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Uber_NYC Drivers , has your Idle Wait Time decreased & Earnings/Hour increased since the Rate Cuts?

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Uber's fare cuts have won over the outer boroughs
By Danielle Furfaro (@DanielleFurfaro): https://twitter.com/DanielleFurfaro?s=09

Uber ridership has soared in the outer boroughs since the company slashed its prices - with rides that start outside Manhattan now making up more than one-third of the company's Big Apple business, company officials told The Post on Monday.

Overall ridership in The Bronx has shot up by 33 percent in the two weeks since the 15 percent rate slash took effect on Jan. 29. And ridership in Queens increased by 21 percent, company officials said.

Manhattan ridership itself saw an increase of 26 percent, Uber reported.

Riders in the outer boroughs say the price cuts make Uber more accessible to the masses.

"The Bronx has been a forgotten borough and people believe that we don't deserve accessibility," said Sulma Arzu-Brown, director of operations of the New York City Hispanic Chamber of Commerce. "Many of us have to hustle and bustle, and getting a ride helps."

In total, more than 75,000 New Yorkers have signed up for the Uber app in the two weeks since the company slashed its prices, and more than half of those new users came from outside of Manhattan, officials said on Monday.

There were 18,612 new users in Queens, 5,334 in The Bronx and 16,714 in Brooklyn.

Another 34,624 people signed up in Manhattan.

Uber ignited a firestorm when it announced that it would slash its prices a day before doing so. A group of drivers went on a three-day strike against the company and held protests across the city.

They called on the company to restore the old fares, add a tipping option on the app, and cut its commission to 10 percent from 20-25 percent.

The company argued that drivers actually make more money with the price cut because they are spending less time idling and waiting for fares.

Company officials said trips in the outer boroughs doubled the last time Uber dropped prices, in July 2014.

"Uber's goal is to be available to everyone everywhere, and we are excited to see demand skyrocket in places where yellow taxis rarely go," said Josh Mohrer, Uber's New York City manager.
 

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Uber must cut the price to negative.Japan: The Bank of Japan blindsided global financial markets Friday by adopting negative interest rates for the first time ever, buckling under pressure to revive growth in the world's third-largest economy. USA: Last week, the Federal Reserve spooked markets by preserving the monetary policy status quo. Yet a few central bank watchers were more surprised by a new idea the central bank seemingly suggested: a negative interest rate. Welcome to the reality. I love Uber!!!!!
 

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BY TAXITRUTHS

Revised White Paper on Uber Driver Earnings
TaxiTruths is proud to host a copy of "Towards a Cost Estimate of a NYC UberX Driver", by financial and policy analyst Lawrence Meyers. He has been analyzing the taxi medallion financial industry for 18 months. It can be found in a separate post in the "data" section.

The white paper, "Towards a Cost Estimate of a NYC UberX Driver", was originally released in June of 2015, as a way to comparing the costs of an UberX driver to that of a driver in the taxi medallion financial industry. It has since been updated with more recent data and a new section that provides net pre-tax hourly wage estimates for UberX drivers and drivers in the taxi medallion financial industry.

We note that "Towards a Cost Estimate of a NYC UberX Driver" concludes that NYC UberX drivers are particularly beholden to the amortized cost of insurance. Insurance is a fixed cost so the less one drives in NYC, the higher the per-hour cost of insurance. That's not the case with those in the taxi medallion financial industry that lease vehicles. With those who own medallions in the taxi medallion financial industry, they drive their cars full-time and thus enjoy highly-efficient amortization of insurance costs.

According to "Towards a Cost Estimate of a NYC UberX Driver", total costs for an UberX driver on a per-mile basis run between $0.94 and $1.19. This is noteworthy considering that an UberX driver's revenue is $1.75 per mile, before 36% in commissions, taxes, and fees. That takes the net per-mile down to $1.12!

Thus, according to "Towards a Cost Estimate of a NYC UberX Driver", the UberX driver's per-mile revenue is almost entirely wiped out by his costs. That leaves him with his initial fare and the per-minute revenue fare of only $0.35 as his net.

We find it hard to believe, given the mounting evidence, that UberX drivers earn anything resembling wages in the taxi medallion financial industry.
 

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The bronx is very well covered by the livery bases. & the rate cuts its a hit for uber doesnt necessarily mean drivers are making more.
Its just a strategy, drivers wait time has decreased but the only reason drivers are making more or the same its because of the surge its been red almost all the time all around nyc. I would assume thats because they dont want to pay no guarantee. But all That will disapear soon.
Then u will have to make at least 5 minimum wage trips in 1 hour to net around $22. Now ur wasting a lot more gas & whats going to happen if the gas price runs up.

Bdw its been naturally busy all over the place, my livery base has increased in demand these past few days.
 

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The bronx is very well covered by the livery bases. & the rate cuts its a hit for uber doesnt necessarily mean drivers are making more.
Its just a strategy, drivers wait time has decreased but the only reason drivers are making more or the same its because of the surge its been red almost all the time all around nyc. I would assume thats because they dont want to pay no guarantee. But all That will disapear soon.
Then u will have to make at least 5 minimum wage trips in 1 hour to net around $22. Now ur wasting a lot more gas & whats going to happen if the gas price runs up.

Bdw its been naturally busy all over the place, my livery base has increased in demand these past few days.
Summer is gonna be brutal
 

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Uber's fare cuts have won over the outer boroughs
By Danielle Furfaro (@DanielleFurfaro): https://twitter.com/DanielleFurfaro?s=09

Uber ridership has soared in the outer boroughs since the company slashed its prices - with rides that start outside Manhattan now making up more than one-third of the company's Big Apple business, company officials told The Post on Monday.

Overall ridership in The Bronx has shot up by 33 percent in the two weeks since the 15 percent rate slash took effect on Jan. 29. And ridership in Queens increased by 21 percent, company officials said.

Manhattan ridership itself saw an increase of 26 percent, Uber reported.

Riders in the outer boroughs say the price cuts make Uber more accessible to the masses.

"The Bronx has been a forgotten borough and people believe that we don't deserve accessibility," said Sulma Arzu-Brown, director of operations of the New York City Hispanic Chamber of Commerce. "Many of us have to hustle and bustle, and getting a ride helps."

In total, more than 75,000 New Yorkers have signed up for the Uber app in the two weeks since the company slashed its prices, and more than half of those new users came from outside of Manhattan, officials said on Monday.

There were 18,612 new users in Queens, 5,334 in The Bronx and 16,714 in Brooklyn.

Another 34,624 people signed up in Manhattan.

Uber ignited a firestorm when it announced that it would slash its prices a day before doing so. A group of drivers went on a three-day strike against the company and held protests across the city.

They called on the company to restore the old fares, add a tipping option on the app, and cut its commission to 10 percent from 20-25 percent.

The company argued that drivers actually make more money with the price cut because they are spending less time idling and waiting for fares.

Company officials said trips in the outer boroughs doubled the last time Uber dropped prices, in July 2014.

"Uber's goal is to be available to everyone everywhere, and we are excited to see demand skyrocket in places where yellow taxis rarely go," said Josh Mohrer, Uber's New York City manager.
More customers for Uber, not the individual driver, there is only so many fares you can do in a given hour, it's called traffic, Uber is making more money because they have flooded the market with boat load of cars, which means there is a car available when a pax needs it, it's called volume, now Uber does not lose that customer, reason is there is a car available for him/her. If you had 150K potential customers before and only had 10K cars, that's 10-15 trips per car, you will lose some of those customers to other services do to wait times, now you have 35K cars and the same amount of customers "let's add a few more do to the increase according to Uber", let's say 160K potential customers per day , which means 3.5 customers per car, the driver is not doing more trips, Uber is doing more trips, who are they seriously trying to sell this BS to.
Plus uber is losing most of their old drivers, that is what they want "they are boarding more new drivers every day that pay Uber higher commission =more money for Uber", feeding the older tenured drivers less jobs and crap jobs until they just quit, reason is they make more money from the new drivers boarding the uberx platform, uberx drivers who boarded after April 2015 pay a 25% commission, were uberx drivers before April 2015 pay a 20% commission. That's a boat load of money if you add it all up, that 5% extra Uber is pocketing is huge.
Also a driver needs to do more fares to make the same money he/she made before, which means more wear and tear on them and their car, more hours, more miles, more gas, more wear and tear on the car, which means more overhead costs and a vehicle that will have to be replaced sooner rather than later, who are these vermin trying to BS here.
Uber are nothing but snakes in the grass, they are Satan's offspring.
 

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100 miles X $2.15 per mile = $215.00 gross fares
100 miles X $1.75 per mile = $175.00 gross fares
123 miles X $1.75 per mile = $215.00 gross fares
23% increase in work/time and 23% increase in variable business expenses to reach the same gross fares pre rate cut.
Net gain $0.00 with increased expenses and work/time.

146 miles X $1.75 per mile = $255.50 gross fares
46% increase in work/time and 46% increase in variable business expenses.
Increase of $40.50 in gross fares generates a payout to driver of ~$28.00

Hey, it's more money!
makes perfect sense...
 
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