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This is just not true. Uber and Lyft definitely sell rides for more than they pay out to the driver. Lyft, as an example, has 3.9 billion in revenue against C
by treis 4y ago
This is just not true. Uber and Lyft definitely sell rides for more than they pay out to the driver. Lyft, as an example, has 3.9 billion in revenue against COGS of 2.2 billion.
- KptMarchewa 4y agoThey hide that expenses in marketing.
- woeirua 4y agoNot if they don't want to go to jail for fraud. These are publicly traded companies.
- kasey_junk 4y agoIt’s not “hidden” in that it’s not on their financial statements. It’s that churn of drivers and adding of passengers is accounted for in their marketing budget so if you want to do a fair comparison of cost per ride you need to figure out how to break out that component. It’s no different than any other companies marketing budget and is definitely not fraud.