will uber collapse soon?
nah. They're cheaper than public transportation in my part of the country. Not that that is a high bar.
They are providing one hell of a service and that makes a lot of corrupt people in govt very scared.
they are subsiding the rides, paying a lot o money to fight against anti uber laws around the world, and doing bad in china
Uber has practically become a household name now.
it means going bankrupt
it matters not.
people have had a taste.
A lot of money is being used to do something worthwhile.
Mobility is a core freedom and freedom is an economic driver.
Uber is playing a risky game sure but one its just money. two they are a model for mass service distribution, one of the first at this scale. Sure there are bumps in the road, but they have already won the long game, they just need to survive the moment.
my friend does this and taxes dont come out of his paycheck. hes the type of guy to not report come tax day either. He has another job besides this. Will he have to pay taxes? how does uber manage to get away with this. pardon if I sound like an idiot, I just have no clue how his paychecks end up high than my wageslave paychecks, mostly due to notax.
Uber will report his income. You are a sub contractor driving for Uber. They don't withhold any taxes for you. That is your job. However they will report income they payed you for their own tax purposes and your friend will get BTFO.
they won't go bankrupt but their valuation will get REKT.
Operating at a loss is all fine and dandy when the VC money is flowing in a bull market, but all we need is a rate hike, correction in equity markets, and a flight for liquidity (debt bubble bursting too) and Ubers valuation is going wayyyy down bc no more easy VC money
if it keeps fucking up and gets negative spotlight by news outlets constantly sure .
that feel when other companies could sabotage uber easily
in US? no,
In other countries? most likely yes, it is a great disadvantage for any country outside US (Uber's base) to let uber operate.
Why would they?
They were first to the game, and will adapt changes as necessary to remain top dog.
I drove for uber in the past, once you take out all of the deductions. Miles put on your car, gas, food ect I ended up getting a couple hundred bucks back.
Uber is currently in a race to the bottom where they are shitting on their drivers and cutting the profitability of being a driver, both through over-saturation, and rate reductions. The quality of the drivers is decreasing.
Eventually driverless cars will replace drivers, but for now it's quite conceivable that they will have some rough spots in the near future.
I never understood why they kept cutting rates
They could have marketed themselves as classier and safer than competitors, but they instead chose to make sure every poojet and dindu can both drive and use the service.
Now I hear about people getting robbed and assaulted almost weekly.
They reduced the fares, and increased the percentage of their cut, several times. Their cut for a given ride hasn't really changed much. They started out slightly high to attract both quality drivers and riders to test the waters and find out where the problems were. Then after word got out about how profitable it could be, they started putting on the squeeze.
Every policy change has been to increase the number of riders, and mitigate the reduction in their cuts. New drivers that sign up for uber black, the luxury service, are now required to accept non black riders. This gives some random people a luxury ride, and makes uber seem even better, generating more fares, and does nothing for the people running black cars. Uber of course claims that it increases revenue for those drivers, which is technically true, but it generally doesn't increase profits because the cost of traveling with a luxury car doesn't outweigh the increased revenue. There's lots of people grandfathered in on the old black rules who sell out their accounts for as much as 500 a week, without the car, to people who want to drive black, but not handle the normal riders.
TL;DR they don't care about appearing classy. They are aiming to find the sweet spot to maximize profit, which is perfectly normal. It just happens to be that the maximum profit is dicking over their workforce, which isn't surprising.
no they'll just get some burgerland memevestors to inject more capital