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"Every time Uber drops prices, Uber drivers have to fight for those fares, and their profit margins get squeezed. Inevitably, this will result in drivers spending less money on car repairs and maintenance, meaning the drive will be less safe for passengers. The cars will get dirtier and more unkempt. The very things that distinguishes Uber from taxis will dissipate." Finally, someone states the obvious.....

In sum:
"Bottom line: These are but a few issues that affect Uber and the Uber IPO in a holistic sense. It doesn't even really address how regulators are eventually going to crack down on Uber once enough bad things happen - crimes by drivers, accidents lacking insurance coverage, carjackings. The free-for-all will come to an end, and the $50 billion valuation will come crashing down." Yup... it's coming.
 

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Good article. On point. Knows what's really going on. A while back someone on this board pointed out the same issues even using the same terminology-"a race to the bottom".

I thought the linked cost analysis was interesting. Expenses are going to vary per area and in other ways like day or night driving. Drunks are hard on cars. The way I got expenses (wear tear, maintenance/repair, gas) figured I'm running at 17 percent/mile. I don't include insurance because I'm flying under the radar with fingers crossed. I gotta say if you're using your new Camry driving UberX, you are an idiot. I've got an '08 Civic which I think is pretty ideal--an older, reliable economy car with high resale value. I'll swap it out for another used one in a couple years if I'm still doing this which I hope I'm not.
 
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