RE: Uber/Lyft Destroy NYC Taxi Cartel In Under 5 Years; Drivers Still Losing
I was just having this conversation with my aunt who is an UBER driver. When you calculate all of the expenses that the driver assumes you're basically working for less than minimum wage.
-Oil Changes, Tire Rotations
-Daily Maintenance/Car Washes
Basically UBER started out by paying drivers high commissions to suck them in. An over the years as the company grew they started to raise the fees on the drivers. Now after dealing a massive blow to the YELLOW TAXI CAB industry and squeezing their drivers. They're testing driver less cars in certain states which will eventually lead to them no longer needing human drivers.
While I'm a huge proponent of free markets and technology, you can't escape the fact that technology does make life easier but at a cost. And that cost is the loss of jobs for many low skilled workers.