Lyft/Uber are a bad deal for its drivers

[J0E]

....because they end up footing the bill for the car expenses, gas, repairs plus the insurance & whatever fees they need to pay. And they're expected to buy free snacks & beverages for the customer. Plus many uber drivers may find themselves driving 3 or 4 customers at a time, with the added weight must add wear & tear on the vehicle. In addition, they often don't get paid for all those 'freeloaders'

So after Lyft/Uber take their cut, the expenses are paid, there's virtually nothing left over for the driver. And a vehicle whose life is shortened considerably by all this heavy city driving.

The drivers they hire will be working for minimal wages while they incur maximum expenses.

Anyways thats whats comin' soon to a street near us in Vancouver. Ride sharing. Uber/Lyft. Hope the drivers who'll be working for them get what they wished for!

Driving for these billion dollar companies is like a subsidy for them.

[Blazor]

I've heard the same, that Uber takes a hefty cut.

Prolly not much different than delivering pizzas, with the exception that the pizzas smell better lol. (except anchovie)

Pizza companies got greedy too. They started charging a delivery fee, but pocket the majority. So the customer thinks the driver gets all that and stiffs the driver.

I drove a cab for a year, and that company is about as bad too. The company leases you the cab, you pay the gas, and you have to work enough to pay for those before any profit is made. Some days I worked for free.

[Mad Serb]

At least uber and lyft do not have extortion-level operating permits.
Free market, you don't like a company - do not join

[Scooter]

I know a couple people who do Uber as a full time job. They have reliable and fuel efficient vehicles. I also know a couple or so who do it as a part time job because that's all they need. Two retirees come to mind. They do it for something to do to get out of the house and they enjoy it. They're making money. They pick their own times.

One guy told me he cleared $50,000 about this time of year. That was a couple years ago. Another guy said that if you can't make money driving for both Uber and Lyft, you're doing something wrong.

As far as I know, these people are still out there. I just don't see them anymore as customers at my old store.

[J0E]

I know a couple people who do Uber as a full time job. They have reliable and fuel efficient vehicles. I also know a couple or so who do it as a part time job because that's all they need. Two retirees come to mind. They do it for something to do to get out of the house and they enjoy it. They're making money. They pick their own times.

One guy told me he cleared $50,000 about this time of year. That was a couple years ago. Another guy said that if you can't make money driving for both Uber and Lyft, you're doing something wrong.

As far as I know, these people are still out there. I just don't see them anymore as customers at my old store.

Maybe.

But even from the most positive testimonials on YT, those drivers say that it is not likely a person will make as much as you've indicated.



That being said, the base cost of a decent car to use for this purpose is no less than $25,000 to $30,000 USED. The initial capital investment is high. A Prius car like you've mentioned isn't cheap. And that's just the car for starters. Gas, insurance, repairs not included. Really top drivers I know who do it for a living are always paying money on those things. The bills never end. They are like a big sinkhole.

So if a person earns $50,000 but ends up spending $50,000 for the car including expenses, their net profit is 0. And they will have had to work all those hours just to break even in the first year. and the cycle will repeat itself a couple of years later when the vehicle needs replacement. So the scenario from uber or lyft is misleading. They are merely offloading the costs to the driver where in the past, a company hiring them as an employee would have paid for it.

The beauty of uber from their standpoint is that the driver will end up subsidizing them & not the other way around.

If a person is interested in a business venture that requires that much money, there are less costly ideas imho. And that won't require so much maintenance or bleed the pocketbook like a car does.