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AustenAllred's profile
Austen Allred
Austen Allred
Austen Allred
Verified account
@AustenAllred

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Austen AllredVerified account

@AustenAllred

CEO @LambdaSchool (YC S17): A CS education that's free until you get a job. I have made remarks that I do not agree with.

San Francisco, CA
lambdaschool.com
Joined December 2010

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    1. Austen Allred‏Verified account @AustenAllred Mar 18

      I remember when I first rode in an Uber I thought, “Man when they cost about the same as a taxi it’s over for taxis.” For some reason I assumed it wasn’t possible because in my mind at that time better experiences were inherently more expensive (read: I was an idiot)

      5 replies 3 retweets 33 likes
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      Austen Allred‏Verified account @AustenAllred Mar 18

      Seeing Uber and Lyft become cheaper than taxis was the first time realized that sometimes the only reason something that’s better in every way doesn’t exist is just that no one has created it yet. And to add to that, underlying assumptions and possibilities change constantly.

      1:55 AM - 18 Mar 2018
      • 5 Retweets
      • 46 Likes
      • Yas bokchoyboy Founder DNA Ben Nelson Patrick Kanaley Omar Qazi Harmeet Peter Rothman Franklin He
      6 replies 5 retweets 46 likes
        1. New conversation
        2. Austen Allred‏Verified account @AustenAllred Mar 18

          I really think a lot of people are locked up in this kind of thinking that if something could exist it already would. I blame it on our view of efficient markets.

          3 replies 6 retweets 49 likes
          Show this thread
        3. Austen Allred‏Verified account @AustenAllred Mar 18

          We think that everything good is already taken. I’ve learned more recently that this is clearly, and emphatically, not the case

          2 replies 4 retweets 42 likes
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        4. End of conversation
        1. New conversation
        2. Kevin Marks‏ @kevinmarks Mar 18
          Replying to @AustenAllred

          They're only cheaper than taxis because they are subsidising rides with investment capital.

          1 reply 0 retweets 4 likes
        3. Austen Allred‏Verified account @AustenAllred Mar 18
          Replying to @kevinmarks

          Some parts of the business subsidize other parts, but that could last forever and the company could make money. Just because the company loses money doesn’t mean individual rides are a net loss. See:Amazon

          1 reply 1 retweet 1 like
        4. Kevin Marks‏ @kevinmarks Mar 18
          Replying to @AustenAllred

          My local cab company has a hailing app and is profitable.pic.twitter.com/AG0RIjkg5z

          1 reply 0 retweets 0 likes
        5. Austen Allred‏Verified account @AustenAllred Mar 18
          Replying to @kevinmarks

          And I’d guess they’re not spending 1/1,000th the cash on growth

          1 reply 1 retweet 0 likes
        6. Paul Harvey‏ @csirac2 Mar 18
          Replying to @AustenAllred @kevinmarks

          And I bet Uber pursues that growth while contributing 1/10th of the tax base the local company does while enjoying the same access to roads and drivers who can read

          0 replies 0 retweets 1 like
        7. End of conversation
        1. Rhett‏ @rhettweller Mar 18
          Replying to @AustenAllred

          It might cost more (at least until self driving cars are viable). Uber/Lyft are burning 100s of millions to keep prices low in order to control demand. The unit economics might not be profitable.

          0 replies 0 retweets 3 likes
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        1. New conversation
        2. Paul Harvey‏ @csirac2 Mar 18
          Replying to @AustenAllred

          Aren’t they haemorrhaging the best part of a billion dollars a quarter subsidising rides?

          1 reply 0 retweets 0 likes
        3. Paul Harvey‏ @csirac2 Mar 18
          Replying to @csirac2 @AustenAllred

          I mean there’s lots wrong with traditional taxi markets but they’d be cheaper too if somebody foot the bill for 50%+ of the driver’s income

          0 replies 0 retweets 2 likes
        4. End of conversation
        1. Alex Loukissas‏ @aloukissas Mar 18
          Replying to @AustenAllred

          That’s because their drivers make on average less money than the minimum federal wage (~$3/hr according to recent MIT study). There’s no free meal.

          0 replies 0 retweets 1 like
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        1. Renée Stephen‏ @ReneeStephen Mar 19
          Replying to @AustenAllred

          Many have said this, but it's worth reiterating: Uber, Lyft, etc are cheap on the backs of vulnerable workers ...and hopeful VCs. The former are powerless, the latter attempting to destroy existing industry by skirting regulations. This is not a new game. It's a very old one.

          0 replies 0 retweets 0 likes
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