[uberxw]

For me, Uber X income is down about 4.5%

 

[Private service]

For me, Uber X income is down about 4.5%

And that’s just talking about revenue. Now factor in rising costs and we are looking at a conservative drop in after expense and tax income of 20% and possibly much more. Also factor in inflation over the last 5 years and we are looking at your income dropping to 2/3 thirds in real purchasing power, seriously get out of Uber or rideshare if you can, do a course but get out. This has no future.

 

[Ziutek]

And that’s just talking about revenue. Now factor in rising costs and we are looking at a conservative drop in after expense and tax income of 20% and possibly much more. Also factor in inflation over the last 5 years and we are looking at your income dropping to 2/3 thirds in real purchasing power, seriously get out of Uber or rideshare if you can, do a course but get out. This has no future.

It never had a future as a job, this hasn't changed.

 

[Waingro]

It never had a future as a job, this hasn't changed.

I cannot see how anyone doing over 50K a year can still make some type of income lower than the minimum wage.

 

[DaddyCool]

Sept 1st is when commissions go up to 27.5%

 

[Private service]

It never had a future as a job, this hasn't changed.

It’s even worse now

 

[Hounddub]

Said it right from the beginning as an original 20% commission driver that Uber would naturally look to take more and more of the invoice as 20% wouldn't be enough.

Then they got another 5% by increasing the commission.

Then they introduced fees, booking fees etc

Then they introduced their opaque up front pricing which further shaved margin in their favour.

Through it all their behaviour has been to mitigate any increases to customer pricing so as to maintain and grow demand.

And their only mechanism to con the drivers into the hope of better returns was to fiddle the available products with ever changing premium alternatives that customers generally don't pay for whilst ensuring a massive increase of drivers to ensure strong fulfilment of the essential X product.

In the end, drivers have chased money by deploying more expensive capital to a job with ever decreasing returns.

So very predictable 5 years ago, so very sad.

I wish those left that you don't lose any more.

 

[johnnoaussie]

When does the new commission rate come into effect?

Legacy 22% drivers will be moved to 27.5% service fee on 1st Sep. It's an effective 7% pay cut as well on top of 5-8% cut in rates we;re seeing in Melbourne from 21 August.

I assume the number of 22% drivers in Sydney is similarly small as Melbourne, bit it's a significant hit for those of us who have been on Uber for years...

 

[Uberstealth34]

Legacy 22% drivers will be moved to 27.5% service fee on 1st Sep. It's an effective 7% pay cut as well on top of 5-8% cut in rates we;re seeing in Melbourne from 21 August.

I assume the number of 22% drivers in Sydney is similarly small as Melbourne, bit it's a significant hit for those of us who have been on Uber for years...

Yes my waybills still show 22%. This is appalling.

 

[Waingro]

Said it right from the beginning as an original 20% commission driver that Uber would naturally look to take more and more of the invoice as 20% wouldn't be enough.

Then they got another 5% by increasing the commission.

Then they introduced fees, booking fees etc

Then they introduced their opaque up front pricing which further shaved margin in their favour.

Through it all their behaviour has been to mitigate any increases to customer pricing so as to maintain and grow demand.

And their only mechanism to con the drivers into the hope of better returns was to fiddle the available products with ever changing premium alternatives that customers generally don't pay for whilst ensuring a massive increase of drivers to ensure strong fulfilment of the essential X product.

In the end, drivers have chased money by deploying more expensive capital to a job with ever decreasing returns.

So very predictable 5 years ago, so very sad.

I wish those left that you don't lose any more.

How are these guys in expensive rental contracts going to walk away? 26 weeks minimum.

 

[Uberstealth34]

How are these guys in expensive rental contracts going to walk away? 26 weeks minimum.

They can't. They will just have to work more.

 

[Beepbeep41]

How are these guys in expensive rental contracts going to walk away? 26 weeks minimum.

Lock in was the plan

 

[Uberdrummoyne]

And they had Fordham in their pockets……https://amp.smh.com.au/business/com...nine-s-ben-fordham-breached-broadcast-rules-with-uber-deal-20240827-p5k5li.html

 

[macbri]

I wonder how much they are paying him.

He was the spokesperson at Uber get together for independent contractors and restaurant owners using Uber platform a couple of years ago now , in Centennial Park.

I remember he became an Uber driver for 1 trip , which of course was splashed all over Sydney media.

It is funny how people are taken in by actions of well known media people.

 

[Uberstealth34]

And they had Fordham in their pockets……https://amp.smh.com.au/business/com...nine-s-ben-fordham-breached-broadcast-rules-with-uber-deal-20240827-p5k5li.html

Yes, Ben Fordham bent for them.

 

[AntMen]

Yes my waybills still show 22%. This is appalling.

Yea 22% fee drivers were always very quiet as 27.5% fee drivers were always complaining about low pay. Now everyone is on the same fee, we have 22% fee drivers now complaining too. Welcome to our world I guess. Plus the extra 5% pay cut which is also a lie from Uber, it's more like 7-8% pay cut. Also hiding the surge fee structure so we cannt easily calculate correct surge which also they now cut a higher amount from drivers. This is essentially a 15% pay cut on average. Funny thing is, there are no reduction of drivers. Go into an office and tell all the staff, everyone is getting a 15% pay cut, 90% of the people would leave within 5 mins to find another job, not with Uber drivers, they have nothing else apart from driving Uber on their Student Visas if they want to break the law and work over 24hrs a week. Only company that is allowed to break the Visa employment laws is Uber apparently because we are not 'employees'.

 

[LiG]

Uber's new pricing ain't some random numbers, but based on collected datas from rider's spending + driver's earnings + competitor's pay rate. I expect the new average weekly earnings for Uber's full time drivers will be within what DiDi pays. If you have been OK to drive for DiDi for years, there is no reason why you are whining now. Good job, DiDi's drivers!

 

[soontobeautomated]

Uber's new pricing ain't some random numbers, but based on collected datas from rider's spending + driver's earnings + competitor's pay rate. I expect the new average weekly earnings for Uber's full time drivers will be within what DiDi pays. If you have been OK to drive for DiDi for years, there is no reason why you are whining now. Good job, DiDi's drivers!

Oh. Now well that is good to know. So drivers were earning too much in some areas, justifying a reduction in pay?

If competitive pressures from Didi forced the cuts, maybe MORE drivers should move to Didi forcing a 9.5% commission cut from FUber. That would follow the same logic, especially if FUbers market share erodes further.

Either way. No speculation, but fact with this point. Anyone that purchases a vehicle specifically for rideshare should be extremely worried. Based on FUbers (and Didi's) history of changing earnings at short notice.......the next significant cut could happen at any time with next to no notice. Don't get stuck with an expensive asset that you can't justify without rideshare income!

 

[Aujezza]

Well that’s my last Uber job. Finished and out of here. Not going to sign up on the 1st.
golf course here I come.

 

[TheP]

Absolute thieves