Talking to some drivers it appears that they get only 75%. Same situation in most gigs/freelancing marketplace like task rabbit, Postmates etc. I'd be pissed if LinkedIn took 20% of my Total compensation. How come this space hasn't been disrupted yet. #startup #uber #lyft #grubhub #instacart #taskrabbit #postmates
Really 75%! That’s high. I thought it was like 40%
Drivers take 75%, uber takes 25%
Uber take more than 25%. Some drivers told me close to 50%
They can’t even make money at these high rates.
This imo
Yeah..I am still shocked by the number of engineers they have. The core feature is already built out. What are these 3000 engineers working on.
What are engineers at Cisco working on, another desktop telephone that no one touches
You’re talking about Twitter, right?
Feels like the investors and leadership is just milking as much as they can.
They do have competition regionally. Many cities in the US and elsewhere and even some countries have alternative rideshare apps.
Annual cost Insurance: 3B Government fees: 300m Legal: 150m Now disrupt
Assuming this is just in the ride share space. Does Postmates, task rabbit, instacart also have similar cost structures?
No. Rideshare. All others mainly spend on marketplace balancing
None of these gig businesses make any money. Everything has been tried. Investors won't fund anything other than AI.
This. You think 25% is a lot but it is not enough to pay for all the overhead. This is why nobody is left.
I have been told it's much more than 25%
2 reasons I can think of. The culture of building unnessarily expensive to run cloud applications and monopolistic VCs/companies buying up competitors before they become a threat
Pretty much this. Building a much more basic version of the app requires 10x less labor and compute. The huge fees represent the inefficiency and some sort of hope that compute costs get 10x cheaper and libraries make the labor 10x less necessary
I just learned this one trick to get rich, by building a competing app and getting bought out by VCs!