I think it's a little bit of both. This business is definitely oversaturated though.

 

What do you expect? TLC still give out plates to rental companies, which means there's literally no cap, just poorer ants. Uber/Lyft accept new drivers, to them it doesn't matter, they will still get their cut even if every ant does only 2 trips a day because it's dead slow. Everywhere I go I see TLC plated cars on the road cruising, most of them are empty.

 

Reminds me of the McDonald’s movie quote. “ You aren’t in the burger business, you’re in the real estate business.” ☝🏻☝🏻☝🏻

 

I guess everyones goal is different if i gross 2k a week take out 400 for expenses im left with 1600 a week i work about 55 to 60 hours a week so im left with about 26 to 29 and hour and i get to choose my own schedule is not a bad deal march makes my 8th year for me doing this i own my own plates and threw this bussiness i was able to fund purchasing 4 rental properties out of state which gross me 4, 200 a month and nets me 2,000 after mortgages and expenses im using this income to fund other projects this is not a 20 25 year career as it has no pension or security so use it as a stepping stone to something else that will get you to were you really want to be in life.

 

Definitely varies from driver to driver
1 driver might be barely making it while another driver may have it all figured out.

 

I just started to go back to school and once I’m done with my bachelor’s im out of NYC for good. Till then to me its not about profit, but about survival and savings. Law School ain’t cheap and have to come up with a financial strategy wherever I go. Saving now, working long hours, and working with a realistic target each day. If I show too much in profit, I’ll lose my medicaid and if I show too little, I open myself up for audit. Like one said before me, its about you and what you want out of this line of work. From 2004 to now, a lot has changed and it is not the same as it once was. I don’t see a viable path to success driving for Uber in the long term in NYC with cost of living. And as you age, you will tire out more.

 

How old are you if you don't mind me asking? Or at least your age range.

 

🤣🤣🤣🤣😁😁👍🏻👍🏻

 

Eh I like uber lyft here in pa nj but I would never do it in NYC with own car too much drivers see these guys driving empty way more than yellow cabs, how do you profit with 550 a week rental , even though yellow is more but there is way more rides

 

Drivers who rent have to drive for many hours.

 

Brother it's not only you. Many of us are at a breaking point right now. Before I could get $100 bills are already waiting to take it. I don't have $100 savings for any emergency bow, and I'm working almost daily and owned my plate and financed car.

 

I agree. I am at that point right now. But let me ask you why for yourself, is it because of low ridership?

 

Capitalism my friend. Swim or sink