RSG252: Interview with Lyft CEO David Risher on New Driver Benefits
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- เผยแพร่เมื่อ 28 พ.ค. 2024
- In this episode Harry speaks with David Risher. David is the CEO of Lyft. David is on to talk about the slew of new driver benefits that were announced in the early 2024 driver release. Some of the new announcements are drivers earn 70% of rider fares after fees, guaranteed, See where every dollar of riders’ fares go, Earn more for waiting during scheduled rides, Find more ways to choose rides at the airport, Access new earning and navigation opportunities for EVs, Appeal deactivations easily in the Lyft app
0:00 Intros
1:53 What did Lyft improve?
3:08 What did Lyft change for fees?
14:05 How can drivers trust Lyft's transparency on fees?
17:01 What did Lyft change for deactivations?
23:10 How is Lyft addressing the problem with scheduled rides?
24:35 Why should you use Lyft's maps?
28:50 How much does David think drivers should make
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About The RideShare Guy:
I'm Harry, the founder of The Rideshare Guy. I started driving for Uber and Lyft in 2015 and eventually quit my day job as an aerospace engineer to run The Rideshare Guy full time.
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David's biggest problem is that he think drivers are stupid low IQ people, but they're not and some of us are much smarter than you. I've looked at your chart, you take "est external fees 26.6% and est Lyft fees 16.2%" a total 42.8%.
Now, if your expenses are so high then the solution is to increase your charges, not to make the driver work worthless.
Also, how do you explain it when you charge the rider $36 and pay the driver $14? Will wait for your answer.
Exactly what he thinks!
24 cent out of every dollar for 24% of the fare up front and they take 30% of the remaining percent on the back end. That’s 54% leaving us 46% or 46 cents out of every dollar. It’s a bad deal for drivers
Yup! Agreed! If Inflation is raising the price of insurance, then raise the fares dipsh*t David. Give the biggest cut to the driver. Pax will still take Lyft/Uber, they have to. I've noticed changes, I'm picking up more rides on other ppl's accounts, so pax are having their employers pay. Pax will still need rides when there are no taxi, rush hour and the like.
@@NoahJonesNews Your math is a little off. $1 - 0.24 up front leaves $0.76 remaining for the 70/30 split. The 70% minimum of $0.76 is $0.532 of every dollar paid to the driver as a minimum. The 30% side of that equation comes to $0.228 for Lyft. That means the driver would make at least 53.2% of the customer payment. Lyft will take at most 46.8% of the customer payment.
@@NateUE still barely over half for doing all the work is robbery. This is still a lie because I have personally received $10 out of a $33 fare recently. It seems like those who choose wait and save pay less and there isn’t as much of a take for Lyft.
This 70% after fees is a slap in the face. Why don’t drivers get to take out their fees for our insurance and taxes then Lyft and us can share the rest????
Exactly. Thank you.
If you’re a driver and think these people are here telling you the truth, you gotta think again… money is power nowadays . They will never give you 70% ever. They will say anything to cover up and keep drivers on the road and they’re here to convince drivers because they heard about the strike coming on Valentine Day… drivers need to wake up you sleep they take advantage of you all day long 😂😂 they do that because they have so many drivers who don’t know their game and pick up all the chip fair. And are okay to be treated poorly . what you can do as a driver just pick only a ride that pays you enough at the moment don’t rely , on bonuses or sages that’s trap they know how to play you and control you, so you can keep driving destroying your vehicle getting emotional exhaustion and they still get 70%% which you should get the 70% and you’re the one who do all the work Pay for everything, and destroy your vehicles . .😂😂 by the way, I am a driver and I’ve done 1000 rides so far so I know their game 😂😂 just ask yourself why paying you the difference at the end of the week instead of paying you on spot together with passenger and payment information.. they will never do that cause they wanna cover up the greediness😂😂😂😂
I got 96% last week! According to them 😂
Who here believes this? 😂
Exactly we have fees to our insurance and taxes then our profit now see if we made 70%
Uber and Lyft should only see 20% of the fare none of this minus fees 💩 and full-time drivers should see 85+% of the fare.
I agree that these app companies shouldn’t get more than 25% of the gross. We have expenditures and taxes to pay too to our business. Give the drivers the option to opt out of their ridiculous insurance and let us get our own.
..all they have to do is run an app, and they cant even do that right
I work 12 hours a day. Ever since Uber did another rate cut I’m now throwing the towel. Today I was online for 4.5 hours. I drove 156 miles today. I Made 96 dollars 😂. Minus 20 dollars of gas. You tell me if that is “fair”.
As per lyft numbers, They give 88% on average to drivers. Ofcoz this 88% is after taxes and govt mandated insurance.
So, if you pax pays $100, say, $15 goes in taxes, insurance takes $20, left over is $65. Out of this $65, they are saying they give 88% to drivers.
I spoke to a friend working at Lyft and insurance companies are literally robbing everyone.
Is it fair? Absolutely not. I suggest you accept better rides.
$10,000 cost of insurance per year breaks down as follows:
1) per week cost: 10000÷52 = $192
2) per day cost: 192÷7 = $28
3) per hour (10 hours max driving per day): $2.80
And Uber and Lyft charge you as much as $30 per hour. And that's the rub.
If you’re a driver and think these people are here telling you the truth, you gotta think again… money is power nowadays . They will never give you 70% ever. They will say anything to cover up and keep drivers on the road and they’re here to convince drivers because they heard about the strike coming on Valentine Day… drivers need to wake up you sleep they take advantage of you all day long 😂😂 they do that because they have so many drivers who don’t know their game and pick up all the chip fair. And are okay to be treated poorly . what you can do as a driver just pick only a ride that pays you enough at the moment don’t rely , on bonuses or sages that’s trap they know how to play you and control you, so you can keep driving destroying your vehicle getting emotional exhaustion and they still get 70%% which you should get the 70% and you’re the one who do all the work Pay for everything, and destroy your vehicles . .😂😂 by the way, I am a driver and I’ve done 1000 rides so far so I know their game 😂😂 just ask yourself why paying you the difference at the end of the week instead of paying you on spot together with passenger and payment information.. they will never do that cause they wanna cover up the greediness😂😂😂😂
So true so true so true!!!
They are coming up big time and they are doing weird manipulation on rides
I pay 340$ a month for car incurance
@@DailyInvestmentChannel This is commercial insurance for livery purposes.
Does rideshare Insurance also have surge pricing????????
The other day I picked up a passenger from the airport, I drove him 35 miles for one hour. He said he paid $100 and I got $38 on Lyft.
If they’re going to guarantee 70% after $25 in fees +$9, I would have gotten $46.90 - $38 = $8.90 more for a $100 ride.
Start asking passengers what they are paying and write it down. Go as far as asking for a screen shot
@@bobbybigsbee3075i always ask and it’s always triple what i get paid. hopefully this changes things
If you’re a driver and think these people are here telling you the truth, you gotta think again… money is power nowadays . They will never give you 70% ever. They will say anything to cover up and keep drivers on the road and they’re here to convince drivers because they heard about the strike coming on Valentine Day… drivers need to wake up you sleep they take advantage of you all day long 😂😂 they do that because they have so many drivers who don’t know their game and pick up all the chip fair. And are okay to be treated poorly . what you can do as a driver just pick only a ride that pays you enough at the moment don’t rely , on bonuses or sages that’s trap they know how to play you and control you, so you can keep driving destroying your vehicle getting emotional exhaustion and they still get 70%% which you should get the 70% and you’re the one who do all the work Pay for everything, and destroy your vehicles . .😂😂 by the way, I am a driver and I’ve done 1000 rides so far so I know their game 😂😂 just ask yourself why paying you the difference at the end of the week instead of paying you on spot together with passenger and payment information.. they will never do that cause they wanna cover up the greediness😂😂😂😂 also ask yourself where do they get those bonuses and sages money just a stupid game they play😂😂😂😂😂😂
@josephatmasunga6939 so you aren't a career driver or done a full year? Come back with your gross vs net pay for the year ifnyou plan on being full time. I am looking for full time drivers.
Me personally, driving for 8 years. I’ve watched it go from 20%-80% to 40%-60% to 50%-50% & then to $1.75/mi & then $1.50, $1.25, $1.00 & now $0.74/mi (in my market). (I still have amenities because it generates more tips, like phone chargers & bottled waters & hard candies, snacks like cheap granola bars.)
Until drivers make DOLLARS per mile instead of CENTS per mile the take rate will always be an issue.
Lol he's a "driver himself"😂 and got deactivated lol he's so full of it. He doesn't drive and he for sure didn't get deactivated he just needed a story to tell.
@@DaShiznet this guy is pretty good in talking. same as politicians.
He explained why he was deactivated,@@DaShiznet: He's registered to drive in California. He went to Washington.
Really, it's more of a "You're not allowed to drive here" rather than deactivation.
True,he never got activated at all in a different state (Washington ). When you try to drive in a different state,the app tells you “you are not authorized to drive “. David risher a smooth talker
Fo reals
Here's a thought, what insurance provider does lyft use. For example if their insurance company is state farm. Why not just give the driver the opportunity to get rideshare insurance through the same insurance company and now the driver gets that 24% instead of us being charged 24% and also having to pay for insurance on our own aswell.
That’s what I say too. David knows this would make sense but he really doesn’t are about drivers. He is trying to fool those who do not understand how the process works.
Exactly
Best question ever
@@NuelsangHeavensNo,.clueless question. By law, the c9mpany has to hold the commercial insurence. Lyft is totally ok with that and probably even pushed for these laws with Uber. Why you ask? More head room for accounting to fudge numbers.
Cause they need us to over pay fees so they can cover themselves not us drivers
"70% after fees," that is complete BS. Smoke and mirrors..
Nobody cares about engaged time. We log in and that’s our work day. Get rid of bad drivers and increase rates. There is no way a $4-6 ride is profitable if it takes longer than 10 minutes.
This is probably the safest way for Lyft to dodge a nationwide Seattle-like pay structure. Seems like some “let’s give them this to pacify them or else they just may push for a Seattle pay structure.”
Pay will be a bit more consistent but this should not be the end goal, for drivers that is!
Been driving for 9 months and my average hourly is about $14. I’ve had it peak at around $26/hour but that’s very rare. I’ve had times where I earn as little as $6/hour.
What state are you working out of?
Sounds about right.
That’s exactly what my experience was like. I tried it during rainy weather. I do mobile detailing and wanted to do something during downtime. My first day was around $25 hr. After a couple weeks I started averaging $12-$14 hr after experiencing some below $10 hr, I said no thanks I’d rather just stay home. In Southern California that’s below minimum wage.
Exactly. That's why he emphasized the word "average".
Some places will earn more than others. One can imagine in New York City and Los Angeles, earnings per hour are MUCH higher than some town in Iowa.
It's only about $15hr in Chicago after gas!
I have a hard time squaring the following, Lyft charges the rider a booking fee and charges the driver a service fee. If so, there’s no way the sum of those two numbers only represents 9%.
Where is the next shut down protest
February 14th
The best way to solve this issue is go to you’re state representative and make them pass a bill. They get money for lobbying passing laws.
They bought the lege here in Taxless..TDLR is a joke
While I don't agree with your second sentence, YES, speaking with government representatives makes changes (for better or worse).
Look at New York City. Their drivers earn high amounts, but passengers pay through the roof, too. And, there are so many drivers, those "working" don't get a lot of rides.
I already looked until the 12th minute. And when I look at Sergio say that Lyft has great progress in transparency. I confess, I was excited. I live in the Chicago area, and that summary that the CEO is giving has already been sent to me, and unfortunately it does not say step by step what the passenger pays for each trip. It only gives you the summary of the week in conjunction with what the passenger supposedly paid. And I returned to my same situation the payment at the end of the day and by the hour and per week. It is not enough for a good income given the enormous expenses of working on a Gig. It is assumed that if you have a car to work, the car has to earn the same money as the driver. If not, how is it a business? That CEO is only trying to brainwash the driver and at the end of the day it is the same situation as always the very low payments and they are millionaires.
If you’re a driver and think these people are here telling you the truth, you gotta think again… money is power nowadays . They will never give you 70% ever. They will say anything to cover up and keep drivers on the road and they’re here to convince drivers because they heard about the strike coming on Valentine Day… drivers need to wake up you sleep they take advantage of you all day long 😂😂 what you can do as a driver just pick only a ride that pays you enough at the moment don’t lie on bonuses or sages those are tricky. That’s how they gonna take advantage of you.😂😂 by the way, I am a driver and I’ve done 1000 rides so far so I know their game 😂😂 just ask yourself why paying you the difference at the end of the week instead of paying you on spot together with the information about the ride and payment at the moment you have the ride with you… they will never do that cause they wanna cover up their greediness 😂😂
@@joseph19888 that’s true. I agree with you 100%. I have ben as a driver 3 years. And always is the same ⚡️
Very true, insightful
I did ride share for nearly 8yrs and the decline is real. I strongly suggest everyone find a trade and use it
Yes! A wonderful, well thought out, educated experienced statement.
Robert can also attest when he started driving there were many drivers complaining about the earnings then, as well.
I have comercial insurance why would they double charge us I get billed for airport fees again double charge
If they are not showing the completed total fare paid by the rider, and listing their deduction right after ride is completed, they are not being transparent.
If we calculate by $1
45 cents goes to fees
And left with 55 cents
From that 55 cents 70% goes to drive and 30 lyft
I was rear ended on a Lyft ride with passengers onboard. Lyft hired two of the best attorneys in Texas to fight me. Unfortunately for them I had a better attorney than Lyft
How much you get?
I would advise drivers to use Uber, Lyft will not have your back if something happens. Just my opinion.
Did an ambulance take you to the hospital after the accident? Where you injured?
@@PittsensX I have one more pending lawsuit from being rear ended by a drunk driver while doing Uber. So I can’t say much at this time. I do have a legal team that would make OJ Simpson jealous.
@@PittsensX ambulance bill was almost $1K
I firmly believe there should be a market based operational/fuel surcharge fee based on the dynamics of each trip added to the transaction of each trip.
If Lyft is subtracting 0.24 per dollar for their expenses, shouldn’t drivers have the same benefit?
With all due respect the average cost of a new /newer vehicles and the cost to maintain them is as high as it has ever been. Providing a safe and reliable and comfortable vehicle isn’t cheap.
I know first hand that $50-60k SUVs don’t grow on trees….. Fuel in every market varies. I pay less per gallon in Louisiana than say California.
EVs aren’t efficient or as effective in every market. I experimented with a Tesla previously and it didn’t work well for the trip dynamics in my areas of operation. Trips are longer distances here due to the makeup of the area. This leads to the increasing need of charging which causes delays and extended wait times to recharge at times.
While the infrastructure for EVs continues to improve over time, I can still pump 23 gallons of gas faster than recharging an EV.
I would love to drive for Lyft more. I really wish my 2022 Toyota 4Runner qualified for Extra Comfort on your platform, Mr. David Risher. It’s confusing at best, that a Corolla does, yet a fairly large SUV doesn’t.
Mr. Risher, the maps need help in New Orleans for Mardi Gras street closures and flooding. I’m being mild describing the whole situation as a mess. It doesn’t help many patrons are heavily intoxicated and perhaps disoriented.
I greatly appreciate your efforts and your initiative in improving the driving experience for us all. I genuinely hope and believe Lyft could become the premier service and platform for drivers and riders alike.
Thank you again for the interview and your efforts. We greatly appreciate and value you taking the time to come on the channel to speak to drivers.
Never stop improving!!!! 😍
Corolla qualifies?
My Masada 6 2017 grand touring is not somehow qualified either which almost everyone think it’s a luxury car
They're not charging enough per ride there trying to keep it as cheap as possible to sale the rides in bulk like retail so it doesn't hurt them but that's not reality the prices need to go up and given to the driver there trying nickel and dime and support pax with cheap economy rides which is not feasible cause the driver can't do bulk quantity
@@jacktripper8726 from what I reviewed on their documents online, yes….
And long trips should cost more per mile, not less, since the driver might have to drive back empty.
Car Insurance cost (deduction) should not be based on how much you are charging the passenger, its ridiculous, FRAUD ALERT!!!!
I don’t believe how insurance costs per ride is calculated was discussed in this interview? That calculation would certainly help with the so called transparency.
Let me take my expenses first and then we split, how about that?!
The problem is when lift and Uber both say that they're paying drivers in the 30s and and then lift says that they realize that the driver's. Have other. Things? That they. Have to? Pay. Before? And that they're making somewhere in the 20s low tinty's. They don't take into consideration that they're still taking 30% of that low 20s as fees from them. So really the driver's are really only making about $13? An hour 13. 215 after lifts fees and our expenses I know for a fact. That this year between Uber and lift I made $73000 Gross and 30000 fees was deducted from that 73000. Which left me a adjusted gross income of 43000 minus. My expenses which is really going to put me at about $20000 for a year driving full-time. This is got to change. Those are real numbers guys. I'm from Oklahoma City market.
Unfortunately, it sounds like you now know what you need to do. As Albert Einstein said, the definition of insanity is doing the same thing over and over again. But expecting different results. It just sounds like it is time for you to get a real job and to stop letting these rideshare. Companies screw you over year after year after year
"Sometimes algorithms disagree with each other." 😅😂 Man that's a level of bs right out of a 90s movie.
Central Florida here.lift is pretty much dead on the water in this market,yet they want to pay the drivers less percentage from what Uber pays,and on top of that charge the passenger more than Uber.
Yep, Central Florida driver as well, you can look at the MCO and Disney staging screens and see Lyft has only a fraction of the drivers available in comparison with Uber. For a lot of reasons including most of their work seems to be in sketchy parts of town with ungrateful riders.
Gainesville FL I've had passengers pay up to $12 only to receive $3.30 this lyft CEO is full of horse shit.... funny thing is he wants to act 🎬 like he is the common driver and like he gives a shit when just by looking at him you can tell he doesn't ..... also this Harry guy is not being more aggressive with the interview which is why the conversation seems to go smoothly without any discomfort on David risher ...... this son of a bitch need to feel the pressure we as drivers feel everyday not knowing if we are even going to bring home enough to pay the bills.... pain... they need to feel the pain all this intellectual back and forth bullshit is not going to do anything but give them more time to screw us over per trip.....
Split should be 90% driver 10% Lyft. Full of bullshit with the insurance excuse. I have my own rideshare insurance that has gone up 20%. Sounds like alot of rewording nonsense 🤦🏿♂️🤷🏿♂️
Don't margin caps disincentivize cost control? The higher the cost, the higher the fare, the more dollars a company can keep on a per transaction basis. Something seems off here.
Yup! In this hypothetical scenario by David, if insurance is charging us more, raise the fares
So according to their math, they keep 9% and insurance gets 24%. So that's 33% total. Yet some rides are almost a true 50% if it's longer than 10 miles.
They try and manipulate the differences on different rides. Just charge an amount and give the driver a flat 70% of the fare.
Just like the other night when I picked up someone downtown to go 2 miles. Normal ride would've been the minimum on Uber which is $4.10 because it was busy it probably would've went to $6 because there still was no surge so there weren't tons of rides going out... But Uber was charging $25 for this ride. They would've been keeping around 75%.
Lyft keeps sending me pick up trips that 15-21 minutes away from where I’m currently at then if I cancel or don’t accept I get notification that I’m at risk !
I've been getting those warnings for years, but so far no deactivation. Just warnings, which I ignore. They're a bunch of cry babies. If I decline a bunch of crappy requests, they say Bad Customer Experience. What about bad driver experience? Screw Lyft. Ignore the warnings.
Why is insurance charged per ride its overcharged
Add the insurance cost to the passengers fare instead of subtracting it from the driver! We have our own rideshare endorsements! And give us back our 70% of the fare after passenger pays as this covers the passengers ... NOT US!!!
if any driver is to receive benefits, good driver insurance incentive, higher pay and or better rides should be the ones who have been driving since BEFORE 2020, all these bandwagon people who lost their jobs and had downfalls who resorted to uber should NOT receive better pay, THERE NEEDS TO BE SENORITY JUST LIKE UPS AND OTHER CORPORATIONS
Realistically 70% is not enough. We should be making at least 75%. Also I don't agree with how much they're taking for commercial insurance on every single ride. To me they're profitable. When I had my taxi business I used to pay out only $300 a week. With Uber and Lyft their cut with whatever insurance is right now averaging about 50%. That means if I make $1,400 in a week they're taking $1,400 and whatever their insurance is is probably the majority of that 1400 which is more than I would have paid as a professional. This is my big issue! The question that really needs to be asked here to David Richer is when are you going to stop breaking our independent contractor rights because you guys are a middleman and we are independent contractors and you will not allow the drivers to dictate their fee. I want to see him deflect that question!
External fees... 24% of every dollar... Then Lyft is going to take 30% of the remainder... So that is 54% of what the customer pays we don't see. That means we are suppose to get 56% of what the customer pays. That beats the 40% I've been seeing. Not only do I talk about cost with my riders, I show them what I made off the ride.
Here we go again... David balls deep inside Harry.
STOP WITH THE BULLSHIT NORTH OF $30 CALL HIM OUT IT'S LUCKY IF IT'S $20 BEFORE EXPENSES AND IF THAT'S UP YOUR GAME IS THAT I'LL STAY WHERE I'M AT
Exactly. That's why he emphasized the word "average".
Some places will earn more than others. One can imagine in New York City and Los Angeles, earnings per hour are MUCH higher than some town in Iowa.
Did David really said that that be believe that drivers should make $20 per hour? That means all that Harry said to him went in one ears and went out the other instantly. David beat around the bush when Harry asked him questions that would benefit the driver. Harry was been diplomatic with his questions, that’s good.
McDonalds pays 22$/hr where I live.. I'd have to make at least $30/hr in my own vehicle just to keep up with the kids flippin burgers.
Yup. I can work at McD's for $20 per hour not driving my car or as a host t a restaurant - $30+ per hour for rideshare due to out-of-pocket expenses
David's a babbling idiot and a compulsive liar.
$24.00 insurance for $100 ride that's ridiculous, Lyft is probably getting a kick back from the insurance company. Drivers were getting probably 50 or 60% of the fair. Uber and Lyft are ripping off the drivers.
While I appreciate that Lyft is looking into a variety of ways to improve earnings, I would love to see the math that shows that drivers are, on average, making 86% of fees. By my estimations it’s closer to 40%! I have noticed a significant drop over the past year, and especially since September (Q4). I am on thé Dallas area and have been driving part-time since 2018.
Everything this person says sounds good but it is nothing but a bunch of lies because that is not the actuality of what we as drivers have or get or deal with and we are not supported when we complain about a problem we are told by bots that this is just the rule there's never an adjustment there's never a correction there's never anything fixed I even reported a correction that needed to be made on behalf of the customer and they wouldn't correct it so they are not willing to do anything that's in the benefit of the rider or of the driver it's all for the benefit of lyft I love driving and I love the flexibility I have for my family life but I do not like the cheating and the lying that goes on
I have to say with all honest truth, Harry nailed it on this one. Pretty much covered all the key issues we're actually facing these days. No doubt this is why I've been following Harry Campbell since the days where RSG was just a simple, but yet highly informative newsletter sent to your email address. I loved that last question at the very end of the interview:
How much do you think drivers should make?
David's response doesn't even get close to what's really happening out there in the real world. Smoke and mirrors, my fellow drivers. Smoke and mirrors, for sure.
Again, thank you for this excellent interview.
There's a reason Lyft isn't upfront with rider fares. Riders show me and I show them what I get.
I want to know how insurance companies charge for commercial insurance - per trip or per mile or a flat rate?
Those fees add up to a significant amount. Do drivers pay taxes on those fees and if so, why?
One last thing before I go, I got a ride request from Las Vegas Nevada to San Diego California which was around 350 mile and it paid $113 can you please respond to these rides?
Why don’t you ask him why they don’t pay a dollar a mile?? Ask why not have a minimum $5 fare .If your going to ask questions ask the right questions otherwise the interview is a waste of time
I just to work as a taxi driver I kept all the earnings upfront .. every Friday I payed 20% on what I made on the meter .. taxi got paid double or triple compared to these Lyft rides
Why not go back to Taxi driving?
First these rideshare muppets wrecked the taxicab industry. Then they went on to ruin rideshare.
Rideshare fares started off MUCH higher than where they are now. The muppets at Lyft started a price war, and after years of price cuts, now nobody's making any money. Lyft, with help from Uber, ruined rideshare.
@@long-time-first-time 😂😂😂 the company I work for went out of business .. you know why it went out of business?
I pay $335/mo for COMMERCIAL rideshare insurance on Progressive (the kind truck car towers have) albeit not with a $1Mil coverage - that would be too expensive for me. They take 25% for each ride for insurance, but I have rideshare insurance.
The commercial insurance thing sounds like its not the premiums but the lawsuits. Lyft or Uber should look at all of their drivers. And any driver with over 5000 rides and no tickets or accidents should be put into one group with lower premiums and paid more on fares. In my opinion if you make it through a year as a full time driver without accident or ticket you're conservative as a driver and know what you are doing.
New or younger drivers should be put into a different insurance bucket where they are getting paid less and insurance premiums should be higher. I think most accidents and problems are younger or newer drivers that don't know how to go about business, control emotions, and be responsible. I have broken down what Uber is essentially taking from me for insurance and its like 500.00 a month. I can get my own policy for less than that and maybe that is another option a rideshare company should consider. If you as a driver want to pay that premium and register yourself correctly then there should be a different pay structure for that.
Just introduce the rate card and base pick up fee no fuzzy math Lyft can charge whatever it wants to riders keep drivers out of their loop 80 cents per mile 22 cents per minute 2 or 3 dollars base pick up fee. Hold the riders card until the ride is complete.
Harry: "9% is too little", instead of challenging the persistent lie that Lyft only took 9%. Harry: "If you're a driver and you're on your own, and a ride takes you long to complete due to unforeseen circumstances, you should eat the cost." A driver on their own would charge per minute and per mile, not "eat the cost". Harry is in the wrong business. He should be a malicious lawyer for rideshare companies.
He's full of shit. Someone needs to step up and make this right. I have not been payed by lyft for the first time in 6 years. Its like I just signed up. They take nothing to heart. The interview is a pr move. They can't get away with this.
It's all propaganda. We're nothing but fodder. They couldn't care less about the drivers.
Only reason I drive for Lyft is the $150 ev bonus. I drive exactly 50 trips at 18 to 20 online hours per week and I make $350 to $400 including tips before $150 bonus. So my weekly earnings barely average $30 per hour.
$525/19 =27.63
Using midpoint of both pay and hours driven.
Costs less to charge an EV than gas up a car.
Less maintenance costs with EV
Debatable how many miles total you can get on an EV battery before it needs to be replaced.
Overall probably a smart move your part.
What about your car depreciation, electric, maintenence, tax, health insurance?
"Trust is built over time".... That's funny, I've been driving for Uber and Lyft for a year and a half and my trust in the companies has eroded steadily.... Zero trust as I've seen all their shady tactics
I don’t care how much the passenger is paying as long as I am happy with the upfront fair. If drivers learn to decline, poor trip offers, the algorithm will learn to not offer poor trips. Oversaturation is the real problem, not Lyft’s take rate.
Is UBER also taking average 9% per ride? Find the whole thing hard to believe
I'm hopeful about the idea of earning above $30 per hour before expenses, as was previously mentioned. Yet, my experiences recently don't quite align with that; just last night, after handling two rides of medium length followed by a short one, I made merely $18.75. It appears that I only near that $30 hourly mark during peak bonus periods, indicating that my earnings are below the national average driver. It might be a regional issue, as Uber once indicated that drivers in our area typically make $18-22 an hour. So, hitting that $30 per hour rate seems to be heavily influenced by the specific state, city, and market conditions. Meaning big cities are skewing the numbers as if that's representative.
Are you aware when it comes time for me to buy a new car no bank will give me a loan for a new car? Ive been driving for 7 years and went to get a new car and every dealer sent me packing. So now what?
Ok so I’m kind of lost.. I just did a ride paid me $7.86 plus $1.50 total of $9.36 and customer paid more than $22 .. is that a 70% ????
Based on their new system that was just explained, you should have made $11.71. They are liars.
Did he just say that one of his newest board members is an executive at one of the biggest insurance companies?? How is that Not conflict of interests!!??
Lyft new benefits got me back driving for Lyft but why am I making less on schedule and XL ride?
Chicago story. Somewhat related
Cicero a town just to the west of Chicago was well known for being a place where the "outfit" the "sydicate" ran things. Al Capone was known to hang out there
Anyways..
A friend of mine decided to open a tavern in Cicero and shortly after a man shows up offering to put in some pin ball and video games.
The man told my friend he would put in the games and split the money the games took in 50/50. Sounded fair so my friend agreed.
A few weeks go buy and one early Saturday morning the man is back to empty the coin boxes to divide up the proceeds
The coin boxes were dumped out on the bar and were divided 50/50 as promised as my tavern owner friend looked on.
Then the man takes his half the coins and puts them in his coin bag and divides the other half 50/50 again. He slides one half of that to my friends side of the bar and says there you go 50/50.
Wait wut? That is not.... my friend gets interrupted mid sentence is there a problem and he gets a side eye stare from the man. Ahhh no no problem..
The mob ran that business pin ball pool tables in bars etc..
At least David is taking the time and effort to show his work after 9 months.... Transparency is 💯. Think these insurance companies are the ones needed to be put in check. Thank you Harry and David for getting together and sharing this message with the drivers.
Lyft taking 9%/10% flat rate is great but the insurance cost 24$ per 100$ or 24%....... Smells fishy guys..... Bring that cost down and give it back to the drivers.
They need to factor the 70% on a per trip basis and adjust on the spot.
Guys, he makes $750,000 as an annual salary with a $3,500,000 signing bonus as Lyft CEO. He’s going to get around to paying drivers more. Just keep driving and stay patient; keep your acceptance rate at 100% !!
I just got paid $60 for driving from New Haven, CT to Bronx, NY. Distance is not the point. Two years ago, a trip to NYC was $90-$100. What was Lyft going to do if I broke down or got in an accident in the Bronx with $60? Send a preposterous response to my text after not comprehending it? wtf? That is sweat shop money and Lyft is taking a huge percentage from drivers.
To cut to the chase, drivers should make 70% of the ride. "extra fees" should be absorbed by the company, always. Plus people do not tip. Please do something about it, and take that into account. I'm making about 10 to 11 dollars an hour after all my expenses. This is in Los Angeles.
I have rideshare endorsement part of my insurance coverage. Basically, if my deductible is 100 and lyft charges 2500 for their deductible, which is ridiculous so my insurance pays me the difference. So it seems like I need their insurance as well.
Basically only work when there are incentives otherwise you’re not seeing a profit after expenses.
Most scheduled Lyft rides don’t pay much in my market. Santa Barbara CA…
so my offers of .58 per mile in dallas is ok as long as you fake the fees to make me @ 70%??? We cant live off .58, .68, .88, .98 per mile. how is that difficult to understand? if insurance is too high, use the background checks to eliminate/drop the bad drivers that run MY COSTS UP!!! Stop rewarding new drivers with outragous bonus's, but you sent me ride challenges for 160 rides pays $80....really????? .50 per ride?? I dont get outta bed and walk to the kitchen for .50.
Why shouldn't riders have to pay more when rides take longer?
Haven't received any emails or notifications on my Lyft app for this " increase" in pay. 5 years, 8 months with Lyft...??? Wheres my email? Turned on the app and still getting 3.00 for 12 minutes or 18.00 for 1 hour??? This is in the Tampa Bay area. Lyft comfort also???? 😮
"I'm glad you asked that question". He says this in all his interviews almost every time someone asks him a question. That's him saying he doesn't like the question.
You don't care! You never cared about anyone else's money but you and yours. I was So upset when I seen my 1099k the gross I earned compared to the platform fees that was taken from me. 9 months I made $14,000 and lyft took out over $6,000 in lyft expenses, lyfts insurance (which I don't see) and the lyft platform fees? ARE YOU KIDDING ME! lyfts average is .62cents a mile which is crazy cause FED tax mileage is Deducted at.65 a mile. Just deducting the mileage it shows I'm negative working for lyft. I had no idea you took so much money from our fares. You literally took a little less then half I EARNED!! Uber tax fees was a 6th of what lyfts was.
Screw David I got deactivated on Lyft during Covid for an absolutely unjust deactivation. 4.99 on Uber driving since 2013. Ridiculous companies. They all talk great game and just kick the ball down the road some more.
I was cut from Uber too, despite being a rockstar driver/dj. (We) need to file a Demand Letter to outline issue, and as the apps are now better supporting dash cams, you can pledge to use one (we all should!) for re-activation.
Now get the Instacart CEO on so they tell some lies too..
I'm looking at multiple orders that pay $4-$6, for 40+ items and 5+miles of driving one way..
That wont even cover the vehicle expense, much less the hour or so you're going to spend, shopping, standing in deli lines, checkout lines, walking in and out of the store, bagging, finding parking.. so even if that order was already packed and ready to go Walmart Spark style.. it STILL wouldn't be worth it.
I have multiple screen shots of orders that took 1hr 30+min (according to IC time, so closer to two hours of 'real' time), and the base pay was in the 6$ range.., so less than $4/hr, and I shop these orders in less than half of their 'estimated time', so its not like I'm shopping for myself, I'm moving fast.. and Mc'D's pays $22/hr where I live (lowest is $19/hr), cause the avg rent is over 1,900$ a month.. so how can they justify a 4-6$/hr base pay here, or anywhere for that matter?
Sounds like you know what you need to do. Stop doing gig work full-time to get a job at McD's or Walmart and make more money in your area.
Can you say Enron accounting just another ploy to cover that four hour rides?
What about those trips, for instance, a trip from the Philly suburbs to JFK pays about $110. Which is ridiculous BTW. Round trip in tolls is about $90. The driver has to pay about $40 in tolls to get home because Lyft won't allow us to pick up in NY or NJ. And the cost of fuel for that round trip is about $25 for a typical ICE car. Driver is now only making $45 for a 6 hour day.
Remove the algorithm and bring back the rate card 80 cents per mile and 22 cents a minute 2 or 3 dollars pick up fee be fair to everyone.
My take on this interview, the worst is coming and the 70% after FEE is an absolute BS scam!
It only ever gets worse. It's the only business that never, ever raises prices, but only keeps slashing them so that we're all earning next to nothing.
Listening to your TH-cam for the 1st time. I beleive the Las Vegas market needs to stand alone! The average ride in this small city is $7. I need to drive for 10 ,plus hours to make 200
Most trips to my area are still only a dollar per mile
2024 Driver need to get minimum $1.50 Per mile.the cost of living is so high .we are not a charity.we need to support our family.
Simple math: $1 (gross fare) - $0.24 (Lyft expenses) = $0.76 left. $0.74 - 30% (Lyft profit) = $0.52 (gross for drivers).
The question remains if it makes sense for you to drive at $0.52 per $1. Know your costs and make an informed decision.
Be transparent CEO and give drivers 75% of the fare without throwing in fees , this and that which ends up max at 40% for the driver , nothing has changed drivers
I hope that that is actually going to happen in Oklahoma City market. I really do because I was on The Verge of saying before this. Came out that I was going to stop doing rideshare because I did not take in enough money this last year. To ride? First. A family of 6 and I do this full-time.
When was this supposed to start? Because I can prove with pictures and screenshots that I am still only making about 35℅
Lyft driver here and this does not seem reasonable we have our own fees to pay car maintenance insurance car wash gas etc etc how are more fees fair ? 🤦♀️🤦♀️🤦♀️🤦♀️🤦♀️
That’s why the CEO has a big mansion and we don’t. The other day They send me a 19 mile job for eight dollars horrible. They don’t under stand that wherever I go I have to come back so 19 turns into 36
The longer the trip, the more it should cost per mile. They have it backwards because they're idiots.
I hope David reads all the comments…..
Average 24% insurance costs seems high. Especially for insurance with such a large deductible ($2500)
Wouldn’t it make sense to offer contract drivers the option to provide their own commercial insurance. In the long run it may be financially beneficial to the driver, encouraging drivers to spend more time driving on the platform.
Just a thought.
How much does a corporate worker for Lyft make an hour? If I were to be a stock holder for Lyft what are you doing to take away some of Uber’s share of the market? Plus if you’re not trying to gain more of the market why or why not? How about a mystery Rider in different markets and some under cover Boss stuff!
I have been driving for 7 years, used to make 80 percent has been 40 to 50 percent now as they attempt to get 250 million back since California vote.
Another thought, the flexibility is exactly why a firm rate card that needs to be around the Cape Cod, Seattle, NYC neighbourhood is necessary for everyone. Drivers make way more money, Uber and Lyft make way more money.
@Therideshareguy
Can we get David or Lyft answer the following which is AT LEST just as important for them as for the drivers OR MORE, since Uber is taking the advantage taking both of their customers and rematching them?
[Provide a description of your issue] Hello there. I’ve been looking and researching why for a NYC (TLC licensed) driver Lyft is not applying the same rules I am reading under the instructions and guides on its website and more specifically under “NY State” which mentions the following:
“Please note: If you are a driver whose home region is New York City, and a passenger ride has brought you into New Jersey, your next match should be a ride request heading back to New York City.”
Question is why when passenger rides take a NYC TLC licensed driver ( whom meets all NY state requirements plus additionally the extra NYC TLC licensing requirements ) anywhere in NY state, isn’t that the same practice listed above as rematching with rides back to NYC applies and instead drivers are taken offline?
Additionally and as a follow up question, are there any other requirements and documentation necessary so that NYC TLC drivers can also pickup any other regions of NY state ?
P.s. I Don’t wanna switch regions but just rematch to NYC !
He just came to advertise his new strategy/plan to fuck over all drivers again and thro drivers in the dark until all drivers will realise after year(s) then Next year again with new drama with new change.
WE HEARD YOU AND MAKING CHANGES. Old ideas drivers understood. It means they got now new idea to cheat with drivers. Until drivers will fig out that then next year they will come agin with same dialogue. We heard you, now we going to make changes again for better😂. More professional people it means they just became more professional liars. 😂
Those quest bonuses you offer are impossible to make, id have to drive 20 hours a day to get that bonus/wage replacement!