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Old 04-11-18 | 01:54 PM
  #49  
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I-Like-To-Bike
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Joined: Oct 2004
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From: Burlington Iowa

Bikes: Vaterland and Ragazzi

Originally Posted by Dahon.Steve
...and use Uber. The driver rates are about a third a taxi would charge in my city! I don't know how they can make a living.
Most of them can't. https://www.bloomberg.com/view/articles/2018-03-08/uber-drivers-earn-pay-that-s-just-above-the-poverty-line and thta/s with the fare


And neither can Uber as a company though some early investors and founders may have cashed out on the pyramid scam-like later financing. The company burns through its investors' cash at the rate of hundreds of millions of dollars every quarter, much of it subsidizing its artificially low fare rate in its cut throat competition with Lyft in the U.S. and other companies elsewhere.

And don't forget about its money losing, soon to go kaput, autonomous vehicle experiment.

Bottom line: Don't count on getting inexpensive Uber rides too far into the future.
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