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In Guatemala, ex-taxi drivers tell me the daily spend on the car went to 1/3rd the amount when they bought a car versus renting a taxi. So they were paying 3x a
by MichaelGG 9y ago
In Guatemala, ex-taxi drivers tell me the daily spend on the car went to 1/3rd the amount when they bought a car versus renting a taxi. So they were paying 3x as much per day, and in a few years would have nothing to show for it. So even with Uber's 25% cut and lower prices, they say they're doing way better.
In the US, I'm not sure you can compare a medallion costing nearly a million dollars with a car loan for a few dozen thousand. The medallions can swing in price (as we see), a car probably will follow a well-known decrease.
- yazaddaruvala 9y agoWhat would be even better is car "pooling". 4 drivers really only need two cars. i.e. Share the cars between the night, and the day.
- MichaelGG 9y agoSome of the folks renting cars here do that, rent out for a day and night shift. They're making good money doing so, making it so they charge enough so the actual driver can just squeek out a living. Still better than working a taxi they tell me.