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Uber may be the highest-valued private company in the world, but its economic troubles are profound and concerning.
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Uber stole all their self-driving car technology from the Waymo Company the Alphabet/Google Self-Driving Car Company (Over 2,000 pages of Documents not just diagrams and lists of parts but programing code as well!), They also have the whole legal backlash over their test self-driving car killing the girl earlier this year!
Google/Waymo and Tesla will be the real giants to push self driving cars forward, Lyft & GM are said to be working with Waymo to get the cars out first while being faster (via cloud sharing traffic data and routes!) while being much safer than Uber's, Uber is rumored to be working with Ford to make these cars when they get the technology right but seeing they are in legal battles with Google forcing Uber to waste time and money in court while also stopping them from using the stolen tech until the matter can be resolved forcing Uber to waste more money in creating their own version of the stolen Google/Waymo hardware & software which cost them money yes but arguable more important time giving companies (like Waymo, GM, Tesla!) a huge market share before Uber can even get theirs out the door!
Tesla & Waymo have stated they have no plans to work with Uber or even allow them to purchase their cars or tech despite the amount as Uber is already so large and greedy that if they helped Uber it would be like letting your kids feed a wild bear Not a Good Idea!
As a former part time Uber driver, I’m fascinated by the company’s business philosophy as well as their rapid growth over the past decade.
I agree with this video’s analysis that the future of Uber is with self-driving or possibly self-flying drone taxis. Uber will need to successfully adopt autonomous driving technology and compete with the likes of Google and Volkswagen to survive.
If Uber makes transition to autonomous driving technology, it will become a major transportation company rather than a ride sharing platform.
They have a lot going for them and I wish them luck but only time will tell if Uber will succeed medium to long term.
Do not get a GM vehicle do not trust a GM vehicle. For the past 20 or so years they've been making them shit. And now they're pulling out of the United States I will not trust a self-driving GM vehicle if they get a deal with Honda or Toyota that I'm definitely more willing.
uber is the ultimate dude-bro scam. they carry none of the actual costs of business and take the lions share of the cut. granted, they cover marketing but NO business expenses and carry no business costs, ie ... workers comp, unemployment insurance, employer FICA, Medicaide matching contributions. thts not clever, its a con-man/slavemaster mentality. and the idea that the company is worth billions when its never turned a penny in profit (because of excessive executive pay) is unbelievable.
.......look at the track record of Uber.... clearly it is a criminal organisation..Those who sing praise to Uber are the trash of their societies being only interested in selfishly saving a measly buck.
What was Uber spending tens of millions of dollars daily doing? I thought you said they had no risk and were essentially just skimming profits off the top of the drivers. You mention a lack of service/consumers, but essentially they run an app and rent/own some servers. What is costing them so much? ;-;
$8.55 per hour after expenses works for me. It’s a very pleasant way to spend the day. (I’m retired from a 30 year pressure job). I drive my own car and usually have enjoyable conversations with my customers. If I needed more than $8.55 per hour I would bust my brain figuring out how to get it. Uber operates on supply and demand and I don’t think complaining about wanting more money will work. “Don’t get mad, don’t get even, get ahead”
Uber is not a sustainable buisness.the riders are expendable and WILL be once investors' sell their shares when the company corruptly goes public.They have data to sell and thats about it.... thing is rides can be so random their stats are like a dog poo.....does make me chuckle how so many ididots have fell for the biggest scam on earth lol
Driving a taxi certainly wasn't so great either.
Granted, it's a different country, and somewhat different conditions apply...
But I witnessed a lot of taxi drivers getting very low wages that functionally are below minimum wage by quite a margin.
When you're making $250 for a 12 hour shift on a GOOD day, Oh, but you have to pay for half the fuel cost... And half of your money goes to whoever owns the taxi... (Taxi licenses being quite expensive, as per the example), Still, you may nonetheless pocket that $250
Fine, sure. But that's only on a GOOD day. Only if it's busy. And only if you get lucky, hang out in the right places, and try to ensure you get lots of short trips, rather than a few long ones. (and that nobody sends you out into the middle of nowhere forcing you to drive back to a more sensible location with little chance of a fare along the way.).
On a bad day... Count on getting $70
And if you do this 7 days a week... Count on your total weekly wage to be somewhere around $800 at most.
OK, fine. Sure. But you've just worked 7x12 hours to earn $800. That's 84 hours, to earn $800 - let's round that up for the hell of it. You earn $10 an hour.
So, what's the problem here? Well, you live in a country where the official, legally mandated minimum wage is about $21 an hour. (And quite a bit higher for people that work nights or on saturday or sunday evening especially -and you HAVE to work these periods to stand any chance of making that $800 - your busiest times are friday and saturday night.)
So, through some peculiar legal oversight, you earn about half of minimum wage (if you're lucky), and are at risk of being assaulted or robbed or otherwise messed with on a regular basis (and the risks of this are highest at the same periods when you're most likely to make money, thus difficult to avoid), the police have it in for you (they'll fine you for the slightest thing at a rate vastly higher than a normal driver)...
Quite the job, huh.
The low prices would have obviously led to drivers exiting. The worst thing to do was to reward drivers throwing tantrums by making limiting the supply artificially with government force. In both cases, you get less drivers. In the later however, the supply is now artificially set rather than a function of market forces.
Sir, Mr. Tony West
Chief Legal Officer
Will you consider adding to Uber's Drivers/Riders Support Staff in order to improve response time for everyone? Days-to-weeks at a time of "time out" or deactivation of us Drivers & Riders by your Algorithm, and no one is there to override it. Keep in mind that higher-end vehicles and commercial insurance is a large investment.
Once a Driver or a Rider has filed a request for fact-finding (Discovery) with the UBER Registered Agent of their state, do they still have to appear in person in The Netherlands?
UBER Black/SUV Driver
self driving cars maybe plausible in developed countries but introducing self driving cars in developing is very difficult. And uber cannot use fail fast strategy here to get an advantage since human lives are at stake now.
This company is a scam. They came up with a new system (Uber 180 days) to get $50 off every driver everytime they get a moody rider who decides to give them 1 star.
Out of 434 rides, I have 413 rides 5 stars.
15 are 1 star. (The rest is 4 and 3 stars)
Those were people who threw up in my car, damaged it, people who wanted to smoke inside the vehicle, was aggressive and so on.
My account was deactivated because my rating fell below 4.70
Now they want me to pay $50 to reactivate it with no promises of future deactivations.
Basically Uber is preparing all of there customer to ride in self driving cars they are losing money to gain a customer base. Then they will cut the driver and start making profit when self driving cars be widely available... Clever devil
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Do not work for these app based jobs, we are telling these rich corporations that we like working for minimum wage or less, for no benefits, while devaluing your only asset....Does that sound good to you? Uber, uber eats, grubhub, doordash, they are getting rich, they recently lowered pay, and increased fees...That's when they became even more valuable...But i guess we love it, nobody is complaining....The rich like us stupid.....We are all just suckers working for the rich.....
ALL DRIVERS DO THIS..........TURN DOWN 5 RIDES PER WEEK. TELL THE CUSTOMER BECAUSE OF THE RATE DECREASE IN OUR PAY THIS RIDE NO LONGER PAYS ME ENGULF AND FOR THAT REASON I WILL NOT TAKE YOU. PLEASE GET OUT OF MY CAR AND CALL UBER LYFT AND TELL THEM TO PAY THE DRIVERS BETTER SO I CAN GET A RIDE. PASS THIS ON AND THE RATES WILL GO UP. YOU ARE NOT REQUIRED TO TAKE ANY RIDE.
Dont drive for these companys. I know alot of you probably hate a warehouse job buy but, reality is, you end up breaking your car and be unamployed in a short mater of time. They dont pay enough to cover a new transmission engine overhaul and other work related wear and tear.
Prediction: Uber and Tesla or going to merge or form a partnership in the not-too-distant future mark my words.
And if it's not those two companies, it'll be two companies from their respective Fields who recognize the weakness in their own business strategy and try to fill it with a merger. Uber wants in on driverless cars, Tesla is in a great position to help with that. Tesla would like to cover its butt by getting a piece of the transportation/ride-sharing economy. They can each take a large Leap Forward by plugging in the strength of each company into one really strong company.
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