yodude
Banned
never hearda uber
Leaked documents show Uber is having losses at greater rates than revenues
- Thread starter Concac
- Start date
Jamesmartin
Member
I was under the impression one had to have a decent car to sign on with Uber. If you're in Toronto and not living in mom's basement there's a good chance you can't afford the required vehicle. Money makes money.
Motorcycle Mike
Well-known member
I just presumed he meant 200 days ... which wouldn't bad, only working 200 days a year for $60k... almost a teacher's schedule. ;-)
macro
Well-known member
The wife uses Uber all the time and we use AirBnB and VRBO whenever we go away. These huge companies complain that it's undermining their business, isn't the point of a capitalist marketplace to promote new ideas and to make money? Guess what, these things are exploding because people hate the status quo, for the taxi thing, look at the girl that was killed as a bystander outside a club the other week. She had been turned down by a cab to take her home. Uber doesn't care where you're going and won't turn you down. Competition in the market isn't a bad thing. If I can rent a room on a farm with included breakfast for $40 a night or a stanky motel for $60, guess which one I'm going for?
It seems like more industries are going through what music went through with Napster. All of a sudden the technology exists to put people in direct communication with each other and providing services that way. The big industries ignore it until it's too late, they're used to being able to do what they like and all of a sudden people have another option so they go crying yelling foul to the government asking for regulations and bylaws.
I for one welcome our new robot overlords.
It seems like more industries are going through what music went through with Napster. All of a sudden the technology exists to put people in direct communication with each other and providing services that way. The big industries ignore it until it's too late, they're used to being able to do what they like and all of a sudden people have another option so they go crying yelling foul to the government asking for regulations and bylaws.
I for one welcome our new robot overlords.
Iceman
Well-known member
That's some bad math. $300x20= $6000 not 60 000. At $300/day you'd have to work 200 days to hit 60k
Typo. You caught it. 5 day week less some vacation, statutory days and sick days.
I have the insurance that an Uber driver should have... and it doesn't cost me anywhere near 10K.
The government allows about 50 cents per kilometer as fair reimbursement to drive a car. At 100 kph on the 401 the car cost is $50 per hour. Using the government figure, driving more than 32 kilometers in an hour puts you in the hole. I'm missing something here.
Ten years ago I paid $30K for a new van that now has 300,000 kms on it and it's worth nothing.
That's 10 cents a km for depreciation.
Insurance works out to 7 cents
Gas about 13 cents
Add some brakes, tires, oil changes and I'm probably under the government number but not enough to make me rich.
If I traded more often the numbers would be worse for me. Would Uber sign on a 10 year old clunker?
SweetOnion
Well-known member
Uber was all we used on the weekend down in Indianapolis. We have been there 3 other years and the cabs were an absolute disaster. The second year we were there we had a guy going the wrong way, driving like 30 mph on the freeway, scaring the hell out of us.. it was a nightmare.
We used Uber this year, we took 4 rides and all of them were good. Rides were there quick.. can text/call driver and them to you also, if you can't find each other. Gonna do it again for sure... waiting to see how all this insurance crap sorts itself out up here.
We used Uber this year, we took 4 rides and all of them were good. Rides were there quick.. can text/call driver and them to you also, if you can't find each other. Gonna do it again for sure... waiting to see how all this insurance crap sorts itself out up here.
I use UberTAXI simply because I like the automated hailing, route tracking, billing, and emailed receipts (which is great for expensing). Won't use UberX until the insurance and legal issues get sorted out (despite what Uber claims about their insurance policy - no one has seen it yet as far as I'm aware)
I thought you can have any car but when you list and show up with a beater then you won't have many repeat customers. A good car, and good service people will call for YOU to be present if you're available. They get a listing of available cars, and choose the one they want. If you consistently provide good service and are available they will keep selecting you. That's how I believe it works from what I read, but never used it, and don't really plan on it.
No, they specify it must be a four door sedan, limit how old it can be, and explicitly state that it CANNOT have commercial insurance. There's not really a lot of repeat business with Uber, since the app typically just picks the closest driver, so they specify a minimum standard for the vehicles (much like Taxis).
What is the logic in not having commercial insurance?
Because it would compromise their regulatory position. Their position is that they (Uber) have their own policy that will cover drivers that have a typical personal policy. Meanwhile, cities such as Toronto are arguing that drivers need commercial policies if they are going to transport passengers for money. If the cities convince the drivers directly that they need commercial policies (which are a lot more expensive) to drive for Uber, then Uber will become a lot less attractive for drivers (especially the occasional ones), and they will lose their critical mass that appears to make them useful.
So UberX drivers are forbidden from having commercial policies in order to keep the cities from gaining a foothold in their position.
The reality is it appears the cities are right, and eventually the situation will come to a head and Uber will be in real trouble. You simply can't provide a taxi-like service for less than half the cost of a taxi, while letting people make a decent wage, and protecting the public. If you were ever seriously injured while being a UberX passenger, you could find yourself in very difficult position.
Note that none of what I have said applies to UberTaxi, Uber Black, or UberXL as they are aimed at professional drivers and I believe even required by Uber to have commercial policies.
Yup, so not only is he stuck chasing Uber to cover his losses, but when they finally do replace his vehicle he has to find a new policy as his insurer cancelled his policy (and likely at a much higher price). If he or his passenger required long-term disability or expensive rehab he could be really screwed. This is why UberX is ridiculous and everyone should really think twice before using it. I suspect it won't be long before Uber follows Hailo and pulls out of Toronto. But such are the risks of building a business depending on others to use their cars illegally.
Not only that, according to Uber's vague description, their policy doesn't cover lost earnings, loss of use of vehicle, etc.
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So the guy drives without proper insurance, gets in an accident, claim denied, and now he wants sympathy because he can't get resolution?
Sorry but I can't have much sympathy for this guy. I'm all for these platforms, and ride sharing, and I like the idea of uber....however make sure you're properly covered if you're carrying people for profit.
