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Old 03-20-2017, 07:44 AM   #76
Alan C. Lawhon
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Re: Is Uber Doomed?

Top Uber Executive Bails Out

Ruh Oh ...
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Old 03-20-2017, 08:20 AM   #77
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Re: Is Uber Doomed?

Ride sharing will be here forever. Prices will rise slightly. But the key is that there will always be labor. Very few drops where the requirements are so low. Have car. And I guess that is changing to where they will lease you the car. So, requirement is have a driver's license.
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Old 03-20-2017, 04:35 PM   #78
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Re: Is Uber Doomed?

Some good comments on hacker news:

All the speculation around the turmoil over seems to be missing one key component. I think a bigger driving force then this sexual harassment and CEO antics is the waymo lawsuit. Uber itself has acknowledged that without self-driving capabilities the company will most likely not find profitability. From reporting I've read, it appears the waymo lawsuit has a high probability of success.

If the waymo lawsuit essentially forces Uber to start its self driving program back from scratch then the path to self-driving viability has essentially been scrapped. To me, this is a better explanation of the recent spat of high-level exits from the company.

vannevar 5 hours ago [-]

Uber doesn't just need self-driving cars, they need driverless cars. That's ten years away, and there's no way Uber can sustain its losses for that long. It's an investment Ponzi scheme, and it's losing steam. When it collapses, it's going to take a big chunk of the tech private equity market with it.

alistproducer2 5 hours ago [-]

This is my assessment as well. People at the c-suite level had to be aware that viability of the company is highly reliant on the magical thinking that they could get to market with driver-less tech before the VC money runs out. The (very real) prospect of complete restart of that research program has likely freed them of the fantasy.

I'm not totally discounting the PR issues as a partial cause of the exits. As a c-level employee, you (more than most hires) have to answer for rotten company culture. I also, however, think both issue (lawsuit and PR issues) make it untenable for the current batch of executives to stay on.
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Old 03-22-2017, 06:34 AM   #79
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Re: Is Uber Doomed?

I drove a taxi in Minneapolis. We have lots of freeways, long rides, and accounts. Taxis charge $2.50 / mile and did for a quite a few years (so a great deal a while ago, not so much when gas was $4 / gal).

For a weekly lease (take home car and use it for personal) I paid $500 / week. A split lease (usually am / pm but up to the drivers actually) is ($500 + $150) / 2.

Gas in my experience is 15-20% of gross receipts, but I'm a chaser. The guys sitting at the cab stand downtown probably pay less.

My peak gross was about $30 hour, which is where it peaked for me in about 2005. It's actually gone down since as runs to the airport declines and cheap $2 mile / no flag - no tip medical account runs become more of the business (60% - 80% of runs).

This means that you make nothing as a sole driver for 20 - 25 hours, then you make $30 / hour minus gas / taxes. For those wondering, more taxi drivers pay their taxes than poker players.

I'm not certain how much of the money drivers for Uber keep, but looking at their rates it seems impossible to make any money without a luxury car. Especially in large cities where taxi drivers rely on large tips as a % of fare.
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Old 03-24-2017, 02:05 PM   #80
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Re: Is Uber Doomed?

Told ya.

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Old Today, 01:05 PM   #81
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Re: Is Uber Doomed?

This is bad for Uber.

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