Varun Srinivasan on Farcaster

Varun Srinivasan pfp

Varun Srinivasan

Took a 20 minute Uber today, cost me $19.89. Driver took home a little over $5. Uber's take is 75% - that seems surprisingly high. I would have expected a split closer to 50-50.

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Erik pfp

i know it’s an old idea but hoping p2p sharing networks can actually take off using farcaster identity for social proof uber, couch surfing, local buy/sell marketplaces, etc

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Patrick | Megapot pfp

Patrick | Megapot

Chiming in as someone who worked on this at Lyft until 2022 Take rate is actually low, like 10%. That’s why Uber/Lyft aren’t profitable This is take rate over all driver expenses though. Per ride, it’s highly variable That’s because most of your fare goes towards incentives to get drivers on the app, on the road, and at the right time and place Eg. A $15 bonus to do 3 rides in the evening downtown, or a $1000 bonus for new drivers to sign up and do 100 rides, a $5 bonus for driving to an area we expect will have lots of riders soon, etc. such that when you call a ride, there’s a driver nearby Still, 25% of your fare is quite low, we had limits on this at Lyft

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kia pfp

it started off as 25-30% range the irony is that they squeeze the driver and the revenue is spent on the R&D of the automated fleet.

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Serj Korj pfp

it seems like @teleport solves this problem with their trip protocol

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Alex Loukissas 🍉 pfp

Alex Loukissas 🍉

Having talked to a few drivers, this is exactly why they'll cancel on you when you get a pickup from LAX and you go to the west side (~$20 ride). The take-home math is really clear to them.

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Tayyab - d/acc pfp

Wait, seriously? That’s robbery. I always thought it was closer to 30%?

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Brais.eth pfp

Probably you know this, but your comment reminds me RideX, one of the early IRL blockchain examples, back when the only thing that mattered was decentralization. The Problem-->Solution epoch. https://github.com/priyamshah112/RideX

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Max Jackson pfp

This is why i never ever use Uber. Havent for about 7 years. If i need a ride and I cant drive, bike or take public transit, I call a taxi.

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Manan pfp

Possibly driver incentives skewing the per-trip take rate? Do X trips, Get $Y

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llamafacts pfp

@llamafacts.eth

Uber's $15 minus taxes, expenses, etc I'd say Uber's net profit for that ride would be around $9? So $9-$5 still a bit high but not as bad I guess

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Apex777.eth pfp

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MikaDoe pfp

75% is brutal! It's 20% where I live

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Ethereum Daily 🗞️ pfp

Ethereum Daily 🗞️

@ethereumdaily.eth

Man how does that even cover their costs

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Jawa pfp

Credit card fees take a meaningful chunk out of the sale as well before either party gets their cut

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Kieran Daniels pfp

It used to be majorly venture subsidized and now not so much haha

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EulerLagrangodamus pfp

EulerLagrangodamus

@eulerlagrange.eth

We’re working with teleport to vampire Uber. We let driver export trust and reputation. They also use the pricing from the Uber api so they don’t have to build their own. Working with @nosh (10m rev) but for DoorDash

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✿ Gil Alter ✿ pfp

✿ Gil Alter ✿

75% 🫠 Outrageous. What are Uber’s profit margins like?

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Kuro pfp

@gardensofgrief

But then it would seem plausible to earn a living wage. Certainly cannot have that. Companies would never be that fair.

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Ash pfp

I’m thinking if farcaster will someday become - an everything platform like WeChat

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