[NyukNyuk]

_____From Uber's recent 8-K statement, reporting 2nd Quarter of 2023 ("2023Q2"):
"Mobility Take Rate of 29.3% increased [2.7% year-over-year]".

_"Mobility" refers to passenger trips, and "Take Rate" is Uber's revenue as a percentage of non-tip ride bookings: "We define Take Rate as revenue as a percentage of Gross Bookings."
Considering that "Gross Bookings" includes taxes, tolls, and fees that are neither part of Revenue or Driver Earnings.

_____Estimating those taxes, tolls, and fees at 20% of Gross Bookings, Uber's actual take from the trip profit is about 36.6% of the money available to share with drivers. (That's 29.3%/(100%-20%) = 36.6%)

_____Is the Take Rate leveling off?

 

[Paul Vincent]

They do take a lot

 

[Seth619navy]

 

[NyukNyuk]

Uber proudly reports to its investors each quarter that it keeps keeping more of the fare and giving drivers less of the fare. Nyuk Nyuk wonders if Uber will keep keeping more, or if maybe Uber will have to just accept that they can’t have more and more for infinity.

 

[PukersAreAlwaysYourFault]

Uber proudly reports to its investors each quarter that it keeps keeping more of the fare and giving drivers less of the fare.

Well yeah. The investors don't give a fark that you're making less of fares. They want to see a profit.

 

[Rodrigo305]

I did notice this weekend that the 1:30am -2:30am surge isn’t as profitable as it used to be. At some point the money won’t be worth the trouble of dealing with drunks and the mess they leave behind.

 

[PukersAreAlwaysYourFault]

At some point the money won’t be worth the trouble of dealing with drunks and the mess they leave behind.

Oh that point has already arrived. You just choose to ignore the fact that it isn't worth it.

 

[Seth619navy]

Yeah, I refuse to drive the post 2am bar close drunks without an incentive, lol. For $3? Absolutely not.

 

[NyukNyuk]

Good news in Uber's most recent quarterly report: The "Take Rate" (the percentage of the fare that Uber keeps for itself, excluding taxes and fees and stuff) went down by 1%, from 29.3% to 28.3%. Uber will, of course, keep trying to push this up to the point that drivers are paying Uber to let them be with late-night drunken passengers.

 

[LAXANT]

I did notice this weekend that the 1:30am -2:30am surge isn’t as profitable as it used to be. At some point the money won’t be worth the trouble of dealing with drunks and the mess they leave behind.

It hasn’t been worth it for long time dude

 

[Seth619navy]

Got this the other day. Terrible, absolutely terrible rates on Lyft. Obviously I declined as I'm not a total moron.

 

[Paul Vincent]

Got this the other day. Terrible, absolutely terrible rates on Lyft. Obviously I declined as I'm not a total moron.
View attachment 723684

But it's a five star pax🤣

 

[Seth619navy]

The entire public needs to know how Uber and Lyft's pay rate operates. This should be well-known, but for whatever reason isn't. This shouldn't only be known amongst drivers, especially in the age of information.

 

[oldnavyht3]

The entire public needs to know how Uber and Lyft's pay rate operates. This should be well-known, but for whatever reason isn't. This shouldn't only be known amongst drivers, especially in the age of information.

dont you know, just like celebrities, they have PR teams who scout out and pay to have ads and news clippings removed from circulation so that no one knows the wiser?

 

[Rodrigo305]

People don’t care. They don’t care that their sneakers are made in sweat shops, that their waiters make $3.75/hour and rely on tips for a living, that illegal immigrants are cleaning their homes and picking their fruits. They don’t care. All they want is the cheapest prices even if it’s at someone else’s expense.