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This might verify people's misconception that as long as there is cash flow, there is a profit. A lot of people think this when they look at a business, but they don't seem to consider the bottom line.
Similar experience - I've talked with a lot of drivers about their business, and perhaps 80% seem to have seriously bad models.
Uber/Lyft earnings analyses miss the importance of cashflow vs profit. Sure, you might make a low-ish wage after factoring in maintenance & depreciation - but large maintenance expenses happen later, and cash happens now. Drivers can 'borrow' from future at a zero interest rate.
If you are paycheck-to-paycheck and need $3k, and you can earn $3k now but have to pay for a new $2k transmission in 2 years, that's a *great* option. Wage analyses miss the whole point: in periods where you don't have cash, cashflow is all that matters.
(One driver, though, knew everything down to the dime, and had a specific date set for retirement - he even told me how many years, months, and days it was away. That was an amazing conversation. He'd built and reviewed daily a big spreadsheet model, IIRC.)
For this driver, (s)he might retire rich. For the others, it's a question mark. It's useful to have a reference cost. i.e. the cost of driving a car is about $0.58/mile, the US government car mileage reimbursement rate.
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