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TRYP (a new ridershare company) promising $500K a month?

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MickDorsey
108 Driver
 Posted 3 years, 10 months ago

I was reading up on TRYP as they are fiercely recruiting drivers right now. Have you guys heard of them? They are making claims that you can make $200,000 a month within a few months and even $500,000 a month if you start now.  

Upon googling, I saw that Ridester had an article on this. They apparently take $200~400 from their drivers and it's MONTHLY FEE.


"It’s also promising them they have the potential to earn in the six figures (after just six months) by recruiting other drivers and riders onto the platform.  The drivers they recruit have to pay a $200 monthly fee for the right to drive and each person in the line above them (known in the MLM space as an “upline”) will receive a cut of their payment as their commission for bringing them on."

Here's the catch

There are numerous problems and drivers should be very leery of spending any money with them right now.  First and foremost they’re taking $400 payments from drivers in exchange for a promise to give drivers commission-free business – which would theoretically give them 25% higher earnings than they can make with Uber or Lyft.  But they don’t even have a rider or driver app yet!  Nor do they have any customers yet.


Pyramid scheme anyone?

https://www.ridester.com/tryp-rideshare/

Comments

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    momof4
    8199 Rider Driver
     3 years ago  (edited 3 years ago)

    I am not handing out 200.00 to 400.00 per month to anyone. Where are we going to find riders? This is crazy. I would love to hear from a driver that pulled 400.00 out of pocket and see how many rides they got so far. Bet the answer is a big fat $0. Wondering if Tryp is the business a few people on here were trying to recruit drivers for. Is anyone really that naive?

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      JeremyLen
      29 Rider
       3 years ago

      Right. There’s no point of getting drivers to sign up unless there are riders. Then again, it’s always a chicken nor the egg situation. I guess they decided drivers have to come first. 


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        momof4
        8199 Rider Driver
         3 years ago

        I have viewed info on mutiple sites. Forums, You Tube, people who blog for ride share, and more. Looked up CEO (founder) and he doesnt have a good track record. Majority of what I read says its a scam.  They claim that they invited only "good drivers" to join them. How do they know who is good? They were putting info up on here for past month asking us to give them our email. The info they have provided is vague.  I responded to a thread on ride guru that one of them posted. I asked some questions. Its been 24 hrs still no response.  Drivers I know will not send them money and I do not intend to either. I can only caution drivers to wait before sending them their hard earned money. 

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    momof4
    8199 Rider Driver
     3 years ago

    In case you wanted some answers on tryp. Click link below. 

    These people have posted on here a few times. I made a few negative comments saying it was BS and a female (dont remember her name) got all defensive. Telling me she couldnt put up info yet. I tried to be nice and act like I was interested to see what she had to say but when I questioned her about her email she wouldnt put it up. She wanted us to give our email addresses to her if interested. No thanks.

       

    I would trust what Harry Campbell - Therideshareguy has to say. See link below.

    https://therideshareguy.com/what-is-tryp/

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    chawes
    756 Rider Guru
     3 years ago

    When I was a kid we would get these chain letters. In the snail mail (yes, I grew up before the internet) "Send $5 to this person, then mail this letter to 5 more people, and get rich!"

    Amazing that people are still dumb enough to fall for schemes like this. I guess they are just blinded by dollar signs.

    Show Hide  2 Replies
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      momof4
      8199 Rider Driver
       3 years ago  (edited 3 years ago)

      I remember them. 😊 If you didnt send it something terrible would happen to you or you would have bad luck for the rest of your life.

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        chawes
        756 Rider Guru
         3 years ago

        Hahaha yeah that's right. I forgot about the threats of bad fortune involved.

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    GundamX10
    31
     3 years ago

    It's a Ponzi/Pyramic scheme for sure.  Look it up.

    These businesses start popping up whenever there is a new industry with naive people. They just take the same business model and apply it to a new pool of gullible people.

    Before it was make-up, tupperware, nutrition supplements/vitamins, energy drinks, magazine subscription, etc. etc. 

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    momof4
    8199 Rider Driver
     3 years ago

    There is another thread on here for TRYP. I asked the guy a bunch of questions which he answered a select few. So I posted again with more questions as I thought he was someone from the company. Turns out he was driver looking to sign people up for referral bonus.  He got annoyed because I was asking questions. There is nothing but negative feedback on multiple sites from multiple people. This guy hands over his money with knowing nothing but "you get 100% of fare + tips" "its a no brainer".  So I am the idiot because i asked questions about a new company that hasnt done nothing other than ask drivers for money.  He also said "guess you will have to wait and read it on their website". There are drivers out there that handed over money and know nothing other than 100% of fare and tips. Are people really this naive?stupid?desperate? Has any driver or prospective driver other than the 2 people trying to make money for referral bonus handed ove…

    Read more...

    There is another thread on here for TRYP. I asked the guy a bunch of questions which he answered a select few. So I posted again with more questions as I thought he was someone from the company. Turns out he was driver looking to sign people up for referral bonus.  He got annoyed because I was asking questions. There is nothing but negative feedback on multiple sites from multiple people. This guy hands over his money with knowing nothing but "you get 100% of fare + tips" "its a no brainer".  So I am the idiot because i asked questions about a new company that hasnt done nothing other than ask drivers for money.  He also said "guess you will have to wait and read it on their website". There are drivers out there that handed over money and know nothing other than 100% of fare and tips. Are people really this naive?stupid?desperate? Has any driver or prospective driver other than the 2 people trying to make money for referral bonus handed over 200.00 to this company knowing nothing about them other than their claim of 100% of fare + tip? Fares havent even been set yet.  Fares will need to be less than Uber and Lyft.  Right there you are losing at least 15% if not more. Tips are not guaranteed we all know that.  

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    RobinH74
    41 Driver
     3 years ago

    What morons are doing this. 

    It’s a total pyramid scheme. I’m offended they deemed the driver community the dumb one to believe. 

    Show Hide  1 Reply
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      AsStibelDude
      668 Driver
       3 years ago

      Actually you can think of it as their targeting the dumb people (currently not driving) to become drivers for the first time. 

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    BGraft89
    622 Rider Driver
     3 years ago

    This will never work.  I don't have $400 to drop on this. 

    I think they completely underestimate the ability for us drivers to make this sort of investment.

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    AsStibelDude
    668 Driver
     3 years ago

    They are launching in 10 days. There's even a count-down timer on their website.

    Anyone who can build a nice looking website starts these scam sites.

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    AnAverageBear
    Driver
     3 years ago

    Tryp is a Ponzi scheme.  They make money on signing up drivers.  Their website is focused almost solely on drivers.  Technically, they are a multi-level marketing company with one focus:  drivers who are paying $200 a month and passengers who pay an administrative fee.  Drivers must give their bank account information to Tryp and then allow Tryp to pull money out of their bank account each month. 

    Let's say the average ride is $20.  The rider would pay $21.95 which is the $20 to the driver and $1.95 admin fee to Tryp.  I crunched the numbers and if 1000 drivers in each of their top 60 markets did enough rides for the drivers to break even - meaning the drivers each made $200 in fares,  Tryp would make $12.9 million.  


    If each driver in those markets received a 4:1 ROI on their monthly investment, meaning they brought in $800 gross, their net would be $600 after subtracting the $200 they paid to Tryp. Meanwhile, Tryp makes $48.9 Milli…

    Read more...

    Tryp is a Ponzi scheme.  They make money on signing up drivers.  Their website is focused almost solely on drivers.  Technically, they are a multi-level marketing company with one focus:  drivers who are paying $200 a month and passengers who pay an administrative fee.  Drivers must give their bank account information to Tryp and then allow Tryp to pull money out of their bank account each month. 

    Let's say the average ride is $20.  The rider would pay $21.95 which is the $20 to the driver and $1.95 admin fee to Tryp.  I crunched the numbers and if 1000 drivers in each of their top 60 markets did enough rides for the drivers to break even - meaning the drivers each made $200 in fares,  Tryp would make $12.9 million.  


    If each driver in those markets received a 4:1 ROI on their monthly investment, meaning they brought in $800 gross, their net would be $600 after subtracting the $200 they paid to Tryp. Meanwhile, Tryp makes $48.9 Million.  And here is the best part, the drivers are expected to recruit passengers, meaning the drivers are doing all the marketing to get riders.  

    The $0.40 commission on rides may sound like drivers will make a fortune, but in fact, most won't.  A few drivers will make a lot of money, this is true.  However, the platform currently has 0% market share so all drivers will struggle to get rides while Tryp still gets their money either way.   So you decide. 

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    brownbear
    599 Rider
     3 years ago

    LOL. what a laugh. If all these drivers are making 200K a month, guess what. They ain't gonna be driving. This business is doomed to fail.