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by JackFr 3026 days ago
The results also seem to defy common sense.

While it's relatively easy to believe that the income from driving for Uber and Lyft is lower than most people imagine and it is relatively easy to believe that a small fraction of drivers are actually losing money by driving, it is difficult to believe that that fully 1/3 of drivers are continuing to impoverish themselves.

I'm not saying it's not true, but without supporting details it seems clickbaity.

2 comments

Most people aren't math savvy and the long-term costs of riding for Uber are more 'invisible' than the short-term cash that you'll be getting from driving. Uber/Lyft functions by letting car owners get a quick buck in exchange for the long-term value of the car.

People use payday loans even though they're fairly scammy and financially irresponsible, why would Lyft/Uber be any different?

I don’t see why this is hard to believe, according to the article it claims the turn over rate is high.