Does the study explain why millions of people choose to drive for these companies if the wages are below every other available job?
-
-
-
Attrition rate is very high. Turnover is something near 70% every six months. 30% of people who try lose money. 74% earn less than minimum wage, when you take expenses into account. But the top 20% are doing pretty well. Top 1% of drivers are clearing over $1.50 per mile profit.
-
Suggesting, like a lot of other market failures, that the problem is information asymetry. Prospective new drivers are lead to believe they will make decent $ & quit when they don't, however, there's still a bunch of people who don't realize how low the wages are & replace them.
-
Yeah. I think that's a big part of it. Probably also some behavioral econ -- people earn $ now and don't factor in expenses/depreciation later. Also maybe some kids putting wear and tear on parents cars and parents insurance, so not experiencing full brunt of the costs, etc.
-
I agree about factoring costs later, but J doubt that kids in their parents cars are a substantial part of the market. I take a lot of uber rides, and I have never gotten a driver I would peg at under 21, and only once gotten an undergrad.
-
I expect a lot of it is also the variability hurting the ability to generalize expected profit. Surge pricing for sure, but even just the uncertainty about lengths of rides. A long ride is far more profitable than a series of short ones summing to that length.
-
Very true. Also imagine there's huge variability in geography, both based on where you live/start from and based on the neighborhoods/times you are able to drive. I'm willing to bet nearly all of the top 20% earners are firmly in central districts of large MSAs / big transit hubs
-
I'd also bet money that Monday morning is among the most profitable times. (Business travelers heading to catch a plane)
End of conversation
New conversation -
-
-
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Didn't need an MIT survey for that
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
It's simple math. In LV Drivers get $.90 a mile and $9 per hr. Uber gets 25% of that. You drive an unpaid mile and hour for each 1 you get paid. AAA reports avg cost per mile is $.60. You do the math. And if don't, then you know why so many sign up...and then quit
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Both are SCAMS. Unfortunately plenty of dumb people falling for it.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Lol only if they didn't know how, if they're in mid city or smaller, wrong Location, or don't know how do airport correctly, then yes. For me, I'm making 17.50 an hour after ALL expenses. Drivers, Get cargo! Get a little extra money!https://u5119981.ct.sendgrid.net/wf/click?upn=eaXzPgNGLs92FqeGzeLJpv9FxFidCJYBBkK7q-2FYX57Iw7NsRXUBNZ6MBp4Ka6NFYuUWwLaEepKLgcotFFSkkwAtESZlyOGCXbNtX0B8iGZcvecuoAAt1R0pTgM15lTEFFMjf11K-2FfN0l5o4GIaxR53h-2B8gvZ8A2fQwllw3nhRAtjHb0uCuLyxgr98AZLp3eQ_4CrGkda5mpgatZK-2B-2F9884cq42hJVrOckMYucx8RmshNPEn-2FEHZYG0EuHVNrupqIN-2F-2BCLCmmgk5Tuv87KyMy1J7xRkx6D0oZQSciOZZRE-2FmoB4m6Ono6QJvyz3jglshQ73nGXgoaW3XODqGUxHjeaUY-2BxHBfF-2FZCTWvYSY-2FIbeNWbOhToue9jQHQlDbZxSh7ls5HFKWQIlXZYP6R5HNGHN3JmAWxrrtOwXxgdvw-2FQcss-3D …
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Hey guys I unicorned a Taxi app and convinced the mayor 
that the ride sharing wasa differents then the taxi sharing cause my vehicle is a new ownership and a taxi cab is yellow.
#SilliconValleyMeetings - End of conversation
New conversation -
-
-
We are all aware of this, the government turns a blind eye to it. They don’t want to risk people’s jobs. It has nothing to do with the billion dollar companies, their donations and lobbyists.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.
