Uber Technologies Inc.

In the situation where there are few drivers, the job allocation is fairly straightforward. However, if there are many drivers in the vicinity, i think the software algorithm will pick the driver that presents the lowest cost to Uber.

20% of the fare before cost will go back to Uber. I do not think it is low.

A taxi driver daily 12hr revenue is around $200.
Cost of rental = $65
Diesel = $35?
income per day ~ $100

For a Uber driver to hit $200 for 12 hours, he needs probably 12-15 trips which is around 1 trip per hour.
Cost of car rental = $30
Uber cost = $40
Petrol = $50?
The income per day is around $80?

The best outcome for taxi driver is to own a taxi. Can LTA bring back yellow top cab?

Strangely, if Uber drivers earn less than taxi drivers, with similar effort, why taxi drivers are complaining? Hmm...

Any Uber driver to enlighten?

Before, taxi drivers has the whole cake to themselves. Now, they have to contend with the Uber drivers. You will complain if you are a taxi drivers too. Don't you agreed? The taxi driver has to work extra harder to take home the same pay with the increased competition - a comparison of before and now as a taxi driver, not a comparison of who get the better reward for the same effort. Imo.

Uber Sells China Business to Rival Didi After Losing Billions http://bloom.bg/2akzeO7

Sent from my MotoG3 using Tapatalk

(01-08-2016, 08:43 PM)BlueKelah Wrote: Uber Sells China Business to Rival Didi After Losing Billions http://bloom.bg/2akzeO7

Sent from my MotoG3 using Tapatalk

Conceded to reality 

It is not too far away from now. What an interesting world ahead   

-----------
Uber sets 'flying car' launch for 2020
26 Apr 2017 06:52
[SAN FRANCISCO] Uber said Tuesday it wants to launch a system of flying cars to move people around cities, with a goal of putting demonstration projects in place by 2020.
...
Source: AFP

Interesting read about UBER. There is a sense that Uber became successful because of its tendency to push against boundaries and operate in "grey areas". It could be their rise, and subsequent downfall.

Uber’s C.E.O. Plays With Fire

https://www.nytimes.com/2017/04/23/techn....html?_r=0

(26-04-2017, 09:07 PM)weijian Wrote: Interesting read about UBER. There is a sense that Uber became successful because of its tendency to push against boundaries and operate in "grey areas". It could be their rise, and subsequent downfall.

Uber’s C.E.O. Plays With Fire

https://www.nytimes.com/2017/04/23/techn....html?_r=0

Very interesting read, ends up being a 1 hour read since I click the many other articles attached to that one article!

Thanks! Great company to short if it ever gets listed.

The "cash burning rate" is scaring, in hundreds of million US$ per quarter.

----------
"Uber's first-quarter loss, excluding employee stock compensation and other items, was US$708 million, narrower than the US$991 million reported three months earlier, the Journal said"

Uber posts US$708m loss, finance head leaves: WSJ

Source: Business Times Breaking News

As they said, a government's actions is all about balancing trade-offs between different interest groups. Due to its entrenched interests (there are only 18k taxi licenses in the city and no more are issued), HK is not going to legalize Uber. IMO, HK is only going to lag behind the curve, as the sharing economy marches ahead to bring about an aggregate benefit.

Hong Kong puts brakes on Uber in its road map for the future

http://www.scmp.com/news/hong-kong/econo...-transport