Uber and Lyft Can't Find Drivers Because Gig Work Sucks

[Domingo Halliburton]

For all of 2020, Uber’s net losses amounted to $6.77 billion, around a 20% improvement from a staggering $8.51 billion loss in 2019.

It's a fukking shell game. Do you guys realize 80%+ of these companies go public at a negative earnings per share?

Like, some venture capitalist (or whoever) funds them, they all lose money on some dream in the future where they're profitable...they IPO and cash out. Meanwhile they sell this dream, let the public eat the losses while the rubes buy a lottery ticket hoping they'll be successful in the future.

Tale as old as time.

 

[Mook]

It's a fukking shell game. Do you guys realize 80%+ of these companies go public at a negative earnings per share?

Like, some venture capitalist (or whoever) funds them, they all lose money on some dream in the future where they're profitable...they IPO and cash out. Meanwhile they sell this dream, let the public eat the losses while the rubes buy a lottery ticket hoping they'll be successful in the future.

Tale as old as time.

Yeah this has got to be money laundering in tech.

Uber is egregious though. They take 25% and basically do nothing. How can u not profit?

 

[Capital Steez]

This article actually breaks down the biggest reason for the price hikes.

It’s primarily due to these companies no longer getting huge influxes of venture capital cash to burn for customer acquisition purposes. They now, actually have to be profitable.

The days of $3-10 ubers/lyfts are gone. Along w/ the cheap Airbnb’s, cleaning services, etc.

 

[SubZeroDegrees]

shyt is hilarious. Killed the taxi industry only become even worse. Now taxi companies gonna come back.

Uber charge $20 more for my NYC trip than taxis.

Taxis are really coming back in the big cities.

 

[MikelArteta]

Uber charge $20 more for my NYC trip than taxis.

Taxis are really coming back in the big cities.

yeah i took an uber the other day, that trip used to be like 12 dollars for me from my house to the nearest subway station. With a pool it was like 9, its now 18 dollars and no uber pool back yet.

 

[Atlrocafella]

Damn, taxis really about to make a comeback?

 

[Secure Da Bag]

Uber and Lyft paid shyt rates to the drivers. Plus they made the routes longer. So, drivers left.

 

[bnew]

Uber charge $20 more for my NYC trip than taxis.

Taxis are really coming back in the big cities.

not surprised, uber and lyft were subsiding rides and that couldn't last forever.

the industry was regulated for a reason, eventually regulatory capture by corporations and private equity financiers happened. the medallions ended up being a financial albatross for a lot of drivers. the drivers that committed suicide just did the math and realized they'd never be able to pay it off.

not sure if they're still screwing the drivers over with the commission rate they take from each credit card charge including the tips.

Taxi Fare - TLC

uber is a costly middleman

 

[Crayola Coyote]

I'm rooting for them because fukk taxis. My shyt is personal. Can't tell you how many early mornings, I had to ask drunk white girls to get a taxi for me in DC when cabs would just pass me by.

you see this shyt. I heard stories those Indians dudes would drive right past brahs waiting for a ride.

 

[Robbie3000]

you see this shyt. I heard stories those Indians dudes would drive right past brahs waiting for a ride.

It was a lot of African brehs doing that shyt. Including nikkas from my own country. I usually don’t celebrate other people’s misfortune but these nikkaz had a level of arrogance and ignorance that made me genuinely happy to see their industry implode.

 

[PoorAndDangerous]

Why drive Uber when you can just DoorDash for people? The worst part is the automobile industry destroyed public transportation in this country, and good luck rebuilding or improving it in this shythole

 

[Bubba T]

This article actually breaks down the biggest reason for the price hikes.

It’s primarily due to these companies no longer getting huge influxes of venture capital cash to burn for customer acquisition purposes. They now, actually have to be profitable.

The days of $3-10 ubers/lyfts are gone. Along w/ the cheap Airbnb’s, cleaning services, etc.

I went to Denver last month and paid $70 to go from the airport to downtown Denver. Was not expecting that. Later, I found that a train ride would of cost me $10.50. Game has changed.

 

[Mr swag]

I'm rooting for them because fukk taxis. My shyt is personal. Can't tell you how many early mornings, I had to ask drunk white girls to get a taxi for me in DC when cabs would just pass me by.

DC was hella bad.

 

[Crayola Coyote]

It was a lot of African brehs doing that shyt. Including nikkas from my own country. I usually don’t celebrate other people’s misfortune but these nikkaz had a level of arrogance and ignorance that made me genuinely happy to see their industry implode.

oh damn never knew that

 

[Pop123]

I didn't read the article, pardon me, but I find it weird how some people lift their nose up at "Gig" jobs like this...my cousin does Uber and he literally makes at least $1000 every week. He told me if he went harder he could probably make $1500. He got a beautiful apartment and a nice 2019 Audi in the driveway.

Salute to all yall out there gettin that paper man...this time in our history is the best time to get to a check.