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>So where is the money going? To drivers AIUI. The "fair" value a driver should make is $1. Uber is paying them $0.7 and charging the customer $0.5. That said,
by nemothekid 5y ago
>So where is the money going?
To drivers AIUI. The "fair" value a driver should make is $1. Uber is paying them $0.7 and charging the customer $0.5. That said, I'm not sure how valid OP's assessment is without also considering Lyft/Didi/Grab. If Uber's business model is ultimately untenable, every company should be in trouble
- dwater 5y agoFollowing the links to Hubert Horan's reports, it looks like Lyft is even worse financial shape: "Uber’s continuing operations had a GAAP net margin of negative 38% while Lyft’s was negative 49%." https://www.nakedcapitalism.com/2021/08/hubert-horan-can-uber-ever-deliver-part-twenty-seven-despite-staggering-losses-the-uber-propaganda-train-keeps-rolling.html https://www.nakedcapitalism.com/2021/08/hubert-horan-can-ube... I guess Doctorow doesn't want to waste space commenting on the also-rans.