3 ms·

a business model based on the lack of mathematical and financial skills of the participants.

by elmar 9y ago

elmar 9y ago
"If you are using either Uber or Lyft, stop. Now. You are contributing directly to the growth of the precariat and the debasement of work. The fact that you use an app to distance yourself from the exploitation of desperate and not very savvy drivers doesn’t change the nature of what you are doing." Yves Smith @yvessmith
- alexandercrohde 9y ago
  Who are you quoting?
  - smcl 9y ago
    This is a direct quote from the linked article
  - elmar 9y ago
    Updated post with source - Yves Smith @yvessmith
  - williamstein 9y ago
    The article.
forinti 9y ago
Senator Elizabeth Warren once said that financial contracts should have disclaimers such as other products have (this is safe for children older than 3 years, don't drink too much of this, etc). She was talking about mortgages. Maybe we should have something along those lines for this type of company, especially since these companies have a good deal of knowledge that they are not sharing with their workers.
CalRobert 9y ago
Every person I have known who drove for these services had given zero - zero! thought to depreciation. Sure, it covers gas money but when your $24,000 car is worth $5000 in three years it won't be a great deal.
pwagland 9y ago
Mr Money Mustache also did a piece on how much you really made driving uber: http://www.mrmoneymustache.com/2017/11/22/mr-money-mustache-uber-driver/ http://www.mrmoneymustache.com/2017/11/22/mr-money-mustache-... One of his quotes from that article: “Imagine developing a company specifically to take advantage of people’s ignorance of how expensive it really is to drive their own car. What would this company look like? “ (the answer is of course that it would look like very much like Uber or any other ridesharing company)
scarface74 9y ago
a business model based on the lack of mathematical and financial skills of the participants. Like state lotteries?

a business model based on the lack of mathematical and financial skills of the participants.

by elmar 9y ago

a business model based on the lack of mathematical and financial skills of the participants.

"If you are using either Uber or Lyft, stop. Now. You are contributing directly to the growth of the precariat and the debasement of work. The fact that you use an app to distance yourself from the exploitation of desperate and not very savvy drivers doesn’t change the nature of what you are doing." Yves Smith @yvessmith

alexandercrohde 9y ago
Who are you quoting?
- smcl 9y ago
  This is a direct quote from the linked article
- elmar 9y ago
  Updated post with source - Yves Smith @yvessmith
- williamstein 9y ago
  The article.

forinti 9y ago

Senator Elizabeth Warren once said that financial contracts should have disclaimers such as other products have (this is safe for children older than 3 years, don't drink too much of this, etc). She was talking about mortgages. Maybe we should have something along those lines for this type of company, especially since these companies have a good deal of knowledge that they are not sharing with their workers.

CalRobert 9y ago

Every person I have known who drove for these services had given zero - zero! thought to depreciation. Sure, it covers gas money but when your $24,000 car is worth $5000 in three years it won't be a great deal.

pwagland 9y ago

Mr Money Mustache also did a piece on how much you really made driving uber: http://www.mrmoneymustache.com/2017/11/22/mr-money-mustache-uber-driver/ http://www.mrmoneymustache.com/2017/11/22/mr-money-mustache-... One of his quotes from that article: “Imagine developing a company specifically to take advantage of people’s ignorance of how expensive it really is to drive their own car. What would this company look like? “ (the answer is of course that it would look like very much like Uber or any other ridesharing company)

scarface74 9y ago

a business model based on the lack of mathematical and financial skills of the participants. Like state lotteries?