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5% of $10/ride would be $0.50/ride. Maybe they could charge a $0.50/ride flat fee for rides under $10. CC processing fees, retail, are about 3% and $0.30 each
by linuxftw 5y ago
5% of $10/ride would be $0.50/ride. Maybe they could charge a $0.50/ride flat fee for rides under $10. CC processing fees, retail, are about 3% and $0.30 each, so that can be added on to uber's cut as well.
They did 5B rides in 2020. At $0.50/ride, that's $2.5B. That's enough to pay 1k employees $1M, and still leave $1.5B for infrastructure, business expenses, and profit. It's also a business that requires no on-going capital other than operating costs, it's not like they buying steel and stamping out widgets, it's practically free money.
Right now, their revenue is over $2/ride, so what are they doing with all that cash? Nothing useful.