Uber FutureAbout the future
Over loses a lot of cash, but only half as much as in the first quarter of 2017, doubling the bottom line for Silicon Valley.
A little lower, however, these figures uncover a disturbing fact: while the company's revenues rose 70% in 2017 compared to 2016, booking (total revenue from trips) rose only 55%, suggesting that over an even greater part of the cake has cut away for itself and reduced the already meagre revenue of its riders.
At that time, the Center for Energy and Environmental Policy Research at MIT found in a March 2018 survey that Uber had scored its triumph in an old-fashioned way, i.e. on the backs of its employees. MIT' came to the conclusion that 74% of Uber (and Lyft) riders earned less than the statutory wages of the state in which they work.
Uber, however, immediately questioned the MIT results and, somewhat unexpectedly, admitted that his method could be faulty (a few important poll issues were unclear) and that different attempts at the same dates indicated that Uber riders were earning somewhere in the $8-10 per h. area. The MIT asked Uber to share its own in-house information to resolve the problem, but the corporation apparently declined.
Whilst this discussion should have reminded us that the economics of the Côte d'Ivoire should be considered with the scepticism of Pontifical cops, this document is supported by the fact that, according to what kind of untrusted web resource you believe, somewhere between 50% and 96% of all over-drivers resigned each year. However, put aside the distress of his driver for a second, breathe deeply and just recognize that Uber is about the best thing that has happened to transport since Henry Ford, whereby the company's cab services are what a bike is for going.
Over is a huge hit for its user and from their point of view virtually impeccable, just as it is. It has a great project and should be very successfull, but its foundations are poor quality cement. However, we cannot make the switch from a promissing start-up to a robust ATM with a heavily low-paid work force.
He could strengthen his fundamentals by concluding a new contract with his riders by enabling them to get back their real travel expenses and a minimal hours' pay before the business took over its 25% stake in total sales. Could be a business that not only offers an outstanding quality but also a great one to work for (e.g. Costco).
However, a livelihood pay would erode millions from the company's value, increasing the probability of such a transfer at eye level with Elon Musk colonising Mars. Alternatively, the undertaking could increase its tariffs so high that it offers a fair remuneration within its present turnover-sharing scheme.
A little too simple (as your interviewer once did), you could compare Uber to a three-legged footstool consisting of clients, riders and the comany. At second glance, there is a point to a forth milestone - the enviroment, the towns where rides block the roads - and why a reduction in their omnipresence, whether voluntary or through regulations, can be a good thing.
The Chicago Tribune says a typically San Francisco day of the week has a driver who makes more than 170,000 car journeys, about twelvefold the number of cab rides, centred in the city's most terrible traffic jam. The latest numbers from the American Publics Transportation Association show that the number of passengers on local buses has fallen by 2.9% at a rate when the number of passengers following a job should have increased otherwise; when over is low enough, passengers get off the buss.
An increase in rate would help the driver and relieve some of the burden on the inner cities, but since this would be an important downer for the founder, the probability that Uber will do so willingly, using the Musk Range, is at eye level with Elon who is actually leaving Tesla.
It seems that Uber has another future in store for itself, one free of riders and their confusing requirements, one that was actually colourfully portrayed 28 years ago in this sci-fi epic Total Recall: the fully self-contained, all-electric Johnny Cab: Whether Hollywood-inspired or not, more than three years ago Uber courageously announced the launch of a motor car group.
However, this navy has so far followed the path of the Spanish Armada and has caused nothing but sadness as the death of the pedestrians in March 2018 in Arizona forced the airline to put the programme on ice and stop all tests. If they had given the film a little more prominence - especially the part where Johnny Cab goes out in a fully automated ball of fire with the kind permission of Arnold Schwarzenegger - the Uber rulers might have chosen to conserve the billion they spend on self-propelled equipment, have someone make Johnny Cab and could have just given their riders a paycheck.