3 ms·
>Current taxi system is screwing everybody. This implies that there are some taxi companies out there that are worth a massive amount of money, since they are
by forgetsusername 11y ago
>Current taxi system is screwing everybody.
This implies that there are some taxi companies out there that are worth a massive amount of money, since they are capturing all the profit. Can you point to a single company worth even one tenth of what Uber is worth? I'm sure some companies do very well, but I don't think there are any taxi billionaires out there.
But it matters little anyway. The pie is divvied up so many ways. You pay the fare, some goes to the driver, some goes to the middle man. When you pay a smaller fare, there is less for the driver, middle man, or both.
How much of Uber's valuation is based on that pie (the number of people desiring taxis) growing?
- JoeAltmaier 11y agoLots of ways to get screwed. Underserved population/demographic. Unreliable cars. Bad experiences. Taxes and fees double the overhead. Astronomical Medallion costs benefit only the banks (interest on million-dollar loans). And so on.
- aianus 11y ago> Can you point to a single company worth even one tenth of what Uber is worth? That's simply because taxi companies are regional and Uber is global. Taxi companies rent out the car and medallion so drivers are $100 in the hole before they've even started work. It's practically indentured servitude.
- icebraining 11y agoCan you point to a single company worth even one tenth of what Uber is worth? This is a misleading way of looking at things. Uber serves many more markets than taxi companies, so they can be much bigger while being more efficient per ride.