Leaked documents show Uber is having losses at greater rates than revenues

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Two50noob said:
Dont worry another group will take its place. peer to peer is here to stay in the long run however Uber it self will probably be a victim of the bubble. I hear lyft is much better and the drivers get paid better.
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Hope youre right dude. All other arguments aside from the city, the fact that Uber (or other peer to peer apps) are almost half the price of cabs will prevent a huge huge number of wouldve been DUIs. I know many friends who due to its lower cost dont count how many drinks theyve had anymore to see if theyre good to drive or not and just Uber it now since its so much more affordable.

But i have a feeling the city isnt interested in safety and lowering drunk drivers.
 
ashkan said:
Hope youre right dude. All other arguments aside from the city, the fact that Uber (or other peer to peer apps) are almost half the price of cabs will prevent a huge huge number of wouldve been DUIs. I know many friends who due to its lower cost dont count how many drinks theyve had anymore to see if theyre good to drive or not and just Uber it now since its so much more affordable.

But i have a feeling the city isnt interested in safety and lowering drunk drivers.
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Its going to take time to change a massive ingrained view of how we do things. But drivers need to have adequate insurance tho thats another thing that will have to change.
 
If silkroad and it's successors endure, I am pretty sure uber like services are here to stay. Would suck if I have to go through a vpn and tor to get a cab :)
 
I think a lot of these hi tech ap based companies are massively overvalued. Many provide no product and exist on advertising, which as far as I know, doesn't work too well. Every time one of the ap services pops up for an IPO we see stupid valuations and the markets go nuts for them. I'm convinced it's to drive up prices for trading frenzies rather than anything concrete. Look at the dumb games manufacturers for instance, groupon, etc etc.
 
My office downtown faces the road and a busy cab drop off. every 5th car is an uber car. A couple of my friends are occasional drivers and can make on average $300 for an 8 hour day after paying for gas and wear and tear. Many like the no exchange of monies, and the normal drivers picking them up. Some having some engaging conversations . Complaints of the conventional taxi system are adding up with "cash only", drivers that all look the same and don't speak english, and smelly cabs. It will be a learning curve with liability but I'm sure the ontario insurance companies will be fair. It will be the new norm. Can anyone remember paying late charges of $50 for a $5 movie with blockbuster?
 
Concac said:
Interesting news regarding Uber. As everyone notice, Uber has been hyped recently with the international expansion and enormous valuation.

VC poured money in like a dot com boom.... Are we gonna see a new bubble with this peer to peer economy?

Has anyone here used Uber? Or AirBnB?
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Used Airbnb many times in Europe. It was a perfect service and I recommend it to all.

Have used uber a few times, great service and cheaper.

10/10 would bang again
 
rescue said:
My office downtown faces the road and a busy cab drop off. every 5th car is an uber car. A couple of my friends are occasional drivers and can make on average $300 for an 8 hour day after paying for gas and wear and tear. Many like the no exchange of monies, and the normal drivers picking them up. Some having some engaging conversations . Complaints of the conventional taxi system are adding up with "cash only", drivers that all look the same and don't speak english, and smelly cabs. It will be a learning curve with liability but I'm sure the ontario insurance companies will be fair. It will be the new norm. Can anyone remember paying late charges of $50 for a $5 movie with blockbuster?
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$300 a day and say a person works 200 days a year = $60,000 a year income, not exactly rolling in dough especially if they drive a decent car. It's more of a second job for evenings, weekends etc to supplement full time work.

What would insurance be if the driver discloses the Uber connection? If you don't coverage can be denied.

I have serious doubts whether the Uber driver is making decent coin if things are done legally.

Who wouldn't like Uber? Lower prices, better cars and drivers. The taxi industry has been shown what people want. Now they have to figure out how to do it but that means a realistic look at their money grab at all levels.

If Uber is stopped less desirable options could come available through posting in Kijiji or Craigslist. Those would have zero oversight either way as they are just bulletin boards.
 
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If Uber operated with the same insurance as a taxi ($10,000 and up per taxi/year) and followed the pricing rules set by the city (taxi are not allowed to do surge pricing like Uber) Then their drivers would make squat
 
nobbie48 said:
$300 a day and say a person works 20 days a year = $60,000 a year income, not exactly rolling in dough especially if they drive a decent car. It's more of a second job for evenings, weekends etc to supplement full time work.

What would insurance be if the driver discloses the Uber connection? If you don't coverage can be denied.

I have serious doubts whether the Uber driver is making decent coin if things are done legally.

Who wouldn't like Uber? Lower prices, better cars and drivers. The taxi industry has been shown what people want. Now they have to figure out how to do it but that means a realistic look at their money grab at all levels.

If Uber is stopped less desirable options could come available through posting in Kijiji or Craigslist. Those would have zero oversight either way as they are just bulletin boards.
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That's $60k a year for a job requiring no skills except for driving. Sorry to say but quite a few people wouldn't mind that job I'm thinking.
 
taximan62 said:
If Uber operated with the same insurance as a taxi ($10,000 and up per taxi/year) and followed the pricing rules set by the city (taxi are not allowed to do surge pricing like Uber) Then their drivers would make squat
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How much to taxi driver make vs the owner? I wonder if the owner cut is higher than what uber takes.
 
taximan62 said:
If Uber operated with the same insurance as a taxi ($10,000 and up per taxi/year) and followed the pricing rules set by the city (taxi are not allowed to do surge pricing like Uber) Then their drivers would make squat
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Uber has a $50,000,000 liability policy for third party suits against it's drivers.
That is as much as 25, of the approx. 5,000, Toronto taxis.

Last time I checked a GOOD GTA cab driver could get a policy for about $5,000. Fleet cars pay more than $10,000.
 
Can't speak for Uber, but I've looked into AirBNB a few times when travelling through the US. Every single time I've easily been able to get a nice 3-4* hotel with similar/better location for significantly less than a rundown one bedroom apartment through AirBNB.
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