Uber Drivers Forum banner

Once Again, NYC Data Shows Resilience Of Taxi Medallions

1K views 7 replies 3 participants last post by  TwoFiddyMile 
#1 ·
Once Again, NYC Data Shows Resilience Of Taxi Medallions
http://seekingalpha.com/article/3448986-once-again-nyc-data-shows-resilience-of-taxi-medallions

Aug. 18, 2015 2:17 PM ET
Larry Meyers, PDL Capital

(disclosure: author is LONG on TAXI - a public company which finances medallions)

Two articles over the weekend, one in the NY Daily News and another in the Economist, have provided more clarity about the UberX vs. taxi situation in New York. As I've long stated, concerns over taxi medallion values and the ability of taxi medallion borrowers to service loans are vastly overblown.

---------------------------

To read the full text of the article visit the link above.
 
#2 ·
>>>When a company tells you it has 20,000 drivers, and later tells you that only 10% of them are actually on shift, that may explain why the company is seeing hefty losses.<<<

I can't believe that someone this knowledgeable of all things cab & rideshare does not understand that Uber could have 1 million drivers in NYC and it would not cost them a penny unless and until a rider was both "on-shift" AND had a paying rider in the car. Am I missing something?
 
  • Like
Reactions: UberNorthStar
#5 ·
Since Uber is not a public company and publishes only unaudited financial information that it sees fit to share, no one knows where their losses come from. I'm not saying you're wrong... just noting that it is opinion.
 
#6 ·
Since Uber is not a public company and publishes only unaudited financial information that it sees fit to share, no one knows where their losses come from. I'm not saying you're wrong... just noting that it is opinion.
Absolutely conjecture.
However its an educated guess, after 10 years of running small transportation companies.
Uber has no vehicle overhead.
All it takes to make profit is to take in more revenue than expense.
 
#7 ·
its an educated guess, after 10 years of running small transportation companies....
All it takes to make profit is to take in more revenue than expense.
well, your conjecture is as good as anyone's...
but you're ignoring the tech infrastructure and the service element being built out on a global level to operate in more than 250 cities, in more than 50 countries (and many, many languages)... and everything that entails.
 
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top