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Old 05-09-2019, 12:47 PM   #46
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thnx for the info
You're most welcome.
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Old 05-09-2019, 02:22 PM   #47
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The argument is that wages are (rapidly) decreasing, while the company is about to IPO with an insane valuation of more than $90 Billion. Some estimates put it at $120 Billion. This article from Slate quotes a driver as saying that six years ago, he received $2.20/mile and now it's more like $0.92/mile. You can imagine that Uber has been squeezing as much profit out of every single ride as possible, in order to push up their valuation to attract investors (in spite of the company's annual operating loss of something like $1B). In essence, the workers are experiencing dramatically decreasing wages, while the shareholders and early equity holders are about to become overnight millionaires. One estimate I saw put the anticipated number of overnight millionaires at about 10,000 people. So, that's cool... for them.

Note that this is similar to the 2004 Google IPO that turned a significant number of early employees into millionaires. One tangible ripple effect in the local economy will likely translate almost overnight to higher demand for real estate, which is already at bananas-level prices, pushing out more of the middle and lower classes.
But, six years ago there weren't anywhere near the number of drivers as there is now. Competition then didn't really exist like it currently does.
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Old 05-09-2019, 02:25 PM   #48
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The argument is that wages are (rapidly) decreasing, while the company is about to IPO with an insane valuation of more than $90 Billion. Some estimates put it at $120 Billion. This article from Slate quotes a driver as saying that six years ago, he received $2.20/mile and now it's more like $0.92/mile. You can imagine that Uber has been squeezing as much profit out of every single ride as possible, in order to push up their valuation to attract investors (in spite of the company's annual operating loss of something like $1B). In essence, the workers are experiencing dramatically decreasing wages, while the shareholders and early equity holders are about to become overnight millionaires. One estimate I saw put the anticipated number of overnight millionaires at about 10,000 people. So, that's cool... for them.

.
Wow, I had no idea they were getting less. Thanks as well.
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Old 05-09-2019, 02:41 PM   #49
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But, six years ago there weren't anywhere near the number of drivers as there is now. Competition then didn't really exist like it currently does.
theres also a ridiculous increase in passengers too.

competition between drivers isn't really a competition and shouldn't have decrease rates. but id bet that new drivers are signing up for lower rates because they don't know any better, they don't know what's a "living wage" for driving. plus, part-time drivers could screw anything trying to do this full-time. this is allowing Uber to lower rates since the work is still accomplished.

competition btw Uber and Lyft would likely bring down rates as passengers will want to pay the cheapest fees. theres probably a balancing act btw drivers going to the company that pays the most and passengers wanting cheap and accessible rides.
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Old 05-09-2019, 08:35 PM   #50
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Totes to your comments, T and Rob. The other big gamble I see Uber taking is the rush to develop a fleet of driverless cars. At the moment, it creates another important push to turn a profit (to fund said fleet and attract investors to help with upfront costs of buying/outfitting a fleet) just that much more... And that much more depressing for the drivers who, in HCOL (high cost of living) communities rely on their rideshare gig as a side hustle to make ends meet. It's a changing marketplace to be sure.
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Old 05-10-2019, 12:24 PM   #51
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I don't know if any amount of side hustle can sustain someone to live in SF.

https://gizmodo.com/san-francisco-ha...any-1834654243
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Have you ever been to billionaire’s row in San Francisco? It’s an exceptionally rich part of San Francisco filled with enormous tech wealth, the kind of place where you can make a living out of digging through the trash of the rich.

Sitting on top of Silicon Valley, San Francisco has the highest density of billionaires in the world, according to a new “Billionaire Census” report from Wealth-X.
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Old 05-10-2019, 01:47 PM   #52
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I don't know if any amount of side hustle can sustain someone to live in SF.

https://gizmodo.com/san-francisco-ha...any-1834654243


While it's obvious SF is extremely expensive and has a high number of very wealthy people, this graph is a little misleading.

SF has fewer than 1,000,000 residents. Tokyo has something like 30,000,000 residents.
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Old 05-10-2019, 01:50 PM   #53
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It's pretty neato that they pull in a quarter of their business in only 5 cities, but that does not negate the fact that you were completely erroneous in your assertion that uber exists only for large metropolitan areas with traffic congestion.

It's almost like you're ignoring 76% of their market.
"Only" means "predominantly" exists for.

"Ignoring 76% of their market", only if you consider Napa and 101 to be .. 76% for their market. You're not considering that, are you?

The point is, that since San Francisco is a single digit noticeable % of the market, any effect of any strike will have a higher noticeable effect, than in Napa. Unless of course, once again, you predicate that Napa is a single-digit-noticeable percent of the market... ... but it probably isn't.





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I don't know if any amount of side hustle can sustain someone to live in SF.
Yeah in reality it's pretty tough to sustain some things, but.
But, thanks to some BARF advice...
... I personally, save from $4 lattes. (Also $7 fancy drinks if you count Bay Arean's post ) Additionally, I don't shower nor change sheets

And believe it or not much of the time, Uber is still more expensive than a bus. And for the bus, people are already paying for that.
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Old 05-11-2019, 07:51 AM   #54
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https://www.sciencemag.org/news/2019...-traffic-worse

A comparison of traffic speeds from 2010, before ride-sharing apps were widely used, with 2016 shows the time cars spent sitting in San Francisco traffic increased by 69%. To find out how much of that was caused by ride-sharing vehicles, researchers used [a computer model that simulated the speed of traffic with Uber and Lyft vehicles removed] to forecast what traffic might have been like in 2016 without Uber or Lyft.
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Old 05-11-2019, 08:34 AM   #55
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oh right the strike. maybe that's why I got a handicapped van on my way home on thursday
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Old 05-11-2019, 08:56 AM   #56
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The more I read about Uber the more distressing and peculiar it is. Today's paper featured the struggles of some of the drivers with a companion story on a guy who got incredibly rich as an early employee and investor.
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Old 05-11-2019, 09:07 AM   #57
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The more I read about Uber the more distressing and peculiar it is. Today's paper featured the struggles of some of the drivers with a companion story on a guy who got incredibly rich as an early employee and investor.
Even though I'm not a huge fan of Uber's business model, I don't see a comparison between a driver and early employee/investor having any merit. A driver assumes no risk and can be replaced easily, that's the appeal of the gig economy. An early employee provides unique value to Uber and probably countless hours of work, not knowing if it will pay off. Early investors take on a huge financial risk as well. Most of the time startups crash and burn. Uber's future is still risky IMO.
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Old 05-11-2019, 09:16 AM   #58
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Even though I'm not a huge fan of Uber's business model, I don't see a comparison between a driver and early employee/investor having any merit. A driver assumes no risk and can be replaced easily, that's the appeal of the gig economy. An early employee provides unique value to Uber and probably countless hours of work, not knowing if it will pay off. Early investors take on a huge financial risk as well. Most of the time startups crash and burn. Uber's future is still risky IMO.
^^^

Seems a few callous statements, when taken out of context.

You try to be a driver.

I think I used to know 'an early Uber employee". Good guy, was good with beer.

It almost seems as though, even though you're aware (or not?) that employees supposedly can be replaced easily, you're looking for someone even more easily replaced.

Drivers are absolutely a part of something like Uber, they should definitely be employees. Take me for example, all I see from Uber is The drivers and The cars (and the last two I used were not new nor very clean anyway.) I don't see how can there have been any question about that, but hey
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Old 05-11-2019, 09:27 AM   #59
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^^^

Seems a few callous statements, when taken out of context.

You try to be a driver.

I think I used to know 'an early Uber employee". Good guy, was good with beer.

It almost seems as though, even though you're aware (or not?) that employees supposedly can be replaced easily, you're looking for someone even more easily replaced.

Drivers are absolutely a part of something like Uber, they shouold definitely be employees. Take me for example, all I see from Uber is The drivers and The cars (and the last two I used were not new nor very clean anyway.) I don't see how can there have been any question about that, but hey
The easily replaced statement is based on the fact that drivers can pick when they want to work and can stop whenever they feel like it. That's the whole appeal of a gig job. If drivers want to be Uber employees then they should commit to a work schedule. It breaks the whole business model of Uber though.
Early employees of a startup are difficult to replace. But yes they can still be replaced.
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Old 05-12-2019, 08:45 AM   #60
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That Uber/Gig drivers would work in an industry that bypassed/flouted established rules and regulations that allowed licensed taxi drivers to earn a fair living wage.

And now those same Uber/Gig drivers are complaining that wages suck.

Irony or tragedy?
I was a yellow driver for a while. There's no such thing as a fair living wage for taxi drivers. You make what you make.
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