Joined
·
715 Posts
We've already spoken here at length about our plight as driver pay decreases...
But this article really is enlightening... I suggest you read it.
But this article really is enlightening... I suggest you read it.
Here's what's happening to drivers (best summary I've read so far)
1 - 20 of 38 Posts
Joined
·
779 Posts
Or it could do what Movie Pass did: give away movie tickets for cheap and all you had to do was download the app. Once everyone downloaded the app, it was time to turn a profit. However, people simply stopped using the app once they raised the price.
Helios and Mathieson (the parent company behind Movie Pass) saw it's stock go from 400$ to 4800$.
It is now worth $0.02
![Rectangle Slope Font Line Plot]()
Uber and Lyft will face the same problems that Movie Pass had when it comes time to raise prices. I don't think that rideshare stocks will dump into the ground like Snapchat did. I think these rideshare stocks will pump (where founders will exit) and then dump into the ground.
Persuading retail investors on fundamental analysis alone will not move the price. Getting people to believe in a rideshare "revolution" might do the trick but after reading Lyft propaganda about "free rides for homeless people" and "rideshare is good for the environment", they get not one-but two middle fingers from me.
Helios and Mathieson (the parent company behind Movie Pass) saw it's stock go from 400$ to 4800$.
It is now worth $0.02
Uber and Lyft will face the same problems that Movie Pass had when it comes time to raise prices. I don't think that rideshare stocks will dump into the ground like Snapchat did. I think these rideshare stocks will pump (where founders will exit) and then dump into the ground.
Persuading retail investors on fundamental analysis alone will not move the price. Getting people to believe in a rideshare "revolution" might do the trick but after reading Lyft propaganda about "free rides for homeless people" and "rideshare is good for the environment", they get not one-but two middle fingers from me.
Joined
·
2,259 Posts
Great Article thxs for sharing ?
Joined
·
2,259 Posts
Lyft has really done a 180 they are taking as much as Uber if not more on shorties and middies. The long rides in traffic are the only ones we can win on now.
Joined
·
1,368 Posts
You mean terms and conditions continue to get worse? Wow...Who would have thunked it.
Joined
·
796 Posts
I am quite sure someone in this board will be here shortly defending Uber and Lyft - just wait
I only do it part time and I still make a few cents so forget all you complainers, I'm going to buy me a brand new house soon!
Joined
·
4,941 Posts
thanks for sharing; I've never understood the desire for autonomous vehicles from Uber/Lyft...why spend billions on developing that technology when you have access to drivers who pay for the car themselves! Also, I like the 75% Conn mandate, but I don't care for the NYC min wage; the $19 stock valuation from the author is an eyebrow raiser considering all the bullish coverage issued recently by analysts
It's marketing. They just want to sell out to shareholders and let them lose all the $$$ while they walk away.
I still believe the best is to come when Uber and Lyft HAVE to raise passenger fares .. to stop the bleeding ... with those increased rates ..Drivers will in fact get a cut of that increase..just a matter if it is a fair cut or not.
The price increases will come in steps ..so that every Q they are showing an increase in Revenues AND a lowering of debt...
that's how I would do it anyways
(Rates to a point where they are still lower than traditional taxi)
The price increases will come in steps ..so that every Q they are showing an increase in Revenues AND a lowering of debt...
that's how I would do it anyways
(Rates to a point where they are still lower than traditional taxi)
Joined
·
1,368 Posts
Ouch! Crap pay for so many rides. I'm guessing that is his gross but weather it's gross or net it is still chump change for 34 rides. Probably a very long day too. Minimum wage with zero benefits.
Joined
·
796 Posts
And someone is here defending Uber and Lyft
Joined
·
160 Posts
Taxi companies are going out of business left and right. They'll be able to raise rates eventually when they snuff out most of them.
Joined
·
796 Posts
What is the basis of this statement?
Joined
·
192 Posts
They already have raised passenger rates, multiple times. They just don’t share it with the drivers. New surge /Power Zone is the biggest money grab on thier part to date.
Joined
·
1,054 Posts
With the driver attrition.. I think I heard what.. like 5% still drive after a year?.. they will have to raise our rates eventually or they will start running out of drivers!.. or at least only hang onto the worst of the worst.. (crappy cars, smelly cars, non- english speakers, violent, bad drivers, drivers who don't know road rules etc).. won't take long for riders to be scared and notice how poor the service will become.
1 - 20 of 38 Posts
