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Why is Uber cheaper than Taxi?

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dShaperoMDM
112
 Posted 1 year, 9 months ago

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The Guru Take

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    EjiEzeEze
    321 Rider Driver
     1 year ago

    Uber is always losing money.  They are working at a loss and they are far from making profits.  It's all on borrowed money.  

    How can taxis compete with that...

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      mboscorelli
      251 Rider
       1 year ago

      Nope.  Completely predatory. Once all taxi drivers are gone, then Uber will raise their prices.

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    SmittenKitten
    2002 Rider
     1 year ago

    While I agree, remember Uber invests in new technologies like autonomous vehicles and future businesses like UberEats.   So, it's difficult to say how much of the loss comes from their actually running a rideshare business.

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      CaptainChampion
      128
       1 year ago

      Yeah, but the fact that other ridehare services try to compete but keep shutting their doors pretty much prove that at the current cost model, rideshare companies cannot make a profit.  

      I mean...does anyone know whow Lyft is doing?  I guess they are highly leveraged as well with big backers.

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        SmittenKitten
        2002 Rider
         1 year ago

        That's the thing about private companies.  We don't know how much money they are making. 

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          CaptainChampion
          128
           1 year ago

          You can't be saying Lyft is making money, are you?  LOL.