Why Uber Is A Scam - Math Explains

Описание

Ok so I was looking at this graph put on Uber’s website today and thought it looked too good to be true. How amazing that Uber drivers make more than any other type of driver.
But I knew from my own experience as a rider that Uber didn’t cost that much. In fact, Uber is pretty cheap if you’re a passenger.
Sooooo…. how can uber be so cheap, and yet the drivers make so much money???

Now Uber has cut pay to drivers in Detroit to 24cents a mile , but we’re going to stick to the 90c for now.

Uber takes 20% of the total fare from the driver for older drivers. Newer drivers get 25% taken.

So we’re down to 67.5c per mile.

Then you have to deduct tax:
In some LA County's, sales tax is as high as 10%, and Uber doesn’t withold taxes for you. The drives are responsible for keeping this money aside to pay the tax department in April.

So with the 10% deducted, we’re down to (just over 60 cents) 60.75c

Now we need to factor in depreciation of the car. A car is an asset like anything else, and will eventually wear out and you’ll have to buy a new one. Every mile you drive decreases the value of your car and brings you that much closer to needing a new one. This is a big problem if you drive for a living, you’re going to need to buy a new car every two or three years and the cost of a new car is significant.

The IRS estimates vehicle cost to drive a vehicle for work at $0.54 a mile .
Broken down into
Fuel costs @ an average of 12c per mile
Depreciation at $0.24c per mile.
Repairs, tyres, & maintainence at 9c per mile
Insurance, licence, registration, finance, fees - average out to around 9c per mile

So with 54c depreciation, repairs, and fuel accounted for, we’re down to just over 6c per mile that actually goes into your hands of drivers.

Given that Uber also asks its drivers to buy things like bottles of water, gum, and chargers for it’s passengers, we can say for certain that driving for Uber pays well below minimum wage or even worse, costing drivers money (as is seen directly in this actual fare uber charged one of it’s drivers).

So given the math is so bad, why does anyone drive for Uber?
Here’s an example of a post an Uber driver posted - he was $400 behind on the rent, and needed to make up some quick cash. In a way, uber is kind of like a loans scheme.

Now for some people in desperate circumstances, what Uber’s offering might be an acceptable deal. But for most people, driving for Uber is a waste of time. I wish Uber would be more honest with people. By our calculations, the amount you’re making as an uber driver is nowhere near $19 per hour. If you drive 30 miles per hour at 6.75c per hour, you’re only making $2.00 per mile - by far the worst choice of any transportation job.

This number is supported by Not Cool Uber, who have tracked hourly earnings to be around $2.89 and, after vehicle fees are taken into account, $0.

Now – I’m not against car pooling. We all need transport, and I know I am a frequent user of Uber & Lyft. But I think that Uber is going about it in an unethical way, which makes me unethical for supporting them as a customer.

Uber could easily fix this situation : by reducing their commission, by making rates more reasonable, by giving riders the option to Tip their drivers, or just by being transparent. But that would mean admitting that they’ve generated significant revenue from effectively exploiting their drivers. So the truth is, Uber benefits from maintaining this status quo. Uber is currently reported to be making $10 billion in revenue per year - and that money has to come from someone.

Just don’t let that someone be you.

SOURCES
http://www.bloomberg.com/news/articles/2015-12-03/uber-raises-funding-at-62-5-valuation
http://observer.com/2016/01/uber-drivers-plan-boycott-after-fare-cuts-slash-their-earnings-to-below-minimum-wage/

This video is presented by Jayde Lovell, produced and edited by Yohana Yoshe and Janina Soriano.

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10 Things I Wish I Knew BEFORE Driving for Uber & Lyft

10 Things I Wish I Knew BEFORE Driving for Uber & Lyft

I've done hundreds of rides for Uber and Lyft, and there's a lot of things that I wish I knew BEFORE driving for them. In this video I explain the top 10 things that you should know before driving for a ridesharing app Sign up with Uber here: https://get.uber.com/drive?invite_code=he2ae Sign up with Lyft here: https://www.lyft.com/drivers/MARC393309 Check out my music here: https://open.spotify.com/artist/2JPY2P7Q4hYZhuSkPmvWqi Part 2 (10 other things I wish I knew BEFORE driving): https://www.youtube.com/watch?v=ac7Kx8xsUvM More Uber & Lyft Technique Videos: https://www.youtube.com/playlist?list=PLC6_h3BCPalXHZS0sOMBXQzdGpJPkHeHA - - - Marc Freccero is a DJ, Electronic Music Producer and YouTuber. Listen To My Music Here: Spotify: http://smarturl.it/FrecceroSpotify iTunes: http://smarturl.it/FrecceroiTunes Amazon: http://smarturl.it/FrecceroAmazon Soundcloud: http://smarturl.it/FrecceroSoundcloud Follow Me Online Here: Facebook: http://www.facebook.com/MarcFreccero Twitter: http://www.twitter.com/MarcFreccero Instagram: http://www.instagram.com/MarcFreccero YouTube: http://www.youtube.com/MarcFreccero - - -

2 лет назад
DO NOT DRIVE FOR uberEATS - Full Day Earnings Report

DO NOT DRIVE FOR uberEATS - Full Day Earnings Report

Enter our monthly giveaway $100 worth of prizes - https://gleam.io/sXm6X/4x-25-bitcoinmerchcom-gift-cards-giveaway Yep.... don't be an uber slave please. It was not a good experience for me. Comment below your own experience!

6 месяцев назад
Picking Up UBER Riders In A Lamborghini!

Picking Up UBER Riders In A Lamborghini!

I'M GIVING AWAY A BMW M3! Here's how to win: Sign up for a pro membership at https://likegravity.com/pro 1. You'll get access to all Vehicle Virgins videos a day early 2. You'll get discounts at the VV merchandise store when it drops 3. No ads 4. Personal responses from me to your comments :) 5. Monthly membership = one entry in the giveaway 6. Yearly membership = 12 entries in the giveaway GOOD LUCK!!! https://likegravity.com/pro Help VV reach 1,000,000 subs :)! http://tinyurl.com/hg7tg68 Follow VV on Instagram for behind the scenes! @VehicleVirgins https://www.instagram.com/vehiclevirgins/ PO BOX / Shipping Address Parker Nirenstein 2708 Wilshire Blvd #184 Santa Monica, CA 90403 Like us on Facebook! https://www.facebook.com/vehiclevirgins Vehicle Virgins seeks to provide the most informative, relatable, funny automotive videos and reviews every day of the week. No matter what you drive, if you have a passion for cars or want to learn more about the amazing automotive community, join the VV community for a hell of a ride!

2 лет назад
Why Can't Uber Drivers See Rider's Destination Before Accepting a Trip?

Why Can't Uber Drivers See Rider's Destination Before Accepting a Trip?

If you've ever wondered why you can't see your passengers destination, I explain why in this video. Basically, Uber is trying to avoid one of the problems taxis ran into - filtering out short rides. Here are some ideas for getting around this and finding out your pax destination before driving. Sign up for QBSE here: http://www.therideshareguy.com/youtube/nativeintuit Funny Uber driver t-shirts and sweaters: https://therideshareguy.com/merch Interested in driving for Uber? Get up to a $500 sign-up bonus after you do 20 rides: http://www.therideshareguy.com/uber1 Interested in driving for Lyft? Get up to a $750 sign-up bonus after you sign up: http://www.therideshareguy.com/lyft1 Want to join hundreds of other drivers who are maximizing their rideshare profits? Check out our new video course: http://www.therideshareguy.com/mrp Looking for rideshare friendly insurance? http://therideshareguy.com/ins Wanna try out delivery? Doordash is hiring! Sign up here: http://www.therideshareguy.com/dd1 You can also sign up for Postmates here: http://therideshareguy.com/pm1 Want your first ride free on Uber? Use the code 'uberRideshareguy' and get $20 off your first ride: http://www.therideshareguy.com/uber2 Want your first ride free on Lyft? Use the code 'pf1' to get $10 off your first ride: http://therideshareguy.com/lyft2

3 лет назад
Driving For Uber, Sleeping In Her Car (HBO )

Driving For Uber, Sleeping In Her Car (HBO )

On Wednesday at 2:30 AM, Uber driver Terri White left her home in Stockton, California, and drove 83 miles to San Francisco for work. She wouldn’t be home until Friday afternoon. White naps in her car between rush hours and heats up her lunch at a local gas station. She says one in five Uber drivers she meets sleeps in their car. “I love people, I love being able to breathe the air, I’m not confined to a desk, and I can do what I want,” White told VICE News correspondent Nellie Bowles. “I don’t have to wait for someone to relieve me for a break or a lunch, I just do it.” Uber’s biggest competitor, Lyft, locks drivers out of the platform after they’ve worked 14 hours in a day. Uber does not. Watch what its like to be an Uber driver in a city you can't afford to live in. Read: "Uber is trying to convince Europe's highest court that it's not a taxi service" - http://bit.ly/2hA9ORR Read: "Uber drivers discriminate against black users, new study says" - http://bit.ly/2h2o2dn Subscribe to VICE News here: http://bit.ly/Subscribe-to-VICE-News Check out VICE News for more: http://vicenews.com Follow VICE News here: Facebook: https://www.facebook.com/vicenews Twitter: https://twitter.com/vicenews Tumblr: http://vicenews.tumblr.com/ Instagram: http://instagram.com/vicenews More videos from the VICE network: https://www.fb.com/vicevideo

2 лет назад
Do Uber drivers earn less than minimum wage? Jo Bertram answers - BBC Newsnight

Do Uber drivers earn less than minimum wage? Jo Bertram answers - BBC Newsnight

In light of the European Commission's warning to EU member states against unduly restricting services in the so-called collaborative economy, Newsnight's Evan Davis spoke to Jo Bertram - the woman who runs Uber in the UK, Ireland and the Nordics. Newsnight is the BBC's flagship news and current affairs TV programme - with analysis, debate, exclusives, and robust interviews. YouTube: https://www.youtube.com/user/BBCNewsnight Twitter: https://twitter.com/BBCNewsnight Facebook: https://www.facebook.com/bbcnewsnight Snapchat: https://www.snapchat.com/add/bbcnewsnight

3 лет назад
UberPOOL Problem

UberPOOL Problem

This video is about UberPOOL, the problem drivers face when customers don't realize their app defaulted to "POOL" and the tension that follows.

3 лет назад
RIDESHARING | Why I Quit Driving For Lyft and Uber

RIDESHARING | Why I Quit Driving For Lyft and Uber

Hey guys! I just wanted to let you know my reasons for no longer driving. Please know these are my decisions and they are different for everyone. Thank you so much for watching! Please subscribe! :) Check out my podcast! Anchor: https://anchor.fm/tinkslife Apple: https://itunes.apple.com/us/podcast/change-your-life-with-tink/id1419858286 Google: https://www.google.com/podcasts? feed=aHR0cHM6Ly9hbmNob3IuZm0vcy81MTU2NjM0L3BvZGNhc3QvcnNz Spotify: https://open.spotify.com/show/44UUaOrCNFsNo4vgRKad03 Breaker: https://www.breaker.audio/change-your-life-with-tink Overcast: https://overcast.fm/itunes1419858286/change-your-life-with-tink Pocket Casts: https://pca.st/N0Wn RadioPublic: https://play.radiopublic.com/change-your-life-with-tink-WDRj1l Stitcher: https://www.stitcher.com/podcast/anchor-podcasts/change-your-life-with-tink FOLLOW ME: Facebook: http://facebook.com/tinkslife85 Instagram: https://instagram.com/tinkslife85/ Twitter: https://twitter.com/abrandt0524 Tumblr: http://araybrandt.tumblr.com/ Snapchat: abrandt0524

4 лет назад
How to be a top 1% Uber Driver

How to be a top 1% Uber Driver

My tips, tricks and strategies to getting 5 stars every time while making more money. My Uber Code: nk3ntq7rue Lyft Code: Brian101745 Multi tip Charger -https://www.amazon.com/gp/product/B00VUNHJCS/ref=oh_aui_detailpage_o02_s00?ie=UTF8&psc=1 Barf Bags- https://www.amazon.com/gp/product/B003Y7HIMY/ref=oh_aui_detailpage_o04_s00?ie=UTF8&psc=1 Car Vac- https://www.amazon.com/gp/product/B000Q9X9TY/ref=oh_aui_detailpage_o04_s01?ie=UTF8&psc=1

3 лет назад
UBER - I Earned 6500 First Month

UBER - I Earned 6500 First Month

UBER ! UBER ! UBER ! Do you see more and more Uber drivers are getting on the road recently? A lot of people, my friends and customers, are very curious how much money I make every month, because they really want to know a typical Uber driver income and so they can decide to try to drive Uber themselves or not. Now let me show you my income statement on my first month driving Uber, please carefully watch it on the video I show. Me, I am a typical Uber driver. I've been driving Uber for more than half a year. At the very beginning, my friend encouraged me to try driving Uber, but I was not very motivated and I had a couple concerns like you do now. First concern: I saw there were already too many Uber drivers road, so I assumed the market was quite competive, and I believed I'd have no chance to compete against those experienced Uber drivers. I thought making a good money should be difficult for me. But I was wrong. It's not about competing against other Uber drivers as I thought. Uber needs way more drivers than they did before because the demand on the big cities like San Francisco, Los Angeles and New York etc. is always high. So Uber is willing to give out so much bonus to attract new and old Uber drivers. Second Concern: I thought that driving was exhausting. I was not a super good driver, I had to look at the GPS while I was driving all the time. I thought it'd be easy to get into a car accident, right? But I was wrong again. In half a year driving, practice made me a super good driver now. Practice always made perfection. I am positive that I can now drive for 10 hours without getting tired at all. So how did I eventually decide that I wanted to try to drive Uber? The first huge motivation was Uber is always giving out all new drivers a big bonus of 1000 dollars. Right! It's a 1000 bill for a new Uber driver to finish the first 100 tips in the first month. Probably you have a stable job now, you think you cannot finish the task on time. But don't you worry about that. I am 100% sure that you will have plenty of time to finish the 100 trips. I personally finished the 100 trips in four days straight. I was shocked at my own hard work, I never thought I could be that great. You can do it like I do! The second reason that I drove Uber was I quit my last boring job I had. That job was low paying job, and it's very stressful, I had to get up super early to go to work. I tried to find a better job to replace it but I couldn't. So I tried to drive Uber. Right after I tried it, I realized I am fond of this career. I became my own boss, my schedule is so much flexible. I can have my day-off anytime. No boss and managers yell at what I do. I am enjoying this pace of my job. The third reason for driving Uber is I get much more familiar with the city I am living in. Even though I've been living here San Francisco for a long time, I didn't know anything deep about the city. But now after talking too different people, I know very little interest places and events in the cites. I feel myself love this city more and more. I can talk to different people and make new friends. I hear interesting stories from people from around the world. I am getting a happiest lifestyle I never got before. Let me wrap this video! Uber driving, I earned $6000-$7000 thousand in just one month, in my first month! Are you not motivated to try Uber now? If you do want to, please do not hesitate to give me a call or text me at the number on the screen. Remember my name Mike. When you are earning money, I do earn money too. I'm part of Uber,besides driving Uber myself, my main task is to help you finish all the procedures of getting an Uber account. So you can get on the road, and start your Uber career. I am now very familiar with the San Francisco area, I will teach how to drive the best roads in the city and maximize your Uber income. So let's get in touch. Cheers! The End It's Uber bonus. It's Lyft bonus. It's How to earn money driving Uber. It's Uber secret. It's Uber success stories. It's Uber successful career. It's what is the difference between Uber and Lyft. It's How much can you make driving Uber. It's Uber income. It's how much can I make driving Uber. It's driving Uber income. It's how to make money. It's how to make good money.

3 лет назад
Uber fires drivers who only work during surge pricing

Uber fires drivers who only work during surge pricing

Ride-share services Uber fires more than 100 local drivers accusing them of fraudulent activity.

1 лет назад
The math of being a Lyft driver

The math of being a Lyft driver

Lyft says drivers can make $35 an hour. Our own Tim Lee put that to the test. For more, here's our feature story on Lyft: http://www.vox.com/2014/12/17/7402311/lyft-driver-pay Subscribe to our channel! http://www.youtube.com/subscription_center?add_user=voxdotcom Vox.com is news website that helps you cut through the noise and understand what's really driving the events in the headlines. Check out http://www.vox.com to get up to speed on everything from Kurdistan to the Kim Kardashian app. Check out our full video catalog: youtube.com/voxdotcom/videos Follow Vox on Twitter: https://twitter.com/voxdotcom Or on Facebook: https://www.facebook.com/Vox

4 лет назад
Uber vs Lyft - Which Pays Better? - Ridesharing Comparison

Uber vs Lyft - Which Pays Better? - Ridesharing Comparison

Who was first, Uber or Lyft? Which is best for passengers? Which is best for drivers? We thought it would be fun to compare these two ride-hailing giants, in this episode of The Infographics Show, Uber vs Lyft. ⭐SUBSCRIBE: http://bit.ly/2glTFyc ⭐ SUPPORT US: Patreon.......► https://www.patreon.com/theinfographicsshow CHAT: DISCORD.....►https://discord.gg/chvV4 SOCIAL: Facebook...► https://facebook.com/TheInfographicsShow Instagram..►https://www.instagram.com/theinfographicsshow Twitter........► https://twitter.com/TheInfoShow Subreddit...► http://reddit.com/r/TheInfographicsShow -------------------------------------------------------------------------- Sources for this episode:

2 лет назад
Lyft/Uber: Things I Wish I'd Known Before I Started Driving

Lyft/Uber: Things I Wish I'd Known Before I Started Driving

Want to be a Lyft driver? Use this link before you sign up for both of us to get bonuses! https://www.lyft.com/drivers/MUNCHKYM Want to be an Uber driver? Use this link before you sign up for both of us to get bonuses! https://partners.uber.com/i/kymc181ue Having trouble with a code?? Email me! munchkym@gmail.com My email associated with my Uber and Lyft accounts is themunchkym@gmail.com Want a free rider credit for Lyft? Follow this link (no survey or scams, just benefits me and you!) https://www.lyft.com/invite/THEMUNCHKYM Want a free rider credit for Uber? Follow this link: https://uber.com/i/kymc181ue Want to support me directly? You can support my videos and get extra content here: https://www.patreon.com/Munchkym My favorite phone mount: https://www.amazon.com/iOttie-Universal-Holder-iPhone-Samsung/dp/B00JRGOKQ8?ref=ast_p_ep Feel free to ask questions in the comments and I'll answer them in future videos! My links! Tumblr: http://www.themunchkym.tumblr.com Twitter: http://www.twitter.com/themunchkym Facebook: https://www.facebook.com/TheMunchKymVids/ Intro graphic by: https://www.instagram.com/ezraterrestrial/

1 лет назад