost 6 years before turning a profit, Amazon losses where much more modest, in the 200 to 300 million dollar range a year, and about 1 billion net loss in 2000. You have to seriously question how long a company can continue to take loses in the 5 billion range a quarter before investors lose confidence in it.
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Old 08-15-2019, 12:13 PM
 
Location: San Francisco
2,392 posts, read 561,509 times
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Quote:
Originally Posted by TechGromit View Post
While it's true Amazon lost money for almost 6 years before turning a profit, Amazon losses where much more modest, in the 200 to 300 million dollar range a year, and about 1 billion net loss in 2000. You have to seriously question how long a company can continue to take loses in the 5 billion range a quarter before investors lose confidence in it.
Investors (at least for now) are focused on the bigger picture, which has openly been Uberís business plan all along (growth over profit). Itís estimated Uber has a $12 trillion total addressable market in terms of expansion (and it doesnít hurt to note $3.9B of the quarterly loss is a result of stock-based awards after its IPO).
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Old Yesterday, 12:02 PM
 
Location: Ontario, NY
2,745 posts, read 6,269,954 times
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Quote:
Originally Posted by CorporateCowboy View Post
It’s estimated Uber has a $12 trillion total addressable market in terms of expansion
12 trillion sounds overly optimistic, take freight shipping in his example, how many people really have a tractor trailer available that they can moonlight on the side driving freight for Uber? People utilizing there personal vehicles for passengers or take out movie deliveries is one thing, getting into freight delivery is quite another. Not to mention they have to compete against Lyft, it's not a virgin market with no competitors.
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Old Yesterday, 12:13 PM
 
1,190 posts, read 544,809 times
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Just rode an Uber for the first time in a while yesterday, was interesting to hear the driver said Uber has slashed the cleaning reimbursement if a passenger gets sick in your car from $200 to $40.

Cost cutting apparently is happening.
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Old Yesterday, 12:20 PM
 
2,623 posts, read 1,063,056 times
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Quote:
Originally Posted by mathjak107 View Post
we were in the villages in florida checking it out ..we wanted to use uber to take us to a theater within the village and pick us up at 10:30 pm ...

they had only two uber drivers in the area and both said they don't work after 9 pm .

the area has no need for lyft or uber since everyone drives or has friends who do. the villages are a 130,000 people community ....

even cabs said they close at 8:30 pm ...so we did not got to the show .
Interesting article on the Villages. Evidently there's a lot of 'fun' there. https://slate.com/human-interest/201...p-history.html
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Old Yesterday, 12:28 PM
 
Location: Business ethics is an oxymoron.
1,927 posts, read 2,305,921 times
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Anyone stupid enough to BECOME an Uber driver deserves the financial haircut they'll get. Just like those who buy into pyramid....I mean....MLM schemes.
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