Uber became "profitable" because it includes its stockholdings in other companies as income. Also, the company had to slash everything down to the bone to reach "profitability" which means you have to wonder where their future growth will come from to justify their market cap.
I've compared Uber vs Lyft prices in both Dallas and Austin and Uber is always more expensive. Lyft is cheaper so I can tip well, Uber's prices would prevent me from tipping.
@@tmacman0418 Why is tipping common in hospitality and rides but not in any other service industry? People don’t tip lawyers, vets, chiropractors or plumbers?
@@Entertainment- I think it's because hospitality and ride-sharing workers are underpaid compered to those other industries. I'm not tipping a lawyer that makes 6 figures but I'll tip if I feel the service I'm getting outpaces the wages paid to the worker.
In my country, the drivers first get customers through UBER, then communicate with the customers. They agree to cancel the trips and the drivers pick up the customers so that they can avoid uber charges😂😂
all the tech startup becoming more like the bussiness they tried to disrupt uber becoming more like traditional taxi and airbnb becoming more like a traditional hotel just to name a few.
Microsoft got spanked so hard back in the day for anti competitive pricing and monopolistic behavior… with Uber, we are all distracted by driver wage and employee classification that we have completely lost track of the bigger issue.
“Ubers revenue has grown every year since it started publishing it’s financial information” He says as the graph shows a huge revenue reduction in 2020
Glad you enjoyed it! We use a combination of Adobe Photoshop & Illustrator to create/edit the graphics. The animation is done with Adobe After Effects.
I think they will fail, and hope they will fail. The fares are too high, and the pay is too low. And the costs are absurdly high for something that really only needs a few devs to keep bugs out, some advertising, and some lawyers to defend their turf. But stable, simple business doesn't generate the exponential growth required by today's capitalism.
I don't think it will fail (at least not in the near future). But it definitely highlights a problem with almost all gig economy startups. Specifically, how do you create a system where all three parties involved benefit (the company, the people offering the service, and the customer). Food delivery startups are also facing the same problem. So it will be interesting to see where these companies go.
they are successfully achieve monopoly, no one dare to compete with them anymore as their business model is already established, if someone dare to, they better have giant capital. now is the time to suck as much money as you can possibly can from worker and customers.
no offense but your understanding of the scope of development needs around app dev, logistics, and data science that operates uber is naive. i’m sure some percentage of employees are “dead weight” but it is no where near the percentage you imagine. i hope uber succeeds because i don’t drive a car personally and on-demand ride apps are a lifesaver.
The important thing is customers are being brutally robbed and yet still use the service. Drivers are being brutally robbed and are still working because they've become dependent on the earnings. Systematically the only one winning here is the house, Uber, who takes the largest amount of the fares without doing a single thing but running the operating technology. It's like a pirate being boastful about looting and pillaging ships at sea.
In UK, modern salvery. The drivers working for them are working for them paying from pocket. For 20 miles distance, they pay £12 which is ridiculous. They pocket money from drivers and riders as well. Drivers have to pay extortion amount to taxi insurance, plating, car maintenance, car rent etc.
@@MBA-Maven Your videos are amazing I dont think theres any improvements to be made - videos feel perfect already 😅 My brain can't comprehend watching such high quality videos and then seeing such a low subscriber count Based on your videos, I'd expect you to have at least a million subscribers Keep up the great work, I really hope your channel gets the growth that it deserves
Maybe you have not works as a driver or get a ride with Uber how you will be amazed by seeing the number in between is not only about the profit is about how they are making that profit long story short been driving for 4 year looking better way than driving for uber
A bit jumping the gun no? Oh they’ve been losing money for a decade, but they’ve made money for the first time this quarter, let them make money for at least a full year before jumping to conclusions shall we?
I hope Uber will fail! In UK it is obscene and became more pricey then BlackCabs. Whos in UK knows what im talking about... its ridiculous! Politicians must have got $$$ from Uber to allow this
5% gross profit is slightly better than a grocery store. Razor-thin and one strong breeze away from a loss.
Uber became "profitable" because it includes its stockholdings in other companies as income. Also, the company had to slash everything down to the bone to reach "profitability" which means you have to wonder where their future growth will come from to justify their market cap.
Dividend and investment revaluation?
Uber takes 82% of the fare. My normal take is now 18% in Texas.
I've compared Uber vs Lyft prices in both Dallas and Austin and Uber is always more expensive. Lyft is cheaper so I can tip well, Uber's prices would prevent me from tipping.
@@tmacman0418 Why is tipping common in hospitality and rides but not in any other service industry? People don’t tip lawyers, vets, chiropractors or plumbers?
@@Entertainment- I think it's because hospitality and ride-sharing workers are underpaid compered to those other industries. I'm not tipping a lawyer that makes 6 figures but I'll tip if I feel the service I'm getting outpaces the wages paid to the worker.
No they dont take 82%, share a single payment statement above 70%, double dare
In my country, the drivers first get customers through UBER, then communicate with the customers. They agree to cancel the trips and the drivers pick up the customers so that they can avoid uber charges😂😂
What country are you from? 🤣🤣🤣
I'm guessing the Dominican Republic, that's how it works there. @@luxonbanda6649
@@luxonbanda6649 Bangladesh
How’s this channel has so little viewers? Great content!
I appreciate that! Glad you are enjoyed the videos.
These types of channels are a dim a dozen. There are heaps of them.
all the tech startup becoming more like the bussiness they tried to disrupt uber becoming more like traditional taxi and airbnb becoming more like a traditional hotel just to name a few.
just goes to show how tech bros “reinvent” things by making them seem shiny and new
Could you elaborate ?
Microsoft got spanked so hard back in the day for anti competitive pricing and monopolistic behavior… with Uber, we are all distracted by driver wage and employee classification that we have completely lost track of the bigger issue.
All the way from South Africa 🇿🇦, keep it up with the amazing videos
Woah! This channel is amazing!
Glad you think so! Thanks for the support.
“Ubers revenue has grown every year since it started publishing it’s financial information”
He says as the graph shows a huge revenue reduction in 2020
pandemic. can be considered an anomaly and can be ignored
Hi. Your channel is amazing. Binge watching your videos
Glad you like them!
The video is very well-made What program did use to create the visuals
Glad you enjoyed it! We use a combination of Adobe Photoshop & Illustrator to create/edit the graphics. The animation is done with Adobe After Effects.
I think they will fail, and hope they will fail. The fares are too high, and the pay is too low. And the costs are absurdly high for something that really only needs a few devs to keep bugs out, some advertising, and some lawyers to defend their turf. But stable, simple business doesn't generate the exponential growth required by today's capitalism.
you are a very bitter person , i hope you heal
I don't think it will fail (at least not in the near future). But it definitely highlights a problem with almost all gig economy startups. Specifically, how do you create a system where all three parties involved benefit (the company, the people offering the service, and the customer). Food delivery startups are also facing the same problem. So it will be interesting to see where these companies go.
i agree with you! regulators def got $$$ and sponsorhips from Uber to screw everyone up...
they are successfully achieve monopoly, no one dare to compete with them anymore as their business model is already established, if someone dare to, they better have giant capital. now is the time to suck as much money as you can possibly can from worker and customers.
no offense but your understanding of the scope of development needs around app dev, logistics, and data science that operates uber is naive. i’m sure some percentage of employees are “dead weight” but it is no where near the percentage you imagine. i hope uber succeeds because i don’t drive a car personally and on-demand ride apps are a lifesaver.
The important thing is customers are being brutally robbed and yet still use the service. Drivers are being brutally robbed and are still working because they've become dependent on the earnings. Systematically the only one winning here is the house, Uber, who takes the largest amount of the fares without doing a single thing but running the operating technology. It's like a pirate being boastful about looting and pillaging ships at sea.
The xrazy part is that they are barely profitable even after all of that
In UK, modern salvery. The drivers working for them are working for them paying from pocket. For 20 miles distance, they pay £12 which is ridiculous. They pocket money from drivers and riders as well. Drivers have to pay extortion amount to taxi insurance, plating, car maintenance, car rent etc.
Get a different job then.
lol ,,,,,hahahahaa, kinda funny
Can you do a videos on Uber last earning call, it show a different story
I had to sue Uber for them to actually pay out my guaranteed earnings
Oh I wondered why I stopped using it!
This company paid me $25 on an $85 ride. I’m starting my own company and they will go out of business in 5 years.
I trust your vision, are you hiring? How can I send you my CV?
In London taxi rides are cheaper and no waiting tome til a driver commits.
TH-cam channel is suspiciously good
I wonder if it's a big youtuber starting a new channel in secret 🤔
Haha, nope. Just a small channel trying to learn and constantly improve my content. Glad you are enjoying the videos.
@@MBA-Maven Your videos are amazing
I dont think theres any improvements to be made - videos feel perfect already 😅
My brain can't comprehend watching such high quality videos and then seeing such a low subscriber count
Based on your videos, I'd expect you to have at least a million subscribers
Keep up the great work, I really hope your channel gets the growth that it deserves
@@Tggfredcsawsdfgbhhhhu thank you so much! Will get there one day :)
Maybe you have not works as a driver or get a ride with Uber how you will be amazed by seeing the number in between is not only about the profit is about how they are making that profit long story short been driving for 4 year looking better way than driving for uber
So basically youre saying the books are cooked?
Thats why I use private alternative companies which are cheaper 😅
I've seen drivers getting paid $5 for 5 miles 💀
A bit jumping the gun no? Oh they’ve been losing money for a decade, but they’ve made money for the first time this quarter, let them make money for at least a full year before jumping to conclusions shall we?
Uber overpay CEO
Enshittified transportation.
nice
Thanks for your support!
Cheap trips are funded by shareholders while Uber is burning money for god knows what. It's a broken company that will never recoup initial losses.
Uber needs to stop jacking up prices and start jacking off…
prices.
I hope Uber will fail! In UK it is obscene and became more pricey then BlackCabs. Whos in UK knows what im talking about... its ridiculous! Politicians must have got $$$ from Uber to allow this
I mean Uber also does a lot, almost all of their patents are open source