Is Uber Bleeding to Death?
 

tim... wrote:

"Recliner" wrote in message
...
tim... wrote:
came into my in box via my linkedin account

https://www.linkedin.com/pulse/uber-...jared-carmel-2

posted without comment (for now)

Uber's latest figures suggest that its UK business is growing fast, and
modestly profitable (though it may be exporting some of its UK profits to
lower tax domains, just as other US multinationals do):

http://www.telegraph.co.uk/business/2016/10/10/uber-drivers-racked-up-115m-of-fares-in-the-uk-last-year---doubl/

Quote:

Uber’s growing popularity has been confirmed after new accounts revealed
the taxi technology’s drivers billed more than £100m in UK fares last
year,
leading to a doubling of profits at its parent company.

Uber London, the taxi app’s UK holding company, recorded a profit before
tax of £1.83m, up 105pc on the prior year, on the back of revenue that
more
than doubled.

Accounts filed at Companies House show that Uber generated sales of £23.3m
in the year to December 2015, up from £11.34m. The sales figure reflects
only Uber’s share of fares for trips booked on its app.

Although Uber’s exact revenue split is not known, it is believed Uber
gives
approximately 80pc of any fare to the driver, retaining 20pc for itself.

Based on that understanding and Uber’s £23m take, the company’s network of
drivers did some £115m of business in the UK last year, the majority of
which is thought to have been in the capital.


From

http://www.telegraph.co.uk/finance/n...in-London.html

Uber claims "more than 15,000 drivers in London"

so that's a turnover of 7600 each?

That's before expenses.

Before fuel costs

before paying financing costs for the car.

Something doesn't add up

It confirms that most Uber drivers are part-time.

http://www.telegraph.co.uk/technology/2016/06/02/majority-of-uber-drivers-in-london-work-part-time-study-says/

Is Uber Bleeding to Death?
 

"Roland Perry" wrote in message
...
In message , at 19:53:13 on Tue, 11 Oct 2016,
tim... remarked:
Uber claims "more than 15,000 drivers in London"

so that's a turnover of 7600 each?

That's before expenses.

Before fuel costs

before paying financing costs for the car.

Something doesn't add up

Forgotten the subsidy so soon?

They no longer pay a subsidy in London (apparently)

Citation required.

I posted it last time it was discussed.

And you made your comment like it was me who introduced the issue of
subsidy to the thread. It wasn't

Indeed, you were the one denying it ever existed.

Um, no

wrong again

tim

Is Uber Bleeding to Death?
 

"Recliner" wrote in message
...
tim... wrote:

"Recliner" wrote in message
...
tim... wrote:
came into my in box via my linkedin account

https://www.linkedin.com/pulse/uber-...jared-carmel-2

posted without comment (for now)

Uber's latest figures suggest that its UK business is growing fast, and
modestly profitable (though it may be exporting some of its UK profits
to
lower tax domains, just as other US multinationals do):

http://www.telegraph.co.uk/business/2016/10/10/uber-drivers-racked-up-115m-of-fares-in-the-uk-last-year---doubl/

Quote:

Uber’s growing popularity has been confirmed after new accounts revealed
the taxi technology’s drivers billed more than £100m in UK fares last
year,
leading to a doubling of profits at its parent company.

Uber London, the taxi app’s UK holding company, recorded a profit before
tax of £1.83m, up 105pc on the prior year, on the back of revenue that
more
than doubled.

Accounts filed at Companies House show that Uber generated sales of
£23.3m
in the year to December 2015, up from £11.34m. The sales figure reflects
only Uber’s share of fares for trips booked on its app.

Although Uber’s exact revenue split is not known, it is believed Uber
gives
approximately 80pc of any fare to the driver, retaining 20pc for itself.

Based on that understanding and Uber’s £23m take, the company’s network
of
drivers did some £115m of business in the UK last year, the majority of
which is thought to have been in the capital.


From

http://www.telegraph.co.uk/finance/n...in-London.html

Uber claims "more than 15,000 drivers in London"

so that's a turnover of 7600 each?

That's before expenses.

Before fuel costs

before paying financing costs for the car.

Something doesn't add up

It confirms that most Uber drivers are part-time.

But even so

As I said previously, I don't believe that the type of car required to be an
Uber driver is the type of car that someone who wants to increase their
income by a few tens of pounds a week working ****ty hours as an Uber
driver, will already have sitting on their drive.

and 7 grand a year isn't enough to finance such a car after you have paid
the other expenses.

I still don't get it (from the pov of the driver).

tim





http://www.telegraph.co.uk/technology/2016/06/02/majority-of-uber-drivers-in-london-work-part-time-study-says/

Is Uber Bleeding to Death?
 

tim... wrote:

"Recliner" wrote in message
...
tim... wrote:

"Recliner" wrote in message
...
tim... wrote:
came into my in box via my linkedin account

https://www.linkedin.com/pulse/uber-...jared-carmel-2

posted without comment (for now)

Uber's latest figures suggest that its UK business is growing fast, and
modestly profitable (though it may be exporting some of its UK profits
to
lower tax domains, just as other US multinationals do):

http://www.telegraph.co.uk/business/2016/10/10/uber-drivers-racked-up-115m-of-fares-in-the-uk-last-year---doubl/

Quote:

Uber’s growing popularity has been confirmed after new accounts revealed
the taxi technology’s drivers billed more than £100m in UK fares last
year,
leading to a doubling of profits at its parent company.

Uber London, the taxi app’s UK holding company, recorded a profit before
tax of £1.83m, up 105pc on the prior year, on the back of revenue that
more
than doubled.

Accounts filed at Companies House show that Uber generated sales of
£23.3m
in the year to December 2015, up from £11.34m. The sales figure reflects
only Uber’s share of fares for trips booked on its app.

Although Uber’s exact revenue split is not known, it is believed Uber
gives
approximately 80pc of any fare to the driver, retaining 20pc for itself.

Based on that understanding and Uber’s £23m take, the company’s network
of
drivers did some £115m of business in the UK last year, the majority of
which is thought to have been in the capital.


From

http://www.telegraph.co.uk/finance/n...in-London.html

Uber claims "more than 15,000 drivers in London"

so that's a turnover of 7600 each?

That's before expenses.

Before fuel costs

before paying financing costs for the car.

Something doesn't add up

It confirms that most Uber drivers are part-time.

But even so

As I said previously, I don't believe that the type of car required to be an
Uber driver is the type of car that someone who wants to increase their
income by a few tens of pounds a week working ****ty hours as an Uber
driver, will already have sitting on their drive.

and 7 grand a year isn't enough to finance such a car after you have paid
the other expenses.

I still don't get it (from the pov of the driver).

Many Uber drivers are also local minicab drivers. Some might also driver
for other apps. So the same car is used to generate more than one income
stream.

Also, the number of Uber drivers at any one date is probably much lower
than the numbers cited.

Is Uber Bleeding to Death?
 

In message , at 21:55:38 on Tue, 11 Oct
2016, tim... remarked:
They no longer pay a subsidy in London (apparently)

Citation required.

I posted it last time it was discussed.

And you made your comment like it was me who introduced the issue of
subsidy to the thread. It wasn't

Indeed, you were the one denying it ever existed.

Um, no

What's your assertion, then? That Uber used to pay a subsidy in London,
but don't now.

What do you call the referral bonus, paid for by Uber not the drivers,
if not a subsidy to the drivers fulfilling those trips?
--
Roland Perry

Is Uber Bleeding to Death?
 

"Recliner" wrote in message
...
tim... wrote:


As I said previously, I don't believe that the type of car required to be
an
Uber driver is the type of car that someone who wants to increase their
income by a few tens of pounds a week working ****ty hours as an Uber
driver, will already have sitting on their drive.

and 7 grand a year isn't enough to finance such a car after you have paid
the other expenses.

I still don't get it (from the pov of the driver).

Many Uber drivers are also local minicab drivers. Some might also driver
for other apps. So the same car is used to generate more than one income
stream.

Whilst I have no personal knowledge of this,

many of the reports that I have read say that it is impossible use this MO
because the London mini-cab companies insist that you rent the car from them
when you drive for them. Your own car sits on your drive.

Also, the number of Uber drivers at any one date is probably much lower
than the numbers cited.

Hm - not convinced (that the papers would report it that way, not that it
doesn't happen)

Is Uber Bleeding to Death?
 

"Roland Perry" wrote in message
...
In message , at 21:55:38 on Tue, 11 Oct 2016,
tim... remarked:
They no longer pay a subsidy in London (apparently)

Citation required.

I posted it last time it was discussed.

And you made your comment like it was me who introduced the issue of
subsidy to the thread. It wasn't

Indeed, you were the one denying it ever existed.

Um, no

What's your assertion, then? That Uber used to pay a subsidy in London,
but don't now.

That is what my investigation at the time established, and I have previously
posted posts saying so - look back yourself

What do you call the referral bonus, paid for by Uber not the drivers, if
not a subsidy to the drivers fulfilling those trips?

so when I get a 20 quid M&S voucher for recommending my insurance company
(whoever) to a friend, that is a subsidy, is it?

tim

Is Uber Bleeding to Death?
 

In message , at 11:39:14 on Wed, 12 Oct
2016, tim... remarked:

What do you call the referral bonus, paid for by Uber not the
drivers, if not a subsidy to the drivers fulfilling those trips?

so when I get a 20 quid M&S voucher for recommending my insurance
company (whoever) to a friend, that is a subsidy, is it?

No, because the insurance company buys them in bulk off M&S (at a
discount because many get lost/thrown away). To bribe people to refer
insurance customers - it's not M&S bribing the insurance company £20 to
drum up more M&S customers.

Uber taxi drivers don't buy the £15 vouchers and hand them to potential
new customers (thus reducing their first fare by £15). That £15 is paid
by Uber HQ, and is therefore a £15 subsidy to the driver accepting the
voucher.

Promotional marketing models not your strong point are they?
--
Roland Perry

Is Uber Bleeding to Death?
 

On Wed, 12 Oct 2016 11:36:50 +0100, "tim..."
wrote:


"Recliner" wrote in message
...
tim... wrote:


As I said previously, I don't believe that the type of car required to be
an
Uber driver is the type of car that someone who wants to increase their
income by a few tens of pounds a week working ****ty hours as an Uber
driver, will already have sitting on their drive.

and 7 grand a year isn't enough to finance such a car after you have paid
the other expenses.

I still don't get it (from the pov of the driver).

Many Uber drivers are also local minicab drivers. Some might also driver
for other apps. So the same car is used to generate more than one income
stream.

Whilst I have no personal knowledge of this,

many of the reports that I have read say that it is impossible use this MO
because the London mini-cab companies insist that you rent the car from them
when you drive for them. Your own car sits on your drive.

It almost certainly depends on the firm. I'm sure many of the drivers
are using their own cars. It doesn't take long on Google to find ads
like this:
http://www.swiftcars.co.uk/employment-opportunities/

REQUIREMENTS:

-Own Vehicle in good condition, 2010 Reg or above.

– Minimum 1 months minicab work experience in London.

-spoken and written English language

-good knowledge of Central London

-OWN PROFESSIONAL NAVIGATION SYSTEM WITH LIVE TRAFFIC INFORMATION

-PCO license

PDA, Manuals, Support and Training provided.


Or this:
http://www.indeed.co.uk/cmp/Clock-Ca...Minicab+Driver



Also, the number of Uber drivers at any one date is probably much lower
than the numbers cited.

Hm - not convinced (that the papers would report it that way, not that it
doesn't happen)

They probably get the number from Uber -- who else would know? And
I'm sure that there;s a steady stream of drivers giving it a go, and
then deciding it's not for them. But they probably remain registered
as Uber drivers. Also that report was based on last year's figures,
when the number of driver's would have been lower on average.

Is Uber Bleeding to Death?
 

In message , at 13:59:56 on
Wed, 12 Oct 2016, Recliner remarked:

many of the reports that I have read say that it is impossible use this MO
because the London mini-cab companies insist that you rent the car from them
when you drive for them. Your own car sits on your drive.

It almost certainly depends on the firm. I'm sure many of the drivers
are using their own cars.

One common business model is that you have to rent the 2-way radio from
the minicab firm (and that's a kind of "retainer fee" for the firm). Of
course, Uber has made those redundant.
--
Roland Perry