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Will Uber and Lyft raise fares? Will they merge? Your opinions/thoughts?
Posted 6 years ago
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Posted By
Monica Castleberry (momof4)
8198
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Ride Expert from Philadelphia PA
Mom & Nursing Student by day Ride Share Driver by night always on the go
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Comments
Yes, i definitely feel they will increase rates, HOWEVER, I am confident they will increase rates to benefit themselves - NOT the driver. Yeah we may get a tiny increase, but as long as there's a steady flow of new drivers ready to 'try it out' I don't think things will change for anybody except the corporation. They've yet to ever make a cent of profit, and it appears the only way to change that, which will be essential if they're going to survive as an IPO, will be to increase their share of the ride revenue (take a larger cut).
Yep. This.
Speaking for New York raising the minimum wage to $15 per hour just made the cost of living go up and the value of a dollar go down. There is no middle class its either you are rich or poor and it is getting harder and harder to live in NYC and work as a driver .
Wait. So you think they will or will not raise fares?
Yes, the business and how they'll run it will change at the time of IPO. Before IPO, the goal was to GROW. Artificially keep the rates low and get the rides to sign up. After IPO, the goal will be to make money.
The fight over the market share between Lyft and Uber will not be over, but both companies will be required and under pressure to show their investors they can make money...and best of all profits.
They can't do that at the current rates. We all know that.
Speaking for NYC the driver must gross $27.22 per hour as long as the app is opened and work is accepted . I think that if you don't make that figure the company must give you the difference . Am I correct ??
I think they have to raise fares at some point to become profitable. currently they are not sustainable.
I bet they will merge at some point. They are virtually the same company. There will come a time when one (Uber) will dominate enough and buy out the other (lyft).