Is the stock market going to tank?

[Ted Striker]

For all the champagne liberals believing in LYFT or Uber, all they're doing is propagating the myth of workers hustling for a buck without no corporate stewardship or responsibility to its workers. They don't pay benefits of any kind that I'm aware of, the maintenance, insurance and car costs are carried by the driver and at the end of the day, I'd argue most drivers are not making anything resembling a living wage. Sure there must be outliers, but like a good old fashioned mormon MLM, 95% of those who enter aren't making anything resembling a living wage. Aside from flexibility, at least working at Starbucks gets you benefits and a paycheck.

Poliass comments aside, I agree. But that's everything. The big lie is that anyone can get rich in this country.

If enough people were good at math, nobody would drive for them.

If I had to come up with a common theme for uber drivers I've ridden with, it would be that they're lonely.

[iceman]

I'm just here to add that I have yet to take an Uber/Lyft ride where the driver has not launched into a seriously racist or bigoted (anti gay) rant within 60 seconds of me getting into the car. I don't know if I give off a "sympathetic to bigots" vibe, or what, but it's happened a dozen or so times in multiple cities.

It's the Sankapu.

[Danno]

The big lie is that anyone can get rich in this country.

that's what the Powerball and MegaMillions are for.

[mcski]

that's what the Powerball and MegaMillions are for.

And taxes. Poor people that don't want the tax rates on the rich to go up because some day they will be rich

[glademaster]

You are either a massive statistical outlier or you dress like a skinhead, because I have never had that happen in the 15-20 Uber/Lyft rides I have taken. And have not heard that complaint from others.

Oh I definitely know that I'm an outlier with my experience. I shared it purely as an anecdote, and not in an attempt to disparage folks who drive for Uber or Lyft and have made it out of the 19th century. I'm not accusing Uber and Lyft of recruiting from 4Chan, but that doesn't change the fact that my experiences listening to Uber and Lyft drivers represents a significant percentage of the "hate speech" I have had the displeasure of hearing in my life.


On two occasions, one in Seattle, one in Portland, my girlfriend was uncomfortable with the vitriol of the driver to the point that she insisted we had made a last minute change of plans and needed to be dropped of ASAP.

It's the Sankapu.

Nah, I was baked for all of the aforementioned rides, otherwise I would have been driving.

[splat]

And taxes. Poor people that don't want the tax rates on the rich to go up because some day they will be rich

That's the fukking lie.

[neufox47]

I’ve done lost income claims for a number of Uber drivers. Some make $40 a day going to work and on their way home. Others make $200-300 net after cost of driving. Uber has insurance, the drivers can supplement it but the main liability and other insurance is through Uber.

The main thing Uber drivers have told me when I did their calculations or on the hundreds of rides I’ve taken is you can make money if you are willing to work when rates are high. If you are willing to do the bar runs from 10pm to closing in any major city Thurs - Sat that is typically worth close to $100 an hour gross. Also tips have significantly helped them out.

I typically pay $40-50 without tip for a 40 mile 40 minute ride from the airport to my house. Driver gets 75% of that. Their cost per mile if they have a good car is usually around $.20.

[shroom]

it’s prime time drunk rides and airport/long commute runs in seattle. one run from the airport/dt up north on the way home can be huge. i think i paid > $50 for my last early morning airport run of 15-20mins over 10 miles of empty freeway.

i uber/lyft ~5x a week and can’t remember anyone too wretched; plenty of idiots and bad drivers. i’m riding this bitch til the real costs catch up and i have to buy a second car again (cost of parking a car in this city is cray).

[Brock Landers]

“Making money” and positive net income at the very bottom of the income statement are not the same thing.

Look at Amazon for about 15 straight years. And at any given time Amazon could throw in a negative income quarter. Are they not making any money? For these growth companies (growing double digits annually, not just because they took an extra percent from drivers) look at gross profit growth and debt levels. Net income is the wrong metric.

[Brock Landers]

Tesla should be interesting at the open. More interesting will be spreads on that debt

[dunfree]

Deliver half of the cars in ten days? Totally normal.

Just like predicating unicorn growth on Amazon, which makes hundreds of millions off those unicorns, is totally normal.

[schuss]

Eh, tech is the fastest to scale as a type of company with the lowest required overhead.
With how much capital is just hanging out there looking for returns, any company with their shit together is going to get paid.

[Game Over]

Tesla should be interesting at the open. More interesting will be spreads on that debt

Down over 8% on the day.

[PNWbrit]

in seattle. bad drivers.

I refuse to use Uber or Lyft.

Uber drivers in Seattle are appallingly bad.

Can't drive a block downtown without some crazy Mogadishu stunt being pulled.

[shroom]

my standards may be excessively low when it comes to judging the general public these days.

[iceman]

I refuse to use Uber or Lyft.

Uber drivers in Seattle are appallingly bad.

Can't drive a block downtown without some crazy Mogadishu stunt being pulled.

I'm sure there's laws. Maybe doing what you can do to hold the people in charge of enforcing the laws accountable would be a good idea.

Not saying you aren't, I have no idea.

[dunfree]

I'm sure there's laws. Maybe doing what you can do to hold the people in charge of enforcing the laws accountable would be a good idea.

Not saying you aren't, I have no idea.

Who's this you? This is, to quote Matt Levine, the golden age for legal realism. What the fuck you going to do about it? Nobody cares about laws anymore, break them if you offer a service to yuppies (Uber) and they'll protect you.


As for the upthread "tech". Tech's a sell side bullshit term that doesn't mean fuckall. Tesla? WeWork? High-overhead companys. Tesla's actually higher overhead then their car making peers. Tech's just a term for company's that want to sell a software growth narrative irrespective of reality. That's not my stupid cynicism, Netflix refers to themselves as a media company that uses tech but the dumbass shills still call them a tech company. Now - how about those Russian pirate streaming sites?

[schuss]

Netflix is referred to as a tech company as that's how they started and they've created a lot of the modern ways to do infrastructure in the cloud era.
WeWork and Tesla will be bankrupt in a year or two unless they make serious changes to their models. Investors are wising up to the tech unicorn farts without appropriate rigor,but in this capital environment, the old PT Barnum saying applies.

[4matic]

TSLA held its previous low last month of $259. It's positive that a low on SEC news held on subsequent poor fundamental news.

[skibrd]

"unicorn farts" lolll

Attachment 277418

https://www.profgalloway.com/lyft-of...n=NMNM20190329

I didn’t realize Matson was publicly traded... hum... do I double dip in the shipping industry


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[Stu Gotz]

Gonna be some carnage in the cable space tomorrow. Disney playing for keeps.

[Brock Landers]

APC making me some $$$$$ today. God damn that took a few years to play out

[PNWbrit]

Good read regarding Uber

Fuck them.

[Mazderati]

Like a kidney stone.

[stalefish3169]

Just gonna leave this here. Attachment 279114

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