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I was talking to a friend because I thought about doing some Ubering in my spare time until I wrecked my car. He's a former taxi driver in Houston who said the whole Uber system just doesn't work in the long term. Now without a car living in a small town, we've got one Uber driver here who almost never drives.
I work in the service department for a car dealer (admin) and we have Uber drivers coming in once per month after putting 5K miles on their car. They biatch when a 2016 vehicle that cost about 30K has 140K miles and in need of expensive repairs.
I can always spot them...
A few who went into some details with me are looking to get out...
I've found that those who have their own cars tend to make out a little better than that. Its those who are using Uber financing to secure a vehicle who are really struggling.
Could say that about 85% or more of these new "tech" businesses; but that's it isn't it? Founders and early investors make out like bandits after IPO, cash out, then leave everyone else holding the bag.
I mean just what exactly does Facebook do that makes Mr. Zuckerberg and that sister/family of his worth billions? As Ms. Betty White famously quipped "... it's a colossal waste of time".
Ok, can see Amazon.com and the purpose of some others, but all this money being made out of nothing such as Snapchat or whatever is just proving that old line about a sucker being born.....
I've found that those who have their own cars tend to make out a little better than that. Its those who are using Uber financing to secure a vehicle who are really struggling.
Uber and similar companies began on that model; persons who owed or otherwise had access to a private vehicle making money. Once you get away from that, it is as you say; costs of renting/financing often make the thing a sucker bet. Person becomes caught in a circle CF; they cannot stop because need to make payments. But they aren't bringing in much from Uber to make the thing worthwhile.
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