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I Have Been Driving Uber/lyft For 3 Months..ask Me Anything


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#81 gruven

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Posted 17 August 2016 - 06:56 AM

View PostMapleLeafpoker, on 17 August 2016 - 06:53 AM, said:

I'm with Chris, Im still having a tough time figuring out how once you put in ALL of the factors, this makes financial sense.

How did the surgery go Chris? Are you just resting at home now, how long?
surgery was good, he did more than he expected so pretty banged up right now. Probably 48 hours off my feet. Thanks for asking!
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#82 Zach6668

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Posted 17 August 2016 - 07:57 AM

View PostMapleLeafpoker, on 17 August 2016 - 06:53 AM, said:

I'm with Chris, Im still having a tough time figuring out how once you put in ALL of the factors, this makes financial sense.

How did the surgery go Chris? Are you just resting at home now, how long?

Driving as a job in general always felt like a scam. When I delivered pizzas like 3 years ago, I was getting paid $7/hr plus 0.65 per delivery. I kept all my tips of course, but had to pay for gas and maintenance on my own. I kept good records and would end up averaging about $11 per hour or something. Barley minimum wage. But I also didn't factor in maintenance and wear and tear, which was huge on my pile of shit car.
QUOTE (serge @ Tuesday, May 12th, 2009, 7:20 PM) <{POST_SNAPBACK}>
LETS GO PITTSBURGH
QUOTE (Acid_Knight @ Monday, March 10th, 2008, 4:15 PM) <{POST_SNAPBACK}>
Zach is right about pretty much everything.

#83 Zach6668

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Posted 17 August 2016 - 07:58 AM

Point is I think they get you because most people don't think to factor in the costs of driving. Not just for a job. Real life too, but we won't go there. They underestimate it since so much of it is sunk or big lump sums that occur infrequently.
QUOTE (serge @ Tuesday, May 12th, 2009, 7:20 PM) <{POST_SNAPBACK}>
LETS GO PITTSBURGH
QUOTE (Acid_Knight @ Monday, March 10th, 2008, 4:15 PM) <{POST_SNAPBACK}>
Zach is right about pretty much everything.

#84 MapleLeafpoker

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Posted 17 August 2016 - 08:00 AM

View PostZach6668, on 17 August 2016 - 07:58 AM, said:

Point is I think they get you because most people don't think to factor in the costs of driving. Not just for a job. Real life too, but we won't go there. They underestimate it since so much of it is sunk or big lump sums that occur infrequently.

Ya, this has always been my thoughts on it too.

#85 Babying

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Posted 17 August 2016 - 08:06 AM

View PostZach6668, on 17 August 2016 - 07:57 AM, said:



Driving as a job in general always felt like a scam. When I delivered pizzas like 3 years ago, I was getting paid $7/hr plus 0.65 per delivery. I kept all my tips of course, but had to pay for gas and maintenance on my own. I kept good records and would end up averaging about $11 per hour or something. Barley minimum wage. But I also didn't factor in maintenance and wear and tear, which was huge on my pile of shit car.

I delivered Chinese food for many many years. I can honestly say that tips were gross. Many times it was keep the change and it was like 15 cents.

#86 serge

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Posted 17 August 2016 - 08:20 AM

I can only speak from my experience..Lot of the Uber drivers out there arent very experienced and not aware of all the pitfalls..

You need to be smart and efficient in your driving hours..Took me a couple of weeks to figure it out..Uber in most areas is not much better than a minimum wage job if you just look at the financials you are presented with.

HOWEVER,

Most drivers that do well are doing it due to guarantees and driving in high demand times..I drive less frequently in Fresno now and just drive in San Francisco area when I have time..

In San Francisco there is no downtime. Right after you drop off a rider, you get 'pinged' and its usually within a mile and 2-3 minutes away. Dead miles are minimal. Also in SF its usually surging. On top of the second highest Uber rate in the world( behind NYC) a 1.5x to 2.5x surge is pretty normal to see.

Also I now get guarantees in the SF area..Just to give you an idea this week's guarantees:

Friday 7-9 am $50 per hour
2pm - 5pm $35 per hour
5pm - 10pm $40 per hour
10pm - 230 am $45 per hour

So for example if you drove Friday from 7-9 am in the SF area for the 2 hours you are guaranteed $100..If you make more great..If you make less they top it up..

Uber is i believe in 473 cities worldwide...Every market is very unique..For example in Fresno the rates are .80/ mile and .10 per minute...However in San Francisco its $1.15/ mile and .22 per minute....IN Nyc its $1.75 per mile...

I have made my calculations and unless I am making $30 an hour plus its not worth my time based on all the hidden expenses...That is not realistic in Fresno at 1pm in the afternoon...On weekends and early morning hours its pretty doable..
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#87 serge

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Posted 17 August 2016 - 08:32 AM

Btw if you arent tipping your Uber driver on a short trip you really should consider doing it..The trips that are financially close to a negative return for the driver are the the short min rides that we make less than $4 on..Unfortunately with the way the technology is we dont know if you are going 2 miles or 50 miles before we start the trip..This is obviously to protect the rider...Because we would never pick up anyone going around the corner..

As a rider you might say well its not my responsibility to tip....Its now common courtesy to tip, after drivers basically fought Uber to accept tips..

Tips are a good portion of our take...Generally more people are tipping now..From $2 to several $20 tips for airport runs..

Lot of you are probably not familiar with Lyft..Lyft is a major competitor to Uber..Lyft is only available in the States and a few asian cities.It is very popular in California...Typically on most days Lyft is probably about 40-50 percent of my rides..

Lyft treats the drivers a lot better, takes a smaller cut and the main thing is it allows in app tipping...
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#88 serge

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Posted 17 August 2016 - 08:50 AM

The interesting thing will be to see how Uber will keep up and continue to grow ...Some people have the company valued at over $60 billion..They are constantly getting huge infusion of money and from the optics they are bleeding money by the day as they try and dominate the world..

This number is just ridicolous..Uber is valued at higher than actual car companies like Honda and GM at the current valuation.

If you are to believe the valuation, could essentially tech company which is an app be worth more than Costco??
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#89 FCP Bob

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Posted 17 August 2016 - 11:11 AM


An Expert in Valuation Says Uber Is Only Worth $28 Billion, Not $62.5 Billion

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#90 serge

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Posted 17 August 2016 - 11:37 AM

View PostFCP Bob, on 17 August 2016 - 11:11 AM, said:


I like that article. It's tough to valuate a private company exactly.

Uber s challenge is to be profitable. Right now they have certain challenges. They are giving so much away and the driver turnover is so huge that they have to find an equilibrium where both rider and driver are happy at a profit.

Here is an example of what they are doing.

In SF I get $700 for each driver referral. Once they complete 100 rides boom $700 in my account.

In other markets like Fresno it's only a $100. But with all the promotions , giveaways, incentives it's tough to be profitable. However in sure they know what they are doing.
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#91 serge

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Posted 18 August 2016 - 03:52 PM

Drove 2 nice guys to the airport early morning. Big sports fans we talked a lot of baseball.

After dropping them off i notice a wallet. One of the guys dropped it.

There is about $500 in cash and all important ID and credit cards. I rush back find them and the guy is pretty happy.

He gave me $20.

Never once crossed my mind to keep any of cash in wallet but I'm sure there is a part of population that would. I like to think its a small number that wouldn't do what I did.
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#92 Babying

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Posted 18 August 2016 - 04:03 PM

I don't know. I think there are more who would do it

I found a wallet at Leaside last month while buying bagels. I dropped it off at his home but he was not home. I am guessing he was running around trying to find it

Inside was about $100 and his info

Another story was a hybrid car ran out of fuel on a hill. It was winter and I drove him in my suv to get gas. Did not know his girlfriend was still in the car and it was cold outside. A month latter I found a $25 gift card for gas in my office mailbox

#93 gruven

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Posted 19 August 2016 - 09:37 AM

http://mobile.reuter...e/idUSKCN10T2CK
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#94 serge

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Posted 19 August 2016 - 10:57 AM

Unfortunately I'm not part of the class action.
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#95 gruven

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Posted 25 August 2016 - 10:55 AM

According to Reuters, uber lost 1.26 billion in the first half of 2016
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#96 serge

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Posted 31 August 2016 - 02:35 PM

I am actually a part of this class action lawsuit vs Lyft...They will be settling for $27 million with drivers in California...I have no idea what I am entitled to as I came in near the end, its a complicated process of breaking up the money based on hours, averages etc..

http://www.reuters.c...s-idUSKCN0Y22PJ

They said payouts could be up to $10000 for some drivers..Ill probably end up getting like $4.34..

Never been part of a class action before, its pretty interesting the process and it was pretty easy to join..

Only thing we agree to is we cant participate in further lawsuits.
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#97 serge

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Posted 10 September 2016 - 07:15 AM

So i get a guy im driving the other day..After about 10 min conversation he says, you are Canadian arent you?

Im like wtf? I m looking around to see if I am wearing any Jays or Leafs stuff, or Adrian or Mateo left a puck in the car...Nothing....He says I can tell by your accent..

I never realized I had an accent that is Canadian..Then he said it was how I said "aboot"...Sometimes I have to catch myself before using words that arent used here like washroom, pop etc...But never realized I had an accent.
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#98 Babying

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Posted 10 September 2016 - 08:01 AM

View Postserge, on 10 September 2016 - 07:15 AM, said:

So i get a guy im driving the other day..After about 10 min conversation he says, you are Canadian arent you?

Im like wtf? I m looking around to see if I am wearing any Jays or Leafs stuff, or Adrian or Mateo left a puck in the car...Nothing....He says I can tell by your accent..

I never realized I had an accent that is Canadian..Then he said it was how I said "aboot"...Sometimes I have to catch myself before using words that arent used here like washroom, pop etc...But never realized I had an accent.

I got that when I was in Baltimore playing poker at the casino. They knew I was Canadian and said I had an accent.




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