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Likewise for Lyft and Uber; they just haven't fully collapsed yet -- but give them another 2 years. There will be a smoking pit in the short-range transit marke
by wayoutthere 7y ago
Likewise for Lyft and Uber; they just haven't fully collapsed yet -- but give them another 2 years. There will be a smoking pit in the short-range transit market because it costs at least twice what riders pay today just to keep the drivers making the same amount when the VC subsidies go away, and nobody is willing to pay that. You're already starting to see the subsidies dry up with food delivery services where there's an additional $15-20 in fees.
The next recession is going to be a bloodbath for a lot of low-income people when the demand for the gig economy dries up.