Will Ubers IPO make any difference to us?
1 - 20 of 21 Posts
Joined
·
3,053 Posts
I guess in the US there is potentially some long term benefits for drivers, but at this stage it is difficult to see any major changes in the business model here in Australia and other markets. In reality, we will be the last to know because of the secretive nature of there model but on the other hand becoming a public company will enforce more transparency, but who really knows other than those in the upper echelons of Uber management.
Joined
·
5,104 Posts
Well it actually makes a massive difference.
You won't notice it straight away but Uber have made it very clear the only way they can hope to make money is by reducing drivers pay.
Every 3 months they need to explain to shareholders why there's less money in the bank than 3 months ago and why their shares are heading south.
Drivers are to blame.
You won't notice it straight away but Uber have made it very clear the only way they can hope to make money is by reducing drivers pay.
Every 3 months they need to explain to shareholders why there's less money in the bank than 3 months ago and why their shares are heading south.
Drivers are to blame.
Joined
·
726 Posts
Before ipo, may be. I don't see any good thing happening now. Once they collected their money, who gives a damn about their drivers. Already in filing in securities and exchange commission, this company has never made any profit nor will in the near future. Go figure. Only the dumb and greedy people will jump into this ipo band wagon. Otherwise pretty much everybody know it's a sinking ship. SDC may save them but it's atleast 10 years away.
Joined
·
1,020 Posts
educing drivers pay every 3 months what planet are you on ? can you show me the proof ?
Joined
·
5,104 Posts
From Ubers S-1.
"As we aim to reduce driver incentives to improve our financial performance, we expect driver dissatisfaction will generally increase,"
"incentives" is money.
That will be front and center of every board meeting while trying to explain why they lost 1 billion dollars that quarter and why it's share price is now 30 dollars down from 50 dollars 3 months ago.
18 months ago Uber was spending a dollar to make 50 cents. Now it spends a dollar to make 75 cents. That improvement has come almost entirely from cutting drivers pay.
Expect it to continue.
Joined
·
1,020 Posts
show me where the drivers pay was cut ???
Joined
·
5,104 Posts
"Uber defenders might argue that that's a big improvement from 2015, when revenues only covered 43 percent of costs, and the GAAP margin was negative 132 percent. But as we'll discuss in more detail, this reduction in how much Uber spends to get each average dollar of revenue didn't come from improved efficiency, but was due to almost entirely to cutting driver pay"
There are links in the article to Ubers costs.
Good read.
You can find numerous references to pay cuts via Google.
Joined
·
1,020 Posts
we already have fixed price trips and uber pool so you are not telling us something new, all you ever do is come on here and put shit on uber. people have the choice to driver for uber or not !!!!
incentives means something on top of pay.. As is bonuses, promotions... Etc.
Joined
·
5,104 Posts
Uber is pretty much relying on Uber trolls putting out misinformation or clueless drivers who seem a little unsure of how the company operates.
I feel it's my civic duty to come here and see that drivers and the media who use UP as a reference point see opposing points if view.
Imagine if the forum was only Uber trolls looking to mislead the public?
Joined
·
1,093 Posts
Just go to Los Angeles forum...drivers there are getting 60 cents, per "mile" that's about 40 cents per Km.
Joined
·
245 Posts
Driverless will happen in maybe 10 years, but most people will want to drive themselves.
The only way you can get me in a taxi or a Uber, is if I am too pissed to drive.
Joined
·
1,020 Posts
no it wont
The thing with driverless cars is if something goes wrong it will have to come back to Uber, at moment legal responsibility falls totally with driver.
Lawsuits can run into million of dollars and potentially sink a company,look how Boeing shares reacted after their aircraft involved in 2 crashes.
Malaysian airlines had to be government rescued.
Lawsuits can run into million of dollars and potentially sink a company,look how Boeing shares reacted after their aircraft involved in 2 crashes.
Malaysian airlines had to be government rescued.
Joined
·
255 Posts
Good point but maybe in line with living standard to some extent...??
Joined
·
726 Posts
Reductions of pay is a good thing. Rideshare pay is already extremely low. Further reduction will accelerate the drivers to quit and find another job. It means less drivers available for rides, means less revenue for the company, means more surge for the drivers, means more loses for guber, means unhappy shareholders for no profitability in sight, means more dumping of stocks, means stocks become worthless, means game over for rideshare experiments.
1 - 20 of 21 Posts
