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My calculated net hourly pay after expenses is

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Les Ants,

I often hear a lot of complaints on here about what the Ants are earning. I'm here to dispel those myths using evidenced-based empirical research as opposed to the hit pieces run by often left-leaning news outlets.

Linked is a New York Times piece that summarizes and attempts to discredit the 136 page Cornell piece that is also linked. The study was conducted using data from both UBER and Lyft. This is the most rigorous study I have seen on the topic and the methodologies are sound. It adjusts earnings in ways that I have been advocating for for some time.

For instance, it nets out the time that ants are running both apps, ie. if you are running both apps for an hour, it counts it as an hour, not two. This is a huge adjustment for the denominator. It also only includes incremental costs and excludes things like insurance, which the Ant would be paying for regardless. It also deducts depreciation due to the aging of the vehicle, which again would happen regardless of Anting. It includes depreciation from mileage (note that the diminution in value of a vehicle has two components - the age and the mileage). The most controversial exclusion is wait time when not actively driving or en route to a pickup. If you believe that time should be included, you can deduct $2.50 from the levels below.

After applying this thoughtful analysis, the researchers concluded that part-time Ants, which they peg as 85% of the population, make $23.25/hour AFTER expenses or $46,500 annually based on 40 hrs. a week for 50 weeks a year. Full-time Ants make $17.40/hour or $34,800 annually. Many recent college graduates are making between $39-$48k as illustrated by the table below.

For a profession (Anting) that requires no education and very little skill, it appears that the Ants are being overcompensated.


View attachment 605557




Toodles,

De La Creme
I'm the ant. Ain't no doubt about it! Sociology major with no job forced into RS by necessity and still overcompensating. Statistics are overrated and more practical solutions can be proposed beyond this type of rhetorical mishmash!
 

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Discussion Starter · #182 ·
Hat tip for your also excellent post... lol

Quick question... I think you referred to this before - publicly disclosed information - where can I go to read that? I am interested in the information available to me because I can learn from it.
UBER's investor relations website will have links to its financials and corporate presentation. Click the link, then click SEC filings if you want to see the 10Q or 10K. You can also click on the Q1 press release, which has the following chart:

605915

Excluding the UK, the take rate for the mobility division was down 120bps Y/Y to 21.5%.


Link to the investor presenation:
 

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UBER's investor relations website will have links to its financials and corporate presentation. Click the link, then click SEC filings if you want to see the 10Q or 10K. You can also click on the Q1 press release, which has the following chart:

View attachment 605915
Excluding the UK, the take rate for the mobility division was down 120bps Y/Y to 21.5%.


Link to the investor presenation:
Gotcha. Those numbers might be globally true, or they could be fudged on ubers end, but either way, they don't match my personal experience. If I go to my annual summaries for the 4 years I've been doing this, and divide Fees by Fares, I get between 32 and 38% depending on the year. Basically their take rate on me personally, is about one third of the gross.
 

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Discussion Starter · #184 ·
@ftupelo - this article (I don't know if it's accurate or not) says that uber stated 21% at their IPO but they did a sample and found it was much higher.

I just skimmed it - IDK if they are spot on or not...

Investors would obviously like to see a higher take rate, which would mean more revenue to UBER. I don't see why they would fudge the numbers to make it look lower. Perhaps to please drivers, but I don't think drivers are tracking the number.
 

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Investors would obviously like to see a higher take rate, which would mean more revenue to UBER. I don't see why they would fudge the numbers to make it look lower. Perhaps to please drivers, but I don't think drivers are tracking the number.
I'm tracking mine, for sure! But not for drivers as a whole.
 

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I'm the ant. Ain't no doubt about it! Sociology major with no job forced into RS by necessity and still overcompensating. Statistics are overrated and more practical solutions can be proposed beyond this type of rhetorical mishmash!
Studies are only good for the proponents who created them. There's an inherent bias in the statistical data, one ant follows another with no real independence. This becomes an aggregate with no value for real-world application. 😯 blah blah blah... rhetorical ad nauseam
 

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Discussion Starter · #188 ·
Gotcha. Those numbers might be globally true, or they could be fudged on ubers end, but either way, they don't match my personal experience. If I go to my annual summaries for the 4 years I've been doing this, and divide Fees by Fares, I get between 32 and 38% depending on the year. Basically their take rate on me personally, is about one third of the gross.
They provide overall take rate and exUK take rate. I don't believe they break out US numbers. Take rate is most important to the investor these days. Take rate was very important to Ants when UBER was taking a cut of fares. With fixed pay rates, the fluctuation in take rate depends solely on what they can charge pax.
 
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