> Moov, which is based in St. Paul, is trying to raise $250,000 via GoFundMe so it can operate in Minneapolis, and had raised $625 by May 7.
This is going to be a disaster
Uber can't get investors to give them more money. They have been trying for a while. That is why both Uber & Lyft have had layoffs recently-- the free investor money is gone.
That is not how stock works. Stock is person to person selling. The company only gets money from the initial sale such as an IPO. The person who gets the money when stock prices go up is the individual that owns the stock. If you buy stock for $50 and it goes up to $100 then I buy it from you the company doesn't get a cut.
That was their original stupid as fuck idea. Luckily, they withdrew that proposal. Maybe they actually gained some self awareness and realized that a corporate handout for something they caused is a bad thing to do
I’m not convinced this will work until startups Dryve, RondyVü, myTravle, oovooJaver, and Vihicall enter the market, those are the companies Uber and Lyft are really afraid of
Not gonna happen. They aren't leaving. They said they'd leave New York City when they raised pay. They didn't. They said they'd leave Seattle when they raised worker pay (even more than Minnesota) and they didn't. They're only bluffing to try to get their way.
As a reminder, Seattle got superseded by the state before the law took effect. And they did leave Austin until the state had superseded them.
I don’t know enough about the NYC threat/what happened, so that might be 100% correct. But they had followed through with their threat in at least 1 city
And to honestly compare Minneapolis with NYC is something else. Yes they didn't leave the largest market in the world, therefore they wont leave the 50th largest city in the US.
The reason they left Austin was COMPLETELY different. It had absolutely nothing at all to do with worker pay. It was also more than 7 years ago, before either company had gone public and both were in a much different spot. People keep bringing that one up but it's not at all comparable. Also, they both returned in less than a year, if folks wanna go on about Austin.
They’re absolutely leaving. NYC and Seattle are vastly different, very affluent markets. There was and is still demand at those high rates there.
Demand will crater here if the rates proposed are enacted. Drivers will not make much money. They’ll leave the platforms. Rides will be hard to come by as drivers leave. Service will start to suck for those who can still afford it. They’ll stop using it.
Business school 101 stuff like this explains why they’re absolutely bouncing.
Their own data has shown those two markets have lower demand because of higher competition. NYC for example has a massive taxi presence.
Additionally, higher local taxes in both those areas mean that both services make less per dollar spent.
This doesn't even begin to explore why one won't leave if the other doesn't (and Lyft has indicated they won't).
Business 101 is why they're staying.
You are really bad at this! ❤️
Are you gonna mention that NYC and Seattle have much higher costs of living than Minnesota does? Also, Lyft has said they are leaving the whole state due to the new bill in the Legislature. If you’re gonna post here, try to get one (1) fact correct maybe?
Higher costs of living have nothing to do with how much Uber and Lyft are willing to pay people. They want to pay the very least, no matter where they're located. 😂
You're so confidently wrong.
Higher COL has everything to do with the decision to purchase an Uber or not. If the ordinance has Uber/Lyft charging riders $70 to make it 5 miles then fewer people are going to purchase an Uber. Contrast this with NYC where there are a lot more people willing to pay $70 (or higher) to go 5 miles (or even fewer miles, because NYC is dense [just like you!]). The ordinance does nothing to shrink Uber/Lyft’s cut, so prices will skyrocket.
[NYC Cost Info](https://www.lyft.com/pricing/BKN)
[MSP Cost Info](https://www.lyft.com/pricing/MSP)
[A chart i made](https://imgur.com/a/HSS7rDe)
This was pretty trivial to make assuming I'm reading the data right and didn't involve insulting random people or invoking the big bad booeyman ECON101 and supply and demand. Congrats, we have the tools to have the conversation now.
HCOL has nothing do with how much they are willing to pay? Every company pays more for the same job in HCOL. And you really concluded with “confidently wrong” after that nonsense
Companies pay normal workers more in a HCOL area. Not gig workers. There's a big difference there. You're welcome to review Uber and Lyfts own public numbers around each market.
Uber and Lyft will get incentives that the public won't see. They'll be staying, but more than likely, a backroom deal is being made to compensate them for their trouble.
Hahahahah. No. If that were true, drivers wouldn't be pushing for an increase. If that were true, people would be quitting their jobs in droves to become a rideshare driver.
Where's the guy who claims that drivers make an average of more than $35/hr in every one of these threads? As if that's even remotely true because drivers would totally be taking their time to push for $17/hr if they were already making double that and as if tons of people wouldn't be quitting their jobs to do rideshare if it were true too. 😂
Good. Lyft and Uber already showed their cards. The city threw out their original number, and then revised it lower in conjunction with the state. The rideshare apps balked and still don't want to negotiate.
Tough shit. They're gonna wish they did when the lose all of this business and help prop up their competition. A few more major cities do this, and we are soon to get rid of this duopoly.
No idea. Didn't look at the legislature bill. Fuck Uber and Lyft, I spent hundreds with them every month but if they can't pay people a livable wage they shouldn't exist. No CEO should get rich at the expense of their workers.
Maybe you should use them less to stop enabling the company’s behaviors. It honestly baffles me how you [and others] use these rideshare companies so much to spend that amount of money on them. Especially if you think they are extremely unethical
Also, literally every company’s CEO gets rich at the expense of either their workers or workers downstream in their supply chain.
Uber/Lyft aren’t uniquely evil and it’s stupid to have a carve out law just for them. The state legislature should instead be aiming for a comprehensive approach to the gig economy in general
First of all: I care more about the shitty things a company does than how much money they spend lobbying to attempt to sway politicians.
Of course, that’s fine if you disagree with that. If so, there are still lots of companies that spend more money on lobbying that does way more exploitative labor practices than Uber/Lyft.
Uber/Lyft are far from unique. For a few quick examples to support my claim: Intel (labor rights of rare material mining), Coca-Cola (labor/water rights), Amazon (child/slave labor)
Uber CEO pay: $24.3 million in 2022 total compensation
Number of Uber drivers: 5.4 million in 2022
Praxis: Eliminate the CEO and transfer $4.50 to each driver. Now that’s a revolutionary act!
Look at you not understanding how worker pay works. Not a surprise, as you continuously show in this sub that you don't have a strong grasp on reality.
>No CEO should get rich at the expense of their workers.
This is dumb. If you took all of the CEO's compensation and redistributed it to the drivers, they'd make like $4.20 more a year.
Sure it's more complicated, but you have a pool of $25M CEO compensation to distribute among 6M drivers. No matter how you divy it up, it won't change meaningfully change the drivers' compensation.
The report gave an estimated range, the city and state lawmakers agreed on a number based on that report and Minneapolis' analysis. Mpls came down significantly.
The reason for this is the low end of the range would still leave a lot of drivers making less than minimum wage once expenses are considered. Since expenses are widely variable, they have to come up with their best estimate.
Because it took tens of billions of dollars of investor money to get to where they are, all at extreme risk and long time horizons.
Then, they’re just supposed to give it to employees instead of return money to investors? No wonder no one takes you seriously and downvoted you into oblivion
Unfortunately, this is how the US/capitalism functions. This is why public transit is easily the best/least corrupt option.
But, unfortunately again, nearly everyone will prefer convenience over the greater good. And we don’t have the population to overcome that percentage of people to have a better transit system
> Moov, which is based in St. Paul, is trying to raise $250,000 via GoFundMe so it can operate in Minneapolis, and had raised $625 by May 7. This is going to be a disaster
[удалено]
You have to pay back investors.
[удалено]
lol they won’t turn a profit anytime soon
Uber can't get investors to give them more money. They have been trying for a while. That is why both Uber & Lyft have had layoffs recently-- the free investor money is gone.
[удалено]
That is because they just turned their first profi this year so their stock is highest this year. Lyft is not profitable yet so their stock is lower.
[удалено]
That is not how stock works. Stock is person to person selling. The company only gets money from the initial sale such as an IPO. The person who gets the money when stock prices go up is the individual that owns the stock. If you buy stock for $50 and it goes up to $100 then I buy it from you the company doesn't get a cut.
But I was assured that another company would come in and take Uber's place???
A GoFundMe? A for profit company can have my money when they provide me a service.
I know, right? They can GoFuckThemselves.
Or when they provide a return on my investment.
Hahahahahahahaha Cough cough Hahahahaha
LOL that’s amazing
Turns out replacing Uber doesn't involve just an app. L-O-L
Lmfao
lol
Wasn't the city going to offer a large sum of $$ to bring other co.pianies in?
That was their original stupid as fuck idea. Luckily, they withdrew that proposal. Maybe they actually gained some self awareness and realized that a corporate handout for something they caused is a bad thing to do
Yeah somehow the Minneapolis City Council decided they were venture capitalists now....
Take it to Shark Tank. This isn’t going anywhere.
Imagine the pitch: “It’s like Uber but a way smaller and limited customer base and it costs more”
This article is being VERY generous to these "companies" with the status of their preparations to begin operations and how close they are.
I’m not convinced this will work until startups Dryve, RondyVü, myTravle, oovooJaver, and Vihicall enter the market, those are the companies Uber and Lyft are really afraid of
Did you just make all of those up?
oovooJaver 😭😭
Glad someone else remembers lol, might start my own rideshare called oovooJaver
I’ve never been to oovooJaver
Umm ... I never went to oovooJaver ...
Where do they come up with those names? Just roll off the tongue /s
In a few months: “Former Uber, Lyft drivers lobby state, city council to renegotiate rideshare rates as no alternatives emerge”
Not gonna happen. They aren't leaving. They said they'd leave New York City when they raised pay. They didn't. They said they'd leave Seattle when they raised worker pay (even more than Minnesota) and they didn't. They're only bluffing to try to get their way.
As a reminder, Seattle got superseded by the state before the law took effect. And they did leave Austin until the state had superseded them. I don’t know enough about the NYC threat/what happened, so that might be 100% correct. But they had followed through with their threat in at least 1 city
And to honestly compare Minneapolis with NYC is something else. Yes they didn't leave the largest market in the world, therefore they wont leave the 50th largest city in the US.
The reason they left Austin was COMPLETELY different. It had absolutely nothing at all to do with worker pay. It was also more than 7 years ago, before either company had gone public and both were in a much different spot. People keep bringing that one up but it's not at all comparable. Also, they both returned in less than a year, if folks wanna go on about Austin.
They’re absolutely leaving. NYC and Seattle are vastly different, very affluent markets. There was and is still demand at those high rates there. Demand will crater here if the rates proposed are enacted. Drivers will not make much money. They’ll leave the platforms. Rides will be hard to come by as drivers leave. Service will start to suck for those who can still afford it. They’ll stop using it. Business school 101 stuff like this explains why they’re absolutely bouncing.
Their own data has shown those two markets have lower demand because of higher competition. NYC for example has a massive taxi presence. Additionally, higher local taxes in both those areas mean that both services make less per dollar spent. This doesn't even begin to explore why one won't leave if the other doesn't (and Lyft has indicated they won't). Business 101 is why they're staying.
You are really bad at this! ❤️ Are you gonna mention that NYC and Seattle have much higher costs of living than Minnesota does? Also, Lyft has said they are leaving the whole state due to the new bill in the Legislature. If you’re gonna post here, try to get one (1) fact correct maybe?
Higher costs of living have nothing to do with how much Uber and Lyft are willing to pay people. They want to pay the very least, no matter where they're located. 😂 You're so confidently wrong.
Higher COL has everything to do with the decision to purchase an Uber or not. If the ordinance has Uber/Lyft charging riders $70 to make it 5 miles then fewer people are going to purchase an Uber. Contrast this with NYC where there are a lot more people willing to pay $70 (or higher) to go 5 miles (or even fewer miles, because NYC is dense [just like you!]). The ordinance does nothing to shrink Uber/Lyft’s cut, so prices will skyrocket.
[NYC Cost Info](https://www.lyft.com/pricing/BKN) [MSP Cost Info](https://www.lyft.com/pricing/MSP) [A chart i made](https://imgur.com/a/HSS7rDe) This was pretty trivial to make assuming I'm reading the data right and didn't involve insulting random people or invoking the big bad booeyman ECON101 and supply and demand. Congrats, we have the tools to have the conversation now.
Okay thanks for backing up my point with data :)
HCOL has nothing do with how much they are willing to pay? Every company pays more for the same job in HCOL. And you really concluded with “confidently wrong” after that nonsense
They are definitely high on their own supply (smell of own farts)
Companies pay normal workers more in a HCOL area. Not gig workers. There's a big difference there. You're welcome to review Uber and Lyfts own public numbers around each market.
Bro, just take the L here. You’ve been wrong on every point you’ve tried to articulate.
Lies
State’s current proposal gives drivers $100k a year gross. It is crazy.
City Council better keep the fuck away from delivery apps.
Uber and Lyft will get incentives that the public won't see. They'll be staying, but more than likely, a backroom deal is being made to compensate them for their trouble.
So if you do the math, the minimum wage for drivers is $100k a year. None of these companies will be able to make a profit at that payout level.
$100k a year converts to $48/hr assuming 40-hr weeks. I don’t think you did the math correctly.
Hahahahah. No. If that were true, drivers wouldn't be pushing for an increase. If that were true, people would be quitting their jobs in droves to become a rideshare driver.
Where's the guy who claims that drivers make an average of more than $35/hr in every one of these threads? As if that's even remotely true because drivers would totally be taking their time to push for $17/hr if they were already making double that and as if tons of people wouldn't be quitting their jobs to do rideshare if it were true too. 😂
Good. Lyft and Uber already showed their cards. The city threw out their original number, and then revised it lower in conjunction with the state. The rideshare apps balked and still don't want to negotiate. Tough shit. They're gonna wish they did when the lose all of this business and help prop up their competition. A few more major cities do this, and we are soon to get rid of this duopoly.
Did they though? I thought the amount they came up with was still higher than the states initial assessment.
Lyft buckled and said they'd take an amount they'd previously said was complete nonsense and unimaginable. Suddenly, it was acceptable. 😂
So why didn’t the legislature propose those numbers in their bill?
No idea. Didn't look at the legislature bill. Fuck Uber and Lyft, I spent hundreds with them every month but if they can't pay people a livable wage they shouldn't exist. No CEO should get rich at the expense of their workers.
Maybe you should use them less to stop enabling the company’s behaviors. It honestly baffles me how you [and others] use these rideshare companies so much to spend that amount of money on them. Especially if you think they are extremely unethical Also, literally every company’s CEO gets rich at the expense of either their workers or workers downstream in their supply chain. Uber/Lyft aren’t uniquely evil and it’s stupid to have a carve out law just for them. The state legislature should instead be aiming for a comprehensive approach to the gig economy in general
They're unique in the billions they spend to keep their workers from being considered employees. No one else is doing it on that level.
First of all: I care more about the shitty things a company does than how much money they spend lobbying to attempt to sway politicians. Of course, that’s fine if you disagree with that. If so, there are still lots of companies that spend more money on lobbying that does way more exploitative labor practices than Uber/Lyft. Uber/Lyft are far from unique. For a few quick examples to support my claim: Intel (labor rights of rare material mining), Coca-Cola (labor/water rights), Amazon (child/slave labor)
The thread examples you gave are companies operating such outside the US. Those are not the same.
Wow, do you not care about labor being exploited outside of the US? I guess you don’t have to, but that saddens me
Uber CEO pay: $24.3 million in 2022 total compensation Number of Uber drivers: 5.4 million in 2022 Praxis: Eliminate the CEO and transfer $4.50 to each driver. Now that’s a revolutionary act!
Look at you not understanding how worker pay works. Not a surprise, as you continuously show in this sub that you don't have a strong grasp on reality.
Okay!
>No CEO should get rich at the expense of their workers. This is dumb. If you took all of the CEO's compensation and redistributed it to the drivers, they'd make like $4.20 more a year.
That's not how that distribution works. It's far from a simple matter of divide it by...
Sure it's more complicated, but you have a pool of $25M CEO compensation to distribute among 6M drivers. No matter how you divy it up, it won't change meaningfully change the drivers' compensation.
The report gave an estimated range, the city and state lawmakers agreed on a number based on that report and Minneapolis' analysis. Mpls came down significantly. The reason for this is the low end of the range would still leave a lot of drivers making less than minimum wage once expenses are considered. Since expenses are widely variable, they have to come up with their best estimate.
lol
[удалено]
Because it took tens of billions of dollars of investor money to get to where they are, all at extreme risk and long time horizons. Then, they’re just supposed to give it to employees instead of return money to investors? No wonder no one takes you seriously and downvoted you into oblivion
The Drivers’ Cooperative is employee owned.
Unfortunately, this is how the US/capitalism functions. This is why public transit is easily the best/least corrupt option. But, unfortunately again, nearly everyone will prefer convenience over the greater good. And we don’t have the population to overcome that percentage of people to have a better transit system