Nomad Rides
To Beat Uber And Lyft, This Startup Vows To Give Its Drivers The Full Fare Nomad Rides says its platform charges riders 20% less while drivers earn 20% more, paying Nomad a flat monthly subscription—currently, $25 per month. https://www.forbes.com/sites/kenrickcai/2019/08/22/nomad-rides-commission-free-ride-hailing/amp/
Interesting concept. But market is already busy..
20% cheaper rides? They won't be able to even come close to competing with SoftBank invested Uber (atleast till they raise prices). My last 5-10 Uber eats deliveries have all costed me less money than actually picking up the food (they send me 5$ off every week for the past four weeks + I have uberpass for free delivery lol) Something I've heard from a lot of drivers is there's too much idle time on Lyft because fewer riders when compared to uber. So most drivers do both, but are clocked in to Uber much more than lyft. How would any new platform try to compete with Uber or Lyft without being bankrolled big time by VCs?
They wouldn't. Uber and lyft here to stay...
I don't understand who pays for monthly $25 fee. rider, driver or both?
In this business model, it’s the drivers. And they also have to pay for insurance etc which Uber and Lyft cover
Was there when they made the presentation yday - Literally everyone around were chuckling! refer this thread: https://twitter.com/KateClarkTweets/status/1163557688464117760 But when what seems to be a joke does work out well -- they turn out to be extremely good..
This is where the scale of Uber (mainly) and Lyft come to play; this startup’s only differentiating factor is the $25 up front recurring fee they’re going to charge drivers Both of these incumbents can do a pilot of that business model for while and if it works, roll it out. What’s going to happen to Nomad then? Also drivers need to cover their own insurance expenses with this app
[Slowpoke meme]