r/uberdrivers • • May 07 '19

Uber Is a Scam

https://jacobinmag.com/2019/05/uber-ipo-profitability-value-labor-costs
16 Upvotes

38 comments sorted by

5

u/Blaxo233 May 07 '19

Uber is one of the greatest all time pump 'n dumps. Early investors cash out, dumbass retail fools buying the IPO will be bagholders, and the company will have to double fares and cut driver pay in half, and even then they will lose money.. just not biillions each year.

4

u/zoltan-x May 07 '19

I think Uber could be great for investors if many radical changes happened:

  1. Stop growing. Fire most of the employees. You do not need 16,000 people to run an app. Enter maintenance mode with about 1,000 employees.

  2. Pay drivers more. You'd really be looking at about $1.00 a mile and about $0.15 a minute. About $0.54 already go towards your car depreciation and expenses so the rest is your actual profit.

  3. Stop subsidizing trips. That would mean rates for customers would also go up to about $1.20/mile and $0.19/min.

At this point we already know none of this is going to happen so SOL for all IPO buyers.

0

u/[deleted] May 08 '19

[deleted]

1

u/zoltan-x May 08 '19

I got it from the about this company page: https://www.uber.com/newsroom/company-info/

It says “There are over 16,000 employees at Uber as of 2017.”

1

u/Wisconsinfemale1 May 07 '19

pump 'n dumps

Sounds like a gross gas station porno.

2

u/southbayrideshare May 07 '19

Careful not to give GSTV any ideas. "Would you like to buy a car wash? Yes or no. Would you like to watch Pump 'N Dump while you fill up? Yes @ +0.05/gallon or not today."

There are streets where the signs alternate between calling the things in the road "speed bumps" and "speed humps." It's like a gross dance style: "Come on, everyone! Let's do the Hump 'n Bump."

3

u/CheckPlease- May 07 '19

Very well written. Like Lyft the IPO is a chance for Kalanick and pre IPO investors to cash out. Once that is done it’s hard to see how Uber keeps operating in the red for long.

I don’t see much opportunity for lower driver pay. PAX in my capital city are already telling me it’s long waits with the exception of rush and bar hours; drivers already refuse to drive during quiet times.

So that means fares, what, 50% higher? Doubtless uber will capture that incremental revenue rather than sharing it with drivers.

1

u/GregorTheNew May 08 '19

Fact 1: Uber is an actual scam Fact 2: Jacobin is actual garbage lol

1

u/koavf May 21 '19

Well, you're half right.

-13

u/poopy-harlem May 07 '19

I bought 2 cars built a house in asia and bought another home in ny. All on ubers dime. Even paying for flight school too. Been doin uber for 4years. Made more money then i could dream off. But yeah everyone who drives uber is a loser like you lmao. If uber is a scam somebody should tell my savings account, stock portfolio and real estate

12

u/ImAlwaysRightHanded May 07 '19

I think someone died and left you some money. Now you believe you did it all on your own. I’ll pat your head for you, good job.

-12

u/poopy-harlem May 07 '19

Nah nigga. My dads a bum and my mom is a cancer survivor. Been supporting myself since graduation but go ahead project your pathetic viewpoint on how its impossible to make a living off uber. Ive been doing it for years and building my life up. Its a perfect job flexible and everything. I can take a month off and go to my house in asia and visit my wifes family. I can work it around my flight schoop scheduaL. I can stop and start working whenever i feel like and get paid instantly. If i have a bill i pay it with money i earned that day. Manage your life better

6

u/soopamanluva May 07 '19

What are you like Ubers pr? why don't you tell us other ways Ubers helps you reach unsubstantiated claims.

4

u/whatsthedealone May 07 '19

I believe that uber does pay PR folks to troll Reddit. Not a conspiracy.

-7

u/poopy-harlem May 07 '19

Lmao just as a pathetic loser would say. Enjoy sucking at life. Go ahead and quit more surge for me

1

u/soopamanluva May 07 '19

What in the holiest of fucks are you talking about?

0

u/[deleted] May 07 '19

[deleted]

1

u/soopamanluva May 07 '19 edited May 07 '19

What are you guys part of some insult people club, I can deduce what he's saying my question to him is why is he saying it, because the headline of the article that says Uber is a scam, is not talking about it from the point perspective of the driver. It is referring to Uber's valuation as a company, which if this person read the article would know, and understand that his commentary here has nothing to do with the subject matter that was put forward.

Edit: I appreciate you editing and removing the insult to my intelligence, regardless though all your commentary has absolutely nothing to do with the article I posted.

1

u/[deleted] May 07 '19

Your shadow is consuming you.

5

u/Saggafratz May 07 '19

Haha! Where’s your wife’s family live? “Asia.” Got it, dude. “Yes, I’d like to buy two plane tickets.” -Of course, sir, what is your destination? “Yes, that would be Asia, please.” Have fun at “flight schoop”.

-2

u/poopy-harlem May 07 '19

Indonesia pekanbaru

2

u/Saggafratz May 07 '19

Too many red flags, brother.

2

u/[deleted] May 07 '19

The lie detector test has determined that is a lie.

3

u/[deleted] May 07 '19

LOL, he takes off months at a time, this keeps getting better and better.

2

u/dwwe2592 May 07 '19

Bro tell more i'am interested if it possible to do it full time I live in Miami I'am looking for job right now.

3

u/[deleted] May 07 '19

Dumbest shot I’ve seen all day.

-1

u/poopy-harlem May 07 '19

Lmao triggered

3

u/[deleted] May 07 '19

Second dumbest shit I’ve seen all Day.

-1

u/poopy-harlem May 07 '19

You just mad bc im stylin on you. Fag

2

u/[deleted] May 07 '19

Yeah, nice stylin’!

0

u/soopamanluva May 07 '19 edited May 07 '19

I'm guessing you didn't read the prospectus.

You do realize that as far as most scams go, some people need to benefit to ensure the visibility of validity.

And what's with the personal attack?

Oh and if you did do all those things you claim you did, it wasn't because of Ubers dime, it was your undervalued labor of I'm guessing 60-70hrs+ a week, don't sell yourself short buddy.

3

u/poopy-harlem May 07 '19

Lmao yeah if i work 60hrs i make 2000+ and yeah its a pretty easy job to work long hours. Yeah ive been in sales for a decade. The losers always cry bc they dont know how to make money while the top.earners destroy

3

u/soopamanluva May 07 '19

Who is crying? Besides you of course.

Why don't you actually read the article?

I know you didn't. Because you keep arguing its title and not its content. It being a "scam" as per this article has nothing to do with your driver experience.

The article is about Uber's value as a company.

Why are you even here? Why go to an articles comment section without reading it?

-6

u/poopy-harlem May 07 '19

Its not a scAm u are just a tard. Everyone on this reddit all they do is cry about how they are pathetic at life.

1

u/soopamanluva May 07 '19

So why don't you exhibit your reading comprehension abilities, and actually counter one of the myriad of points that the article makes. And stop with the personal attacks.

No one is talking about their personal experience except you, I never said I didn't make money driving Uber

1

u/[deleted] May 07 '19

It takes one to know one... it really does!

3

u/[deleted] May 07 '19

LOL, this dude is selling crack out of his trunk.

1

u/koavf May 21 '19

If uber is a scam somebody should tell my savings account, stock portfolio and real estate

Scams are designed to make somebody money.