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False. Gross Driver Payout in most US cities is ~45% (Leaked financials) This is mainly because: - the booking fee goes 100% to Uber, which can be another 25%

False. Gross Driver Payout in most US cities is ~45% (Leaked financials) This is mainly because: - the booking fee goes 100% to Uber, which can be another 25% on short trips - UberPool arbitrates rider fares and driver are paid the lower of (75% of per mile, per min, OR 75% of rider quoted fares). This accounting hack, on average, increases Uber's take to 35% - Upfront Fares is weighed to give Uber, on average, an extra 5% to compensate for "variance".

jonknee 10y ago
OK, but it's still safe to say their revenue will surge.
- jsjohnst 10y ago
  Why would revenue surge? You assuming that rides will dramatically increase? I think you meant profit, but considering that Uber/Lyft combined are losing billions a year (Uber alone I think was over -$4B in 2016), I'm not sure a surge will be noticed.
  - jonknee 10y ago
    Uber likes to keep the illusion that they aren't employing drivers, part of this means they don't record the full fare as revenue. Uber's revenue is just their take of the ride. The full amount of money is "gross bookings" which probably won't change a ton at first, but money actually going to Uber (revenue) will definitely surge. http://www.forbes.com/sites/briansolomon/2016/01/12/leaked-ubers-financials-show-huge-growth-even-bigger-losses/ http://www.forbes.com/sites/briansolomon/2016/01/12/leaked-u... > However, gross bookings is not the same as net revenue, which came in at $663.2 million in the first half of 2015, compared to $495.3 million in all of 2014. That's the amount Uber actually receives before costs but after it pays drivers their cut and accounts for promotions, driver incentives, and more. For example, Uber paid out $2.72 billion to driver contractors in the first half of 2015, just under 75% of bookings. So in the first half of 2015 they had $3.63b in gross bookings, but just $663.2m in revenue. If you magically switched out all the drivers to robots revenue would match bookings which is a 5.5x boost.
    - jsjohnst 10y ago
      If those numbers are true, I wonder how Uber list $4B in 2016? I guess I wrongly assumed they were basing revenue on actual gross bookings (which makes the losses more understandable).

jonknee 10y ago

OK, but it's still safe to say their revenue will surge.

jsjohnst 10y ago
Why would revenue surge? You assuming that rides will dramatically increase? I think you meant profit, but considering that Uber/Lyft combined are losing billions a year (Uber alone I think was over -$4B in 2016), I'm not sure a surge will be noticed.
- jonknee 10y ago
  Uber likes to keep the illusion that they aren't employing drivers, part of this means they don't record the full fare as revenue. Uber's revenue is just their take of the ride. The full amount of money is "gross bookings" which probably won't change a ton at first, but money actually going to Uber (revenue) will definitely surge. http://www.forbes.com/sites/briansolomon/2016/01/12/leaked-ubers-financials-show-huge-growth-even-bigger-losses/ http://www.forbes.com/sites/briansolomon/2016/01/12/leaked-u... > However, gross bookings is not the same as net revenue, which came in at $663.2 million in the first half of 2015, compared to $495.3 million in all of 2014. That's the amount Uber actually receives before costs but after it pays drivers their cut and accounts for promotions, driver incentives, and more. For example, Uber paid out $2.72 billion to driver contractors in the first half of 2015, just under 75% of bookings. So in the first half of 2015 they had $3.63b in gross bookings, but just $663.2m in revenue. If you magically switched out all the drivers to robots revenue would match bookings which is a 5.5x boost.
  - jsjohnst 10y ago
    If those numbers are true, I wonder how Uber list $4B in 2016? I guess I wrongly assumed they were basing revenue on actual gross bookings (which makes the losses more understandable).