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"amid findings that rider fares only cover roughly 40 percent of a ride, with the remainder subsidized by venture capitalists", Hard for me to make it past the
by laser 10y ago
"amid findings that rider fares only cover roughly 40 percent of a ride, with the remainder subsidized by venture capitalists", Hard for me to make it past the first and second paragraph where false premise is laid. Addressed this about a week ago. It's amazing how false information propagates. https://news.ycombinator.com/item?id=13682428 https://news.ycombinator.com/item?id=13682428
"You can't take Uber's cut of passengers payments (~18%) and then divide by Uber's costs to say 'passengers were paying only 41% of the actual cost of their trips', as the bulk of the cost of the trip goes directly to the driver. If you take this into account the rider is actually covering about 80% of the total cost of the trip"