My father gave a sign-of-the-economy update for Chicago worth sharing, from a friend who hires material numbers of retail workers: “Harder than ever to keep the best people. Anyone organized enough to keep a car running does Uber/Lyft/etc. Better money, better shifts, no boss.”
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All the research I've seen indicates that people don't get paid great after expenses (e.g. https://www.recode.net/2018/10/2/17924628/uber-drivers-make-hourly-expenses … and http://www.mrmoneymustache.com/2017/11/22/mr-money-mustache-uber-driver/ …).
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I think behavioral economics is at play here. Drivers are likely to brag about their good nights to friends. People driving are likely to have an unsophisticated network. Confirmation bias is at play, as no one wants to admit to themselves they've been getting ripped off.
End of conversation
New conversation -
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I suspect equilibrium takes a long time - similar to the asset life of a car; enlightenment most likely comes when you have to replace that car. Q is, does expiry date on drivers inability to properly account come sooner, or later, than the expiry date on Uber's business model?
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