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Despite gaining 31% more riders, Uber has been steadily losing money since its IPO announcement.
So?
I have no sympathy for morons who were stupid enough to buy Uber stock. The whole concept of buying stock in a cab company is stupid.
That's their problem, not mine.
You don't need a BA/BS in economics, marketing, finance, accounting, supply chain management or anything else to figure out that once the market is saturated, that's it: Game Over.
There's a finite number of people who will ever use a taxi service no matter how much money is spent on slick advertising.
Anyone who thinks people are going to stop driving to work and pay an Uber driver to take them back and forth probably shouldn't be allowed near money.
I've never met an Uber driver, but I have talked to a couple of Lyft drivers, and apparently, it is easy to game the system, meaning the driver gets more money.
One Lyft driver told me if he has an airport run, he'll say the person never showed, and then drive 3 people to the airport at $25 each ---$75 -- which is the going rate here and pocket the money. (the Greater Cincinnati Airport is actually in Boone County, Kentucky which is confusing to passengers who think they're in Cincinnati when not only are they not in Cincinnati they're not even in Ohio and Cincinnati is 30 miles away across the river and there's no public transportation).
Bread & Butter for taxi drivers here are "day rides." I don't know what they call them in other places, but these are people who taxi to work and ride the bus home.
That's usually because the buses don't start running in time to get to work on-time, or they have responsibilities like children, and after taking care of the children, there's no way a bus will get them to work on-time.
It's usually only a $6-$12 fare, but you got two or three of those a day, and that's a pretty steady income.
Some Lyft drivers do those "off the books" and I'd imagine smart Uber drivers do the same.
we had a golf cart , but it was to far , to dark and those roundabouts when you don't know them can be mind blowing ... the villages are 40 sq miles so there is a lot of mileage between some places
The villages are not an accurate representation of a Uber coverage map during nights compared with any other populated US city. The average dinner time in the villages has to be 4pm.
The villages are not an accurate representation of a Uber coverage map during nights compared with any other populated US city. The average dinner time in the villages has to be 4pm.
heck , we have an uber 2 minutes away around the clock here in nyc . other areas is a lot more baron ...
we went to a plantation about 20 miles from our hotel in charleston sc ... we took uber but when it came time to go home , not one uber .. we ended up calling our hotel who made arraignments with a car service .
so my point is lots of areas have few uber but don't need uber .
Last edited by mathjak107; 08-10-2019 at 10:06 AM..
Uber has always played with house money and has never had to be financially accountable.
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