The reason there is such high turnover is because the rates are so low most people cannot justify the effort.

Uber’s rates are less than half of a taxi on average. The reason they are losing money is because they are fighting for market share via a price war with Lyft. Rideshare should raise rates at least 50%, therein paying drivers 50% more, and as a consequence their commissions would increase proportionately. Clearly, the…

I am not defending Uber or Lyft at all but find it ironic, if true, that cab drivers are making less than minimum wage while charging 2-3x of what cabs do.

Uber leasing cars to people who likely will not make enough money on fares to support themselves nor the vehicle to which they have indebted themselves seems like a trap that they’ve worked out with car manufacturers and big banks. Housing bubble 2.0, student loan bubble, and uber bubble all set to pop about 2019.

this is exactly right

They are going to subcontract to fleets of privately leased cars driven by zero interest rates.

The way for Uber to make money is to raise rates. It is half the price or less of a taxi with brand loyalty and an exponentially higher user experience. Since Uber and Lyft are basically being operated down the block from one another, it is hard to imagine that they couldn't give each other the ol wink wink nod nod…