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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!
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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.
an uber driver really needs to become skilled in managing a business.. This is important when trying to make most profit. It requires being versed or having people that work for you to maximise tax saving and costs.. managing money, creating 401k.. and best utilizing funds in that 401k for your benefit (tax free)
If there were a medallion system for Uber drivers, it would give raises to some at the expense of blocking out the other drivers, as well as raising rates and lowering competition. As it is now, yes the drivers don’t get paid very much, but it must be paying enough that they are choosing it over working at McDonald’s or collecting government aid.
Right off the bat. First fact is 100% false. It may be the highest valued private American company (not sure) but there are many private companies worth more. Saudi Aramco, for example, is worth $780B. SASAC in China is worth $1.5 trillion. Skillshare should get their money back.
In my area, majority of the time Lyft is cheaper than Uber during the day. Like today, Uber wanted me to pay $30 for the same route and distance as Lyft wanted me to pay $25. At night, it depends on which drivers are riding because sometimes at night Uber is cheaper than Lyft but other nights it's vise versa. I usually try to go with the cheaper one. I found out you can donate to charities with the cents that add up to the next dollar on the Lyft app.
2:24 LOL, that was exactly what I have been discussing with my friends. Where are all those youtubers and influencers going to do once they stop being "famous"? They are spending too much time and for sure they are not saving that much for retirement.
Brilliant Video! But market dynamics are strong in this industry and Uber just seem to have changed it's strategy under the new CEO.
“Uber’s Massive Data Play” @parismarx https://medium.com/s/story/ubers-new-vision-is-a-massive-data-play-b7e59ec59d42
give 👍 for spreading the news
An Uber driver once told me she was given a rider in the middle of a sketch neighborhood. She waited there for 3 minutes, texting the person asking where they were at. At the end of the amount of time before she could cancel the ride, she was sent a text message from Uber stating it was a test to see if she'd stay parked in a sketch area. She passed.
it's surprising when you do calculation for taxi, you don't calculate the car depreciation, car maintenance and other stuff. they all come into play when calculating the profit by uber. that's not a fair comparison
Uber closed their company in my country (Trinidad & Tobago 🇹🇹) after not getting approval from the law. They refused to understand the problems the government were already facing with PH drivers (private taxi drivers or taxi drivers without permits). Uber refused understand that people get kidnapped, raped, murdered by PH drivers so they decided to write a distasteful letter stating that they were closing down business in the country. Without even trying to understand the matter they were dealt with they shouldn’t have even began the business
If you work for Uber you have no rights. They can fired you on whim. Plus they are liars, cheaters, and hypocrites. Stay away. No matter how desperate you are to pay bills, you can't win with this company without being a contemptible slave.
Interesting video, but I do have one problem with it. At the end, the video claims that the answer for Uber is self driving cars so they can avoid paying the drivers all together. However, if they do go to self driving cars, they would have to own the cars and buy the gas, which is exactly opposite of their model today.
Uber is successful because they by-pass the laws and Standard Regulations that Are put on Taxi Companies to keep you Safe. Like where i live, its Required for all Taxi's to have commercial insurance, But Uber doesn't provide commercial insurance to their drivers, and for drivers to get it, it would cost them more then what they would make driving for Uber. Not to mention their insurance doesn't cover Passengers, So when you are in an accident (at least around here) in an Uber and you get hurt, You have to rely on your own insurance or The personal insurance of the driver, and not Uber.
Uber cannot go public as it is involved in lawsuits and alleged violations of federal law and is unconstitutional. Uber is in violation of Federal Motor Carrier Rules, two Antitrust laws (Predatory Pricing and Vertically-Integrated Monopoly), and fraud (false promises of income). State-by-state legislation is unconstitutional as it allows Uber to operate virtually unregulated, while taxis must operate under complex regulatory structures (equal protection clause). There is also the Supremacy Clause, which preempts state legislation because those laws cannot exempt Uber from Federal laws. As far as the low fares go, you can't fool the laws of economics. Uber drivers are making closer to $6/hour (not $8) because the rates Uber forces drivers to operate on is 1/3rd that of taxis (85 cents vs $2.60 per mile). So, for Uber drivers to make the company's claim of $18/hr, they would have to triple the 85 cent/mile rate, which is . . . wait for it . . . about $2.60/mile. Ta daaaaa . . . oh, and driverless cars? Won't happen. The liability issues will kill the technology, flawed and expensive as it is.
I worked for uber and lyft for two years and I pretty much agree with everything said here. I made more like 12 an hour because my car was cheap and it had very few problems while I was driving. All those expenses can be written off on your taxes so yes you don't get the benefits of being an employee but you get all your cash paid in gross income which can be very helpful. At the end of the year I was able to write off a lot of things in taxes. The problems start when your car starts to get wear and tear.
I appreciate you pointing out the fact that Uber's drivers are all independent contractors. That means Uber is not required to offer them any benefits like healthcare, 401k, life insurance, or higher education. The drivers knowing this still do it, because in normal jobs, it's very difficult to get 80 hours of work because to do so you have to hop between multiple employees and conflicting schedules.
Please tip your drivers.
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