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And understand...I like using ride share (usually uber black) but don't understand how Lyft is possibly worth 30 Billion.
this makes no sense.
Lyft lost almost a BILLION dollars last year.
The IPO after the first day bump valued them at 30 BILLION.
Meanwhile, drivers in LA just went on a one day strike because Lyft cut their compensation from 80 cents a mile to 60 cents a mile.
How the can they pay for a decent car and insurance and make any money at 60 cents a mile?
why would anyone drive for them and lose money?
Do any of you guys drive a ride share?
Can anyone explain this to me?
And understand...I like using ride share (usually uber black) but don't understand how Lyft is possibly worth 30 Billion.
I’m with you completely. Lyft and Uber are basically fighting with each other in a race to the bottom. Even at 80 cents on the mile it’s a money losing proposition, the mileage reimbursement you’d get in a normal job is I believe around 55 cents a mile, and the extra 25 cents (especially in ing LA where the traffic is a nightmare and there’s a high cost of living) isn’t enough to compensate you for your time.
The drivers are largely shmucks who don’t understand the real cost of driving.
IMO they should just charge more and not have tipping, I hate the fact that tips are now expected. I can only speak for myself but the reason I use Uber/Lyft over taxis is purely for convenience and not because it’s cheaper. When I’m drunk and trying to get back to my apartment at 1:30 in the morning I could give a about the cost.
Holy . I'd take a million bucks in some random penny stock and feel safer than a million bucks in Lyft stock.
Seems like I was making more way back delivering pizzas than these people make driving Uber/Lyft. It was minimum wage plus a buck per delivery plus tips. I think it was about 3 deliveries an hour on weekend nights.
And I'd rather have pizza smell in my car than cleaning up backseat drunk puke at 3am
Bubble. About the only explanation I can think of.
Beyond the puke, having random drunks and the typical drunk personality and having to listen/interact with them isn't worth it at all.
I think expectations surrounding driverless cars is somewhere in there, but both Uber and Lyft's burn rates are still pretty alarming after all this time. It's never going to get better for the drivers.
Not sure why that is funny. Usually traveling to the airport with family and luggage. Uber Black SUV's work best. Don't need some guy in a 10 year old ratty Prius showing up when there are 4 people and half a dozen suitcases.
Says the guy who eats at Luby's because he can't afford parking at the other places.
Yeah, like I can't afford those other places, Mr. Big Time
Driving/Parking downtown in a 26 foot long pickup is just a pain in the ass.
Says the guy who thinks that cows don't fartYeah, like I can't afford those other places, Mr. Big Time
Driving/Parking downtown is just a pain in the ass.
tired schtick, head.
making sure we all know you pick the expensive option even when there was no contextual reason to let us know about it
Sorry it made you feel insecure.
it didnt. i found it funny. which is why i said lol
U/L drivers don't lose money (although some trips come very close), but they generally like the gross that they pocket without worrying about their net after deducting $0.50 to $0.60 TCO.
An indication of how desperate some drivers are for money, they cash out daily rather than wait until the following week for last week's total.
Uber has lost $4B/year for last few years, and Lyft has lost nearly $1/B year for a couple years.
Lyft admitted in it IPO filing a bunch of red flags that would normally scare investors away, like it can't predict when it will be profitable.
I bet Uber will admit essentially the same, although CEO said last year that Uber could be profitable whenever it wanted (but prefers to keep losing $4B/year?)
On a $10 fare, U/L will keep 40%+. I took one trip in SFO where the Lyft driver got $5.30 of my $10 fare. Similarly repeated on four other Lyft rides I took on the SA-SFO trip.
Last edited by boutons_deux; 04-01-2019 at 06:05 PM.
there's been a lot of studies of the rideshare business, polls of drivers.
About 2/3 of Uber drivers quit after 6 months, is why U/L left Austin when Austin passed b/g checks for drivers.
U/L's driver churn is so great that U/L cannot accept the on-boarding barrier and $$$ of b/g checks, finger-printing of drivers.
Last edited by boutons_deux; 04-01-2019 at 06:06 PM.
just say you were wrong and we can stop the tired schtick
DID YOU SEE POST #34235?
Prices per mile to riders needs to go WAY up before either Lyft/Uber become profitable. Taxi rides aren't cheap. There is a reason for that.
I already did, head. I clearly corrected and posted an article that said 95% of bovine methane came from belches and 5% came from farts. But keep clinging to your pathetic fart schtick.
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